Virginia Technology Showcase Promotes Technology Transfer in Northern Virginia

FOR IMMEDIATE RELEASE

McLean, Virginia, April 4, 2002 — The first Virginia Technology Showcase, co-hosted by the MITRE Corporation and Virginia's Center for Innovative Technology, successfully met its goal of matching university and federal R&D facilities with those looking to invest in their available technologies. More than 80 companies attended the mid-March event, held at CIT headquarters in Herndon, Virginia, to learn about commercially viable technologies in the fields of information technology and biotechnology.

Louis McDonald, CIT's Industry Director for Information Technology notes that, "our objective for the event was to highlight leading edge technology available for licensing from Virginia universities and federal R&D facilities. We hoped to have those in attendance investigate opportunities and based on discussions during the event and follow up activities, I believe we achieved our goal. The success of this event was far great than I had imagined."

Within a week of the event, Browse3D, known for its next generation web browser with a graphical interface for viewing and searching the Web, signed an evaluation license for VRoom, one of MITRE's technologies showcased. More transfers are expected as a result of the event.

"The Technology Showcase allowed us to view several interesting new technologies, meet with the engineers that developed the technology and discuss potential business agreements," said Bob Randa, COO at Browse3D. "It is difficult to keep up with all the new technologies, and the event was a great way to quickly get an evaluation agreement in place." MITRE's Technology Transfer Office Director, Gerard Eldering, notes that "although this was the first time MITRE and CIT held such an event, the attendance and interest in available technologies clearly demonstrated a need in Virginia for more business opportunities like this. We are looking forward to being involved in more events like this in the future."

Plans are in the works to hold a fall Virginia Technology Showcase in the Hampton Roads area that would feature aviation technologies and advanced materials such as nanotechnology, photonics and sensors. To receive more information about this event, please email techshowcase@cit.org.

MITRE (www.mitre.org) is a not-for-profit national technology resource that provides systems engineering, research and development, and information technology support to the government. It operates federally funded research and development centers for the Department of Defense, the Federal Aviation Administration and the Internal Revenue Service, with principal locations in Bedford, Massachusetts, and McLean, Virginia. MITRE frequently makes new technologies, available for licensing. Anyone interested in pursuing a license for available technologies should contact Gerard Eldering, MITRE's Technology Transfer Office Director at (703) 983-7132.

Browse3D Corporation (www.browse3d.com), located in Northern Virginia's Dulles Technology Corridor, is a software company developing products for quickly finding, organizing, saving and exchanging Web-based content. The company was founded in 2000 with funding from angel investors and In-Q-Tel, a private not-for-profit "venture catalyst" charted by the CIA. Browse3D uses reverse-plug-in^TM technology to transform a standard two-dimensional Web browser into a highly functional three-dimensional tool.

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