May 2008

484_ The Music Industry Fights Piracy for Survival
In the nine years following the development of Napster, the music industry has changed dramatically. To match the new methods of downloading music illegally, there are new means of detecting such activity and new legal ramifications. Richard Gabriel, attorney with Holme Roberts & Owen goes on to point out other dicey issues. "The ethics of downloading music illegally and who should be responsible for such activity continue to be debated. This debate relates to the broader question of whether the music industry's business model, i.e. charging for the distribution of music-faces an existential threat not merely from piracy, but the proliferation of artists willing to share their music for free." Whether or not individuals can justify downloading copyrighted music from peer-to-peer networks or other outlets, the fact remains that this conduct is illegal. To underscore that message, the Recording Industry of America (RIAA) has brought thousands of lawsuits against individuals who have violated the copyright law. At the same time, organizations like the Electronic Frontier Foundation (EFF) have suggested that the advent of file sharing cannot be stopped by litigation. What if it was your music?
Related Links: Holme Roberts & Owen || It's the Law Channel || Electronic Frontier Foundation || Silicon Flatirons || Keywords: Richard Gabriel, Holme Roberts & Owen, Music Industry, Piracy, Recording Industry of America, Electronic Frontier Foundation, Downloading - Bytes: 24960839 - 5/5/08

482_ Money, Music and More: Bringing Balance - Your Soul Patch
Part one of the interview with Jason Mendelson and Ryan McIntyre, both Managing Directors with the Foundry Group was focused on intellectual property and the current 'copyright paradigm'. IP isuues are hot topics with their portfolio companies. Both men are dedicated to the success of the companies they work with. Larry had to ask, "How do you bring balance to your business and personal lives?" Jason's been playing the drums since he was 3, a percussionist, and actually supported himself playing music with big names like Aretha Franklin. Jason and Ryan met at Mobius in California. Ryan had built a recording studio in his home – 600 sq. ft of recording space, and had a band. Jason showed up one day, "..the idea was that I would be a consultant to the band." Things took off from there. Ryan said, "In general our lives are hectic with a thousand calls in the air, generally multi tasking, always thinking about the past, present and future, and the great thing about music... it’s then. When I’m playing music there’s no room in my head for anything other than the moment. That’s a liberating thing and it is great for bringing balance." BTW, the music at the beginning and end of this interview is a small part of the second album produced by Jason's and Ryan's band 'Soul Patch'. Enjoy!
Related Links: Foundry Group || Ask the VC || Venture Capital Channel || Soul Patch || Keywords: Jason Mendelson, Ryan McIntyre, Foundry Group, Venture Capital, Ask the VC, Trade Secrets, Intellectual Property, IP, Patents, Soul Patch - Bytes: 24152505 - 5/5/08

485_ The Investment Community Still Has Money for the Middle Market
Formerly an attorney and investment banker in New York on Wall Street, David Strong moved to Denver and is now a partner at the Denver office of Holme Roberts & Owen. During our discussion Dave said, "We are still seeing a vibrant economy in the middle market in Colorado, defined as anywhere from $20 to $100 million. There is definitely huge pressure on larger cap deals – credit markets have been tightened significantly – those deals are becoming harder to do. But what we’ve seen is a lot of capital, at least in the middle market waiting to be deployed. Buyers who raised their money before the credit crunch, before the investment community got so skittish. They are looking for value in their market, and I think, still finding it. Those deals still have some leverage, though not as much as prior to the big credit crunch. Terms, everything is a little tighter. We’ve seen valuation go down, exit multiples go down, with the pressure. But we are still seeing good companies getting good valuations and those deals are still getting done." Then Dave got into the selling side...listen for more.
Related Links: Holme Roberts & Owen || It's the Law Channel || ACG Denver Events Calendar || M&A: ACG DEnver Channel || Keywords: David Strong, Holme Roberts & Owen, M&A, ACG, Denver, Credit Crunch, Investment Community - Bytes: 22896956 - 5/5/08

