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Technology investors to visit Tri-Cities

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August 16, 2000 Share This!

RICHLAND, Wash. — A Seattle-based group of investors is coming to town and the payoff could be big for two lucky companies. The group is encouraging small, technology-based businesses to apply for a rare opportunity-a chance to present their business plans in hopes of gaining valuable investment capital. The deadline for application is Sept. 15. The group also wants to provide information to accredited investors living in the Mid-Columbia region.

At the urging of the Department of Energy's Pacific Northwest National Laboratory and the Tri-Cities Industrial Development Council, the Alliance of Angels will hold an investor forum in Pasco in October-its first forum outside of the Seattle area. The Alliance of Angels is a program of the Technology Alliance; a non-profit organization dedicated to nurturing the growth of technology-based companies in the Northwest.

The Alliance of Angels aims to help private investors make better investments. It also acts as a matchmaker for individuals with money to invest-known as "angels"-and selected young technology companies seeking funding to grow to the next level.

The Alliance is accepting applications from companies headquartered in the Mid-Columbia that are developing a technology product or service and are in the early stages of development. Then the Alliance will select two of the applicants to make ten-minute presentations at the October forum in Pasco.

Interested companies may submit non-proprietary executive summaries of their business plans and resumes of top managers by Sept. 15 to Gary Spanner, PNNL Economic Development Office, Mail Stop K9-87, PO Box 999, Richland, WA 99352. Applicants can direct questions to Gary Spanner at (509) 372-4296. Local accredited investors interested in participating also should contact Spanner.

"Pacific Northwest is pleased to help coordinate this event because one of the laboratory's missions is to assist and help create new companies based on technology developed here," said Gary Spanner, manager of the economic development office at Pacific Northwest. "Access to capital is a major requirement in developing successful technology companies and the laboratory tries to promote economic development by helping companies gain access to capital."

The investor forum will take place on Oct. 11 at the Pasco Red Lion. Morning sessions will be open to the public and feature a panel presentation on how start-up companies can make themselves more appealing to investors. The forum also will offer a chance for business people and investors to network.

The event is being held in conjunction with a TRIDEC membership luncheon. The keynote speaker will be Jeremy Jaech, Technology Alliance board member and former Tri-Citian. Jaech formerly worked at Pacific Northwest and co-founded Aldus and Visio software companies. He currently is vice president of Microsoft's Business Tools Division.

Once the two selected local companies make their presentations, the Alliance will decide whether to endorse the companies to their member "angels." The members can then choose to form an independent group to invest in the technology. Typical investments range between $250,000 and $2 million.

Companies helped by Alliance investors include Onvia, HomeGrocer, Mountain Zone and a company that is making fuel cells for hand-held devices. More information on the Alliance of Angels' website.

Tags: Energy, Technology Transfer and Commercialization, Fuel Cells, Economic Development

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