January, 2007

Happy New Year

 

Venture Capitalists, mark your calendars for the 8th Annual D.C. Tech Council's Early Stage Capital Forum and the MIT Enterprise Forum Gala, both in late January. If you want to know "Where the Smart Money's Going in 2007" be sure to read the article below featured on Washingtonpost.com. Also, read all about the companies coming and going at the Chesapeake Innovation Center.

 

Entrepreneurs, is your business in need of $10,000? Or possibly more exposure and some expert mentoring? If you answered yes, then be sure to submit your entry into the Cupid's Cup Business Competition! Find out more!

 

Also, don't forget to take advantage of our Mentor Program which resumes regularly throughout the spring semester starting January 16. Dingman Center staff and experienced mentors are available every Tuesday from 8 - 11 a.m. The Dingman Center would like to say thank you to all our Mentors who volunteered their time and helped make the Dingman Center's Mentor Program a huge success!

 

Students, the Dingman Center is "Open For Business." We are excited to kick off Spring 2007. To start the semester off right, we are having a Dingman Day Lunch followed by an Open House for all interested students Friday, February 2. For more information contact Andrea Galati or Register Today!

 

Are you running a business and balancing being a student? If so, you should be rewarded! How does $10,000 sound? You may be eligible to enter the 2nd Annual Cupid's Cup Business Competition. To find out more, read below or contact Andrea Galati.

 

Also, don't forget to get your pitches ready for our weekly Pitch Dingman Review sessions which resume regularly throughout the semester beginning January 19 and continuing every Friday from 11:00 a.m. to 12:00 p.m. in 3570 VMH and our next $500 monthly competition February 9. Five minutes is all it takes to win $500! Read all about December 2006's Pitch Dingman winners. If they can do it, so can you!

 

And, if you're interested in hearing entrepreneurs pitch and give feedback, attend the Capital Access Network Review Day. Presentations are at 10:00 a.m., 11:00 a.m., and 1:00 p.m.

 

Other interesting links:

 

Upcoming Events

Upcoming January Events

 

CAN Breakfast (invitation only)
The CAN Breakfasts are by invitation only to angel investors who are qualified investors in the CAN network. Investors will have an opportunity to hear a 10 minute presentation from approximately four start-up entrepreneurs who are seeking funding for their business.  For more information on the CAN Program and to participate, contact
Melissa Carrier. The next CAN Breakfasts will be held January 10 and February 21.

 

Mentor Program Resumes! January 16

The Mentor Program at the Dingman Center for Entrepreneurship is an innovative consulting service for entrepreneurs and small-medium businesses that assists companies in identifying solutions to business problems with the support of experienced, senior management professionals. Office hours begin on September 19 and continue every Tuesday from 8:00 a.m. - 11:00 a.m. Contact Melissa Carrier for an appointment or for more details. Additionally, consultative services will be available for select companies looking for longer-term support from mentors at $250/hour payable to the Dingman Center.

Every Tuesday, 8:00 a.m. - 11:00 a.m., 3570 Van Munching Hall

 

Pitch Dingman Resumes! January 19

The 2006-2007 Pitch Dingman program is held every Friday. Students, faculty and staff of the University of Maryland community are invited to pitch their business ideas to the Dingman Center for assessment and feedback. Business ideas found viable will find further support from the Dingman Center.

Every Friday, 11:00 a.m. - 12:00 p.m., 3570 Van Munching Hall

 

Capital Access Network Review Day

Students and faculty are invited to hear start-up companies present to our Entrepreneurs-in-Residence and Dingman staff as they prepare for Capital Access Network angel investor presentations. Listen to feedback by our experts, give some advice of your own, and learn about some of the new businesses being started today. It's a great experience for everyone!

To Register, click here!!  — Presentations begin at 10:00 a.m., 11:00 a.m. and 1:00 p.m. Please arrive promptly for the time slots you wish to attend.

