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Friday, June 13, 2008
Georgia Research Alliance OKs new venture fund
The Atlanta Journal-Constitution
The Georgia Research Alliance, a public-private organization working to develop the state’s technological prowess, today agreed to launch a new fund to help finance promising new companies.
The GRA Venture Fund, which already has received a $7.5 million appropriation from the state legislature, will now seek private investors to meet the required 3-to-1 match. The goal is to raise $22.5 million by the end of the year from investors interested in supporting the development of technology in the state.
At the GRA meeting, several board members agreed to support the fund. Mike Adams, president of the University of Georgia, said his institution was willing to contribute $1 million to the effort.
Businessman Fred Cooper, who has been leading the effort to create the new fund, said he would give $500,000 and would seek other investors at that level. Jim Balloun, who helped establish the alliance 18 years ago, pledged to give $500,000. And developer Tom Cousins, who was an early chairman of GRA, pledged his support.
The GRA Venture Fund also has some other amenities for investors. The Georgia legislature also approved a 25 percent state income tax credit for private investors in the fund.
The fund will be invested primarily in start-up companies that have ownership, license or other rights to technology developed at Georgia’s six research institutions. The firms also would have had to have participated in GRA’s VentureLab commercialization program, which seeks promising new technologies that could have commercial appeal.
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Developer Cousins to get quality growth award
The Atlanta Journal-Constitution
One of Atlanta’s key city builders — Tom Cousins — will receive the prestigious Four Pillar Award from the Council for Quality Growth at a special gala on Oct. 2.
Tom Cousins, who founded Cousins Properties 50 years ago, has developed some of the city’s best known landmarks, including the 191 building, the Bank of America Plaza, the Wildwood Office Park, the first phase of the Georgia World Congress Center, CNN Center and the now demolished Omni Coliseum, among others.
Cousins is also known for his philanthropic contributions including the restoration of the East Lake Golf Club and the redevelopment of the East Lake community. He also has been a key player in countless civic organizations, including the Georgia Research Alliance, the University of Georgia, the Woodruff Arts Center, Central Atlanta Progress and the Metro Atlanta Chamber of Commerce.
The Council for Quality Growth awards the tribute to an individual who meets these four pillars: “Quality, Responsibility, Vision and Integrity.” The gala will be held in the Tom Murphy Ballroom at the GWCC.
Among previous winners: Post Properties founder John A. Williams, homebuilder John Wieland, U.S. Sen. Johnny Isakson, the late Gov. George Busbee and developers: Wayne Mason, Jim Cowart and Ray Weeks.
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ACA’s Ellen Meyer becoming president of the arts college in Nashville
The Atlanta Journal-Constitution
Nashville-based Watkins College of Arts & Sciences has named Atlantan Ellen Meyer as its new president.
At Watkins College, Meyer will succeed Dr. Jim Brooks, who is retiring. She will begin her tenure as president on Aug. 1 of the institution, the only independent college in Tennessee that offers Bachelor of Fine Arts degrees in Film, Fine Arts, Interior Design, Graphic Design, and Photography.
Meyer had been president of the prestigious 100-year-old Atlanta College of Art, once a division of the Woodruff Arts Center, for 14 years. But in 2005, ACA announced an agreement to be acquired by the Savannah College of Art and Design, which had opened an Atlanta campus. ACA ended up closing its doors in 2006.
During her time at ACA, Meyer oversaw a $15 million expansion of the college’s facilities including the building of a new dorm, and she initiated a $4 million technology campaign for arts and design education.
Meyer has had a long history in the arts world. Before becoming president of ACA, Meyer had served as director of continuing education and special programs at Rhode Island School of Design, vice president of marketing and extension at Minneapolis College of Art and Design, consultant to the National Building Museum, Washington, DC, and director of a ceramics program for the National Park Service.
Meyer left me a voice mail message telling me of her new post at Watkins saying: “I’m thrilled.”
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