Bend Venture Conference adds 2nd big investor
Economic Development for Central Oregon (EDCO), host of the annual Bend Venture Conference (BVC), has secured the participation of Seven Peaks Ventures Fund I, LP, the Bend-based early-stage venture capital fund that invests in capital-efficient startups throughout the Pacific Northwest, who will be sponsoring a $100,000 Seven Peaks Ventures Investment Award for this year’s launch stage company competition.
Combined with Cascade Angels Fund 2014, LLC’s $121,900 investment, The Oregon Growth Account and Oregon Community Foundation of $50,000 and $25,000 respectively, the 2014 BVC will be the biggest ever with nearly $300,000 in capital available to companies competing in the competition, not including funds contributed by additional angel investors. The 2014 Bend Venture Conference will take place at the iconic Tower Theatre on Oct. 17 th .
“The news of Seven Peaks’ additional investment to the 2014 BVC is important in many ways to many different stakeholders in Central Oregon,” said Brian Vierra, EDCO Venture Catalyst. “The BVC is publicly acknowledged as one of the most important events in Oregon. The fact that we are orchestrating such a high quality event from Central Oregon is a testament to the spirit of the entrepreneurial ecosystem here. Mentoring and fostering start-ups is just one way EDCO works to create jobs in our communities. The BVC is our chance to publicly showcase the fruits of our labors.”
Seven Peaks’ involvement is taking the conference to a new level of opportunity for the five companies competing in the launch stage event.
“We created the Seven Peaks Investment Award to complement the existing BVC fund and to offer the entrepreneurial community here in Central Oregon the capital and expertise they need to build their businesses – hopefully creating a more level playing field for those companies that don’t have access to the financial infrastructure and services that exist in more mainstream tech meccas like Silicon Valley,” said Dino Vendetti, General Partner at Seven Peaks Ventures.
“Because the award can be granted to one company or divided among the five competing companies based on the pitches we hear, we think it will be a real game changer for the companies that stand out in the competition.”
The conference is divided into two categories that consist of five launch stage and five concept stage companies vying for investment and cash prizes.
The concept stage finalists compete for a $10,000 cash prize from BendBroadband while the launch stage finalist could collect the nearly $300,000 investment.
BVC cannot guarantee that investments will be made in any specific amount, because the final amounts to be awarded are dependent on investment commitments received from third party investors and the ability of the winning companies and the investors to agree on the terms and conditions of the investment.
