BusinessGenetics Inc. is expecting to conclude discussions with an angel investor next week in a deal designed to accelerate the startup's quest to promote a new trend in software development known as business modeling.
The Denver, Colorado-based management consulting firm and subsidiary of incubator Affinity Solutions is on a mission to evangelize the business language it launched late May, known as xBML (eXtended Business Modeling Language).
Designed to serve as a front end to XML and UML, Business Genetics executives report xBML is designed to provide businesses with a blueprint for mapping and viewing an entire enterprise IT infrastructure.
Cedric Tyler, BusinessGenetics managing partner, describes the company's mission as "bridging the chasm between technologists and business."
The company's xBML technology is designed to simplify business processes across all industries and to create a model that represents a company's entire business process.
"We feel [xBML] is the highest level [of analysis] you can extract from a business point," Tyler said.
Currently in the early stages of securing vendor partnerships, the company of just 30 people needs the angel investor to employ engineering talent. "Our motto is scale or die," Tyler said.
According to a 2000 Gartner report, business modeling is a trend that is expected to surge during the next five years as companies realize its ability to create economic and performance advantages.
And the company is not worried by the current economic slump, claiming enterprises have thrown technology at business problems, which in turn has opened opportunities for business modeling.
In particular, company executives see opportunities in the telecommunications, supply-chain, and business-to-business markets.
To that end, BusinessGenetics lists Qwest, the National Forest Service, the National Park Service, and J.D. Edwards as xBML users.