March 10, 1999 - Albany, New York (USA)

With more ponytails and open-collar shirts in view than are normally found at a Capital Region business luncheon, the area's young and growing software industry patted itself on the back Tuesday. About 250 area software industry professionals, bankers and lawyers gathered at The Desmond hotel to give out awards to the area's fast-growing and most promising technology companies.

Just the turnout - more than twice 1998's luncheon - was indicative of the industry's rapid rate of growth and growing presence in the Capital Region, participants said.

"Events like this are critical in recognizing the hard work of thousands of people (in the software industry) and for the Capital Region to recognize what we're doing," said Eric Burnett, president of IA Systems Inc. of Colonie, which was given an award for "contributing to area job growth."

The company, which provides software to financial institutions, plans to add 10 positions this year and another 20 next yeartions this year and another 20 next year.

The theme of building awareness ran through remarks by several of the award presenters and winners. "I believe the Capital Region can do Tech Valley," said Frank Poore, president of Commerce Technologies Inc. of Albany. "It's not about talking, but about doing."

The five-person firm, founded 18 months ago, provides electronic data interchange services that allow companies to do business with each other over the Internet. Commerce Technologies was a winner of the most promising new enterprise award. Clients include Amazon.com and Wal-Mart Stores Inc.

Raising the name of now-fabled Austin, Texas, an internationally known technology hot spot, Poore said that region "has no better or smarter people. We have great local resources." But he, along with others, stressed the need for the Capital Region to build up its venture capital funding opportunities, so local companies can raise the money to grow.

From the podium and clutching his award, Poore made a direct plea to bankers in the audiencirect plea to bankers in the audience to take a close look at his company. He said outside the ceremony that the firm has just completed a new business plan and will be visiting financiers in the region and elsewhere in an effort to raise the capital to become competitive in its software niche. Joking that he might do better a better job of pitching his company if he grew a ponytail, Poore pointed out that at least he was not wearing a tie.

Several people lauded the casual and open nature of area software development firms, who are known for a monthly beer bash where they share ideas and network with each other at area pubs. The luncheon was put together by Center for Economic Growth, which many award winners praised for offering technical advice and support, and Capital Region Software Alliance, a regional trade group.