Red Herring selects 21 companies that have a good chance to make it big. Good summaries...

Vonage, Edison, New Jersey. InnovationWorld's TechALERT
in January reported on Vonage�s Canadian expansion plans, which were
completed during the summer of 2004. We believe Vonage will transform
telephone service markets around the world with its Voice-over IP
(VoIP) technology because it can enter new markets with an
extraordinary low capital cost. Its sights now are set on Europe.

UTStarcom,
Alameda, California. A world leader of wired, wireless, optical, and
access switching gear to telecommunications carriers around the world,
having pioneered the Chinese market, UTStarcom now is prepping its
Latin American entry and a new U.S. focus. This is the second
sequential year that TechALERT has reported on UTStarcom�s expansion plans.

TiNi Aerospace,
San Leandro, California. TiNi Aerospace develops shape memory materials
for use in aerospace, automotive, and other industries that are
embracing advanced materials. Although a small, private company, it has
won major contracts around the world and its components have traveled
throughout the solar system. TiNi Aerospace plans to launch its
European presence in 2005.

Taser International,
Scottsdale, Arizona. A controversial, revolutionary technology for
subduing criminals using an electrical shock has made Taser
International a household name in the U.S. The company�s European
business will launch with a major deal in the U.K. and it is set to
ride the momentum from that early win and expand to the Continent.

Plextronics,
Pittsburgh, Pennsylvania. A Carnegie-Mellon University-incubated
developer of inherently conductive polymers, Plextronics makes plastics
that conduct electricity that could punch through design and cost
barriers in a variety of industries. Earlier this year, the company
told our readers it plans for its European entry and Asian growth in
2005.

NanoMuscle,
Antioch, California. Tiny engines eventually will power many of the
tasks that require human or bulky mechanical force today. NanoMuscle�s
micro-motion actuators will fit into automobiles by the hundreds and
power children�s toys on very little power. It is aiming for Asian
expansion in 2005.

MedMira Laboratories,
Halifax, Nova Scotia. A developer of rapid diagnostic tests for
HIV/AIDS and hepatitis, MedMira Laboratories is working on fast,
inexpensive screening products for other diseases as well. The publicly
traded company, while small and, like many other late-stage
biotechnology companies, thinly capitalized, is seeing rapid revenue
growth. It reported a 100-percent increase in revenue during the most
recent quarter and is exploring Asian expansion in 2005.

Konarka, Lowell,
Massachusetts. Flexible and thin photovoltaic cells will fit on the
back of mobile handsets, the cover of a laptop, and the dashboard of a
car to provide a power boost when needed. Konarka�s plastic solar
cells, the first of which will be introduced this fall, are a promising
competitor in this growing market. The company will continue its
European expansion in 2005.

Mobile 365,
Chantilly, Virginia. A developer of mobile messaging interoperability
technology and services for wireless carriers, InphoMatch already had
begun growing overseas when it joined forces with Mobileway in October
2004 to form Mobile 365. With the merger, Mobile 365 now has added
numerous locations throughout Europe and Asia to go with InphoMatch�s
offices in Brazil and Hong Kong.

InnoCentive,
Andover, Massachusetts. The smartest companies know they can�t hire a
significant share of the knowledge in the world; InnoCentive is the
ultimate in intellectual outsourcing, connecting more than 50,000
academic and independent researchers to clients on a project basis. The
private firm is growing its international network of researchers and
satellite offices around the world.

Good Technology,
Sunnyvale, California. Mobile messaging for the enterprise is one of
the hottest growth markets going. Good Technology�s enterprise mail
software for Microsoft PocketPC and Palm OS is gaining large customers
quickly. By the end of the year, it will have a physical location in
Europe and is aiming for Asian presence in 2005.

Genencor International,
Palo Alto, California. One of the oldest companies we�ve looked at in
the past year, Genencor earns $380 million in revenue annually through
sales of its bioproducts for industrial, consumer, and agriprocessing
markets and infectious disease, as well as its cancer-fighting
products. With 600 staff members already overseas, the company is
aiming for larger Indian, Russian, Latin American, and Chinese
presences in the coming year.

Gene Logic,
Gaithersburg, Maryland. Bioinformatics will accelerate drug discovery
and development. Gene Logic combines bioinformatics with a pragmatic
approach to the knowledge gained from previous clinical research to
more quickly identify promising drug targets. The contract research
firm has developed important relationships with leading pharmaceutical
companies in the U.S. and Europe. It is expanding its European business
and has added staff in the U.K. and Germany. Gene Logic also
established a Japanese subsidiary in recent months and expects to see a
significant Japanese revenue stream in the coming year.

Falcon Waterfree Technologies,
Grand Rapids, Michigan. Falcon Waterfree Technologies� products save
water and reduce water-borne pollution. With populations around the
world moving into densely populated cities, waterless urinals will be
an important component of sanitary policy in an age of water scarcity.
The company will open small-scale manufacturing facilities near its key
markets in 2004 and 2005.

Ener1, Fort
Lauderdale, Florida. A developer of high-energy batteries and fuel
cells, Ener1 is forming partnerships in regions and markets where
alternative power is attractive and is considering direct manufacturing
investments in those regions as well. The publicly traded company has a
60-person subsidiary in Ukraine.

Ember, Boston,
Massachusetts. In the future, electronic items in our environment, from
the light switch to the machinery we use at work, will be talking
amongst themselves. Wireless connectivity chips will add to this
conversational ability and Ember is a promising entrant in this market.
The company, which just received an additional $25 million in funding
led by Vulcan Capital, is considering Asian expansion in early 2005,
followed by a European presence.

C Sixty, Houston,
Texas. An aging population will face a wide range of illnesses that C
Sixty�s engineered antioxidant small-molecule biopharmaceuticals -
based on a novel form of carbon arranged in geodesic forms reminiscent
of inventor Buckminster Fuller�s domes - will address. Its drug
candidate pipeline represents an interesting portfolio of intellectual
property. C Sixty is seeking partners in Europe and Asia to augment its
current relationship with Merck.

Atrua Technologies,
Campbell, California. A developer of touch-based control technology for
mobile handsets and other consumer electronics, Atrua Technologies
promises to help users steer the course to their contact information or
a win in their favorite handheld video game. Its haptic technology also
provides fingerprint verification and finger-specific feature (e.g.,
using their ring finger, a user can open and authenticate themselves on
eBay automatically) capabilities in mobile devices. The company just
launched its product and is seeing extensive interest among handheld
manufacturers. With new offices in Japan, Singapore, and Belgium, Atrua
Technologies is considering a new location in Asia.

ApNano Materials, New York, New
York. Nanotechnology will find every nook and cranny in the industrial
infrastructure and some of the first nano products are lubricants built
on engineered molecules. ApNano Materials makes lubricant additives and
anti-friction coatings for machine parts. Founded in Israel, ApNano
Materials moved its headquarters to the U.S. and now is raising funding
for U.S. and European expansion.

Action Engine, Redmond, Washington. For the second year running, TechALERT
profiled Action Engine�s growth plans. The company, which makes
software that streamlines the development and deployment of
applications for mobile handsets, raised additional capital and grew
revenues by 500 percent in 2003. We covered its European plans late
last year and the company continues to expand internationally as 2005
approaches.

Fortinet,
Sunnyvale, California. Fortinet develops a firewall-on-a-chip that can
be installed in networking equipment to reduce or eliminate attacks on
enterprise data without slowing network performance. TechALERT
has reported on Fortinet�s growth plans twice in the past two years and
the company recently opened a development center in Mumbai, India.