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Robert Storey Joins VIC Technology Venture Development as Executive in Residence

Fayetteville, AR (PRWEB) February 14, 2013

VIC Technology Venture Development (VIC) is pleased to announce that Robert (Bob) Storey has joined the company as Executive in Residence. Mr. Storey will assist in the assessment and creation of new ventures, then serve as interim CEO for newly formed portfolio companies, especially those focusing on medical devices and engineered materials. In managing these companies, he will provide expertise in business development, marketing, and corporate strategic planning. As CEO for VIC’s startup companies, Mr. Storey will not only manage their operations but will also oversee the development and execution of key commercial milestones, such as resource plans, funding, and recruitment of permanent CEOs and management teams.

“We are indeed fortunate to add Bob’s considerable talents to our development team,” said Calvin Goforth, President and Founder of VIC. “His energy and contributions to the efforts of our young technology companies have been immediately apparent.”

Mr. Storey is no newcomer to the art of new business development. He has over 30 years of experience in this field, especially with startups in regulated industries. Most recently as Executive-in-Residence at Johns Hopkins University, he has helped commercialize technology developed at the University Medical School and the Whiting School of Engineering.

After earning degrees in chemical engineering and chemistry at the University of Arkansas, Mr. Storey took a job with Exxon Corporation. His path led from the Technology Center to Exxon’s American Headquarters in Houston, where he worked in business planning and mergers and acquisitions. He advised Exxon’s Corporate Controller, the Sales and Marketing division, and the leadership of Exxon’s international joint venture with Mitsubishi Petrochemical.

In 1994, Mr. Storey left Exxon to become Vice President and General Manager of a privately held engineering company in Maryland. He led the company through a successful sale to Clariant Corporation of Switzerland, where he served as Vice President of Clariant’s Performance Plastics division.

In 1999, Mr. Storey led Vapotherm, a Maryland company, as President and CEO. The firm, which specialized in non-invasive respiratory devices, received the U.S Commerce Department’s Export Achievement Award, the Maryland World Trade Center International Leadership Award, and Deloitte’s Technology Fast 500 award, four times.
Mr. Storey currently serves on the Dean’s Advisory Council for the University of Arkansas's School of Engineering and is President Emeritus of the Arkansas Academy of Chemical Engineers. He is a Board Member and past President of the Maryland Upper Shore Manufacturing & Business Council, and served on Chesapeake College’s Presidential Search Committee.

About VIC:

VIC Technology Venture Development, LLC is a technology venture development firm that creates innovative new companies with world changing science and engineering based technologies. VIC carefully selects, then licenses technologies from universities and research institutions, then partners technology entrepreneurs with business experts, technology experts and seed stage investors. VIC provides its portfolio companies with senior management expertise, intimate knowledge of technology startups, and proven processes to execute business strategies. Its team members bring extensive experience across legal, financial, operations, marketing, capital acquisition, and technology management areas. VIC experts help their portfolio companies meet management and business planning goals by providing appropriate support at each stage in their development, only as it is needed.

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