Illinois Technology Development Names Thornton President and Chairman

Chicago, IL – January 18, 2005 – The Board of Directors of the Illinois Technology Development Alliance (ITDA) announced today that Tom Thornton has been named its President and Chairman of the Board.

‘I am pleased to join the ITDA as its first President and Chairman,' said Thornton. ‘The organization is a national leader in technology-based economic development and a major force for job growth in Illinois.'

Tom is the former president of The Illinois Coalition, a nonprofit economic development organization established to strengthen Illinois' economy through science and technology. At the Illinois Coalition, he developed and led the Venture Development Group, one of the most respected technology development organizations in the nation. The group provided startup assistance services to seed-stage technology ventures with a goal of better positioning them for growth and preparing them to seek private investment.

‘Tom is a major asset of the ITDA', commented Arthur Holden, Chairman and CEO of First Genetic Trust and ITDA director. ‘He has developed and implemented in conjunction with the state and private sector virtually every major technology program in Illinois, including the Technology Development Bridge Fund, the one of the state's largest and most active seed-stage venture capital funds; the state's manufacturing technology extension system; three federal technology transfer and commercialization centers and the state's technology assistance program. He also spearheaded the development of the state's first science and technology policy, called the Technology and Jobs Agenda.'

Prior to joining the Illinois Coalition, Tom served as Senior Vice President and Special Advisor at Convergent Technology Group. There, he led Seattle-based Convergent's merger and acquisition and investment banking advisory services in the greater Midwest. Convergent provides investment banking and strategic management services to technology companies worldwide. Prior to joining Convergent, Tom was a Managing Partner at Chicago-based divine interVentures. Thornton managed divine's investments in business-to-business e-commerce marketmakers.

Earlier in his career, Thornton served as the Director of Policy to Congressman J. Dennis Hastert, currently the Speaker of the U.S. House of Representatives.

Thornton is actively involved in several technology-based organizations, including the Great Lakes Industrial Technology Center (NASA's Midwest technology transfer center), the Illinois Manufacturing Extension Center and the Waste Management Resource Center. He is also a member of Mayor Daley's Council of Technology Advisors.

Tom earned his bachelor's degree from the University of Wisconsin at Madison.