483_ Social Entrepreneurship is Answering the Tough Questions
"The problems of the world will not be solved by governments and traditional charities," said Chris Pelley, Managing Director of Capital Investment Management Company (CIMCO) and Board Member of the Association of Corporate Growth in Denver. In the business community, many people are puzzled by the term, social entrepreneurship. Chris feels, it is the business people in our society who will ultimately make a tremendous difference in this field of philanthropy and problem solving. Larry asked, "You’re a registered investment advisor, how did you get involved in this?" I am intrigued by this idea. I was introduced to it by a friend at Oxford University; he mentioned it to me because he knew my daughters were interested in the subject. Being a father who cares, we were invited to attend the “Skoll World Forum Conference for Social Entrepreneurship” at Oxford, four years ago. People are going to get involved in this for a number of reasons. First and foremost; 87% of the children leaving colleges and universities want meaning in their lives more than they want money in their lives. These concepts are exploding around us. Parents and business people might want to discover more to help their teenagers and young adults through the new Ashoka Support Network.
Related Links: CIMCO Home || ACG Channel || ACG Denver Events || Ashoka || Keywords: Chris Pelley, Social Entrepreneurship, Ashoka, Capital Investment Management Company, CIMCO, Association of Corporate Growth, ACG, Denver - Bytes: 27056486 - 5/5/08

April 2008

481_ Intellectual Property Can Save You or It Can Get Ugly
Don't despair. The scary aspect, that a cheap patent lawsuit could cost $1 to $2 million to defend... Still, patents can make a difference when you are seeking an investor. Jason Mendelson, managing partner of the Foundry Group and Ryan McIntyre, also a managing partner of that Venture Capital firm go onto point out that a bigger patent case can cost $10 million and up. "Most are spurious with the intent to halt progress of a competitor, or put small startups out of business. The idea of a 7 or 8 figure legal bill, for a startup company to defend your intellectual property will destroy most companies. Even venture backed startups do not have the resources to fight that. They typically end up settling and making some sort of agreement where they have to pay royalties to the plaintiff." They talked about 'patent trolls' and pointed out that prior to 2007, 92% of the cases that went to trial, the plaintiff won...ouch. They discussed other IP issues and Jason said “Trade Secrets" are the forgotten stepchild of IP. When you hear trade secrets you think of KFC recipes. You don’t find too much Trade Secret protection happening in the VC world – I think that’s a mistake.” We don’t like the ‘patent paradigm’ we’re in, but in order to have a defensive strategy you’ve got to have a shield. We do encourage our companies to get patents. If nothing else, as a bug spray to the patent world. BTW, the music at the beginning and end of this interview is a small part of a CD produced by Jason's and Ryan's 'Soul Patch' band. Enjoy!
Related Links: Foundry Group || Ask the VC || Venture Capital Channel || Soul Patch || BYTES:23115131 - 4/28/08 > Keywords: Jason Mendelson, Ryan McIntyre, Foundry Group, Venture Capital, Ask the VC, Trade Secrets, Intellectual Property, IP, Patents, Soul Patch

478_ Communication: Top 3 Tips for CEOs to Improve Performance
Effective communication impacts every aspect of the organization. Sherry Law, entrepreneur and founder of Evergreen Communication and Board Member of ACG Denver is an internal and external communications expert. Larry asked, "Where does an organization start in making sure that it’s communicating effectively?" Sherry points out that it starts with the CEO and his/her vision. "Not just what it is, but articulating it so everyone understands, making it compelling and saying it often. Make sure vision supports strategy and goals. Make sure you have a dialogue between leaders and everyone else (both customers and clients). Just as important, make sure that communication is considered and addressed in every area of the company, especially if introducing change of any kind. Here are the 'top 3 tips' for CEOs. (1.) Show your true self. Personality doesn’t matter, people will accept who you are if you’re authentic. (2.) Tell the truth, don’t spin it, and don’t promise anything you can’t do. They want honesty. (3.) Communicate often. People put their own viewpoints on what you say, and you need to make sure that they truly understand the direction you want to take. All this and more from the ACG Denver Member of the Year.
Related Links: Evergreen Communication || M & A Channel || Blogging || BYTES: 19751395 - 4/28/08 > Keywords: Sherry Law, Evergreen Communication, ACG, Performance, Effective Communication, CEO

