The RTP Product Development Guild, a newly formed group designed to help entrepreneurs commercialize products, will host a networking event at its headquarters on Aug. 4.

The offices are located at 400 Dominion Drive #101 in Morrisville.

“We wanted to have a fun business networking family-friendly social event to encourage the RTP design community to come and see our new facilities in Morrisville,” said Montie Roland, president of the Guild. Roland is also the president of the Carolinas Chapter of the Product Development Management Association, (PDMA).

Companies also will be allowed to set up booths and tables for promotional use.

The Guild was launched by Roland and Tom Vass, an investment advisor and owner of Private Capital Market, an Internet-based private equity firm.

“Our business philosophy of the Guild is reflected in our pig pickin’ social event,” said Vass. “We want an open, participatory organization where all participants can benefit from the association.”

Service providers as well as entrepreneurs are welcome, Vass said.

The Guild’s offices also includes a product prototyping company called 101 Machine.