Potomac Council Comes Back From the Dead
Potomac Council Comes Back From the Dead Ed Bersoff By Bob Starzynski Staff Writer One year after emerging from dormancy, the American Electronics Association's Potomac Council is garnering a lot of attention in the Washington region. In the past year, the local arm of the national association has increased it
Potomac Council Comes Back From the Dead
By Bob Starzynski
One year after emerging from dormancy, the American Electronics Association's Potomac Council is garnering a lot of attention in the Washington region.
The organization's big issues of the day include immigration of workers, Internet taxes and computer security. And most of the technology companies in the Washington area are in the information, software and Internet businesses - right in line with AEA's issues. "Now, the association's issues are of more direct relevance to the companies here," Bersoff said. Also, many of the companies in the Washington area have gone public in the last five years, giving them interest in events like the classic. So, last summer, Carroll decided to launch the Potomac Council again, making it one of 17 regional groups headed by the AEA. Unlike the last go around, the council does not focus any effort on networking. Carroll believes that the Northern Virginia Technology Council and the High Technology Council of Maryland already fill the networking niche well and that competing against those organizations would be a waste. Instead, the council is pushing AEA services as its big selling point. "I always encourage tech companies to participate in [the classic] because of the great cross-section of investors there," said Gene Riechers, managing director of FBR Technology Venture Partners, the venture capital division of Friedman, Billings, Ramsey & Co. in Arlington, Va. Riechers also is on the steering committee for the Potomac Council. Some companies, like Landmark Systems Corp., a Vienna, Va., software firm, joined AEA simply because membership is a qualifier for participating in the classic. All of the more than 400 companies that present at the conference are AEA members. The classic is so important in investment banking circles that Landmark suspended its initial public offering roadshow for two days last year because most analysts and investment fund managers in the company's market were attending the event, according to Kathy Clark, chief executive officer of Landmark. In addition to the classic and policy issues that the AEA supports, the organization's data and studies are worthwhile to members.
Carroll said he would like the Potomac Council to continue its rapid growth and is setting his goal at signing up more than 200 companies. Currently, the two largest AEA councils are the Bay Area Council, with 947 members, and the Boston Council, with 220 members.
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