Redesigning the Business Model - Interactive Case Study: Valid Technologies, LLC

hosted by MIT Enterprise Forum of South Florida and Florida Atlantic University

Florida Atlantic University, FAU Alumni Center, Marleen and Harold Forkas Alumni Center, 777 Glades Road Building FA 94, Boca Raton

Wednesday, Jun 23 2010 6:00 PM

  • Redesigning the Business Model - Interactive Case Study: Valid Technologies, LLC

    When:       Wednesday, June 23, 2010, Registration and Networking, 6:00 PM - 7:00 PM,
                      Presentation and Discussion 7:00 PM - 8:00 PM

    Where:      Florida Atlantic University, FAU Alumni Center, Marleen and Harold Forkas Alumni Center,
                      777 Glades Road Building FA 94, Boca Raton.
                      Click here for directions

    CEO Roundtable will feature:

    • Greg Faust, Co-Founder of Valid Technologies.
    • Joel Ledlow, CEO of ScheduAll.  
    • Riaz Merchant, Founder and CEO of Mertech Data Systems, Inc.
    • Mark Patten, Principal at Crossbow Ventures.  
    • Albert B. Maggio, Jr. (Moderator), is Of Counsel to Carey, Rodriguez, Greenberg & Paul, LLP.

    How does an early stage company re-design its business model?  When is the time to adjust a successful product focus for the promise of a better one?  Which model provides better access to capital?   

    Join a real time experience and live presentation by a company as it prepares to evolve in a new direction.  Our interactive case study features a local biometric authentication company.  You participate in the "real-time"  analysis, deconstruction, and re-engineering of the business model of an emerging technology company that has been generating revenue. The dialogue between the company, panelists, and audience will provide an inside look into the dynamics of business evolution.

    Learn the views of the seasoned entrepreneurial CEO's and a venture capital principal on subjects such as:

    • How do you decide whether to remain a service provider or become a standard product company
    • Where is the greater value opportunity?
    • Should you really say "no" to your customers and partners?
    • What are the optimal distribution channels?
    • How do you attract investors?

    Join us at FAU's Boca Raton campus on Thursday, 23 June.  Registration and networking are from 6 to 7 PM.  The interactive panel discussion will run from 7:00 PM to 8:00 PM.

    More about the panelists:

    Greg Faust is a co-founder of Valid Technologies located in Boca Raton.  Valid was formed in 2004 to develop commercial applications of biometric technologies, specifically targeting enterprise computing needs for security, compliance, and user productivity.  The product offerings, known as VSSA, provide IBM tested and approved solutions for biometric log-on, single sign-on, and transaction level user authentication within virtually any program.  Valid developed marketing and strategic alliance programs with multiple companies, including IBM, Motorola, SecuGen, and Upek.  Dealers for VSSA come primarily from the ranks of IBM’s global reseller network.

    Prior to joining Valid, Greg was an area manager for regional banking and trust organizations.  He also served clients of global advertising agencies, including divisions of J. Walter Thompson and Young & Rubicam.

    Greg holds a B.A. and M.P.A. from Syracuse University, and an M.B.A. - C.A.I.S. (Computer Applications and Information Systems) from the N.Y.U. Graduate School of Business Administration.


    Joel Ledlow is CEO of ScheduAll.  Prior to that, Mr. Ledlow was CEO of Acarra. Joel Ledlow has over 19 years of executive-level sales, marketing and business development experience with an emphasis on recognizing emerging markets and implementing scalable best practices that significantly improve stakeholder value. He also served as VP for CyberGuard Corporation (NASDAQ:CGFW) where he was responsible for globally re-engineering the company's sales and marketing message, implementing aggressive channel and alliance growth strategies and exponentially growing top line revenues for the organization's largest sales division worldwide. During his tenure CyberGuard became profitable, revenues grew more than 400% and share price increased from $1.30 to over $12.

    Before joining CyberGuard, Mr. Ledlow served as CEO/President of TouchPoint, a boutique-consulting firm, providing learning system and business development services to numerous Fortune 500 companies.  Ledlow positioned and sold the company to GCG, a national business development-consulting firm later that same year.

    Ledlow earned his Bachelors degree in Business from Lynn University where he graduated with top honors, and has earned numerous leading "advanced executive certifications" in the fields of Sales, Strategy, Management, Negotiating, Quality of Service, and Technology.


    Riaz Merchant
    is the founder and CEO of Mertech Data Systems, Inc., the leading provider of specialty, high-performance database connectivity drivers. Mertech’s product allows companies to switch their enterprise databases without re-engineering their application source. Founded in 1997, Mertech has established a worldwide presence, powering mission critical applications at over 7000 companies in 24 countries.

    Riaz has a Master’s degree in Computer Engineering from FIU, where he published several papers related to application of artificial intelligence to power load forecasting. 


    Mark Patten is a Principal at Crossbow Ventures.  Mark has been with Crossbow Ventures for 10 years, and currently serves as a Principal and Member of the Firm’s Investment Committee. During his time with Crossbow, Mark has been part of deal teams responsible for investing over $100 million of the Firm’s committed capital focused primarily on early and expansion stage companies in the Southeast US. Mark has spent the majority of his time working on portfolio matters as well as conducting due diligence on opportunities across a range of the Firm’s preferred industry sectors. He is currently responsible for portfolio company management, deal origination and evaluation and Limited Partner reporting. Mark is also a former Director of ScriptRx (Florida-based Healthcare IT company) and InfoDesk (New York based SasS company) on behalf of Crossbow.

    Mark is also involved in Florida’s Investment and Entrepreneurial community, having served as  a ‘Presenter Coach’ for companies presenting at the Florida Venture Capital Conference, participating on panel discussions for various organizations to discuss venture capital for early stage companies and serving as a judge for both the Annual Business Plan Competition and  Venture Capital Investment Competition (VCIC) at Florida Atlantic University. For the past three years, Mark has also been the ‘VC Coach’ for the MBA students participating in the competition.

    Mark earned his BS in Business Administration from Methodist College, received an MBA from Florida Atlantic University and is a Graduate of the Venture Capital Institute.


    Albert B. Maggio, Jr. (Moderator) , is Of Counsel to Carey, Rodriguez, Greenberg & Paul, LLP, a boutique law firm focusing on intellectual property transactions and litigation and other complex commercial litigation. He is also the principal of Scopra, a consultancy focused on providing ethics, compliance, due diligence, and IP verification services to technology, venture capital, and investment banking firms.

    Prior to his admission to practice law, Mr. Maggio held sales and management positions with several major computer companies, where he was responsible for managing strategic relationships with their largest accounts. He is currently vice president and a member of the board of directors of the South Florida Technology Alliance (SFTA), an executive committee member of the MIT Enterprise Forum of South Florida and a board member and secretary of Il Circolo – The Italian Cultural Society of the Palm Beaches.

    Mr. Maggio received a J.D., cum laude, from the New England School of Law, an M.B.A. in international marketing management from the Lubin School of Business at Pace University and a B.S. in marketing and international business from the Stern School of Business at New York University.

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