WASHINGTON STATE

The company, based near Spokane, is building systems that help phone and cable carriers upgrade their copper-based telecommunications networks to ones that use fiber optics and Ethernet software.

"As an ex dot com entrepreneur, I wonder if the Internet world will ever get away from catchy labels and buzzwords. I cringe at Web 2.0 as it brings back the bad memories of the dot com era."

That lesson and an invitation from Buffett to attend Berkshire Hathaway’s annual meeting in Omaha, Neb., have stayed with the two and underscores their new venture: creating interactive shopping-mall kiosks.

The latest buzzword in the technology industry can be a little tough to define. Interactive Web sites that tap the knowledge of users? Collaborative technologies for small teams? Software delivered over the Internet as a service?

Word on the street is that two Washington state venture capital firms are out looking to raise new funds.

"It (the incubator) saves me from doing the part of the job that I don’t like to do,"

"I felt it was important to provide some accountability" for how the state’s money is spent.

"I’m hearing from headhunters that they can’t fill all the hiring requests they’re getting," said WSA President Kathy Wilcox.

Creating or expanding e-work opportunities can be a new strategy included in economic development plans for rural communities.

"We are taking on a bigger charter, taking the lead in bringing mature technology from the state of Washington to China,"