11/4/2002 - Agilent Technologies and GrowthWorks announced an agreement that is expected to help emerging companies by providing the capital, technology, and management resources to speed product development and time to market. The announcement allows portfolio companies, including startups, access to volume purchase advantages not otherwise available.
"By pooling purchasing power, we can offer Agilent's leading test and measurement equipment and help emerging companies obtain the tools and technologies they need to succeed," said Mike Phillips, senior vice president, Investment at GrowthWorks. "It is common for venture capitalists to identify and source capital for technology companies, and this alliance leverages our shared interests to assist in the success of companies in their nascent stages."
"Often start-up companies are unable to meet their window of opportunity due to the lack of tools and technology resources required for product design and development," said Steve Hall, Business Development Manager of Agilent's Emerging Business Team. "This agreement will enable access to Agilent's suite of products and solutions, which will help fill the void enabling faster design to market."
GrowthWorks is a recognized leader in venture capital fund management with proven expertise in raising and investing capital. Managing several funds, including the largest venture capital fund in western Canada, with a combined $475 million in assets under management, GrowthWorks has substantial capital resources and expertise. GrowthWorks has a team of skilled and knowledgeable investment professionals with a combined 200 years of experience. The Investment Team has a proven track record of identifying, structuring and making investments over 80 companies in the fastest growing sectors, mainly information technology, life sciences, advanced manufacturing and early stage investing.
About Agilent Technologies
Agilent Technologies Inc. (NYSE: A) is a global technology leader in communications, electronics and life sciences. The company's 37,000 employees serve customers in more than 120 countries. Agilent had net revenue of $8.4 billion in fiscal year 2001.
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