NCIC Successfully Exits Two Investments
NCIC Supports Entrepreneurial Opportunities
NCIC Seeking Investment Opportunities
NCIC Out in the Community

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NCIC CapitalFund successfully exited its investment in Cedarville, Ohio-based Applied Sciences, Inc. in January. Since NCIC made its investment in August 1999, Applied Sciences, Inc. Applied Sciences and its subsidiary, Pyrograf Products, have successfully entered the commercial market with carbon nanofiber products.

"We have achieved several major milestones since NCIC CapitalFund provided their investment," according to Applied Sciences president, Max Lake. These milestones include: the construction of our pilot plant, fulfillment of commercial orders for Pyrograf® III, execution of a distribution agreement with a multi-national trading company, receipt of equity investment to fund growth and plant expansion, and creation of new jobs in Ohio."


NCIC recently received the final payoff of its 1995 investment in Masters Aerospace & Systems Group, Inc. This Cincinnati-based company, founded in 1991, had its sales roots in the Boeing 777 airplane program project where it created and commercialized the Avionics Development System, ADS 3000. The ADS 3000 software is used for simulation testing of multiple backup avionics systems located on most aircraft. Although Masters Aerospace ceased operations in 1996, NCIC was able to locate a small company in Munich, Germany, which agreed to license the software from NCIC. The German company achieved success with the ADS technology and the investment was paid off in December, 2001.


Innovest '02

INNOVEST '02 Right Around the Corner - The organizers of the INNOVEST Venture Capital Conference are once again gearing up for the annual event. INNOVEST '02 is scheduled for May 8 and 9, 2002 at the Crowne Plaza, Quaker Square in Akron, Ohio.

INNOVEST affords entrepreneurs and young companies the opportunity of presenting their plans for growth to institutional and angel investors. The Ohio conference's track record of stimulating investment has been impressive.

The deadline to apply for presenters who are looking for capital is February 28, 2002. Additional information can be obtained by contacting Brian Hammond at 937-253-1777 or going to the INNOVEST web site at http://www.innovest.org.

Congratulations to the I-Zone qualifers - NCIC CapitalFund would like to congratulate the ten winners of the first phase of the i-Zone I-Zone business plan contest. At their January 9 monthly meeting, I-Zone, co-director, Rob Miller announced the winners. Each received a $1,000 cash award and is eligible to participate in the second phase of the contest.

During phase two each company will be judged on a 15 - 20 page business plan. There will be six winners, each receiving $2,500. The ultimate prize for the winning plan will be $50,000. The winners of phase one include: EDAptive Computing, Fivepoint, IQC, KohlTek, Lighthouse Technologies, Ridge Software, Rosetta & Cornerstones, Synerbotics, Wright Software Solutions, and Wright State's Mechanical and Materials Engineering Department.


NCIC CapitalFund continues to look for co-investment opportunities. We consider investments in early stage technology-based companies that have a complete management team and are in markets that will support substantial growth over the next three to four years. Please feel free to contact Bob Bowman, Brian Hammond or Frank Winslow at 937-253-1777 to discuss any potential investment opportunity.


Bowman named to Board of Trustees. Bob Bowman, Vice President of NCIC CapitalFund, was recently elected to the Board of Trustees of the Leadership Dayton Alumnae Association. He will Co-Chair the Program Committee for the Board. 

Leadership Dayton Leadership Dayton is the premier leadership development program of the Dayton Area Chamber of Commerce. The program's mission is to identify, educate, motivate and develop a select group of Dayton area citizens for positions of community leadership. Each year, forty people from the community are chosen by the Chamber to participate in the ten-month program. Bob is a member of the 2001 graduating class.

The Alumnae Association is comprised of Leadership Dayton graduates. Its function is to continue the development of strong leadership skills and to provide a continual network for program graduates.


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