476_ Learn what Actually Goes Through a Venture Capitalist’s Head
Have you ever wanted to learn firsthand what actually goes through a venture capitalist’s head while doing deals. Jason Mendelson, Managing Partner of the Foundry Group levels with Larry as he is asked some probing questions about how Venture capitalists think. Larry wanted to know answers (and opinions) about: Whether it be the initial funding, later rounds, time of acquisition or IPO, what are the incentives that drive a VC’s behavior? How are valuations arrived at? Why do some companies get “better deals” than others? What exactly makes up a “good” deal? Join Jason Mendelson, who has over 10 years experience in the venture world and has structured more than 500 deals in excess of $8 billion dollars. Check this out: Assume a VC decides to invest in a company. What do they REALLY care about when negotiating a deal? There are so many terms to keep track of? How on earth do VCs value private companies? Why do some companies get higher valuations and some lower? What are the terms that can really matter? To the point that I lose control of my company? (Hint: Control and Return). Jason also shares the three key issues when VCs consider investing in a startup.
Related Links: Foundry Group || Ask the VC || Venture Capital Channel || Podcast Directory || Keywords: Jason Mendelson, Foundry Group, Venture Capital, Ask the VC, Valuations, Funding, IPO, Acquisition - Bytes: 25253410 - 4/21/08

472_ Best Practices for Building a Successful Online Business
"When you look at the web analytics, how many people come to your site, how they got there, so many people go to the search engines. A lot of my customers find that 30 to 75% of their business comes from search engines," says Lee Kennedy. Lee has worked with Brad Feld, been the CIO at Webroot Software and today is CEO/Founder of TriCalyx, a consulting business focused on helping people build an online business. 85% of the world’s online population, purchase online! And that’s up 40% over the past two years. And then for people in the 75K and higher income bracket it’s more like 90+%. Even for people who don’t buy online, they come online to research their purchases. With search engine optimization, there’s quite a mystique around SEO because it’s not one of those things you can totally get your arms around. I'll try to demystify it. Basically it’s figuring out how to get your web site [and the words people are searching to find your web site] ranked on the first page of Google. If you are selling on your site, there are so many ways to bring traffic to your site that really cost you nothing...
Related Links: TriCalyx || NCWIT || Women in IT || Blogging || Keywords: Lee Kennedy, Tricalyx, Search Engine Optimization, Online Business, Bytes: 16982834 - 4/21/08

477_ Challenges and Choices in Building a Virtual Company
Terry Morreale has interviewed a number of 'Women in IT' with all types of backgrounds, with a diverse group of job responsibilities and all with different goals and challenges. Terry is a Senior Engineer at Applied Trust Engineering and Director of the Women in IT Channel. She interviewed Beth Just, President and CEO of Just Associates at her home office. They have 44 employees and they all work virtually with most in Colorado, but others spread across the country. Beth is very proud about how her current team is working, but she points out some of the difficulties in building a virtual team. "Initially we found that it is recruitment because there are some people who can work out of the home and some that just can’t. Some people just can’t ever turn their work off, and some can’t seem to get to it.. So, the quality of the work they’re doing is constantly interrupted by their kids or dogs or that next load of laundry. We found that we had to structure our interview questions to solicit responses that would help us know whether they had a ‘responsibility character’, whether or not they could stay focused...
Related Links: Just Associates || Women in IT || Applied Trust || Podcast Directory || Keywords: Beth Just, Terry Morreale, Just Associates, Applied Trust, Women in IT, Virtual Company
Bytes: 20433505 - 4/21/08

473_ Lead in Computer Monitors and TV Monitors Going into Landfills
CRT monitors are the magic pieces that make everything on our television sets and our computors come to life. When they die or are being replaced by an upgrade they are often shipped overseas and in too many cases end up in our landfills. The lead (seversal pounds) in those monitors is hazardous and potentially dangerous to the wellbeing of humankind. Steve Fuelberth, President & CEO of Luminous Electronic Recycling (LER) has often been quoted as saying, " It’s not just pollution and doing your part, that is socially responsible. It’s also being responsible for customer data, intellectual property or other confidential information. Today, every business, institution and home has numerous electronic devices which will need to be disposed of in an environmentally responsible manner." Now, LER is taking that whole concept to a new level by installing the 'Angel'. We had a chance to see it first-hand, and it is truly remarkable. No more lead in the landfills.Many states have adopted regulations on end-of-life electronic goods. Most electronic goods contain materials that if put into landfills, could effect the surrounding area. All communities believe that recycling will save valuable landfill space and provide a safer environment. Listen now!
Related Links: Luminous Recycling || Environmental Facts || Computer Electronics Recycling || Mobile Technology Destruction || BYTES: 29493188 - 4/14/08 > Keywords: Steve Fuelberth, Luminous Electronic Recycling, Electronic Waste, Recycling, Landfill, CRT monitors, TVs

