TechQuest program helps Dallas-area innovators find their perfect match

by Ruth Ferguson of North Dallas Gazette

Imagine speed dating – for business – and then you will understand Metroplex Technology Business Council’s (MTBC) TechQuest program. TechQuest aims to match hi-tech innovators with major North Texas hi-tech companies. So if you have a hi-tech solution or idea, TechQuest may just be the place for you to get it noticed.

Richardson-based MTBC is the largest technology trade association in Texas, and it wants to give these innovators the chance to pitch their ideas and solutions to key decision makers.

TechQuest program applicants typically range from hi-tech university researchers, inventive start-up companies, small to midsize companies, and individuals with great ideas they work on everyday in their home office. The common thread amongst them is their belief that if they could just present their idea to the right person, they could change the world.

Each quarter (except the summer), a leading high technology company is the host for the program. The company posts what it is seeking on MTBC’s website, and applicants can submit proposals and ideas in the hopes of being chosen to meet with company decision makers.

This quarter’s host is Alcatel-Lucent, and the deadline for submission is Oct. 16. So far, 20 applications have been received. Alcatel-Lucent partners with service providers, enterprises and governments worldwide, providing solutions to deliver voice, data, and video communication services to end-users.

Manuel Tellez is the research and marketing manager at MTBC. He serves as the liaison between applicants, the review committee and the hi-tech companies. Tellez said the program has seen success with the help of host companies including Texas Instruments (TI), Tektronix, Fluke Networks, and Raytheon.

TI was the first host company in the spring of 2008. They were interested in potential development partners in a wide range of application and technology areas including health electronics, Open Source software for TI platforms, RFID technologies, and semiconductors. Key executives from TI met with 10 applicants, and Tellez said the head of TI’s venture capital arm was so impressed with one presentation, they offered funding on the spot.

Tektronix and Fluke Networks were the host companies for fall 2008. They received close to 25 applications and met with eight companies. Raytheon was the host company this spring, and from their 25 applications they met with seven companies.

Applicants vie for the opportunity to present their hi-tech solutions to large companies. From these meeting, Tellez said, anything could happen. They could be offered funding, strategic partnership agreements, licensing or customer supply relationship, amongst other mutually beneficial relationships.

The key criteria the review committee considers Tellez said is uniqueness. “We try to determine what makes this so unique. If it is not unique, it is not innovative,” said Tellez.

Individuals, small companies or even start-ups should not be afraid to apply. In fact, Tellez added, they are encouraged. “All that matters is if you have an innovative idea,” he said.

Tellez has managed the program since its inception in 2007, and he said it has been an exciting venture for the host companies and applicants. “We have seen strategic relationships developed because of these meetings. They often continue discussions regarding future projects. Marketing expenses and efforts were cut dramatically for innovators seeking funding opportunities,” Tellez said.

And he said the host companies have been surprised to discover the talented innovation in their own backyard. Tellez said one TI executive commented, “They have traveled all over the world, but had it not been for TechQuest he would not have been aware of the local opportunities.” In fact, he was hopeful TI would launch a similar program in the locations they have around the world.

Tellez said that selecting a diversity of companies to host the program is important, ant they look to the wide variety of hi-tech companies in the telecom corridor for this. “If we selected several semiconductor related companies, it would not give software companies an opportunity,” said Tellez.

He is an active social media marketer, and this has brought applications and inquiries from Canada, Spain, the Netherlands, Ukraine, India, and Russia. And bloggers in India and Pakistan have featured the TechQuest program.

“We are heavily focusing on Linkedin. Facebook and Twitter are other tools we are using to heavily leverage the program,” said Tellez. He said that Google analytics confirms Linkedin is really producing results, with Twitter second in providing web traffic.

Social networking is a new initiative for promoting TechQuest, said Tellez. “In the past, we simply relied on email blasts to our members and them forwarding the blasts to their members,” he added. They also included announcements on their Website and in newsletters, which they continue to do.

The program is continually reviewed and refined. For example, Tellez said. the selection process has improved. “We have learned to work closely with the main point of contact at these companies. We have streamlined the application process. We have developed an orientation that successful applicants are asked to attend to help them prepare for the face-to-face meetings.”

A reception is hosted with the MTBC board members and high level executives of the host company. This informal gathering helps to break the ice for the applicants.

For this quarter’s TechQuest, Alcatel-Lucent is seeking innovative ideas in the mobile applications arena. There are currently over 35,000 mobile applications, and within three years mobile tools will exceed laptops.

Alcatel-Lucent is seeking applications and services that will benefit from improved connectivity, especially in these key areas: public safety; media and entertainment; eHealthcare; eLearning.

Tellez points out, “Mobile is much more than just a phone. Alcatel-Lucent wants to be a player in that market.”

This quarter’s application deadline is Friday, October 16. Applications are available at http://www.metroplextbc.org/Events/Tech-Quest-Program/Current-Innovation-Seeker.aspx. Application fee is $100 for an individual and $250 for a company. The fee helps covers the administrative costs of the program. If your application is denied, Tellez will provide feedback on why you were not selected.