Blog

September 17, 2009

Scranton to Host Venture Capital Fair

Ben Franklin Venture Idol will be a day-long event illustrating significant ways in which early-stage entrepreneurs seek and obtain seed capital from venture capitalists. It will include a venture capital version of speed dating, American Idol, and insights from one of the region’s most successful entrepreneurs. Ben Franklin Venture Idol will be held at the Hilton Scranton and Conference Center, 100 Adams Avenue, Scranton, on Thursday, November 5th, starting at 10:00 AM.

The event kicks off with venture capital speed dating, during which pre-selected early-stage company entrepreneurs present very brief “elevator pitches” to multiple investor panels. Companies interested in applying to participate should visit the Pennsylvania Angel Network website at paangelnetwork.com.

Speed dating will be followed by a luncheon featuring a keynote by Jack Tighe, CEO and Founder of TMG Health, Scranton. TMG Health provides turnkey business process outsourcing services and information systems to the Medicare, Medicaid, and retiree health plan markets. Founded just over a decade ago, the company has steadily gained market share and emerged from start-up to a major Scranton employer. The Ben Franklin Technology Partners of Northeastern Pennsylvania provided seed capital and business support resources to TMG at a critical stage in the company’s development. With more than 1,084 employees in the Scranton area, Jack Tighe and his team have generated significant income and jobs in northeastern Pennsylvania, and have substantially boosted the region’s information technology sector. Tighe will be introduced by Austin Burke, President of the Greater Scranton Chamber of Commerce.

Capping off the day’s events is the Venture Idol competition, in which three early-stage technology company entrepreneurs seeking funding will present short pitches to a panel of investors and the audience. Investors will be introduced by R. Chadwick Paul, Jr., President and CEO of the Ben Franklin Technology Partners of Northeastern Pennsylvania. The investors will ask questions and deliver presentations, guided by emcee Rob McCord, Pennsylvania State Treasurer. As co-founder and Managing Director of Pennsylvania Early Stage Partners, McCord has managed more than one billion dollars in assets and has raised money for start-up companies that have created more than 1,900 Pennsylvania jobs. After the presentations and panel input, the audience will vote. The Ben Franklin Venture Idols will receive prizes of cash investments in their companies of $5,000, $2,000, and $1,000 for first, second, and third places respectively. The day will conclude with a networking session beginning at 4:30 PM.

The day’s agenda follows.

10:00 AM         Speed Dating (For pre-selected investors and presenting companies only)

Early-stage company entrepreneurs deliver very brief pitches to multiple investor panels.

For details on who may apply/how to apply to be a technology company presenter, visit www.paangelnetwork.com.

12:30 PM           General Registration

1:00 PM  Luncheon Program

Keynote by Jack Tighe, CEO of TMG Health, one of the region’s most successful entrepreneurs.

Tighe will be introduced by Austin Burke, President, Greater Scranton Chamber of Commerce.

2:30 PM           Venture Idol Competition

R. Chadwick Paul, Jr., President and CEO, Ben Franklin Technology Partners of Northeastern Pennsylvania introduces investor panel.

Three early-stage technology entrepreneurs deliver investor presentations, guided by emcee, PA State Treasurer Rob McCord.

Audience votes for the 2009 Venture Idol; winners receive investment prizes.

4:30  PM           Refreshment Reception

Ben Franklin Venture Idol is hosted by the Pennsylvania Department of Community and Economic Development, the Scranton Lackawanna Industrial Building Company (SLIBCO), the Ben Franklin Technology Partners of Northeastern Pennsylvania, the Ben Franklin Technology Partners of Central and Northern Pennsylvania, Innovation Works, the Pennsylvania Angel Network, and the Northeastern Pennsylvania Venture Partnership. The ticket price for this event is $25 in advance or $30 at the door, including the luncheon and reception. Guests may reserve their place by downloading the registration form or sending contact information and a check payable to Ben Franklin Technology Partners, 125 Goodman Drive, Bethlehem, PA  18015.