Even though the 3rd annual venture fund conference isn't scheduled until August, now is the time for businesses interested in making presentations to begin preparing for the event, according to Brad Bertoch, Utah Innovation Foundation executive director.
The conference will be held Aug. 10 in the University Park Hotel under the theme "Start-Up Dollars for Start-Up Businesses - A Funding Opportunity for Early-Stage Businesses" and is designed to allow growing companies a chance to attract new capital.Interested companies must register with the foundation and prepare an expanded executive summary, which is due June 5. A selection panel will review expanded executive summaries June 1-26; and will notify the finalists by June 29.
The panel consisting of businessmen and venture capitalists will critique the finalists' presentations July 26-27 that will be given at the conference.
Interested people can contact the foundation at 295 Chipeta Way, Salt Lake City, Utah 84108.
Bertoch said the conference is an opportunity for officials from Utah's most promising early-stage, high-growth companies needing between $5,000 and $500,000 to make a pitch for financing to investors and venture capitalists.
"Our role is to bring together the best high-growth potential companies with the best investors interested in providing seed money to help those companies achieve their projected success," Bertoch said.
The executive summary, which consists of the company's purpose, the history, overall marketing strategy, management and a financial summary, is the first step companies must take to meeting potential investors at the conference. The summaries are less than eight pages long.
People from various businesses volunteer to help the selected companies perfect their presentations, which are critiqued by the panel before the conference.
"The executive summary should highlight the most interesting and important points of your business that will lead the potential investor to a general understanding of why your venture will succeed," said Bertoch. That's why it is very important to get started on the work now, he said.