DES MOINES (May 25, 2001) -- Iowa’s breadth of tech talent and lack of venture capital have created a great environment for “angel” investment according to Dick Schwab, an Iowa City investor and member of Software and Information Technology of Iowa’s (SITI) capital formation committee.
Schwab is one of the investors attending SITI’s upcoming events supporting the connection of Iowa’s emerging tech companies with individual, private investment capital. He says SITI’s investment seminars and networking are keys to building Iowa investors’ confidence.
“Angel investing – making small, individual investments in emerging companies – is actually a team sport,” said Schwab. “While each angel invests independently, angels collectively can use each others’ strengths and experience to ensure good investment decisions. SITI continues to help in this regard – creating the environment for learning and networking that Iowa’s angel investors need to grow their confidence and their portfolios.”
SITI will strengthen this learning environment June 6 and 7 with two daylong seminars – one for emerging companies and one for private investors. Joseph A. Grace, Jr., founding and current president of the Louisiana Technology Council, will present the seminars in Iowa City and Des Moines, respectively. This marks Grace’s second appearance in Iowa. He led a SITI-sponsored forum for Iowa angel investors last February.
“Straight Talk for Companies Seeking Investors” – a forum for analyzing Iowa tech business plans and learning how to negotiate financing – happens from 9:30AM to 4:30PM, June 6, in the Pappajohn Business Center at the University of Iowa in Iowa City. Participants can submit business plans for comment prior to the seminar; the best plans will be critiqued with the group. Registration is $200 for SITI members and $350 for non-members. Seating is limited to 50.
The “Angel Investor Seminar” runs 8:30AM to 4:30PM, June 7, at the Embassy Club, 401 Grand in Des Moines. Grace will lead a discussion of the process for selecting a good investment, including evaluating management teams and negotiating the deal. Registration is $250, and seating is limited to 50.
Software and Information Technology of Iowa hosts both events. The seminars are open to the public, but advance registration is required. Registration fees include lunch and a June 7 cocktail reception with emerging tech firms at the Embassy Club from 4:30 to 6:30PM.
Both seminars will feature time with Grace and SITI representatives to answer questions about the risks and rewards of investing in technology companies and the formation of a formal angel investment network. SITI already maintains an informal financing network for its members through the work of its capital formation committee.
“The services of SITI’s capital formation committee – mentoring, business plan review, and coaching – are offered to SITI members,” said Miriam Ubben, SITI’s executive director. “In turn, the emerging company must promise to assist others when they are able; this strategy continues to build a state-wide mentor network dedicated to strengthening Iowa’s IT industry.”
ABOUT SITI
SITI (Software and Information Technology of Iowa) is a non-profit, membership-only trade association dedicated to promoting the growth, prosperity, and recognition of a world-class software and information technology industry in Iowa by creating an awareness of the emerging information technology opportunities in Iowa for all qualified professionals; creating business opportunities by promoting Iowa's information technology industry around the world; helping Iowa schools create a leading-edge software curriculum and to build enthusiasm for careers in information technology; creating partnerships, sharing ideas, and facilitating information and software technology transfers; and assuring that Iowa's information technology companies have a strong voice in public policy matters and legislative affairs. Its 300 members include software development and information technology firms as well as companies and institutions that provide support and services to the information technology!
industry.
ABOUT JOSEPH GRACE
Joseph A. Grace, Jr. is the founding president of the New Orleans Technology Council and the current president of its successor, the Louisiana Technology Council. Joe is a 1980 graduate of the United States Naval Academy and a former Nuclear Submarine Officer. After leaving the Navy in 1988, Joe toured as a musician and recording artist before joining a Fortune 500 Electronics firm in California where he held various positions in sales and sales management. He returned to Louisiana in November of 1994 to assume the position as president and develop the New Orleans Technology Council. He is fully committed to transforming the Louisiana technology industry and serves on multiple boards and committees throughout the state.
For more information on the these seminars or to register, contact Miriam Ubben, Executive Director at mubben@sitiowa.com or Rebecca Canada, Program Manager, rcanada@sitiowa.com, phone 515-883-2981.