Nebraska Global isn’t wasting any time hitting its marks for launching spin-offs. The $20 million Lincoln-based venture capital fund, which endeavored upon its creation last year to create two companies within 18 months and 10 within five years, is making visible strides with the second of those spin-offs, ICORA.
The wheels have been in motion at ICORA since January, but it wasn’t until March 28 that the software company introduced itself to the world — unofficially, at least — with the launch of its website, icora.com. ICORA is an internet software vendor with a program that enhances Microsoft Dynamics, Microsoft’s enterprise resource planning (ERP) and costumer relationship management (CRM) software.
“There are some shortcomings within the various Dynamics products,” said Patrick Smith, COO of Nebraska Global. “We’re basically looking for the opportunity within the Dynamic space to solve those problems with additional software.”
To lead that effort, Nebraska Global recruited Allison Jensen, formerly of Microsoft.
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“The stars lined up,” Smith said. “To get Allison on board to drive ICORA as the president of that organization and, with her experience from Microsoft, get her to give up Kansas City and move to Lincoln, that was huge in our decision to pull the trigger on this.” (Jensen, at right. Photo from icora.com.)
The launch of ICORA’s website comes just before another significant steppingstone for the company. ICORA is scheduled to have a presence at Convergence 2011, a meeting of the Dynamics customer and partner business community that will take place April 10-13 in Atlanta. Convergence will serve as a debut for ICORA’s software, Jensen said. A beta release will follow shortly after, and Smith said a general release of the software is targeted for late spring or early summer.
With Nebraska Global money behind ICORA and a Dynamics-savvy team working with her, Jensen said the circumstances and timing are right for ICORA “to make a big splash” right away.
“We’re looking to get out there and establish our relationships in the community as an independent software vendor,” Jensen said, “and let everybody know what our capabilities are through our initial product offering.”
