WireSpring joins Cenetec Accelerator as newest client company
WireSpring is first graduate of Cenetec's new QuickStart program for emerging technology companies
August 1, 2001, BOCA RATON, Fla.-- WireSpring Technologies, a developer of software that advances the performance and cost-effectiveness of interactive information terminals, is the latest client to enter the accelerator program at Cenetec, the technology accelerator company. WireSpring joins Cenetec after successfully completing QuickStart, Cenetec's new 90-day, pre-acceleration program.
Bill Gerba, WireSpring's CEO, and Jeremy Zaretzky, the company's president, formed WireSpring in May 2000. Their product line includes operating system software as well as an easy-to-use web-based management solution for interactive information terminals. FireCast, the company's core software product, is designed to make it easy for businesses to deploy and manage interactive terminals, or kiosks, to improve customer satisfaction and increase revenues, while reducing staffing costs.
Applications for WireSpring's technology include brand marketing, public Internet access, distance learning and corporate training, as well as customer service and product support. Businesses that can benefit from these applications include retail stores, banks, transit hubs, and manufacturing concerns.
After learning about Cenetec at a technology group networking event, Gerba and Zaretzky, both Duke University graduates, applied to Cenetec in March and started the QuickStart program May 1st.
"Research has shown that businesses who interact with their customers through multiple channels derive significantly higher revenue per customer. WireSpring's products make it easy for companies to bring the personalization and efficiency of their online channel into brick-and-mortar locations, without the reliability and security drawbacks of existing solutions," said Zaretzky.
"Cenetec's QuickStart program gave us the opportunity to confirm how WireSpring fits into this market," Zaretzky continued. "Cenetec already has added tremendous value to WireSpring. They have helped us begin to establish a reseller channel, refine our business plan summary, begin to access capital and recruit several experienced advisors. We're excited to enter the full acceleration program."
Cenetec CEO and Chairman William D. Hager said, "QuickStart enhances Cenetec's continuum of services to help companies move rapidly from the earliest stages to market launch. The criteria for a Cenetec candidate, whether for QuickStart or full acceleration, are the same - pioneering, proprietary technology with substantial market potential and a solid, highly committed management team."
Cenetec's QuickStart pre-acceleration program helps emerging technology companies test the market. It prepares companies to approach angel investors, facilitates investor presentations, executive summaries, and business and financial plans. Cenetec's comprehensive acceleration program, averaging six to nine months, takes companies to the next level; ready to enter the marketplace and tap Venture Capital funding.
Hager said WireSpring made the most of its QuickStart opportunity and has the potential to emerge from the acceleration program as a significant player in a fast-growing market. "As companies seek to reduce costs and increase per-customer revenues, interactive information terminals are an important tool," he said.
Market research conducted by the firm Frost and Sullivan reported U.S. interactive information terminal sales were $415 million in 2000 and are expected to reach $2.2 billion in 2006. In addition to strong domestic demand, the world market accounted for $850 million in sales in 2000 and is expected to exceed $3.2 billion by 2006.
Last updated: July 23, 2005