From: The Venture Capitalist
To: Scott Jenkins,
Subject: The Venture Capitalist - Local Venture News You Can Use
Date: Mon Jun 16 21:38:37 MDT 2014


What the Venture Community Reads

    June 16, 2014                                                                                   

Utah Venture News


Utah's Business-Friendly Environment Gets Attention


Originally posted on


For the second year in a row, Utah has been named the most small business-friendly state in the country in the Small Business Friendliness Survey conducted by in partnership with the Ewing Marion Kauffman Foundation.


"After a two-month survey of thousands of small business owners nationwide, Utah has emerged as the top state for business friendliness once again," says Jon Lieber, Chief Economist of Thumbtack. "Creating a business climate that is welcoming to small, dynamic businesses is more important than ever, and for small businesses looking for an educated workforce and a welcoming environment, Utah is a great place to locate."





Utah Stands Out in U.S. Chamber Enterprising States Report


Originally posted on | PR


Washington, D.C. – In the annual U.S. Chamber Enterprising States report, Utah earned the most top 10 and top 25 rankings in the 33 categories measured in the study. The updated edition of the report, released Wednesday at the chamber’s Small Business Summit, takes an in-depth look at the free enterprise policies being implemented to promote economic growth at the state level.





Utah Tech Industry Continues to Sizzle


Originally posted on | By Rachel Madison


Salt Lake City – Utah’s technology industry is continuing on an upward swing according to data released Wednesday by the Utah Technology Council.


The UTC releases information regarding the state’s technology industry annually in June. The data released Wednesday highlights the growth from September 2012 to September 2013 and is gathered from various institutions, including the U.S. Department of Labor, U.S. Census Bureau and Utah Department of Workforce Services.




Venture Profile



Flagship Ventures is an early-stage venture capital firm that primarily seeks to invest in the therapeutics, health technologies, sustainability and clean technology sectors.  The firm is headquartered in Cambridge, Massachusetts, and was founded in 2000.




Cooperative Venturing Network®

People You Should Know


Craig Buschmann



Criag Buschmann is an intellectual properties attorny at Brinks Gilson & Lione and advises clients on how to best protect and exploit their valuable intellectual property, whether through patent, trademark, or copyright. In addition, he drafts and guides clients’ patent and trademark applications through the U.S. Patent and Trademark Office as well as international patent and trademark offices. Mr. Buschmann also advises and participates in complex patent, trademark and licensing litigation. His experience includes the area of mechanical and electromechanical technology in the areas of oil and gas exploration and processing, aerospace, automotive, sporting goods, medical devices, semiconductors and semiconductor packaging.


Prior to becoming an attorney, Mr. Buschmann spent several years working for Schlumberger Oilfield Services as a field engineer on projects in Bolivia, Barbados and the Gulf of Mexico. He also has practical engineering experience earned with GE Medical Systems and Johnson Controls’ Automotive Systems Group.


Upcoming Venture Community Events





Funding your company starts on June 18th at Weber State Downtown in Ogden


Raising capital for your company can be a complex process laiden with pitfalls and setbacks.  Get answers to your questions:

  • Is my business ready for funding?
  • What is the best source for it?
  • How do I get access to it?
  • What are the key elements to secure it?


Register Here for Ogden Event






Utah County





June 25th, 2014

Red Canyon Room @ Zions Bank

in Provo, Utah




Join Us for WBI's

Deal Forum

This Deal Forum is a live pitch event and will feature a number of entrepreneurs who are seeking capital for their ventures. This event is designed specifically to provide a safe venue where entrepreneurs can pitch their ventures to a panel of investors for the sole purpose of receiving feedback on their venture, pitch content, as well as market opportunity assumptions, forecasts, or necessary milestones needed to become successful.  


This is the essence of commercialization.  


Presenting Companies:


FCTRS - provides enterprises a cloud based health platform for employee wellness or health product add on. We have gained high user adoption through amazing UI, relevant BI that lowers costs and generates revenue.


MommiLife - has developed a prenatal protein powder for women who are pregnant or nursing in partnership with a reputable OB/GYN and Twinlab, its development, manufacturing, and distribution partner. Twinlab has agreed to support inventory cashflow as well distribute the product through its network of 40k+ stores. MommiLife will release new products as it gains traction including teas and other proteins for women and active moms.


