... by Matt Noah
We help people build and enhance their network of contacts in the "com and .com" world.

Master Networker

If you're in the "com" or dot-com worlds in the Twin Cities and don't know Matt Noah, you're not much of a networker. Noah is the man behind NetSuds, which has emerged as the Twin Cities' premier networking event for people in the telecom, datacom, IT (information technology) and Internet arenas.

NetSuds started in November 1998 with a gathering of a mere 20 people. Last November, 800 sudsers networked at the Minneapolis Hilton. Attendance has fallen off with the dot-com downturn, but Noah's turning his networking knack to what should be a healthy sector for some time: med tech. MedSuds debuted last month.

Noah, 43, has long been a networker of people and things.

He holds a bachelor's degree in electrical engineering from North Dakota State and a master's in electrical engineering from Stanford University.

Before plunging full-time into NetSuds, Noah was an engineer at Minnetonka-based ADC for three years, where he worked in business development and the office of technology.

He's also worked for Telogy Networks, ACT Networks, AT&T Bell Labs, ITT and Rockwell. He and his wife, Susan, have four boys.

Staff writer Martin J. Moylan recently interviewed Noah about NetSuds and his other networking efforts. The transcript has been edited for conciseness.

Q What was the inspiration for NetSuds?

A A Manhattan group called Network Suds that started in early 1998. I decided it was something that should be done in Minnesota.

Q Initially, it was primarily for your own networking purposes, though. When did you sense you had something with broad appeal and value?

A When Ann Winblad (general partner of Hummer Winblad venture firm) appeared in April of 2000. That breakfast drew over 500 people. I realized then that I needed to make a decision to continue at ADC or do this full time. And given my love for this and that I did not care for the climate at ADC at the time, I decided it was time to go.

Q What wasn't happening in the Twin Cities that you thought could or should happen?

A Helping put together some of these companies with partners or venture capitalists. They were not seeing the relationships possible from working together with partners.

Q So you're like a matchmaker?

A I don't claim any credit for any marriages. Hopefully, I've created an event where people can meet and decide on their own if they want to elope.

Q Why has NetSuds succeeded?

A It's been very focused on certain industries. Generally, high-tech meetings are too broad. But we've focused on telecom, datacom and the Internet sectors. Also, it's a very freewheeling atmosphere. People are not subjected to stuffy presentations. The timing, every three months, is good, too.

Q How has the dot-com and economic downturn affected NetSuds?

A In the past, there was a lot of buzz and need to get out and be seen. A lot of folks have just cut back on that. And that has certainly hurt attendance. However, folks are still coming, and it's still a very good business event.

Q How's your NetSuds spinoff, MedSuds, doing?

A The first meeting had a little over 300 people. By and large, 80 percent of the people were new, doing business in med-tech, biotech and life sciences.

Q Why focus on the areas you have?

A Minnesota is especially strong in medical device technology. And med-tech, telecom, datacom and Internet businesses account for about 90 percent of what is venture fundable here.

Q You're making a living at this, with the Suds events, the entrepreneur breakfasts, consulting and the seminars you run?

A It's paying the bills. This is my full-time job, and I'm doing better than I did at ADC.

Q Most of your revenue comes from companies paying to sponsor free events or people attending seminars you run. What are you charging?

A Sponsorships can be as low as $500 and as high as $50,000 depending on the event. Breakfasts are $30. The seminars are $250 to $600 to $1,000.

Q What are your future plans?

A I don't know if I'll do this long term. You have to evolve your business or you'll get duplicated by someone. Or you'll bore people. I'm not sure where this will take me in five, 10 years. But I have goals for the next five, 10 months.

I want MedSuds running as the premier networking event in the Twin Cities for the med-tech, biotech and life sciences crowd.

And I want NetSuds rolling in six other markets. We've already launched in San Jose, Boston and Washington, D.C. Dallas is coming. Chicago, Austin, Denver . . . they're on our list.

Q How would you rate the Twin Cities as a tech power?

A We are third tier, at best. Probably fourth tier. Silicon Valley is the only one in the first tier. The second tier includes Boston, Dallas, D.C., Tel Aviv. The third tier includes places like San Diego, Los Angeles, Portland, Atlanta, Denver, New York. To move up we need a good half-dozen big wins.

Q You mean local companies emerging as national powerhouses?

A Exactly. And the prospects for that are much better on the medical side.

Q So, how do we encourage the growth of such companies?

A It's not a question of changing tax policy or state government policies. It a function of (attracting and encouraging) guys and gals with the ideas and drive to make it happen. It's as simple as that.