There is an angel in town with its eye on the University of Pennsylvania, and two of our alumni teams recently benefited from its keen vision and generous hand. MentorTech Ventures, an early-stage venture capital fund formed last year by former W harton senior lecturer and serial technology entrepreneur Michael Aronson (W'78) and Boris Kalander (WG'88), recently invested in Adnan Aziz's First Flavor and Kunal Gupta and Rishi Bhat's Fone2Fone.

MentorTech Ventures invests in information technology, marketing technology, and medical device companies out of Penn. MentorTech’s investors include many alumni of PENN and distinguished individuals throughout the Commonwealth of Pennsylvania. Leveraging the talents of advisors like Wharton Professors Len Lodish, David Reibstein, and Professor William Hamilton of the Management and Technology Program, the firm also brings substantial intellectual and social capital to the companies they support.

The roads that led our student inventors to this important investor began at the Weiss Tech House and were paved with Penn alumni. Both First Flavor and Fone2Fone were recipients of the Weiss Tech House Innovation Fund grants that covered operational costs and helped them set up their businesses. Both students met business mentors at the Tech House who helped guide and shape each company's direction, eventually connecting them with Mr. Aronson.

Adnan Aziz (SAS/SEAS ’05) met Jay Minkoff (WG’83) and Josh Kopleman (W’93) through the Weiss Tech House network. Both successful entrepreneurs in their own right, Jay Minkoff was the cofounder of Home Marketing Solutions and Tri-State Publishing & Communications, and Josh Kopelman co-founded Infonautics, Half.com and First Round Capital, the pair became valuable mentors to Adnan. Their advice helped Adnan evolve his idea for creating a line of edible artwork into a revolutionary edible marketing system for food, beverage and OTC healthcare products. Shortly after graduation, Adnan founded First Flavor, Inc. where he currently serves as the company’s Executive Vice President. Jay Minkoff is First Flavor’s President and CEO and Josh Kopleman serves as Chairman.

Well connected to the local Penn alumni network, Josh Kopleman arranged a meeting between Jay Minkoff and Michael Aronson, Penn alum and former professor in the Wharton Business School. At their first meeting the two realized that Jay had been a student of Professor Aronson while at Wharton. Eventually, they came to an agreement, and First Flavor received a substantial investment from MentorTech Ventures to further develop their product.

Kunal Gupta (M&T '04) and Rishi Bhat (SEAS'05/MS'06) met at the Weiss Tech House and worked together on a their idea for a new mobile phone application that helps users manage their information. The duo was first introduced to Mr. Aronson through Penn Alum Ken Seif (W’85), who had also been a student of the good professor. After the initial pitch, Gutpa and Bhat kept in touch with Mr. Aronson, answering questions and keeping him informed throughout the development process. Six months later MentorTech Ventures invested in their the company allowing the team to fast track their plans.

"The people I've met at Penn, through the Weiss Tech House and Wharton, share the same entrepreneurial spirit and have all been very willing to meet and offer suggestions," said Mr. Gupta.

"I really enjoy working with these two companies," said Mr. Aronson, "there is a spark of inspiration that you find in the relatively young and a willingness to 'roll up their sleeves' and put in their time."

First Flavor recently launched its patent pending Peel 'n Taste™ edible marketing system and expects the product to be in stores in early 2007. Fone2Fone expects to make a commercial launch in six months.