469_ Brad Feld, The Foundry Group - Why am I Passing?
"Over the years - I've come up with a set of filters to quickly turn down deals. This is an important process as I want to limit the time I spent investigating companies that I don't investment in. Rather - I want to maximize my time working with my existing portfolio companies and quickly / deeply evaluating new companies that have a high chance of us funding them. Every day I tell at least one entrepreneur that I am passing on investment in their company. Sometimes I tell 10. I don't know what the most in one day is, but it's probably more than 25. I try to respond to all emails so a lot of these are in the 'never were appropriate to pursue' category, but at least one each day is someone that I've actually engaged with beyond a cold email that was randomly sent to me. My first pass filter has three parts to it. The top level filter is 'Is this in a theme that I'm currently interested in?' If yes, then I try to determine whether or not I think the people involved can create a huge company. If yes, then I often at least spend some time going deeper." Larry asks Brad to expand on this and more. Brad also explains what it takes to stay on the positive road to funding. Listen in his own words.
Related Links: Brad Feld Blog || Why Am I Passig? || Lijit Search || Foundry Group || Venture Capital || Keywords: Brad Feld, Entrepreneur, Venture Capital, Funding, Portfolio Companies, Investing Bytes: 21760107 - 4/7/08

467_ Confidence Based Learning System and Your Bottom-Line
Mark Richtermeyer founder of the Spitfire Group and producer of the new "Disruptive Technology" Channel on w3w3.com brought up another 'disruptive technology' topic. Mark interviews Pat Engstrom, Chairman and Founder of Knowledge Factor about a patented, breakthrough technology that is truly disruptive and it's all about learning. Pat points out that, "Corporate training in situations where the consequence of confidently-held misinformation can be catastrophic." Health care is an area that has training challenges and is an area that is constantly in the news. Corporations are embracing Knowledge Factor’s Confidence- Based Learning System (CBL system) because it helps their employees learn faster, retain the information far longer and CBL proves Mastery of the learning material. Another focus is on education. The same technology can be used to greatly improve learning outcomes both in K-12 and Higher Ed. By using Knowledge Factor’s patented Confidence-Based Learning System, students will be more engaged, learn faster, have better standardized test scores. The role of the teacher can also move toward being more of a facilitator and spend quality time helping students apply the knowledge they learn using CBL. We can all benefit from CBL.
Related Links: Disruptive Technology Channel || Spitfire Group || Knowledge Factor || w3w3.com Blog ||
Keywords: Pat Engstrom, Knowledge Factor, Learning, Disruptive Technology, Spitfire Group, Mark Richtermeyer, Bottom-line - Bytes: 24104858 - 4/7/08

479_ Parents Have a Great Influence on Their Children's Success
Terry Morreale, producer and director of the Women in IT Channel, is passionate in her drive to bring the stories of “Women in IT” out, for many reasons. Terry says she loves interviewing these amazing women and learning about their experiences, their motivations, what makes them get up in the morning. But, another reason the Women in IT channel is so special to her is, she sees it as an avenue to inspire women to think about technology as a choice for them. Terry, a senior engineer at Applied Trust Engineering has for a long time been passionate about the concept of 'economic independence' for women. "Economic independence provides the opportunity for any person, man or woman, to be able to make life decisions in the best way possible." Being economically independent is not having to worry about decision making based on ‘I’m not going to be able to pay my rent’. I think it is extremely powerful. I want women, everyone to have that opportunity, to do whatever they want to do with that economic independence in their back pocket. "I hope that the Women in IT Channel is a resource for women who are at this inflection point in their life. Whether they are a middle school girl trying to decide if they want to take that computer class that’s offered, or a high school girl thinking about what they want to go to college to learn about." There's more...
Related Links: Women in IT || Applied Trust Engineering || NCWIT Heroes || Podcast Directory || BYTES: 24237769 - 4/28/08 > Keywords: Terry Morreale, Applied Trust, Women in IT, Economic Independence, Computer Class

