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Color Savvy Repositioning for Future Growth.  Color Savvy Systems, Limited, located in Springboro, Ohio is repositioning itself strategically by seeking new markets for its LED color measurement technology.
Color Savvy began operations in 1991 by marketing its line of inexpensive color measurement instruments such as colorimeters, densitometers, and spectrophotometers to the graphic arts and commercial printing markets. Recently, the company and its new CEO, Gary Bodnar, have identified new opportunities in "Digital Color Sampling Systems." Such systems, as Bodnar explains, help consumers make buying choices that involve color. The precise color of paint, wallpaper, and fabrics can be measured by these instruments, and these measurements are used to find matching colors. NCIC believes these broad, new markets hold promising opportunities for Color Savvy!

Privatizer Expands Board.  NCIC CapitalFund's portfolio company, Privatizer Systems, has recently expanded its board to five seats as the company begins ramping up its sales efforts and exploring several international markets. Included on the board will be local businessman and entrepreneur Stan Smith, Privatizer President Bob Nadeau, and David Yarborough, Chief Financial Officer for Gem City Engineering. Representing NCIC CapitalFund will be Brian Hammond. NCIC is currently reviewing candidates to fill the last spot on the Board of Directors. Privatizer Systems manufactures paper handling products utilizing proprietary technology. The company is located in Dayton, Ohio.


Bowman Speaks at the University of Dayton.  On September 12, 2001 Bob Bowman shared his experience in reviewing Business Plans with the MBA students at the University of Dayton. The MBA class entitled "Managing New Ventures" is comprised of 20 MBA students, eight of whom are exchange students from various European countries. Local entrepreneur, John G. Fitzpatrick of Marks Travel Service, teaches the class. Students were particularly interested in how to write an effective business plan, and Bowman's insight into what investors look for in a business plan. Bowman explained that most business plans do not contain adequate support for the assumptions made by entrepreneurs. He stressed the need to do extensive marketing research to support the value proposition of the product or service, and to establish a foundation for an effective marketing and sales plan. This is the one area of most business plans, which is usually underdeveloped. As Bowman explained, the lack of a believable, achievable marketing plan is a "red flag" to potential investors.

NCIC works with Junior Achievement.  In October, Brian Hammond began volunteering in Heidi William's eighth grade class at Spinning Hills Middle School as part of the Junior Achievement program offered by the school. Brian is instructing two programs; The Economics of Staying in School and Enterprise in Action, two of Junior Achievement's standard offerings. The purpose of Junior Achievement is to educate and inspire young people to value free enterprise, business, and economics to improve the quality of their lives.


I-Zone Kicks Off Contest.  As the I-Zone continues to promote the creation of new technology enterprises they began their $100,000 business plan competition at the Engineer's Club on October 10. Brian Hammond was pleased to offer a two-hour self- assessment workshop for the participants entitled, What Every Entrepreneur Needs to Know. The workshop takes the entrepreneurs through a series of situations and exercises aimed at highlighting potential hurdles they may face as they start their enterprise. It is intended to help the individual take a realistic look at their idea, their market, and most importantly themselves. The standing room only event attracted more than one hundred participants. The next scheduled event is planned for November 14. More information can be found on the I-Zone home page www.i-zone.org.


We would like to advise you that Tom Hughes has resigned his position as the NCIC CapitalFund Technology Manager. Tom has chosen to pursue other interests and the NCIC Board and staff members wish him much success in his new endeavors.

In the interim, Tom's responsibilities will be divided among the NCIC Staff to ensure that effective service will continue to be provided to our partners and Portfolio companies.


We welcome your comments, suggestions or an addition or change to our mailing list, please contact: Becky Ziehler at rziehler@ncicfund.com