Friday, January 26, 10:00 a.m. - 2:00 p.m., Van Munching Hall - Rm TBD

 

 

Upcoming February Events

 

Dingman Day Lunch featuring the Center's Entrepreneurs In Residence

Welcome back students! The Dingman Center for Entrepreneurship is "Open for Business!" Join the Center's extremely successful Entrepreneurs In Residence and learn how they made it really big in the entrepreneurial world. You'll hear what they did to get to the top and what advice they think every entrepreneur should know. Contact Andrea Galati for more information or REGISTER TODAY!

Friday, February 2, 12:00 p.m. - 2:00 p.m., Van Munching Hall - Room TBD

 

Dingman Center Open House - "We're Open for Business"

The Dingman Center is opening its doors to all those interested in learning more about the Center and its activities. Stop by and meet the full time staff of the Dingman Center, our Entrepreneurs In Residence, and members of the Maryland Undergraduate Society of Entrepreneurs. Learn about our many programs and opportunities the Center offers to undergrads, grads, and alumni alike. For more information, contact Andrea Galati. If you are interested in attending please REGISTER TODAY!

Friday, February 2, 2:00 p.m. - 4:00 p.m., 3570-T Van Munching Hall

 

Pitch Dingman $500 Competition — 5 minutes is all it takes to win $500!

Come to the monthly competition, present your business idea in five minutes to a panel of judges from the Dingman Center, and you could win $500!  For information about the weekly Pitch Dingman sessions on Fridays or the monthly Pitch Dingman competitions, e-mail Melissa Carrier. Pre-registration is required for the Pitch Dingman Competition. To register, contact Melissa Carrier.

Friday, February 9, 11:00 a.m. - 12:00 p.m., 3570 Van Munching Hall

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GMA Marketing Forum Scheduled for February 9

Keynote speaker: Seth Godin

The Graduate Marketing Association is proud to present Seth Godin as the keynote speaker for the 2007 Marketing Forum to be held on February 9, 2007.

Business Week's "Ultimate Entrepreneur for the Information Age," Seth Godin is a best-selling author, entrepreneur and agent of change.

The author of several best-sellers including "Permission Marketing," "Purple Cow," "The Big Moo," "All Marketers Are Liars," and the recent "Small is the New Big," Seth will speak on innovations and change occurring in top companies today and how we can effect these changes in the companies that we work for.

Questions?  Please contact Dan Phelps at dphelps2007@rhsmith.umd.edu or (443) 822-9286.

Register today for this exciting event!

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New Dingman Center Website Coming Soon! 

 

The Dingman Center is excited to announce the upcoming launch of it totally new website. A more informative, interactive and user friendly website will be up and running in early 2007.

 

Be on the lookout for the change and let us know what you think. Everything about the Dingman Center should be just a click away.

 

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2nd Annual Cupid's Cup Business Competition Call for Entrants!

 

The 2nd Annual Cupid's Cup Business Competition is looking to give $10,000 to young entrepreneurs like you!

 

The Dingman Center for Entrepreneurship is now accepting entries for the 2007 competition.

Cupid's Cup is an annual business competition showcasing young entrepreneurs from the University of Maryland. This competition is made possible by one of UMD's most successful entrepreneurs, Kevin Plank, CEO of Under Armour, whose generous donation of $10,000 is awarded each year to the winning company.

Eligible contestants must be enrolled in an undergraduate or graduate program at the University of Maryland. Alumni of the University of Maryland,  graduating with an undergraduate or graduate degree between May 2004 and December 2006 are also eligible for the competition.

 

Eligible contestants not only get the chance to compete for the prize money, but they also get the chance to showcase their unique business to the Maryland community. Finalists will also be profiled in future monthly newsletters and on the Cupid's Cup website. All entrants may receive free coaching and mentoring from the Dingman Center's knowledgeable staff and Entrepreneurs In Residence.

 

Visit our Cupid's Cup Website to learn more about the competition, or contact Andrea Galati for additional information. If you are interested in competing and learning more about the upcoming competition

please complete our Intent to Compete online registration!

