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Experienced Technology Executive Looks to Ventures West for Next Big Opportunity in the Ottawa Technology SectorFounder of SAGUS Security Inc. and DOMUS Software Ltd. joins Entrepreneur in Residence Program to extend Ventures West’s commitment to the development of Ottawa based technology companies Ottawa, ON, July 11, 2001, - Ventures West today announced that Richard Timmons, founder of SAGUS Security Inc. and DOMUS Software Ltd., has joined the company as an Entrepreneur in Residence (EIR). As an EIR, Mr. Timmons will work with Ventures West’s management team to seek out early-stage technology companies, based in Ottawa, which are seeking the management expertise and capital resources to grow into world-class technology companies. An Entrepreneur in Residence is a person who has an outstanding track record either as an executive or as a technologist and who joins Ventures West as an interim step to his next venture. The EIR program is designed to provide experienced entrepreneurs seeking their next business venture with the network, resources and tools to identify emerging market segments and business opportunities. Entrepreneurs in the program become part of the Ventures West management team and gain access to its operations and deal flow. While in the program, EIRs provide specialized management council to existing investee companies while networking and searching, through Ventures West, to identify new investee companies to join or to form. Mr. Timmons brings over 25 years experience in the technology sector with proven expertise in security and computer communications. Most recently, Mr. Timmons held the position of Chief Scientific Officer and General Manager of CyberSafe Canada Inc. where he was responsible for product direction and technology assessments of the company’s e-security solutions and service offerings. Prior to his tenure with CyberSafe Canada, Mr. Timmons was the founder of Ottawa based SAGUS Security Inc. and DOMUS Software Ltd. "Network security and communications is a very important sector that is being advanced and developed by a cluster of early-stage technology companies in the Ottawa region," says Robin Louis, President, Ventures West. "With a commitment to grow our presence in the Ottawa area, it is essential that we have seasoned professionals like Mr. Timmons on the ground that have the network in place to attract the high caliber of entrepreneurs and companies that Ventures West partners with." "Ventures West brings the capital resources and management expertise that allows for serious entrepreneurs to establish technology companies capable of competing on a world-stage," adds Timmons. "As an EIR, I will be exposed to a larger number of deals and be able utilize my experiences and knowledge in more of the great opportunities that are emerging as the next big things from the Ottawa tech sector." Mr. Timmons graduated in 1977 from Carleton University with an Honours Degree in Applied Mathematics. Over the past ten years, he has returned to University on a part-time basis to obtain a Masters Degree in Information Systems, and to complete all of the academic requirements for an undergraduate engineering degree. He is actively involved with university-based research in the telecommunications and security field.
About Ventures West Ventures West is a privately held venture capital management group that invests in young technology companies across Canada from offices in Vancouver, Toronto and Ottawa. It is one of Canada’s preeminent technology investment organizations with experience that spans over 120 technology companies. Ventures West’s investment focus is on companies in the eBusiness, Internet, telecom, biotechnology, and alternative energy sectors. Examples of portfolio companies are Angiotech Pharmaceuticals Inc., AnorMED Inc., Burntsand Inc., InSystems Technologies Inc., Linkage Software, FloNetwork Inc., Pivotal Corporation and Trimax Inc.
For more information contact: Richard Timmons Andrew Bowins |
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