Atlanta’s Growing Startup Community

One of my favorite places to hang out in Atlanta is the Barnes & Noble/Starbucks at Georgia Tech. I enjoy meeting local entrepreneurs here because of its proximity to mid town and the Advanced Technology Development Center (ATDC).

ATDC is a start-up accelerator that helps Georgia technology entrepreneurs launch and build successful companies. Founded in 1980, ATDC has helped create millions of dollars in tax revenues by graduating more than 120 companies (Mindspring, RelevantKnowledge, Novient, Magnet Communications, Air2Web, Knowlagent, Fast-Talk, just to name a few), which together have raised more than a billion dollars in outside financing. ATDC has provided business incubation and acceleration services to hundreds of Georgia startups—most of which are not based on Georgia Tech research, but which benefit from the close proximity to the university.

Recently ATDC expanded its mission by merging with Georgia Tech’s VentureLab and with the Georgia SBIR Assistance Program. The change will enable ATDC to greatly extend its reach to serve more technology companies along multiple growth paths and at all stages of development. ATDC has opened its membership to all technology entrepreneurs in Georgia, from those at the earliest conception stage to the well-established, venture-fundable companies.

The team at ATDC is made up of seasoned entrepreneurs and investors dedicated to helping technology entrepreneurs succeed. This is similar to our model at OpenView Venture Partners via OpenView Labs with exception to exclusive focus on software companies at expansion stage. OpenView Labs provides operational support and serves as a catalyst in helping companies accelerate their growth and ultimately produce better returns for the company and its investors.

The primary lead at ATDC is Stephen Fleming, Vice Provost Enterprise Innovation Institute and Acting Director ATDC. Stephen has over 14 years of private equity experience and 15 years in operational roles at AT&T Bell Laboratories, Nortel Networks, and LICOM (a venture-funded startup). He has assembled an impressive team of entrepreneurs at ATDC as well as funding a mechanism for early stage start-ups.

Another great organization in Atlanta is the Technology Association of Georgia (TAG). TAG is dedicated to the promotion and economic advancement of the state’s technology industry and provides leadership in driving initiatives in the areas of policy, capital, education and giving. TAG also brings the technology community together through events, initiative programs and networking opportunities. Tino Mantella, President of TAG, has done an excellent job of establishing TAG as one of the premier technology associations in the country.

Several years ago, I served as President of the Southeast Software Association (SSA), a special interest group (SIG) under TAG. The SSA consists of high-tech and software professionals looking for ways to grow their business and future businesses within the Southeast. Members look for opportunities to network with other professionals for career advancement and possible partnerships. These professionals are interested in learning about new emerging technologies and how they might apply to their business or the creation of another business, in which they would seek funding. Naturally, this is an excellent organization to be associated with if you are an early to expansion stage investor.

Well, now that I have given you a little insight into Atlanta’s high tech community, I’m off to meet with a serial entrepreneur who introduced me to it all, Steve Bachman. Steve has thirty years experience in sales, marketing, operations, and corporate management in the technology industry with startup and fast growth technology product and service companies. Steve’s experience includes a successful track record with self funded and venture capital funded businesses, with multiple successes in creating shareholder value through profitable company growth and sale of businesses to McAfee, NetIQ, Computer Associates, Xcelerate, and Renaissance.

One of Steve’s recent ventures is AuditMyBooks, a software as a service (SaaS) solution that automatically analyzes small and medium business (SMB) accounting records to detect errors and possible fraud. This has become an increasingly important and growing problem in the industry and one that Steve hopes to tackle. I’m confident that Steve will assemble the right team and grow the business to a stage in which expansion stage capital from OpenView Venture Partners will help to accelerate their growth!