 

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The Dingman Center Welcomes its newest Dingman Scholar:

Cherry Kwunyeun, Founder and CEO of Blumpari

 

While still an undergraduate at the Smith School of Business, Cherry Kwunyeun's friends anointed her with the title "Bag Lady" because of her tendency to carry multiple handbags at any given time. Six years later, Cherry lived up to her title when she became a handbag design finalist in a national competition. The win was unexpected and came at a time when Cherry began to doubt whether she made the right choice in leaving a consulting career, changing fields and turning down a promotion. She later decided to accept the honor of being one of seven Fulbright scholars in Thailand.

 

While in Thailand, Cherry's work, which entailed consulting for microfinanced textile weaving groups on product design and development, laid the foundation for the creation of her handbag design company: Blumpari. The name comes from Cherry's Thai given name Parichad which means the “eternal flower that blooms in heaven.” Blumpari's ethnically diverse styles are rooted in Cherry's passion to juxtapose traditional motifs and modern design.

 

She learned from her work experience at Pierre Deux how to design and sell luxury products to a niche market around the concept of combining traditional French country textiles with urban sensibilities. Within a year, Cherry brought in 1.5 million dollars in personal accounts and oversaw the Manhattan flagship store operation during a period of corporate expansion. Cherry quickly realized that handbags were a bread-and-butter product for the company and, while working, completed the design certificate program at Parsons.

 

Cherry feels fortunate to have the opportunity to pursue her vision of creating a lifestyle brand. She was recently honored with a position as a Dingman Scholar and feels that the Center's support is crucial to Blumpari's growth. She hopes to further develop partnerships between corporations and handicraft groups and to also act as a distributor for others' products around the world. During her time as a Dingman Scholar she plans to launch her line, an e-commerce site, and participate in trade shows. Cherry is currently working on a line of accessories and is looking for appropriate retail outlets.

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The Dingman Center's Social Venture Program

recaps its Fall 2006 projects and announces its Spring 2007 launch.

 

By Lilah Pomerance MBA 2008

Social Venture Liaison

The nexus between businesses and non-profit organizations, the public and private sectors, is becoming increasingly important to both arenas. Non-profits want to achieve self-sufficiency by creating income streams, while business professionals and for-profits want to increase their socially conscious practices. In response to this need for best practices and skill exchange, the Dingman Center developed Biodiesel University, a mobile biodiesel education lab, which demonstrates how a range of oil-bearing plants can be used to create clean burning renewable fuel. They also launched a consulting partnership with Grassroots.org, a national organization providing free online services to over 300 non-profits in the US.

Over a three-month period, five full-time MBA students consulted on strategic development issues for three of Grassroots' member organizations — Adhikaar, which promotes social justice in Nepal and the Nepali Diaspora, Tailored for Success, which provides business clothing for low-income women, and Even Ground, which offers English-as-a-Second-Language tutoring to pre-K children. Students consulted on a wide range of projects that were designed by the top management of the non-profits to address pressing needs in their financial and strategic development. Angela Stuber, Grassroots.org Director, commented that, “small to medium-sized non-profits struggle to balance staff time and projects. The Social Ventures Consulting Program provides an invaluable dedicated source of support for a specific challenge.”

Adhikaar founder, Luna Ranjit, needed financial and donor-tracking systems. After working with her two Dingman consultants, Adhikaar will be able to put systems in place by early 2007. Commenting on her experience, Luna noted that “the biggest benefit we received from this partnership was how it forced us to think about our long-term goals because our consultants kept asking us in the context of designing a database. We had only been able to think day-to-day.”

Even Ground needed a strategic marketing and fundraising plan to meet its $15,000 annual goal. Dingman consultants helped the two founders create a financial plan with goals and timelines for future development. “With [our] limited resources, it is very easy for us to take things one step at a time,” noted co-founder Sarah Chester. “This partnership has enabled us . . . to develop a concrete plan for development that takes us into the future.”

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LiveWell Wins the December 2006 Round of the Pitch Dingman Competition
Josh Miller wins $500 for five-minute business pitch

 

By Ike Kim MBA 2008

Pitch Dingman Liaison


The Dingman Center for Entrepreneurship at the University of Maryland's Robert H. Smith School of Business held its third Pitch Dingman competition of Fall 2006 on Friday, December 8, 2006. Pitch Dingman is a monthly contest open to all members of the University of Maryland community that is designed to promote entrepreneurship and the launch of new businesses. The format allows for a five-minute presentation of a business idea followed by three minutes of questions and feedback. The contest judges include a combination of Dingman MBA student scholars and entrepreneurs-in-residence.