480_ How are Women Changing the Landscape of Business?
Margaret Heffernan is an entrepreneur, Chief Executive and author. She was born in Texas, raised in Holland and educated at Cambridge University. She worked in BBC Radio for five years where she wrote, directed, produced and commissioned dozens of documentaries and dramas. In Magaret's first book, The Naked Truth: A Working Woman’s Manifesto on Business and What Really Matters, she brings up almost every important issue for women trying to climb the traditional corporate ladder. In some cases she offers solutions, either from her own experience and research, or through the shared stories of women she interviewed for the book. Melodie Reagan (in Denver) talked to Margaret (in England) about the changing tide in entrepreneurship and her new book, How She Does It: Redefining power and the nature of success for the 21st Century. The information is timely, useful and very eye-opening. Between 1997 and 2007, privately held businesses owned by women grew at three times the rate of all American privately held firms. Listen to the interview and then attend a program hosted by TiE Women's Forum where you can have a chance to interact with Margaret directly. Larry and Pat will be there.
Related Links: TiE Women's Forum || Margaret Heffernan || Auromira || BYTES: 27115836 - 4/28/08 > Keywords: Margaret Heffernan, Melodie Reagan, TiE, Women's Forum, Working Woman’s Manifesto, How She Does It

472_ Collaboratory, C2B2, Center for Revolutionary Solar Photo Conversion
“Who would have thought, just a couple of years ago, that you could get three universities and a national lab working together? Not only cooperating but enjoying the process,” said David Hiller, Executive Director of the Colorado Renewable Energy Collaboratory. Larry interviewed David Hiller and Carl Koval at the CU Tech Transfer Office in Boulder. On April 21st at the Capital building in Denver, three Colorado universities, Colorado State University, Colorado School of Mines and University of Colorado at Boulder and NREL together with a number of industrial partners will announce the formation of "The Center for Revolutionary Solar Photo Conversion". The main purpose will be to discover and develop 3rd generation solar photo conversion,” announced Carl Koval, Professor at CU Boulder in the Dept. of Chem. and Bio-chem. He also serves as the CU institutional coordinator for the Collaboratory and also the faculty director for CU Boulder’s Renewable and Sustainable Energy Initiative. They went into detail about the Collaboratory which is a major collaboration in the area of bio fuels and bio refining as well as C2B2 (the Colorado Center for Bio Fuels and Bio Refining) which has 28 industrial partners. There's much more...
Related Links: Collaboratory || C2B2 || CU TTO Channel || CU TTO || BYTES: 23543121 - 4/14/08 > Keywords: David Hiller, Carl Koval, CU Tech Transfer, Collaboratory, C2B2, Center for Revolutionary Solar Photo Conversion

475_ Colorado: The Silicon Valley of Renewable Energy
(Part 2 of 2) ConocoPhillips purchased the old Storage Tek site in Louisville, and their current plan is to create a 5000 to 10,000 person research and training center related primarily to their interest in renewable and alternative energy. They’re doing that here in Colorado, but they’re not the only one setting up offices here! David Hiller, Executive Director of the Colorado Renewable Energy Collaboratory and Carl Koval, Professor at CU Boulder in the Dept. of Chemistry and Bio-chem (and he also serves as the CU institutional coordinator for the Collaboratory; and also the faculty director for CU Boulder’s Renewable and Sustainable Energy Initiative) discuss the growth of the this past year. A year ago when we were starting the Collaboratory we used this phrase, kind of tongue in cheek – “Colorado the Silicon Valley of Renewable Energy”. But it’s no longer tongue in cheek. These companies are not only investing in research, they’re moving here. They range from Fortune 50 companies to very large international energy companies such as ConocoPhillips, Chevron, Shell, DuPont and more... In addition, there is a great deal of interest from the private sector.
Related Links: Collaboratory || C2B2 || CU TTO Channel || Tech Transfer Office || Keywords: David Hiller, Carl Koval, CU Tech Transfer, Collaboratory, C2B2, ConocoPhillips, Chevron, Shell, DuPont - Bytes: 19941149 - 4/21/08

