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Jim Chung Named Director of MTECH VentureAccelerator
The Maryland Technology Enterprise Institute announces that Jim Chung has joined the institute as the new director of MTECH VentureAccelerator, the University of Maryland's initiative for helping faculty and students launch successful technology-based ventures.
Chung previously held the role of director of new business development for the Corporate Executive Board, where he helped build the company's mergers and acquisitions capabilities and contributed to the recent $59 million acquisition of ITtoolbox.
"Jim Chung is an outstanding addition to the MTECH family," said David Barbe, executive director of the Maryland Technology Enterprise Institute (MTECH). "His extensive investment, consulting and research experience in a variety of industries will enable him to effectively tap into the $400 million University of Maryland research engine and to form and grow high-potential, technology-based companies."
Prior to the Corporate Executive Board, Chung was vice president of Intervale Capital (formerly Cherington Capital), a private equity firm investing in middle-market manufacturing and service businesses in the oil and gas industry, where he helped execute the acquisition of Ulterra Drilling Technologies (formerly Rockbit International).
Chung spent five years prior to joining Intervale in the venture capital industry, most recently from incTANK Ventures, an early stage venture capital firm, where he served as managing director. He has experience leading or co-leading investments into medical device, software, and information technology companies, including investments in AgaMatrix Inc. and Nexaweb Technologies Inc.
Before entering the private sector, Chung was an academic researcher studying how business, government and academia work together to create new innovation in high technology industries. He has served as a research fellow at several institutions in his previous 10-year academic career, including Harvard University, the Massachusetts Institute of Technology and the University of Tokyo.
Chung also worked on various public and private sector projects in the U.S., Japan, and Korea, primarily in the defense, aerospace, computer, consumer electronics and steel industries.
With a bachelor's degree in political science with honors, and a master's degree in international policy studies from Stanford University, Chung is also a Ph.D. candidate on leave from MIT.
As director of MTECH VentureAccelerator, Chung is responsible for mentoring emerging firms formed by University of Maryland faculty and students in areas such as business plan development, feasibility studies, market analysis, financial modeling, recruiting teams, raising capital from equity, debt and grant sources, and assisting companies with joint venture transactions. He also identifies new opportunities for high-growth companies to be formed based upon university intellectual property.
About MTECH VentureAccelerator (www.va.umd.edu)
The MTECH VentureAccelerator Program, an initiative of the Maryland Technology Enterprise Institute (MTECH) in the A. James Clark School of Engineering at the University of Maryland, is a 12 to 24-month, intensive, hands-on venture creation program that launches and accelerates the growth of early-stage companies based on University of Maryland innovations. MTECH VentureAccelerator offers company founders intense, hands-on assistance with a range of new business processes, including market validation, business planning, staffing and initial funding through grants and/or equity investment.
September 18, 2007