Boston University School of Management Announces the Michael Bronner e-Business Center and Hatchery.

Business/Technology Editors and Education Writers

BOSTON--(BUSINESS WIRE)--Feb. 23, 2000

"Remain in School While Becoming an e-Business Entrepreneur."

The School of Management at Boston University today announced an innovative e-business initiative, the Michael Bronner e-Business Center and Hatchery. The new concept first establishes a Center in which students can develop new business ideas under the supervision of faculty as part of their educational experience. Secondly, the initiative creates a separate Hatchery that allies students with the hands-on leadership of successful business executives and venture capitalists to help launch and nurture e-business ideas with financial assistance and managerial experience.

"My purposes in helping the School of Management launch the Center and Hatchery are to help students with innovative business ideas while encouraging them to remain in school and complete their education as they become e-business entrepreneurs," Michael Bronner said.

A former Boston University School of Management student, Mr. Bronner has built one of the leading internet professional services firms, Digitas (formerly Bronnercom and Strategic Interactive Group), with more than 1200 employees. Digitas provides integrated Internet based strategic, technological and marketing solutions to industry leaders. The firm's billings of $1.3 billion are from 15 Global 100 clients, including American Express (NYSE: AXP), General Motors (NYSE: GM), Amazon.com (NASDAQ: AMZN), AT&T (NYSE: T), and Dell Computer, (NASDAQ: DELL).

"We're grateful for Michael Bronner's vision and encouragement in helping us launch these initiatives," said Louis E. Lataif, Dean, Boston University School of Management. "This new Center will enable our faculty to promote new learning about e-business ventures and the Hatchery will provide both capital and management guidance for student start-ups."

Mr. Bronner has invited venture capitalists to get involved with the Hatchery. "I have talked with venture capitalists who are committed to management education and who want to help support student-generated businesses," he said. "These investors have separately agreed to gift to Boston University School of Management 10% of any equity position they might take in these business initiatives. To my knowledge, this approach is unprecedented in American higher education."

The goal of the venture capital investors is to provide critical support and capital to maximize the success of the Hatchery startups. According to David Fialkow, a principal of General Catalyst, one of the committed venture capital firms, "With the support and guidance of the faculty at Boston University School of Management, these startups will have a greater opportunity to become successful. We are excited to participate in this revolutionary concept."

Mr. Fialkow has agreed to chair the investment committee of the Hatchery. He and Mr. Bronner have also gained the support of representatives from Highland Capital, Softbank, Charles River Ventures, and New Profit as members of the investment team.

"This School of Management is uniquely positioned to take full advantage of Mr. Bronner's initiative," Dean Lataif continued. "Entrepreneurial students and dedicated faculty will come together to give life to new business ideas. All of this will happen in the most technologically sophisticated management school facility in the country. "

The Center's faculty Steering Committee will select the most qualified ideas from the submissions by student teams. This process will take place electronically over the School's Intranet.

"We will select up to 12 projects per semester," Dean Lataif commented. "When student teams have successfully completed their plans under the supervision of a member of the School's faculty, they can seek independent outside capital or, if they choose, they can request that their plan be presented to the Bronner Hatchery group of venture capitalists.

Founded as the College of Business Administration in 1913, the Boston University School of Management educates future global business leaders in the interdependencies of organizational functions, cultures, and ideas. The School offers an undergraduate degree in business administration; full-time and part-time M.B.A. programs; specialized M.B.A. programs in Health Care Management, Public and Nonprofit Management; eight dual-degree M.B.A. programs; Master of Sciences programs in Information Systems and Investment Management; a Doctoral program; and executive education programs.

NOTE: Photographs are available upon request.