468_ This is a Story Only James Crowe Could Tell - Level 3
Phil Weiser, Professor of Law, Associate Dean for Research & Executive Director of Silicon Flatirons Center, introduces James Crowe, CEO and President of Level 3 Communications (since it’s founding). Phil went on to say, “He is a unique individual in the Internet world. Before that he was also the founder and CEO of MFS Communications, one of the leaders in building fiber networks. James Crowe is really a unique part of our communications world here.” Larry Nelson and Phil ask James a number of probing questions in this 'Profile of a Leader' series for the Communications Technology Professionals (CTP) Channel. Looking at the changes we have all been through, James said,"Yes, things have changed a bit. I think it’s gone from speculative, way out thinking to an everyday part of most people’s lives. We take it for granted that we can obtain almost any kind of information we choose over our broadband connections. It certainly has changed the way we work, the way we entertain ourselves. We’re watching real time as it changes how we govern ourselves – politics is changing. Because fundamentally for 100 years we had a communication system that extended our ears, that’s the telephone system. Now we’re right along, building a communications system that’s extending our eyes. Ninety-nine percent of the information we collect comes through our eyes." Then Phil and Larry brought up values and ethics. Listen to the answers in his own words.
Related Links: Communications Technology Professionals || CTP Channel || Level 3 Communications || Silicon Flatirons || Keywords: James Crowe, Level 3 Communications, Phil Weiser, Communications Technology Professionals, CTP, Silicon Flatirons, Cable - Bytes: 24704212 - 4/7/08

471_ Part 2 of 2
What do Bill Gates, Larry Page, Sergey Brin, James Crowe Have in Common?
"What do you recommend to entrepreneurs trying to build a business, to focus on, have in mind to be successful?" was one of many questions asked by Phil Weiser and Larry Nelson and directed to James Crowe, CEO and President of Level 3 Communications. James said, "Asked often, my answer is always the same. Passion! Quite a number of people want to be entrepreneurs because of the rewards. They think that Larry Page and Sergey Brin at Google are who they want to be. Or Bill Gates, or fill in the blank… of people who very prominently had the success from that “great entrepreneurial idea”. One ought to undertake that kind of effort, clearly understanding that you give up a great deal. Balance in your life is gone. You have to spend an enormous amount of time working on your idea, to the exclusion of what many others think are the normal things in life. And if you do it to simply because you think you’ll get rich, you run a high probability of disappointment. If you do it because you are passionate about your belief, or idea or your effort – then the reward is separate and distinct from any monetary returns. I'd say unless you enter it with that kind of belief, you’re going to have every opportunity to be very unhappy with the outcome." They also asked him what the turning point in his life was. Listen for more...

470_ RVC Capital Conference - Lessons from the Start !!!
Are you looking for investors? Sharpen the old proverbial pencil; Check in with RVC and the Colorado Capital Conference and, do it now! Times-a-wasting! The application process is amazing. Take a 'benchmark survey' and you'll get an executive report that is a 'gap analysis' for entrepreneurs, says Kevin Johansen, one of the folks putting this thing together. He reminded us, "last November at the RVC Angel Capital Summit, they had 40 'deal screeners' working in four US time zones and Europe." Kevin encourages every entrepreneur listening to apply simply because of the learning that comes with it. And the 'deal screeners' - it's a web based, collaborative environment. They're all over the map, their primary focus is financial and most are conduits to capital, or have capital. The progarm appears to be phenomenal. Larry Nelson will be moderating a panel on building an effective team for an entrepreneurial organization. With 3 VC's on that panel you'll definitely get a feel for what you need. And Kevin plans to 'rock the house' with a Marketing 2.0 conversation. It'll be fun, informative and you'll get to learn a little 'VC speak'.
Related Links: Colorado Capital Conference || Rockie Venture Club || The Business Catapult || Venture Capital || Keywords: Rockies Venture Club, Colorado Capital Conference, The Business Catapult, Kevin Johansen, Gap Analysis, Deal Screeners, capital >> Bytes: 19937805 - 4/9/08

