CONNECT Announces New Vision to Enhance Economic Growth of San Diego Region; New Structure Allows CONNECT to Become More of a Neutral Broker in New Company Formations.

SAN DIEGO -- CONNECT, a University of California, San Diego-based technology accelerator, has developed a forward-looking plan to increase its membership and become more inclusive of San Diego's broad base of research institutions. To fulfill this role, the CONNECT leadership, UCSD, and an advisory board made up of San Diego's most respected business leaders have concluded that CONNECT can more effectively serve the region as an independent entity.

As a 501(c)(3), CONNECT can be more of a neutral broker among all of San Diego's tech/bio organizations while maintaining its traditional role as a cross-disciplinary catalyst for the formation of new companies. To strengthen CONNECT, the intent is to build an expanded, stronger, and more active board of directors whose members will come from the organizations, institutions, and associations that are essential to the growth of tech/bio companies in the region. The transition is planned for summer 2005.

Mary Walshok, Associate Vice Chancellor of Public Programs at UCSD and a founding member of CONNECT, stated: "From an economic standpoint, the region will benefit tremendously from CONNECT's more inclusive strategies. New companies attract new jobs and capital partners. Overall, the result will be a stronger global position for San Diego and California."

CONNECT originally evolved in 1985 out of a series of conversations among the University and community leaders about the need to create new, science-based companies. Within a year of its inception, CONNECT had attracted Bill Otterson to be its director. Otterson's passion and imagination guided CONNECT's growth for nearly fifteen years.

Since its formation, CONNECT has assisted more than 800 companies. "CONNECT will continue to perform its public service mission of helping high tech and life science businesses get started in San Diego," Walshok emphasized.

Duane Roth, Executive Director of CONNECT, said: "CONNECT is a regional asset that is needed more today than ever. Moving ahead, CONNECT will get into innovation earlier, and support it later, through programs like Springboard, the Most Innovative New Products Awards, and the new CONNECT Hall of Fame."

Since Roth assumed the leadership of CONNECT in 2004, the organization has increased its membership by more than thirty organizations, increased its base of financial support, and revamped its programming in order to become more responsive to the changing needs of regional tech/bio companies.

UCSD Chancellor Marye Anne Fox noted: "The University remains very supportive of CONNECT's mission. With equal representation from all the research institutions, CONNECT will better serve the region. The University is proud to know it has provided the community an innovative platform to grow and diversify."

CONNECT is a technology business accelerator, founded by the University of California, San Diego, dedicated to the creation and sustained growth of innovative, science-based companies whose success will contribute to the prosperity of the San Diego region. CONNECT's services are tailored to meet the varying needs of San Diego entrepreneurs at all stages of their business life cycles and growth. CONNECT's programs serve as a catalyst for the development and exchange of ideas, a forum to explore new business avenues and partnerships, and an opportunity to network with peers.