Josh Miller, a Part-Time MBA Candidate at the University of Maryland's Robert H. Smith School of Business, received the First Place prize of $500 at December's Pitch Dingman competition for his business idea, LiveWell. In his presentation, Miller described LiveWell as, “a price-comparison website and community for people seeking products relating to lifestyles of health and sustainability (LOHAS).” The website, the first of its kind, will tap into this $229 billion a year market by providing consumers with the ability to comparison-shop for items such as organic cotton t-shirts across online stores that specialize in carrying LOHAS items. The LiveWell site will also include merchant reviews to help consumers with buying decisions. Mr. Miller will use his $500 prize to develop a website prototype to present to merchant vendors.


The Pitch Dingman Competition is held monthly at the Dingman Center for Entrepreneurship at the University of Maryland's Robert H. Smith School of Business. Competition dates for 2007 are: February 9; March 9; April 13and May 11. Working sessions (non-competitive sessions) are held at the Dingman Center each Friday from 11 a.m. to 12 p.m. to assist entrepreneurs in preparing their pitches and to offer feedback and advice once competitors' businesses are up and running. For more information about the Pitch Dingman Competition, the Pitch Dingman work sessions, and to register as a participant, email PitchDingman@rhsmith.umd.edu.

 

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Thank you to all the Volunteer Mentors

who participated in the Fall 2006 Mentor Program!

 

The Dingman Center for Entrepreneurship would like to thank the following individuals for volunteering their valuable time and knowledge to start-up entrepreneurs in the D.C. metro area. Their enthusiasm and willingness to help their fellow entrepreneurs helped to shape the Dingman Center Mentor Program. It could not have been the success it was without them. Thank you again for all your efforts.

 

David Abrham

Mike Barr

Travis Good

Mike Harden

Ed Harrell

Chris Hopkinson

Ed Kopf

Ira Koretsky

Rick Kozak

Jeff LoSapio

Rodney Marshburn

Chris McCleary

Tom Mierzwa

David Platte

Brian Roberts

Tony Robertson

Jerry Shipley

S.G. Brooke Tucker

 

About the Mentor Program: The Mentor Program at the Dingman Center for Entrepreneurship is an innovative consulting service that blends together the experience of successful entrepreneurs, acclaimed business school professors, talented MBA students, and the Dingman Center's 20 years of experience in supporting entrepreneurial businesses. Directed to full-time entrepreneurs and established small-medium companies, the mentor program provides support and resources to help companies make the next leap forward.

About the Mentors: Mentors are experienced professionals with a broad range of skills and technical backgrounds. They all share one attribute in common: real-world business experience. The size and diversity of the mentor corps allow us to tailor our mentor partnerships to the needs, business maturity, and industry of each entrepreneur.

Our mentors have years of cumulative experience in starting and running new businesses. They come from a diversity of industries, as well as from corporate executive ranks and service firms. Our MBA students are ranked among the top-20 in the nation, and are available to propose innovative solutions or work on short-term projects.

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Dingman Scholar Allen Wolff Aims to Revolutionize Payment Processing

Lamone Scholar and Dingman Center alum Allen Wolff is out to change the way businesses bill and collect from customers. As co-founder and Executive Vice President of PaySimple, Wolff works with businesses of all sizes to help them streamline, simplify and automate their accounts receivable processes.

PaySimple provides a complete payment gateway for electronic check (e-check) processing, direct-debit, credit card processing, auto-recurring billing, cash disbursements, online bill-pay, and check processing via phone. It is unique in the industry for integrating all of these functions into a simple, user-friendly web-based software suite. PaySimple customers gain competitive advantage by utilizing cutting edge-technology to process payments more efficiently, normalize cash flow, and significantly decrease outstanding accounts receivables. With the ability to bill, process and deposit all payments automatically, PaySimple customers receive their money faster, more easily and more cost efficiently.