Snow Lizard Products - Our mission is to bring mobile accessories that enhance usability, increase security and protect the latest technologies to market. The SLXtreme is the first ever battery powered, solar charged, rugged under water iPhone 4/4S case made with technology enthusiast and adrenaline junkies in mind. Now for the iphone 5s and iPads, our flagship products will let you take your phone anyplace, anytime, anywhere.


Sphere Manufacturing, Inc. - produces 3D metal printers for 1/4 the cost of our competition, with an expected machine lifespan 5x that of our competition. We are leveraging extant channel partners to reach markets that have been previously under-served by the 3D metal printing industry due to the current price point; in other words, we are a new-market and low-cost disruptor in the 3D metal printing industry.


Investor Panel: 


Members of the various local Angel and Venture Capital groups.



Where entrepreneurs and investors meet!




WBI - Alumni Financing Events and News


Financing Events


Company: AirVend            

Location: Provo, Utah


Description:  Airvend, Inc., a vending technology company, manufactures touchscreen vending devices.


Amount Raised: $1.2mm

Date: Q4 2013





Control4 CEO: not Just americans adopting the 'Internet of things'

The "Internet of Things" is now a reality and Control4 is offering homeowners the option of a wired household through both Apple and Android devices, says the company's CEO Martin Plaehn.




If you are an Alumni Company and you have Press Releases on financing events, new product launches, or milestones celebrations; please email us a link to the news and we will include it here. 


WBI - Sponsor News



Last Week's "How To Raise Money", a huge success.


The Wayne Brown Insitute appreciates Brinks Gilson & Lione for hosting the "How To Raise Money" event last week at their beautiful office on the 19th floor the 222 S Main Building in Downtown Salt Lake City.  Craig Buschmann, an attorney with the firm, shared his insights on how startups can go about protecting their intellectual property with our attendees. 






Jessica Wilde Elected Jones Waldo Shareholder


Originally posted on


Jones Waldo, one of Utah’s most enduring and prestigious law firms, has elected Jessica Wilde as its newest shareholder. The firm also elected three new members to its board of directors including Ken Oakazaki, Mark Tolman and Lucy Jenkins.

Wilde has been with Jones Waldo since 2008. She serves as a member of the Jones Waldo Women Lawyers Group, the first group of its kind to be established within a Utah law firm. Wilde’s primary focus is commercial litigation and she is skilled in litigation and bankruptcy, creditors’ rights and employment law.






If you are a Sponsor and you have Press Releases, corporate events, organizational news you would like us to share here; please email us a link to the news and we will include it. 



In This Issue



Upcoming VC Events

How To Raise Money
June 18th, 2014
Ogden, Utah 
Weber State University Downtown
The Deal Forum
June 25th, 2014
Zions Bank - Provo
August Joint Luncheon
August 21st, 2014
Thanksgiving Point -
Garden Room


Angel Investor News


Would a Higher Accredited-Investor Threshold Clip Angels' Wings?


Originally posted on | By Scott Shane


Does raising the financial requirements to be an accredited investor reduce startup financing? The Angel Capital Association (ACA), a trade association of angel groups, claims that it does. But data on the angel capital market’s response to the 2010 increase in the threshold doesn’t support their view.

Later this year, the Securities and Exchange Commission will decide whether to raise the income and net-worth requirements to be an accredited investor, following the requirement in the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 to periodically reevaluate the current standard.





3 Angles for Understanding Angels


Originally posted on | By Debra Kaye


Not everyone trying to raise funds for a new venture succeeds in scoring a check from Oprah.


But Judith Griffin is a determined woman with high expectations. She founded Pathways to College, which is based in Teaneck, N.J., in 1994 to help minority high school students across the country receive extra preparation and encouragement via after-school programs so they could be ready for (and complete) college. 






VC Industry News


Deciphering The Economics Of Venture Capital


Originally posted on | By Matt Oguz


When Nassim Nicholas Taleb developed his popular theory to explore way-out-of-the-norm surprising events, he outlined three characteristics of a black swan event:


1.    The event has a huge impact

2.    The event is very hard to explain using (commonly used) scientific methods

3.    The event appears unforeseen due to people’s psychological biases.


The black swan events are popular in venture capital, a unique asset class that historically has all three characteristics as Taleb outlined in his colorful book. What makes venture capital different from other asset classes is its complex qualitative and quantitative characteristics. The qualitative attributes are widely covered. The quantitative characteristics, not so much.





These 25 companies obtained huge exits without raising much venture capital


Originally posted on | By John Cook


Raising big piles of venture capital doesn’t always guarantee success. In fact, it often puts more pressure on entrepreneurs to produce eye-popping returns for their investors.


