The Wayne Brown Institute, a private nonprofit educational corporation, has started its Corporate Development Program that will analyze business plans and provide advice, training and introductions to venture capitalists and various other equity providers.
Brad Bertoch, institute president, said the program is based on 10 years of experience advising and working with high-tech companies and focusing on critical flaw analysis where investors and advisers determine issues companies need in seeking private capital and/or corporate alliances."Salt Lake doesn't have a heavy concentration of experienced resources to bring investors together with start-up companies." said Shirley Cerrudo, a partner at Novus Ventures, a California-based venture capital firm and co-founder of the Tactical Group, a consulting firm.
She said the program is an excellent tool for bringing venture capitalists together with en-tre-pre-neurs in a centralized and focused arena.
"Although many entrepreneurs have impressive backgrounds in technology, they lack backgrounds in business and marketing to place them in a position to attract investors," said Lynn DeBry, partner of KPMG Peat Marwick in Salt Lake City. He said the new program is valuable because it helps these entrepreneurs gauge the potential success of their ideas and products.