Ogden firm backs entrepreneurs

OGDEN — A former Greyhound bus station in Ogden is hoping entrepreneurs, rather than travelers, pass through.

The 4,300-square-foot structure at 2501 Grant Ave. that first served bus passengers 65 years ago is now home to the E Station, hailed as the first private business incubator in the state.

Alan E. Hall, who started Ogden-based MarketStar from his basement, created E Station through its parent, Grow Utah Ventures. The incubator hopes to be home to six young companies in January, housing up to 25 employees for companies funded by Grow Utah Ventures.

Grow Utah Ventures, a private equity fund founded in July 2004, will be based there. It has invested in 30 Utah businesses and on Monday announced committed investment resources of $15 million to fund up to 100 Utah companies over the next five years directly from Grow Utah Ventures and its angel networks throughout the state.

This past summer, the fund helped found Olympus Angels in the Salt Lake area and is involved with similar groups in Weber, Davis and Cache counties, plus Cedar City and St. George. Grow Utah Ventures' angel profile specifies investment commitments of $25,000 or more per year per angel.

Grow Utah Ventures' chief executive officer and president is T. Craig Bott.