Forty-six "survivors" have already been tossed off the venture-capital "island" in Utah this year, leaving only 19 contestants — 11 based in Utah — left vying for a chance to fund their existing or start-up companies.

Their potential path to riches — or at least a chance at owning a successful company — go through the Wayne Brown Institute's annual Choice West Equity Capital Conference to be held Thursday at Little America Hotel.

The lucky 19 who have survived the cuts so far will spend the morning rehearsing their 10-minute presentations and then take their make-or-break shot at gaining venture capital before a group of steely-eyed investors who are going to be more skeptical than ever given the failure last year of so many start-up companies, particularly those related to the Internet.

"With the shakeout in the technology sector, particularly dotcoms, the weeding process is even stricter" (this year), said Bradley Bertoch, executive director of the Salt Lake-based Wayne Brown Institute. "Our goal is to present and prepare the best-qualified companies to a group of motivated investors."

All of whom, of course, are looking to get in on the ground floor of the next Microsoft or Intel but will settle for a Novell or NPS Pharmaceuticals.

The Institute, named for the late University of Utah engineering professor, Wayne Brown, has become a nationally recognized educational nonprofit organization dedicated to helping entrepreneurs pitch their ideas before potential investors, some of whom are individuals and some representing corporations.

Over the past 17 years, the institute has helped some 400 companies raise more than $500 million in funding, resulting in 15 initial public stock offerings (IPO) with a combined market capitalization of $5 billion.

View Comments

Bertoch said 10 of last year's presenters raised $15 million last year. NPS Pharmaceuticals, which presented at the 1993 conference, recently completed an IPO that raised $193 million, led by CIBC World Markets Corp. and co-managed by Prudential Vector Healthcare Group and Robertson Stephens Inc.

Six companies — five from Utah — are looking for "early stage" capital — less than $1 million per year in sales and either "angel" or founders money.

Thirteen companies — six based in Utah — are looking for later-stage funds. These firms are currently venture-backed or have $1 million in sales.


E-MAIL: max@desnews.com

Join the Conversation
Looking for comments?
Find comments in their new home! Click the buttons at the top or within the article to view them — or use the button below for quick access.