A much more desirable path is to raise a small amount of capital or no capital at all — and then produce a huge return. That keeps more of the ownership (and control) in the hands of the founding team. Here’s a look at 25 of the most capital-efficient companies over the past five years.






7 ways to secure startup funding that they don’t teach in business school


Originally posted on | By Asif Khan


Fundraising is arguably the most important issue for any entrepreneur. Without financial backing, even the most brilliant idea will never see the light of day.  This is a daily fight for start-ups as they delicately balance cultivating their billion dollar idea while struggling to come up with the next hundred dollars to keep the lights on. The reason this is so difficult is because wooing investors is an art and not a science.





Why healthcare entrepreneurs should embrace the iterative


Originally posted on | By Cristina Hernandez Sherwood


In the early days of the patient safety and healthcare improvement company Qualaris, the startup's team installed wireless tracking sensors in hospitals to help healthcare providers improve compliance with best practices. But Qualaris wasn't a hardware company for long, said co-founder and CIO Dan Bishop. "We realized that we weren't solving enough problems," he said, "and we weren't doing it efficiently enough."


The shift from hardware to software data analytics allowed Qualaris to offer more value to customers, Bishop said. Embracing the iterative nature of early-stage entrepreneurship and following through with the pivot, Bishop said, "was one thing that has been an interesting journey for us."




Crowdfunding News


Congressman McHenry: New Crowdfunding Bill Expected in July


Originally posted on | By JD Alois


Congressman Patrick McHenry, one of the investment crowdfunding industry’s most resolute champions, was recently interviewed during a trip to Boston where he was apparently rallying troops and gathering feedback on crowdfunding legislation.  McHenry has always viewed retail crowdfunding as way to democratize access to capital:  help those small businesses in need of funding while creating much needed jobs for the economy.  Paradoxically there appears to be some within the halls of Capitol Hill that do not share his fervor in boosting economic growth.




Articles of Interest


The Technology Stack of Billion Dollar Startups


Originally posted on


Analyzing the technology behind $1B+ valuation private venture-backed companies with CB Insights Tech Stack data.


The technologies that leading private companies are using (aka their Tech Stack) are now available on their CB Insights profiles.  With the addition of this tech stack data on programming languages, frameworks, and databases powering startups across the tech ecosystem, we wanted analyze what technologies are being used by today’s most valuable startups.




Here’s the proper way to evaluate a startup’s equity offerings


Originally posted on | By Michael O. Church


One thing that young people are very bad at– to their detriment, and VC-istan’s profit– is evaluating equity in a startup job offer. They don’t understand the numbers, what they mean, or the processes that lead to them holding certain values. Many focus unduly on percentages, which isn’t the right way to go. 





The Ascent Of Early-Stage Venture Capital


Originally posted on | By David Bloomberg


Early-stage funding by angels and venture capital firms is growing in size and impact on the technology industry.


Last year, U.S. venture capital firms raised 10 percent less than in 2012, but VC funds focused on early-stage investing raised $9.37 billion, a jump of 51 percent, according to DJX LP Source. In addition, 151 early-stage firms closed funds – more than in the last dozen years. Moreover, investment returns among early-stage venture capital funds are starting to outpace late- and expansion-stage funds, according to the most recent National Venture Capital Association’s (NVCA) performance benchmark, the Cambridge Associates LLC U.S Venture Capital Index.




Feel Good Monday


Great uplifing stories to start the week out with.






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Email the editor if you have any articles of interest or questions.




Utah Business Lending Corporation manages a $7,000,000.00 Salt Lake County revolving loan fund focused on high tech companies in the Salt Lake County Area. We make 5 year bridge loans up to $250,000.00. The purpose of the fund is to create jobs. Currently 6 banks support the fund with a million dollar participation.



Utah 100 Application


MOUNTAINWEST CAPITAL NETWORK – Recognizing Utah’s Fastest Growing Companies


Utah 100 Program


Deadline: Must be postmarked, faxed, or submitted online at by June 30, 2014


Awards will be presented based on revenue growth from 2009 through 2013. To be eligible, the applicant must complete all applicable information below and meet each of the following criteria:

  1. be a for-profit Utah-based corporation, limited liability company, or partnership;
  2. have five full years of operating history; and
  3. have had a minimum of $50,000 in total revenues in fiscal 2009.

Note: If the Company had less than $50,000 in revenue in 2009, please use the Emerging Elite application.




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