October 2010 eCon Update

Don’t miss a golden opportunity to hear two incredible speakers
This year’s Bend Venture conference is proud to highlight two professionals top in their respective fields.  On Friday, October 15th, Jonathan Heiliger, VP of Technical Operations will deliver the kickoff keynote address at the Tower Theatre in Bend.  He’ll offer insights from his experience overseeing the social media giant’s global infrastructure as well as a former venture capitalist investing in emerging technologies.  Heiliger will also explore how social media and technology are changing.  Later that afternoon, Diane Fraiman, Venture Partner with Voyager Capital, will offer a provocative view of what Oregon needs to do to make its entrepreneurial scene more competitive.  Read more about the investment conference or click here to register. 

Fifteen companies to vie for $175,000 prize at 7th annual Bend Venture Conference 
BVC’s selection committee has been hard at work for several weeks.  Scott Larson, EDCO’s Venture Catalyst Manager, says the diversity of applying companies – by industry as well as region – was impressive. While the overall mix was balanced, with applying companies falling evenly in the categories below, Larson notes that clean tech submissions surged, reflecting the Northwest’s strength in green innovation.   

Five finalists and eight Wild Card presenters were selected after a detailed and extensive due diligence process, which included the vetting of 25 business plans, financial statements, executive summaries, PowerPoint and video presentations. 

Presenting Companies (click here for more company information)

 Wild Card Companies (click here for more company information)

 From this highly competitive field of applicants throughout the Pacific Northwest, nearly half of the presenting companies at this year’s BVC are Central Oregon companies -- a testament to the support of Central Oregon’s entrepreneurial activity and support from EDCO’s advisors, volunteers and supporters. For more information about the Bend Venture Conference, visit www.bendvc.com or contact  Scott Larson at (541) 388-3236.

• 8:30-10:00 am
  Buzzworthy Business Plans
  This practical session is presented by Palo Alto Software CEO Sabrina Parsons and include tips for a business plan that will stand out for investors.
  
  
• 10:30-12:00 pm - 
  Power Sharing or Regime Change: What Happens to Management Authority after an Angel or Venture Capital Investment
  Schwabe, Williamson & Wyatt attorney Kevin Brannon will explain in plain English the typical provisions of investment docs that relate to board make-up, preferred stock/convertible debt protective provisions and give some real world examples of how it all shakes out, particularly after multiple rounds of investment.
  
  Beyond Friends and Family….Start up Lessons to Prep Your Company for Investor Financing, and Tips to Pass the Due Diligence Test
  Presented by Lorie Harris Hancock, attorney, and Caroline Cummings, Oregon Entrepreneurs Network, Co-founder/former CEO of OsoEco.com. This seminar is designed for emerging growth start-ups looking to raise outside funds. Caroline Cummings will share practical lessons she learned when presenting her start-up company to angel investors and venture capitalists. Lorie will discuss key due diligence issues an investor will consider when making an investment in your company. Being prepared to answer investor questions often means resolving many business and legal issues in advance to help your company pass the "due diligence test." Advance preparation will streamline your financing process and put cash in your company's coffers more quickly. You will leave with practical tips on how to think about your company like an investor and with resources that can help you better "speak the lingo of investors."
  
  
• 1:00-2:30 pm
  How Health Reform Has/Is/Could Impact Your Business
  Opportunity Knocks presents this panel overview to help you think of creative ways small and  start-up businesses can address health care options for employees.  Speakers are Todd Gerdes, CPA from Gerdes Dodge, LLC; Patrick O'Keefe from Cascade Insurance Center; and Dr. Rich MacDonell from MyMD.

Industry Month lineup

For complete details and instructions to register for Industry Month events, visit our Events Calendar on the EDCO website. 

• Fri, October 8 - COCC presents leadership event, Managing to Win!
  
• Thurs, October 14 - BVC Business Seminars at Touchmark
  
• Thurs, October 14 - BVC Networking Reception 
  
• Fri, October 15 - The Bend Venture Conference at the Tower Theater and The Oxford Hotel  
  
• Mon & Tues, October 18 & 19 - HiDEC presents Mike Hoseus and Toyota Problem Solving
  
• Thurs, October 21 - Energy Trust of Oregon presents, Energy Efficiency Incentive Seminar
  
• Tues, October 26 - US Dept of Commerce presents Export Strategies
  
• Thurs, October 28 – 7th Annual EDCO Awards at Seventh Mountain

Call for nominations for EDCO’s 7th Annual Awards of Excellence on October 28
Which dedicated companies and individuals deserve some recognition for their hard work?  Who has made the most positive impact on Central Oregon’s economy this year? We're looking for candidates from the business community in these categories:

The best of the best in economic development and entrepreneurship will be honored at our Annual Awards ceremony Thursday, October 28, 5:30-7:30 pm, at Bend's Seventh Mountain Resort. The event is generously underwritten by title sponsor Beecher Carlson and supporting sponsors Pacific Power and Seventh Mountain Resort. 

