Supply-Chain Software Developer Wins $200,000 E-scholarship Package

May 24, 2001

Contact:
Linda Knopp, PR Specialist
(740) 593-4154 lknopp@nbia.org

Ted Thien, President & COO
FulFill-Net Solutions, Inc.
(518) 276-4840 tthien@fulfill-net.com

TROY, N.Y.—FulFill-Net Solutions, Inc., of Troy, N.Y., won a $200,000 e-scholarship of hardware, software and consulting services during the Hewlett-Packard Business Plan Competition at the 15th International Conference on Business Incubation in San Jose, Calif., this week.

A panel of four venture capitalists selected the supply-chain software developer from among three Internet start-up companies that presented business plans at the National Business Incubation Association's (NBIA's) annual conference. FulFill-Net is a client of the Rensselaer Polytechnic Institute's (RPI's) incubation program.

Using the application service provider (ASP) model, FulFill-Net develops products to help small and medium-sized firms manage e-commerce, logistics, warehouse, order fulfillment, shipping, reverse logistics and supplier relationships. The company has also developed wireless bar-coding applications that interact directly with its products via the Internet.

Ted Thien, a former practice director at Oracle Corporation, started the company in February 2000 with Bruce Ludemann, a former Tripod, Inc., executive. After operating for about six weeks out of Thien's basement, FulFill-Net moved into RPI's incubator. "I believe in the incubator program," he said. "When we were looking for a place to start the company, we began with an open slate. We were drawn to RPI's incubation program by its flexibility, affordability and business support services."

Nationwide, business incubation programs catalyze the process of starting and growing companies by providing entrepreneurs with the expertise, networks and tools they need to make their ventures successful. The programs diversify economies, commercialize technologies, create jobs and build wealth.

Research shows that 87 percent of companies that graduate from incubation programs are still in business. Today, there are more than 800 of these programs in North America, up from 12 in 1980.

Hewlett-Packard recognizes exceptionally promising early-stage Internet start-up companies with valuable e-scholarships of products and services through the HP Garage Program. To select e-scholarship recipients, HP works with organizations that are widely recognized for their support of entrepreneurship, such as NBIA.

"Starting your own business is truly a roller-coaster ride. You can be up or down, depending on the day. This is definitely an up day," Thien said after being named winner of the e-scholarship.

FulFill-Net will use its e-scholarship to help equip a new Manhattan-based data center. FulFill-Net is relocating its servers from the incubator to New York City, so that the servers will be located on the backbone of the Internet to better serve clients, Thien said. The company will manage the servers remotely from its Troy, N.Y., location.

Other finalists in the competition were Marinalife LLC, a client of Baltimore's Technology Development Center, and ComMira E-Solutions Ltd. of the Women's Technology Cluster in San Francisco. A panel of incubator professionals selected the three finalists.

Headquartered in Athens, Ohio, NBIA is the world's leading organization advancing business incubation and entrepreneurship. It provides thousands of professionals with the information, education, advocacy and networking resources to assist early-stage companies.