Springboard 2005: Midwest Venture Forum, Co-hosted by Northwestern University's Center for Women Entrepreneurs in Technology, Returns To Chicago.CHICAGO -- High Profile Women-led Companies and Region Investors Connect for Explosive Growth Springboard 2005: Midwest Venture Forum today showcased 11 of the Midwest's most promising women-led companies to an audience of investors on Northwestern University's Campus in downtown Chicago. Co-hosted by Northwestern's Center for Women Entrepreneurs in Technology and Springboard Enterprises, the event was designed to provide emerging women-led companies with access to investment capital and entree to a community committed to helping them build enduring businesses. Presenting companies included Accuri Instruments, Aerowire Communications, BioVitesse, Errand er·rand n. 1. a. A short trip taken to perform a specified task, usually for another. b. The purpose or object of such a trip: Your errand was to mail the letter. 2. Solutions, Kim and Scott's Gourmet Pretzels, RedPath Integrated Pathology pathology, study of the cause of disease and the modifications in cellular function and changes in cellular structure produced in any cell, organ, or part of the body by disease. , Restore Products, Star Farm Productions, Threefold Sensors
This marks the third biennial biennial, plant requiring two years to complete its life cycle, as distinguished from an annual or a perennial. In the first year a biennial usually produces a rosette of leaves (e.g., the cabbage) and a fleshy root, which acts as a food reserve over the winter. Springboard Enterprises Midwest Venture Forum event. Springboard Midwest alumnae Cantilever, ExtendMed, MinuteClinic, SafeRent, and Satisfusion have each raised venture capital and provided a substantial return to their investors. To date, Springboard has showcased 317 women-led enterprises at 14 forums held in major markets across the country. Nearly 80 percent of Springboard national alumnae report having received venture funding, for a combined $3 billion in equity capital, grants and strategic investments. Springboard: New England New England, name applied to the region comprising six states of the NE United States—Maine, New Hampshire, Vermont, Massachusetts, Rhode Island, and Connecticut. The region is thought to have been so named by Capt. 2005 will take place in Boston on November 18. Northwestern University's Center for Women Entrepreneurs in Technology, a regional business assistance center and incubator incubator, apparatus for the maintenance of controlled conditions in which eggs can be hatched artificially. Incubator houses with double walls of mud, a fireroom, and several compartments each holding about 6,000 hens' eggs were developed in ancient times; the for women-led technology companies, served as Springboard 2005: Midwest Venture Forum co-host. Other noted sponsors included the National Science Foundation and the State of Illinois Department of Commerce and Economic Opportunity. "This year's presenters are an incredibly talented and savvy group, representing the true spirit and passion of entrepreneurship," said Nancy Sullivan
Nancy Sullivan is an American actress, TV host and screenwriter. She is a comedic actress and received improv training as a member of The Groundlings in San Jose. , Executive Director of Northwestern's Center for Women Entrepreneurs in Technology and regional host. "By connecting Midwestern entrepreneurs with hard to reach venture capital and individual equity investors, Springboard Venture Forum will ensure these promising women-led companies gain access to the region's leading sources of investment capital." Chicago recently ranked 12th in the 2005 Entrepreneur and National Policy Research Council's Annual Entrepreneurial Hot Cities rankings, well ahead of peers such as Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. , New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. and San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden . Prior to participating in the Venture Forum, the 11 participating companies underwent a rigorous three month selection, training and coaching program involving hundreds of investors, accountants, lawyers, bankers and business development professionals. The program culminated with today's Forum, during which participating companies presented their formal business plans to an auditorium auditorium Portion of a theater or hall where an audience sits, as distinct from the stage. The auditorium originated in the theaters of ancient Greece, as a semicircular seating area cut into a hillside. of investors. Morning business presentations were immediately followed by a half-day program designed specifically for accredited accredited recognition by an appropriate authority that the performance of a particular institution has satisfied a prestated set of criteria. accredited herds cattle herds which have achieved a low level of reactors to, e.g. angel investors An individual who invests his or her own money in a private company, which is typically a startup. An angel investor is not an employee or member of a bank, venture capital firm or other financial institution that normally makes such investments. , The Angel Investment Forum. Over 45 investors registered to attend this year's event. "Springboard helps presenters learn how to best ask for funding," declared Edward J. Condon, Jr., Forum Committee Co-Chair and Chairman and Chief Executive Officer of The Paradigm Group, Ltd., a company that specializes in venture investments. "It is also a great opportunity to connect venture capitalists Venture Capitalist An investor who provides capital to either start-up ventures or support small companies who wish to expand but do not have access to public funding. Notes: Venture capitalists usually expect higher returns for the additional risks taken. with prescreened, best-in-class entrepreneurs that are seeking capital." Recent research about women and venture capital reflects the need for increased education and connections: --The 2004 Venture Funding for Women Entrepreneurs Report, co-produced by Re:Invention, Inc. (Chicago) and Growthink Research (Los Angeles), estimated that women-led companies received only four percent of venture capital. However, women healthcare and bio-technology companies appear to be experiencing higher than average capital raising success. --Approximately five percent of all entrepreneurs seeking angel funding are women, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. The Center for Venture Research. Of those women entrepreneurs seeking angel funding, only 12.5 percent were funded versus 18 percent in the general angel market. --As part of a March 2005 Access to Capital study, The Center for Women's Business Research suggested that education about growth financing opportunities could be the key to unlocking capital for women entrepreneurs. "While women-led ventures have lagged their male counterparts in securing venture capital, it is not because women are running businesses that are unattractive to investors," said Amy Millman, President of Springboard Enterprises. "Women simply have had limited access and knowledge about informal angel and venture networks. Springboard provides women entrepreneurs ready access to the right networks and a quality source of deal flow for investors." "The contacts I made via Springboard helped our company find and hire several key employees. The Springboard training and education process ensured that we were well-prepared as we secured investment," added Springboard 2001 alumna Amy Ravi, President and Chief Executive Officer of Evanston, Illinois-based ExtendMed, an online medical education company that has grown from $50,000 in sales to multimillions. A full list of 2005 presenting companies and a roster of all Springboard portfolio companies can be found at www.springboardenterprises.org. About Springboard Enterprises Springboard Enterprises is a not-for-profit organization that has had phenomenal success in preparing and showcasing women-led businesses seeking equity capital. The businesses participating in Springboard events across the country have raised $3 billion. Springboard delivers its programs and services through local affiliate organizations and a national network of entrepreneurs, investors, and business development professionals. For more: www.springboardenterprises.org. About Northwestern's Center for Women Entrepreneurs in Technology Northwestern University's Center for Women Entrepreneurs in Technology (CWET CWET Center for Women Entrepreneurs in Technology ), fosters women-led entrepreneurship to address the challenges that could keep women entrepreneurs from reaching their full potential. By providing access to necessary resources, training and networks, the Center enables women to turn innovative ideas into market-leading companies. For more: www.cwet.org. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion