Early investor in Omniture, Allegiance is Utah's Angel Investor of the Year

SALT LAKE CITY — Some critics might say entrepreneurship has taken a back seat in business in recent years, but there was little evidence of that Wednesday at the second annual Utah Angel Investor of the Year award luncheon.

Small businesses and the people who start them are still the backbone of the state's economy, which has an excellent record of spinning off companies and helping them grow, attendees at the lunch were told in a keynote speech by Michael Gerber, author of the "The E-Myth." Gerber recently was named by INC Magazine as the world's No. 1 small-business guru.

Local entrepreneurs who are gurus in their own right were singled out for their contributions to growing the ranks of Utah's small businesses.

Nobu Mutaguchi, an early investor in Omniture and Allegiance, was named Utah's Angel Investor of the Year.

Mutaguchi, who received his MBA from Brigham Young University in 1985, was recognized for managing to help new businesses grow both here and in Japan.

A company that devised and sells the tongue-cleansing OraBrush was named start-up company of the year.

Mentors of the year are co-founders of BoomStartup, John Richards and Robb Kunz.

Angel investors typically invest their own money in start-up businesses and are seen as a key to economic prosperity because of their critical role in helping new businesses to grow.

Angel investors play a key role within our economy, said Brock Blake, CEO of FundingUniverse.

"They invest in companies when traditional funding sources can't and provide hands-on guidance based on their own personal entrepreneurial experiences," Blake said. "These angels are more than investors — they are mentors and teachers. This award recognizes them for all aspects of their leadership."

FundingUniverse, Corporate Alliance of Utah and Mountain America Credit Union sponsored the awards.

e-mail: jthalman@desnews.com