March 2008

464_ This Could Be the FIRST Step to Bringing Out Innovation in Our Youth 3/31/08
In September 2002, CSIA invited Dean Kamen, founder of FIRST and President of DEKA Research and Development to talk about innovation. While Dean is too humble to claim this, many call him the the father of innovation spirit. At the event, Dean Kamen entered the Seawell Ballroom in what looked like a motorized wheelchair. The wheelchair proceeded to 'walk' up the stairs of the stage, over to the podium and then the wheelchair proceeded to lift Dean at a level that would be comparable to a 6'6" person. The audience was amazed and listened to his humorous and insightful talk. After a little discussion, one of Dean's teammates brought up on stage what is now widely known as the Segway. The first few seconds of this unedited recording you'll hear Dean on his high-tech wheelchair climbing the stairs of the stage onto the podium. Dean goes onto point out that, "Many youth are are inspired to be a Michael Jordan, but it's more likely they will end up flipping hamburgers." That's a tough sentence for parents and grandparents to hear, but unless there is a change, you know the rest of the story. Dean Kamen and FIRST offer an exciting alternative...and now we have Colorado FIRST. Larry and Pat along with grandchildren (and hundreds of others) recently attended the Colorado FIRST Regional Competition held at DU. It was the most exciting and uplifting event they have attended in decades. Listen to Dean Kamen's talk, take a look at the photos and visit their site...if you don't know what to do next, give us a call. VIEW Photo Album from Dean Kamen's Visit
Related Links: Colorado FIRST || Segway || US FIRST || Find It || 3/31/08 BYTES: 78314164 - Listen Part 1 of 2
BYTES: 79476927 - Listen Part 2 of 2

3/31/08 466_ Moving From an Innovative Idea to Commercialization
Have you ever wondered how you could get money for a high-risk innovative idea. Jeff Richardson, President of Living Systems explains how. Learn how small technology companies can access substantial funding from the federal government. This is the funding that can pay for high-risk R&D. Jeff explains that the processes are clear, complete, and fair. But it is also highly competitive, scientifically rigorous, and extremely time-consuming. However, the process forces you to think through your technology and its commercial potential...the latter is a requirement of the SBIR program. Because of the competitiveness and long time frames, companies pursuing SBIR funds are advised to have a “ladder” of proposals in the pipeline. Jeff answers these questions about the federal grant program, Small Business Innovative Research program (SBIR). Why is your company interested in SBIR money? How do you apply for SBIR funding? How is the SBIR funding working out (Both the Pros & the Cons)? Where does it all lead? Jeff shares a number of tips that could help you and your innovative company get a federal grant...it's money you don't have to pay back.
Related Links: Living Systems || NIH Grants || SBIR Colorado || Looking for Money || BYTES: 23521387 - 3/31/08 KEYORDS: Jeff Richardson, Living Systems, SBIR, Small Business Innovative Research, Commercialize, Innovation, R&D

3/24/08 462_ Commercialization of Innovative Ideas - Far Reaching and Profitable
Eltron Research & Development is one of the largest SBIR companies in the country. Paul Grimmer came out of big business; he worked for Conoco and Conoco Phillips for almost 30 years, and never dealt with SBIR, because it’s for small businesses. About 2 ½ years ago Paul and his wife bought Eltron Research. “Eltron had developed over 100 technologies that we thought had commercial value”, Paul said. But the focus was, ‘let’s get the next project’, not taking the one you finished and going to the market place with it. The big challenge is, there are very few projects ready to go to market after completing a phase two SBIR program ($850K). Some of them may require ½ million, a million, some may require a hundred million dollars, but the key is, there’s no more money from the feds. You’re too early for the VCs, less for the angels who generally don’t understand a lot of the technologies. So, how do we get all this, or at least a significant fraction of these technologies to market? This is really what the SBIR program is all about, to help the small businesses get a jump start in getting their innovations to the market. Classically most SBIR companies are focused on science and maybe to a lesser degree engineering. So, we’ve added engineers, business developers, and of course all this costs money outside of SBIR. So that’s a challenge, just getting the right skill sets in there to help analyze and develop things, and so forth. So how do you bridge that gap? Well, we’ve elected to go down two routes, one (longer term) is to find larger companies in the industry that have deeper pockets that might be interested in forming a new product line or enhancing a product that they’ve got. You work a deal with them and in return for them funding additional development they retain the rights to your technology. Some of that can take a long time. The other thing we’ve done, since I’m not interested in giving away huge chunks of our technology, at least until we get them into the market place, has been to do some things so that we can continue the development ourselves.
Related Links: Eltron Research & Development || SBIR Sources of Info || Looking for Money || w3w3® Blog || Keywords: Paul Grimmer, Eltron, Research, Development, SBIR, Research, Commercialization, Innovative, Grants 3/24/08 - Bytes: 25745766