“My experiences throughout and after business school were always about adding efficiency to what I was doing so that I could focus on what was next as an entrepreneur,” says Wolff. “I guess that's why PaySimple excites me so much,” he adds. “I speak with business owners every day, and with our product we are able to make a real and lasting impact not only by adding efficiencies to their processes and reducing their costs, but also by providing a technology that results in a significant change to the way they do business.”

Visit www.paysimple.com for more information on the PaySimple payment processing suite.
 

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Where the Smart Money's Going in '07
Local Software, Telecom, Biotech Firms Figure to Get the Most Venture Funding

Where will local venture capitalists look to put their money in 2007?

Companies that add features to cell phones are expected to be among the hottest venture targets, industry veterans say. Internet-based start-ups, software companies and biotechnology firms are likely to continue to dominate the Washington area's private equity landscape in 2007. And a few relative newcomers to the local scene — energy and health-care companies — may also win lucrative deals.

"I think we'll see a lot more of Congress's agenda focus on the environment," said S. Tien Wong of Opus8, a private investment firm in Chevy Chase. "D.C. is where the action is, not just in places with an energy crisis, like California."

As the technology sector continues to recover and other industries enter the local market, the Washington area is emerging as an active and sought-after investment target. Several local firms have been aggressively raising more capital. In 2006, 200 firms in the region raised nearly $1.3 billion in new funds.

Read the full article online at Washingtonpost.com click here!

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Chesapeake Innovation Center: Companies Coming & Going

New incubator company moves in, another moves out and lands in Annapolis
 

It's only a week into the new year, and already the county's homeland security incubator has celebrated two victories.

The Chesapeake Innovation Center welcomed the first new tenant since May to its Admiral Cochrane Drive headquarters just as it sent off another firm to operate on its own in Annapolis.

Exponential Storage — a data storage startup formerly known as InfraSi — is the homeland and national security incubator's first new firm recruited under county employees, who took over managing the center in June.

And while some incubator graduates have scampered off to Virginia, Exemplary Performance, a consulting firm that helps maximize employee business performance, is the second incubator company with official plans to stay in the area.

"Each of these companies are success stories in their own right," said Laura Neuman, an experienced entrepreneur and the incubator's interim director. "The fact that this has happened is a huge win for us."

Under her leadership, the new management has placed a strong emphasis on recruiting new firms in the past few months, while fostering partnerships with such powerhouses as the Maryland Technology Development Corp., and the University of Maryland's Dingman Center for Entrepreneurship, which mentors young firms including Exponential Storage.

Asher Epstein, managing director for the Dingman Center for Entrepreneurship, said he recommended Exponential Storage to the incubator, adding that the company is a perfect fit.

"They've got a really strong team," said Mr. Epstein, whose organization will continue to mentor the firm. "They help store and manage huge amounts of data which has huge applications in homeland security."

Read the full story online!

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The National Women's Business Center is currently sub leasing office space and enrolling students for January classes!

The National Women's Business Center offers a wide array of entrepreneurial related classes taught by business owners. To review this month's schedule, please visit http://www.wbiznet.biz/pandw/calendar.htm. Included with our one day classes is our 13 week Up & Running program which is a must for all business owner "wannabes". We also offer a week long class on doing business with the government which is perfect for anyone who wants to kick start their government contracting business.

 

In addition to offering classes, we also have several empty offices to rent. Two are about 400 square feet and face Connecticut Ave. They are currently furnished with a desk and chairs. We are located right above the Farragut North Metro stop. Transportation couldn't be any better! The rent for these spaces is $1000-$1200 per month.

 

The Center also has incubator space available. These cubicles are $650 per month and include printers, phones, a copier, and access to the Center's training and conference room. They are a great way to have a D.C. address without paying high rent.

 

Anyone interested in the above space can contact Gina Schaefer at ginaschaefer@yahoo.com.

 

In addition to this space, we also house an incubator for small businesses. This space currently rents for $650 each (includes copiers, printers, etc) and we have three slots open.