Send your award submission by Wednesday, October 20th to Dayna Dudkowski at EDCO.  We need a few paragraphs (no longer than one page) outlining why you believe the individual, company, or partnership deserves recognition as outstanding in their category. Of course, facts and figures are always appreciated!  Self nominations accepted. For inspiration, see last years winners. 

Good news all around

InEnTec LLC, a Bend-based company whose technology transforms waste into clean energy and useful products, is the winner  of the The Wall Street Journal 2010 Technology Innovation  Award in the Energy category.  Announced September 27th in The Wall Street Journal, this is the tenth year of the prestigious awards from the national publication. 

To make its final 49 selections, The Wall Street Journal reviewed nearly 600 companies from over 30 countries.  Journal staff handled the initial review and then involved judges from research institutions and venture capital firms. Tough criteria weeded out marginal improvements in favor of groundbreaking technology with wide impact. One of the judges, Scott D. Anthony, managing director of Innosight Ventures, said "A number of the applicants have the potential to literally change the world." 

In 2007, EDCO recruited InEnTec’s headquarter operations from Washington state to Bend, in order to consolidate multiple offices and attract top talent for future growth. (InEnTec’s R&D and engineering facility is in Richland, Washington.)  InEnTec’s Bend operation is about a dozen professionals.  This year, they launched two new test sites using their proprietary gasification systems.  One in Midland, MI, is a collaboration with Dow Corning, and the other in the Pacific Northwest with S4 Energy Solutions, is a joint venture with Houston-based Waste Management Inc. Last year, InEnTec was honored with the Platts Global Energy Awards in Sustainable Technology.

Workers’ compensation rates continue 20 year positive trend 
Oregon’s Department of Consumer and Business Services (DCBS) announced in September that workers’ compensation insurance premiums will not change from the current average of $1.48 per $100 in payroll. That marks 20 years that rates have not increased and the fourth year that rates have declined.  DCBS notes that while average costs remain flat, specific costs for some employers, based on their industry, claims history, or other factors, may go up. Read more here.     

Local business news

Innovative Bend initiative targets aircraft owners across the nation for business investment  
The Land in Bend program launched in September, targeting two national owner-pilot conferences.  The program is designed to promote awareness of Central Oregon as a desirable destination for recreation and investment purposes, to attract aviation businesses to the Bend Airport and other businesses to the region.  The program was developed by Professional Air and Aerofacilities with the support of EDCO and Visit Bend, and many other prominent local business partners.

Land in Bend was a key participant and exhibitor at the two conferences, Citation Jet Pilots and TBM, showing the impressive Visit Bend booth and offering a Land in Bend VIP Adventure vacation package at live auction.  “We developed a list of highly qualified prospect who are interested in visiting to learn more about what Bend has to offer,” said Gale Evans, Manager of Professional Air.  This week, customers of Epic Aircraft will be welcomed at the company’s Bend Airport facility with a special promotional package designed by Land in Bend.  Fly into Land in Bend’s website to check out the full program, including their 3 minute video promotion.   

EDCO’s Redmond office helps diversify manufacturing mix with new cosmetics firm
A cosmetic nail products company from Eugene has set up shop in Redmond.  McConnell Labs, distributing under the name Light Elegance, relocated six employees and plans to hire up to three more. The move also helps the company develop its  e-commerce strategy since 90% of its product will be shipped outside of Central Oregon.  Established in 1999, the company’s flagship product, an odorless UV enhanced gel nail system, is the fastest growing system in the nail technician industry today.  EDCO’s Redmond office helped McConnell Labs get established by connecting the company with local resources, and tax incentives. The owners say livability and low property taxes were strong factors in relocating to Central Oregon.

COCC explores curriculum for Technical Education Center
With future plans to open a new technology training center in Redmond, COCC is now working with EDCO and local industry groups to develop classes at the campus. Experts from the fields of Bioscience, Aviation, Rewable Energy, and Technology Information have been tackling that question for several months. Carol Moorehead, Dean of COCC’s  Redmond Campus, says research this fall will include visits to other technical education institutions to get ideas on possible curriculum. Construction on the 30,000 square foot facility is expected to start in 2012, which includes space to address future workforce demands of new and emerging technologies. 

