Virtual Incubation Company Announces Expansion and Forms Atlantic VIC
Bernie Prusaczyk, Accomplished Technology Entrepreneur, to Lead Sister Entity Headquartered in Waltham, Massachusetts
FAYETTEVILLE, Ark.– Oct. 12, 2011 – Virtual Incubation is pleased to announce the formation of Atlantic Virtual Incubation Company, LLC (Atlantic VIC). The company has tapped a 25 year technology entrepreneur, Bernie Prusaczyk, as the firm’s President/CEO. The establishment of Atlantic VIC in the East and the appointment of Mr. Prusaczyk further the geographic and developmental reach of the VIC/AVIC model to launch new technology ventures in the broad arenas of science and engineering.
Virtual Incubation Company (VIC), a technology venture development firm, brings together the essential elements needed to establish new technology ventures and maximize the opportunity for product development and commercialization success. VIC provides its portfolio companies with senior management expertise, intimate knowledge of technology startups, and proven processes to execute business strategies. Its team members bring extensive experience across legal, financial, operations, marketing, capital acquisition, and technology management areas. By providing an exceptional team that spans all the essential disciplines needed to maximize the opportunity for success, but spreading that team across multiple companies, a highly efficient approach has been proven for development of companies based on innovative technologies licensed from universities and federal laboratories. Atlantic VIC (AVIC) will build upon this proven model and focus on developing companies that have large market opportunities, multiple applications for their core intellectual property, and top-of-their-field technologists. With its geographic presence on the Atlantic seaboard, a very target-rich environment, Atlantic VIC is well positioned.
“Mr. Prusaczyk brings an accomplished background in several industry segments to Atlantic VIC,” said Calvin Goforth, President and CEO of VIC. “His experience in executive management in both young entities and smaller divisions within multi-national corporations gives him a unique skillset to help drive our AVIC operation and lead new portfolio companies on the right paths to success. “
“I am very pleased to be a part of the expansion model for VIC, “ said Prusaczyk. “Their unique model for identifying promising new technologies and successfully commercializing those technologies is needed in the Northeast where many great technologies abound, but are in need of the right partners and methods to move them from dreams to reality.”
Prusaczyk comes to AVIC with over 25 years of executive leadership experience. He has been on the management teams of both startups and Fortune 1000 entities. He has held roles in general management, international sales and marketing as well as business development. While serving on the executive teams of the startup entities, Prusaczyk helped move them to successful exits with acquiring companies and or partners. Of note in the start-up arena, Mr. Prusaczyk's general management and sales leadership helped grow a division at Agfa (now Monotype Imaging) from less than $2MM to over $30MM during his tenure. Mr. Prusaczyk led three of Polaroid's New Business divisions as the sales and marketing leader – holography, eyewear and a cellular phone venture. In 1999, Mr. Prusaczyk joined NuGenesis Technologies as vice president of Worldwide Business Development and Channels, helping the company grow from $0 to $25MM and exited with the successful sale to Waters Corporation in 2004. Later in 2004, Mr. Prusaczyk then established a European business intelligence entity in the US, Orenburg USA (now BOARD), as VP of North American Operations. He also helped position Easy Ask for a strategic exit and then was VP of Sales and Marketing, after the company was acquired by Progress Software. In the recent year, he returned to his passion of developing and leading young companies as Principal of Merrimack Valley Ventures, LLC. His breadth of experience spans many industries including medical devices, mobility software, life sciences data management, polymers, databases, e-commerce and printing technology.
Atlantic VIC (AVIC) is a technology venture development firm located in Waltham, MA.