Press Releases & Articles

HERE'S HOW TO TAKE YOUR BUSINESS TO THE NEXT LEVEL

If you’ve already created your business model, it’s likely that your business is either ready to be launched or primed for future growth. And that leads to the next step in growing your business: Raising early stage capital to help take your business to the next level.

That’s why TechLaunch is such a valuable opportunity. Raising early stage capital is no easy feat—on average, investors only give funding to one out of a hundred, or even one out of a thousand proposals. TechLaunch will give you the training you need to overcome the odds by perfecting your finance pitch. Here are just a few compelling reasons why you should attend:

1. TechLaunch is a valuable opportunity to learn best practices on early stage financing. TechLaunch breaks down the components of a successful finance pitch and explains key points that resonate with investors. TechLaunch’s judges give personalized feedback on each company that participates and also respond to questions from audience members—making the competition essentially a real-life case study of early stage financing.

2. TechLaunch will help your company bring in the big bucks. On average, you’ll only have two minutes to make your pitch to investors, so it’s critical to understand how to present your ideas and know what investors are looking for. If you need proof that TechLaunch makes a difference, the sixty-two companies that have participated in the program have raised more than $33 million dollars of funding.

3. Attending TechLaunch is an investment in your company’s future. Early stage financing is the lifeblood of every startup and it’s inevitable that someday you’ll need to raise investment funds. Prepare yourself now so you can make your case to investors with clarity, confidence, and focus.

TechLaunch starts tonight, but it’s not too late to attend!

You can register in advance for TechLauch or pay for tickets at the door. If your business will need capital in the future, don’t miss out on this opportunity to learn how to get investors to show you the money.

FINALISTS ANNOUNCED FOR TECHLAUNCH 9.0

Through a rigorous selection process, ten startup companies have emerged as Entrepreneurial Idol Finalists for TechLaunch 9.0. 21 companies from around the state of Idaho were vying for a shot at more than $15,000 in cash prizes and the title of Idaho’s next Entrepreneurial Idol.

The finalists are:

East Region - Citius Composites, LLC (Rexburg), Mine Performance, Inc. (Blackfoot), Syphon, LLC (Rexburg)

North Region - Element Robot (Moscow), Mahogany Floats! (Ponderay), So Like Us (Lewiston)

South Region - Outcome Tools, LLC (Twin Falls)

West Region - BOBEC Apps, LLC (Boise), Follow and Fund (Boise), LoanTek (Nampa)

According to Idaho TechConnect CEO Rick Ritter, “This year’s crop of finalists comes from very diverse business sectors. Collectively, some of the best business ideas from around the state will be presented. We are excited and proud to play a role in the next wave of successful Idaho entrepreneurs.”

In addition to Entrepreneurial Idol, student teams will also be competing in the Next Gen and Idaho Ideas to Market (I2M) competitions on Wednesday, May 16th. The all-day event is designed to educate prospective entrepreneurs who are seeking financing now or in the future. By watching the competitions and hearing feedback from industry-leading judges, event goers have a unique opportunity to see the financing food chain at work.

The entire event will be held at The Grove Hotel in Boise. For more information about TechLaunch 9.0 or to purchase tickets for the reception and competitions, go to www.idahotechconnect.com and click on TechLaunch.

###

Feature article submission

UNDERSTANDING EARLY STAGE FINANCING CRITICAL TO ENTREPRENEURS

When first starting a business, many entrepreneurs obtain money through the three F’s: Family, Friends, and Fools. But when seed money runs out, entrepreneurs need to consider other sources of funding to get their ideas to market.

Although Idaho has no shortage of ideas, our state has relatively limited options for startup capital. Entrepreneurs need funding to get their ideas through the middle of the innovation pipeline, infamously known as the “Valley of Death”—a term that describes the place where good ideas go to die.

To commercialize their ideas, entrepreneurs need to understand the complexities of early stage financing. Although this may seem like a dry topic to some entrepreneurs, not having a solid background knowledge of this process could lead to serious consequences.

Entrepreneurs have more sources for financing than they often realize, each source with benefits and drawbacks. Many entrepreneurs make the mistake of targeting sources inappropriate for their company’s stage of development, industry, and funding needs. At best, choosing the wrong source of funding could lead to frustration and loss of productivity from mismatched expectations. At worst, it could even lead a business owner to lose ownership of the company he or she founded.

Another common mistake is failing to develop a sales pitch targeted to a specific finance source. There are many different sources available, such as angel investors, venture capitalists, and government grants. Each of these sources has unique expectations and investment criteria. To be a competitive candidate for funding, entrepreneurs need to understand how these factors influence the way they strategically pitch their ideas to specific types of investors.

The IdahoTechConnect office recognizes that educating individuals on early stage financing builds stronger businesses, which in turn builds stronger communities. Join us at TechLaunch 9.0 this year on May 15 – 16 to learn how to get investors to show you the money.

Prestigious business plan competition nears

Boise, Idaho, April 4, 2012 – 28 start-up companies from around the state of Idaho are vying for ten spots in the prestigious Entrepreneurial Idol Competition at TechLaunch 9.0. This annual business pitch competition will be held May 15-16 at the Grove Hotel in Boise.

In its ninth year, TechLaunch is designed to educate and provide a stage for entrepreneurs and students to practice and hone their pitch in front of the business/investment community. Over the past eight years, TechLaunch has introduced some great companies to the intricacies of early stage financing. Of the 62 companies that have participated, 45 are still in business. These 45 continue to grow and receive research, development, and investment capital.

Additionally, three other competitions will take place during TechLaunch 9.0. Next Gen is a pitch contest between participants of regional college and university business plan competitions. During Idaho Ideas to Market (I2M), participating student teams from the region's colleges and universities are judged on their assessments of patented technologies developed at the Idaho National Laboratory. The last competition, Crowd Pitch, is an elevator pitch competition that provides an opportunity for individuals to deliver their idea to TechLaunch attendees.

All of the competitions besides Crowd Pitch are evaluated by a distinguished panel of judges including Haven Baker, Vice President of New Market Initiatives at the JR Simplot Company, Nathan Paddock, Vice President of Commercial Banking at Zion’s Bank, and Darren Young, an Investment Professional at Micron Ventures. Each of the judges have all excelled in their particular fields and bring a wealth of knowledge regarding early stage financing.

Students and aspiring entrepreneurs are encouraged to attend this event to learn the complexities of product commercialization, start-up financing, and networking with industry leaders. Attendees have the option of registering for the reception, the competitions, or both. Group discounts are also available for groups of ten or more.

For more information, please contact Shaun Shannon at (208) 908-0625 or shaun.shannon@idahotechconnect.com.

About Idaho TechConnect
Idaho TechConnect is a private non-profit organization focused solely on innovation – its development, transfer and commercialization – all of which impact the state’s economy. As a statewide entity, Idaho TechConnect bridges the gap between ideas, research and patents and the enabling people, money and facilities. Regional offices assist Idaho entrepreneurs and businesses in turning ideas into products, establishing and growing R&D programs, seeking funding and competing in the global marketplace. More information is available at www.idahotechconnect.com.