Brad Feld - TechStars Closing Applications Today! 3/24/08
Brad Feld talks about the mentoring that the TechStars receive. It fills the experience gap by bringing together the best and the brightest in one place and surrounding them with incredible proven mentors for the summer. With this much talent in one place you’ll get great advice on your product and strategy, thereby ensuring the best possible start for your new business. Did we mention funding? Seed funding? TechStars fills the startup funding gap by providing just enough capital to get your idea off the ground. Your new company receives up to $15,000 in seed funding. Application Due Date: March 31, 2008.
Related Links: TechStars Details || TechStars Mentors || TechStars Blog || Feld Thoughts || KEYWORDS: Brad Feld, David Cohen, TechStars, Entrepreneurs, Mentors, Funding Bytes: 25745766

3/31/08 465_ Developing Novel Cancer Therapies and Understanding the Patient Outcomes
There are four main types of cancer. About 85% are non-small cell types and the balance small cell, that often identifies lung cancer. Larry visited and interviewed Dr. Paul Bunn, Jr., Professor of Medicine and Director, University of Colorado Cancer Center as well as holding the James Dudley Endowed Chair of Lung Cancer Research. Dr. Bunn was recently awarded the 'Inventor of the Year, Denver, by the University of Colorado Tech Transfer Office (CU TTO). CU TTO is very often the conduit that helps bring great research and innovative ideas from the bench to the benefit of the general public. Dr. Bunn spoke to the community as a whole, offered some easy to understand explanations for the lay person. People often identify surgery and drugs as the ways of dealing with cancer issues. Dr. Bunn discusses the targets of new cancer therapies and how they are identified. He also shines light on how drugs that attack these targets are discovered and produced. Dr. Bunn describes how clinical trials are done and what preclinical information is needed. The success rate is described as potentially 2 out of 3. Dr. Bunn works with federal agencies, professional associations, universities as well as private sector companies such as Apoplogic. You will learn how new cancer drugs are developed and tested including how long it takes, how much it costs, the pitfalls, and success rates. Outcomes for cancer patients are discussed.
Related Links: University of Colorado Cancer Center || Apoplogic || CU TTO || Podcast Directory || BYTES: 26255028 - 3/31/08 Keywords: Dr. Paul Bunn, Cancer Research, Clinical Testing, University of Colorado Tech Transfer Office

3/24/08 460_ Silicon Valley Bank and the Clean Tech Investment Space
“Let’s take a step back and talk about the difference between debt and equity – they both have their own uses. You should be financing assets with debt. Equity, you can finance either expenses or assets,” points out Frank Amoroso of the Silicon Valley Bank. He goes onto say, “However if you have worked hard and sold a portion of your company to raise equity, if you don’t have to, you shouldn’t use those equity dollars to finance assets, if you can get debt dollars to do so. And then you take a look at the company’s balance sheet and income statement. If the company has balance sheet strength they should be able to qualify for some kind of debt. Absent balance sheet strength or P&L strength, really what you’re talking about is equity. As a federally regulated banking institution, we like to think of ourselves as quite a bit different than the other 8000 banks in the US. Clean tech area is hot and Frank is one of three individuals across the nation dedicated to clean tech practice. ). “Definitely clean tech is hot, sustainability is hot, you get the sense that more and more investors are stretching to look into this market sector. The way that SVB is looking at that is going to be an extension of our historical model. That is to leverage that equity investment with debt. The right amount of debt, every company has its own balance of debt vs. equity, there is a correct number. We’re really more focused on the tech part of clean tech, disruptive intellectual property, professional equity sponsorship, if a company has both of those in the clean tech space, then we’ll be able to do even more than we’ve historically been able to do. If on the other hand the technology is a great efficiency plan, installing all new solar panels, or it’s maybe a lighting technology, you know, still interested. Can we be as aggressive? Can we get in as early, do as many things? Probably not, because our historical model has been to truly leverage that professional equity sponsorship.” Frank also addresses potential challenges including the credit crunch and the high-tech bubble reoccurrence.
Related Links: Silicon Valley Bank || Conscious Economy || Venture Capital || Find It || Keywords: Frank Amoroso, Silicon Valley Bank, Green Tech, Clean Tech, Debt, Equity, Investing, Finance, Assets, Bank, Technology, Bioscience Bytes: 25231676 - 3/24/08