A half dozen up-and-coming Colorado companies had the chance to showcase their wares and possibly receive an infusion of cash at the 12th annual Fall Finance Forum held Tuesday in Denver.
“It’s a beauty contest,” said John Backlund, an event organizer and business consultant.
Backlund, who helped whittle the field of 50 applicants down to six presenting companies, predicted that about half of those could receive financing through contacts made at the forum. He said investors are seeking firms with seasoned executives and promising products with the potential to generate millions of dollars in revenue.
“All of them would get funding if they can last long enough,” said Backlund, whose Denver- based firm helps companies raise money.
Hosted by the Rockies Venture Club, the event attracted several hundred attendees, including so-called “angel” investors looking to make deals, entrepreneurs seeking inspiration and service providers such as accountants or lawyers hoping to land new clients.
Steven Weigler, chief executive of Denver-based ScholarCentric, came looking for $2 million.
“This is a nontraditional investment,” said Weigler, whose educational publishing company provides dropout-prevention curriculum to K-12 schools. It’s not the usual target of venture capitalists.
“We have a lot of demand for our products, but we need the sales and marketing,” said Weig ler.
Weigler said his product, which launched in June, is being used by two school districts in Colorado. He said the company is talking with other school districts in the state and nationwide about adopting the program.
In addition to Scholar, Wireless Seismic Inc. and Chaperon LLC stood out among the presenters, said Caron Harte of Englewood-based Newline Consulting, a boutique investment consultancy.
Wireless, based in Boulder, is developing a wireless “mesh network” to replace current wired systems that transmit data during oil and natural-gas exploration. The main target market is companies conducting seismic surveys for oil companies.
Chaperon, of Louisville, is developing technology to allow companies to securely send software code to remote employees and partners worldwide.
Other presenting companies included food company Keen Ingredients Inc. of Louisville; battery maker Porous Power Technologies of Louisville; and technology company PrecisionWave Corp. of Colorado Springs.
Staff writer Will Shanley can be reached at 303-954-1260 or wshanley@denverpost.com.
