Herndon, VA The Potomac KnowledgeWay announced today that Alfred
R. Berkeley, III, president of The Nasdaq Stock Market®, will
assume the role of co-chairman of the four-year-old Potomac
KnowledgeWay's board of directors. Joining Mario Morino as
co-chairman, Berkeley will focus on accelerating the growth of the
"new economy" in the Greater Washington, DC metroplex.
"Nasdaq has been the job creation engine for the U.S. and Al's
acceptance of the co-chairman role is extremely important for our
region," said Morino, founder and now co-chairman of the Potomac
KnowledgeWay. "The Washington-Virginia-Maryland region is
reaching a point of critical mass due to the growth of thousands
of information, communications, and biotechnology communications
companies that have emerged over the last decade, as well as the
many organizations that support those companies. Al will help to
ensure the region's breakthrough to accelerated growth."
"I am delighted to become co-chair of the Potomac KnowledgeWay,"
said Berkeley. "The wave of innovation and new businesses in the
greater Washington area makes it one of the most exciting
technology markets in the world. Innovation and capital are
coming together at an increasing rate to create jobs and improve
the standard of living in our region. The Potomac Knowledgeway is
dedicated to accelerating this growth. Now is the time for the
region's established entrepreneurs to join together to bring our
new knowledge-based economy to fruition."
Berkeley was appointed president of The Nasdaq Stock Market in
1996. Prior to joining Nasdaq®, he was a managing director and
senior banker in the corporate finance department of Alex Brown &
Sons, Inc., financing computer software and electronic commerce
companies. Berkeley is a graduate of the Wharton School at the
University of Pennsylvania where he received an MBA in 1968 and
the University of Virginia where he received a BA in 1966.
When the Potomac KnowledgeWay was created in 1995, the dominant
employer in the region was the federal government, which then was
downsizing. The challenge for the KnowledgeWay, at that time, was
to help the region recognize its strengths in technology to
nurture a growing entrepreneurial base and to capitalize on the
region's assets in telecommunications, Internet and content.
Today, the growing infocomm and biotechnology sectors, driven by a
concentration of Internet companies in the region, employ a
workforce that outnumbers federal government workers. By January
1999, the region was home to 166 Nasdaq-listed companies - 3.3
percent of all companies listed on the market. In addition, a
robust community of more than 3,000 regional start-up companies
has sprung up, underscoring the new entrepreneurial climate that
has evolved in the region.
"The result is a local economy that is robust and growing," Morino
said. "The Potomac KnowledgeWay now must use its regional
advantage to foster a breakthrough to even greater, sustained
"Al's experience in the technology sector is an enormous 'plus'
for the KnowledgeWay," said Fred Bollerer, Potomac KnowledgeWay
president and CEO. "Our region clearly has the potential to be
greater than the sum of its parts. One way to achieve that
potential is to build productive relationships among key
stakeholders that speed up the process of turning new ideas into
high-demand products and services. Another way is to produce
policies that support entrepreneurship. I believe there is no one
in the region who is more knowledgeable about building these
relationships than Al Berkeley."
The Potomac KnowledgeWay is a not-for-profit leadership
organization that acts as a catalyst, thought leader and idea
incubator to help foster growth in, and frame the importance of,
the regional InfoComm Cluster. Launched in 1995, it is supported
by a wide range of regional businesses and leadership