Five Entrepreneurs Selected to Pitch at Governor’s Utah Economic Summit 110 Applicants Submitted Their Plans for Funding Competition

Entrepreneurs from Caveon, D.A.M. Truck Tools, Precision Surveying Solutions, Rhaster.com and S2 will pitch for the chance to receive up to a $100,000 equity investment from a panel of investors at the Utah Economic Summit on March 22, 2007.

The five companies were selected by an angel panel consisting of the following individuals:
• David Norton: Grow Utah Ventures/ Olympus Angels
• Ronald White: Olympus Angels
• John Richards: Utah Angels
• Paul Campbell: Cache Valley Angels
• Brad Walters: Weber/Davis Angels
• Kent Thomas: Olympus Angles
• Tony Howells: Olympus Angels
• William Payne: Vegas Valley Angels
• Damon Kirchmeier: Utah Technical Finance Corporation

Over 100 Utah-based businesses applied for the opportunity to pitch to investors and a live audience at the Economic Summit.

“We had incredible response,” Blake said. “There were many amazing companies who applied making it difficult to narrow the field to only five presenters. Our hope is those who were not selected to present, will continue doing what they can to grow their business.”

The FundingUniverse team will provide each of the five selected entrepreneurs with feedback on the overall quality of the business opportunity. FundingUniverse will also assist the presenters in preparation for the pitch.

“We will work with the semi-finalists, who were selected by the angel panel, to help them prepare the very best presentation possible,” Blake explained. “This opportunity has surfaced some of the best entrepreneurs with the strongest business models in the state.”

Gov. Jon Huntsman Jr. will announce the winner during lunch at the Summit. The presentation by the entrepreneurs to the angels will be conducted as a part of the Summit. Audience members will be able to listen to the dialogue between entrepreneurs and investors. Attendees will hear angel investors discuss the strengths and weaknesses of each business. All who attend will come away with a strong understanding of how to make their respective businesses more attractive to equity investors.

“This is a very unique opportunity for all of Utah’s entrepreneurs,” said T. Craig Bott, President and CEO of Grow Utah Ventures. “The entrepreneurs who are selected have the opportunity to make their pitch to active Angel investors in Utah. Those in the audience will be able to watch the presentations. The attendees will gain some great insight as they hear the Angel investors discuss the strengths and weaknesses of each pitch. Those attending will come away with strong understanding of how to make their respective businesses more attractive to equity investors.”

What: Economic Summit and Funding Competition
When: March 22nd, 2007
Where: Grand America Hotel (Salt Lake City)
Semi-Finalists Companies:
• Caveon
• D.A.M. Truck Tools
• Precision Surveying Solutions
• Rhaster.com
• S2