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 4th Annual Start Right! Women's Business Plan Competition

 

The 4th Annual Start Right! Women's Business Plan Competition is currently accepting submissions. Entry deadline is February 2, 2007 and requires a $25 application fee. Top prize is $10,000 and the competition is open to women entrepreneurs in the MD, DC, VA areas who are at least 51% women owned and have been in business for 2 years or less. The competition is sponsored by Rockville Economic Development, Inc. (REDI), which offers free writing seminars to learn how to write a business plan. For more information, contact REDI at (301) 315-8096 or visit www.RockvilleREDI.org.

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Upcoming Partnered Events

 

 

The 8th Annual D.C. Tech Council Early Stage Capital Forum

Tuesday, Jan. 23, 2007
 

Featuring Co-Chairmen:

Mark Ein
Founder and CEO, Venturehouse Group

Raul Fernandez
Chairman and CEO, ObjectVideo

 

 

Area Companies Are Invited to Submit Applications
Application Period Now Open

Submit Applications from
October 12 - November 24, 2006

 

Selection and participation in the event provides emerging companies exposure to hundreds of investors, potential partners and customers. The conference showcases capital availability for the region's promising technology companies—early through expansion stage—and provides an exchange on current industry and capital markets issues among company managements and capital sources. For more information and to apply, visit: http://www.dctechcouncil.org/

 

MIT Enterprise Forum Annual Gala:

“Technology Innovation, Emerging Opportunities and Entrepreneurial Update”

Tuesday, January 30, 6-9 p.m., NRECA, 4301 Wilson Blvd., Arlington, VA

 

Featuring special guest keynote speakers:


Tom Patterson, CEO, Command Information. Mr. Patterson, an experienced and savvy senior executive, is building his professional services firm in Herndon, Virginia, to help businesses and government officials prepare for the coming wave of “next-generation Internet.“ He will speak on the future business opportunities that will be provided by IPv6.


Chris Darby, CEO, In-Q-Tel. As an energetic and experienced entrepreneur with a deep understanding of technology, Mr. Darby will provide insights on In-Q-Tel's mission to build on its large and growing base of portfolio companies to deliver leading-edge solutions to challenges confronting the CIA and other members of the intelligence community.

 

Also featuring three MIT Enterprise Forum presenters:
- Phil Rosenthal, Founder, Fastcase
- Harry Herman, Founder, Orthotic Mobility Systems
- Yiqing Liang, PhD, Founder, Clever Sys. Inc.

 

Open to the public. General admission is free to all Forum members, $25 for non-members.

For more information, directions and  to RSVP visit:  www.mitef.org/events/#203

 

Human-Computer Interaction Lab's 24th Annual Symposium

May 31 – June 1 2007 at the University of Maryland

 

Mark your calendars!

The Human-Computer Interaction Lab's 24th Annual Symposium will take place May 31 – June 1 2007 at the University of Maryland.The Symposium will be held on May 31 followed by a day of tutorials and workshops on June 1. Registration begins in March.

 

For more information and to find out about our 2006 event, visit: http://www.cs.umd.edu/hcil/soh or email: hcil-info@cs.umd.edu

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THE DINGMAN CENTER FOR ENTREPRENEURSHIP

 

Founded by Rudy Lamone in 1986, the Dingman Center was one of the first of its kind in the country and has emerged as a top-ranked entrepreneurship center. Thanks to initial funding with a generous grant from Michael D. Dingman, founder of the Signal Corporation (now part of Honeywell International), the Dingman Center continues to grow as a regional and national catalyst in the field of entrepreneurship. The Center is now aggressively evolving, and in some areas, is expanding its services to further its role as a leader in the student, regional, and academic entrepreneurial communities.

The Dingman Center is currently led by:
Asher Epstein, Managing Director

Melissa Carrier, Associate Director
Mr. John LaPides, Chairman of the Board and Entrepreneur In Residence
Dr. Scott Koerwer, Associate Dean, Professional Programs and Services

Please visit our website at http://www.rhsmith.umd.edu/dingman.

 

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