|
 |
|
INVESTMIDWEST THRIVES
|
By
Ruth Wood-Steed
Adrenaline was flowing.
The stakes were high as biotech firms presented their cases
to venture capitalists. In only 10 minutes, presenters had to
sell their audience on their company and its plans in preparation
for future funding requests. Ten of the most valuable minutes
of their careers. Sure, networking opportunities were important,
as were the nationally-noted speakers on the program, but presentations
were key. So key, in fact, that presenters had honed their messages,
slides, and presentation styles in coaching sessions and dress
rehearsals, with venture capitalists and other professionals
serving their industries to guide them.
Such was the environment at the eighth annual InvestMidwest
Venture Capital Forum, held April 10 and 11 in Overland Park,
Kan. At this year’s forum, which alternates between St. Louis
and Kansas City, four life science presenters from St. Louis
vied with 11 presenters from Kentucky, Indiana, Kansas, Nebraska,
Michigan and Wisconsin for venture capital. In a separate track,
15 technology and general business presenters from seven states
also competed for funding. Six of those firms were from Missouri,
including four from the St. Louis area. Presenting firms will
learn in the next few months if their efforts were successful.
In only eight years, InvestMidwest has grown from a small event
representing mainly St. Louis firms, to become a major event
attracting life science, and technology and general business
presenters from across the Midwest, as well as venture capitalists
and service providers from throughout the United States. This
year alone 85 applicants, including 19 from St. Louis, contended
for 30 presenting slots. Candidates represented 18 states, both
inside and outside the Midwest. This year’s presenters seek
a combined $170 million. Their requests individually ranged
from $1 million to $25 million.
Why is InvestMidwest so important? Nick Akers, president of
Akermin, a four-year-old St. Louis firm that develops and commercializes
portable fuel cells based on its proprietary stabilized enzyme
biofuel cell technology, says he gives pitches at many forums.
“InvestMidwest is in the top of the forums, in terms of quality
and the number of venture capitalists in the audience,” says
Akers. Akermin received $400,000 as a result of Akers’ 2005
InvestMidwest presentation.
InvestMidwest board member Dr. Robert J. Calcaterra, president
and CEO of the Nidus Center for Scientific Enterprise, says:
“This has become the center of activity for the whole Midwest.
Because St. Louis tends to have very high-quality deals, we
tend to have a large percentage of the companies that present
that these venture people see. Now, because of the Archangel
Network and our relationship with the Angel Capital Association,
we’re starting to attract angel groups and angel people from
the Midwest as well.” That makes the forum just that much more
valuable.
Because interest in InvestMidwest is so high, its selection
committees carefully examine candidates when selecting presenters.
InvestMidwest Executive Director Chris Walsh says the committees
look at each firm’s business plan, management team, market,
competition and product concept. “Probably the most important
thing of all—that is always the management, because people invest
in people. If you have a management team that is either strong
in the industry, and/or has had past start-up experience, that’s
one of the major factors in terms of giving a company a leg
up. Also what’s looked at is the board of directors or board
of advisors, as that often indicates the quality of the firm,
based on who they’ve been able to attract,” says Walsh.
Most companies presented for the first time; however, selection
committees brought back an unprecedented five who had presented
in previous years—four in life sciences and one in technology.
They felt it was important to track progress of previously seen
firms, as well as to see new firms. One of those invited back
was St. Louis’ Kereos Inc., a firm that develops targeted molecular
imaging agents and therapeutics to detect and treat cancer and
cardiovascular disease. Kereos Chief Financial Officer Cathy
Matthes presented this year for the second time, as she did
in 2006.
This time, however, was different. Matthes updated the audience
about the company and its products, and apprised them that the
firm will be ready to raise $25 million in Series C capital
toward the end of this year or the beginning of next year. The
funding will help move Kereos’ first candidate, a targeted imaging
agent for tumors and angiogenesis (a physiological process in
which new blood vessels grow from pre-existing vessels, contributing
to tumor modification from dormant to malignant) through Phase
II clinical trials. Kereos also will use the funding to advance
the firm’s pre-clinical products for both cancer and cardiovascular
disease.
InvestMidwest, and the life sciences market in general, is becoming
continually stronger in the Midwest and St. Louis specifically.
Presenters such as Kereos, Edunn Biotechnology Inc. (Alzheimer’s
disease treatment), Envisioneering Medical Technologies (prostate
biopsy and treatment technology), and Medros Inc. (glaucoma
treatment) are evidence of that. Many life sciences companies
are advancing the state-of-the-art without assistance from stem
cells.
Organizing sponsors for the event included the RCGA, Missouri
Venture Forum, Greater Kansas City Chamber of Commerce, Kansas
Technology Enterprise Corporation and KC SourceLink, with generous
underwriting by the Danforth Foundation and the Kauffman Foundation,
and a diverse group of public and private entities.
|
NATIONAL
CORPORATE INVESTMENT
CONFERENCE COMES TO ST. LOUIS
|
By Ruth Wood-Steed
St. Louis’ status as a solid target for investment
capital will be evident again in September, when it hosts
the Midwest’s first Corporate Investment & Strategic Alliance
(CISA) Conference. Previously held only in Texas and Southern
California, the conference promises to bring high-quality
information and contacts to Midwest entrepreneurs and venture
capitalists. The conference will target presidents, chief
operating officers and chief financial officers of companies
with sales of $2 million to $100 million, who are already
venture/ angel-backed, or seeking their next funding round,
a strategic alliance or acquisition.
The conference, which will be held at the Renaissance Grand
St. Louis, will kick off with an invitation-only reception
September 19, followed by a day-long conference and evening
reception September 20. It will feature breakfast and luncheon
keynote speakers and/or case study of a corporate investment,
strategic alliance or acquisition, as well as multiple tracks
of breakout sessions throughout the morning and afternoon.
Attendees can select from four to six industry-focused panels
moderated by premier sponsors and venture capitalists and
consisting of four to five senior executives from major
corporations making equity investments, doing strategic
alliances and making acquisitions. Panelists will discuss
where their companies are heading, specifics as to how they
invest, and other pertinent topics. Previous panelists have
included representatives from major corporations in technology,
life sciences, manufacturing and energy, including Cisco,
Agilent, Baxter, Eli Lilly, General Electric and Siemens.
While specific industry-focused panels must be determined,
St. Louis Regional Chamber and Growth Association Vice President
and conference organizer Jay DeLong says the conference
will cover life sciences, agriculture, biotechnology and
information technology.
DeLong says “This conference has tremendous value for the
emerging company, the large company and all their service
providers (including the equity investors) along the way.”
For information about the National CISA Conference, contact
Jay DeLong at (314) 444-1130, or jdelong@stlrcga.org.
|
|
|
|
|
|
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
|
