"We noticed a big need in the world of computer displays," said Favarola at last night's presentation.

Actuality Systems applied for a "provisional patent" for the display unit in 1996 and expects full patent approval by 1999, he said.

The company is currently looking for "several million" dollars of venture to finance its next round of expansion, Favarola said. Among the improvements the company hopes to make are increasing the resolution, or level of detail, of the three-dimensional projector, expanding its size to at least six inches on a side and using "multicolored light sources" to generate full-color images, he said.

Favarola also discussed the challenges associated with launching a successful startup company at last night's event.

Favarola advises prospective entrepreneurs not to waste their time "for five million dollars."

"Only do something if you can make more than $300 million," he said. "Don't waste your time, or investors' time, unless the return will be gigantic. This is the mind frame you need to have."