Economic roundtable in Jefferson County to create action plan
For the first time ever, Jefferson County businesses and government leaders will share ideas on how to improve the area’s economy. The roundtable gives local companies the chance to talk about the state of business, and their outlook for future opportunities and employment – including issues that could impede expansion. Tim Duy, Director of the Oregon Economic Forum at the University of Oregon, is the featured speaker.  Local leaders hope to identify key areas of focus, and develop an action plan that will help solve potential roadblocks and build on existing strengths. The no-cost event will be held at the Inn at Cross Keys on Tuesday, November 9th, starting at 3:30 PM.

Food for thought

True economics, impacts of off-shoring questioned by Intel co-founder
Earlier this summer, Bloomberg News featured an insightful article by Any Grove, co-founder of Intel Corp., and now senior advisor to the company entitled “How to Make an American Job Before Its Too Late”. Grove makes the case that scaling up technology companies with production overseas while retaining R & D in the U.S. is a recipe for compromising future innovation and competitiveness.  The other obvious impact is a massive loss of middle income jobs. He sites the fact that American manufacturing employment of computers is roughly the same it was in the mid-1970s, about 166,000 while the same employment in Asia has grown to 1.5 million. Specifically, he provides an example in Chinese contract manufacturer Foxconn, which has grown to a $62 billion company  - larger than Intel, Dell, or Microsoft, and employing more than the combined employment of all these American technology powerhouse firms. 

Grove believes that a general undervaluing of manufacturing in the U.S. combined with short term financial gains by operating in low cost labor markets in Asia are undermining our ability to retain the higher paying “knowledge jobs.” By breaking the knowledge chain of how to more efficiently and cost effectively produce goods on a large scale, it is impacting our ability to innovate the next generation of technological advances. The entire article is illuminating and provides some suggestions on how American companies can help turn the tide.

Other events

High Desert Enterprise Consortium to hold two-day problem-solving event
Mike Hoseus, continuous improvement guru and teacher of the Toyota way, returns to Central Oregon for a two-day practical problem-solving event involving HiDEC member companies. Each day, the workshop will divide into two groups: an educational session with a HiDEC member with a real example, and a production-floor session at the host company that involves the entire group. Cost for HiDEC Members is $50/day and $100/day for non-members.  RSVP to Eric Strobel at 541-388-3236.

New EDCO Members -- thanks for your support!

In 2009 Jeff Coffey, CEO of Bend-based StreamIT, set out to help clients charge for streaming online content. After engaging three of the largest content delivery networks, Coffey discovered that a simple “white-label” platform to charge for access to online video doesn’t exist. His idea to monetize online video, Coffey says, is to give something away for free and generate revenues by allowing someone else to advertise over the professional content. StreamIT has partnered with Akamai, Ooyala, Cynergy Systems, and seven other vendors to design such a platform. It allows anyone to upload video content, PowerPoint, PDF, or other digital media and charge advertising on that content.

Energy Trust of Oregon- Bronze
If you own a business or a home and are looking to reduce energy costs and find efficiencies, then you might want to check out Energy Trust of Oregon. The independent, nonprofit organization works with customers at all levels to reduce energy consumption, eliminate waste, and find energy alternatives.  According to Energy Trust, customers of Portland General Electric, Pacific Power, NW Natural, and Cascade Natural Gas have saved nearly $600 million in energy costs since the program started. Commercial, industrial, agriculture, and residential customers can utilize the program.  Nexant, Inc., is the Program Delivery Contractor in Central Oregon for Energy Trust’s industrial and agricultural programs.  Contact Kevin Wooster at (541) 954-3283.

Dianne Crampton - Individual
TIGERS Success Series, Inc. founder Dianne Crampton is considered one of North America's leading authorities on building team culture in large organizations. TIGERS helps leaders and executives eliminate root causes of conflict, improve company-wide communications, and create a greater focus on what a company does best.  The company serves merging organizations such as Costco and NW MedStar, manufacturers such as Boeing and Northup Grumman, and entrepreneurs who seek recognition as a best company. Crampton is a 2010 contributor to the Pfeiffer Consulting Annuals, contributing author to Working Together, and author of TIGERS Among Us - Winning Business Team Cultures and Why They Thrive.  http://www.TeamBuildingSuccessNow.com