JULY 5th, 2009

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2 D A I L Y H E R A L D Sunday, July 5, 2009

File photo

View of Utah Valley and Mount Timpanogos.

Michele RobertsDAILY HERALD

In 1989 Utah County barely had a technical presence, but now, 20 years later, this valley has more than 5,000 technology-related businesses.

In the late 1980s, Utah Valley resi-dents were lining up to work factory jobs with companies like Geneva Steel, while today coveted positions are with technology giants like Ancestry.com, Doba, and Omniture. What has happened in the past two decades to change the economic environment of this area so drastically? In short, WordPerfect.

In 1979, a young BYU graduate stu-dent named Bruce Bastian and a BYU computer science professor named Alan Ashton came together to design a

word processing system for the city of Orem’s Data General Corp. minicom-puter system. That system turned out to be the first template of the Word-Perfect software.

These two men were insightful enough to maintain ownership of the software, gracious enough to head-quarter their new company right here in Orem, and set out to market it on their own in 1980.

By the late ’80s WordPerfect 5.1 was by far the world’s dominant word processing program, and the influence of this company was already being felt in Utah Valley with the arrival of other technology giants-to-be, such as Novell.

Shauna Leavitt Theobald, 2008 chair-woman of UVEF and program director of the Open Source Technology Center

at Novell, a business incubator for IT companies, said, “Technology has a multiplication effect. One company starts up, great talented minds work for that company and learn why it’s successful, and soon they are starting their own ventures.”

Once some of the existing technol-ogy talent at BYU and the University of Utah saw what Bastian and Ashton were able to do, they were motivated to replicate their success with new ideas of their own. Combining inven-tiveness with a strong work ethic, optimism about life’s potential, and a community willing to mentor, creates the dynamic incubator for entrepre-neurialism that is Utah Valley.

“You would be hard pressed to find an entrepreneur that’s pessimistic; they have all the faith in the world that

this will work out,” Theobald said.That faith has paid off for Utah Val-

ley and its residents. In Kauffman’s 2008 State New Economy Index Utah was voted the Most Dynamic Econo-my and was voted No. 1 for Technolo-gy Concentration and Dynamism from the Milken Institute 2008 study.

Many other states are suffering severe layoffs and unemployment numbers surpassing 17 percent such as Racine, Wis.

Utah Valley is an area that, although feeling some of the pains of a reces-sion, continues to draw new businesses developments — such as the new $500 million Micron and Intel facility in Lehi — and support countless new start-up companies that believe their new idea will be the next WordPerfect.

It’s hard to imagine that two young technology innovators could have such an immense impact on this valley.

But, the reality is that one good idea breeds countless others and enough good ideas all put into motion can change the entire direction of a state.

Thirty years ago a great idea was put into motion and today hundreds of thousands of jobs can trace their existence back to a young graduate student and BYU professor who had the gumption to take a risk.

technology

in Utah Valley

3Sunday, July 5, 2009 D A I L Y H E R A L D

Jessica EyreDAILY HERALD

At the end of the Utah Valley En-trepreneurial Forum meeting in June, groups of twos and threes formed around the room: a mix of entrepre-neurs both new and seasoned, UVEF board members and other profession-als from the community.

Shauna Leavitt Theobald, the pro-gram director for Open Source Tech-nology Center at Novell and UVEF board member, comments that this is what UVEF is all about.

“Networking,” she said, as she scanned the room with satisfaction. “This is why I love what I do. I get to be with people like this.”

UVEF was founded in 1989 by a group of entrepreneurs and investors. After being active in the Mountain West Venture Group in Salt Lake City, they wondered why there couldn’t be a similar organization closer to home.

“We thought there was enough trac-tion to do something like that in Utah Valley,” said Kyle Love, one of the founders of UVEF and current board member.

After an initial event and some plan-ning over the summer, UVEF was launched in September 1989.

“It’s been rockin’ and rollin’ ever since,” Love said. This year marks the 20th anniversary of UVEF, which now has about 85 members.

UVEF is designed to bring entrepre-neurs together to rub shoulders with other entrepreneurs, investors and service providers such as attorneys and bankers.

Love said that early on in his career, he and a business partner were strug-gling with a particular issue, and it was holding their company back. In a conversation with a seasoned entrepre-neur, they brought up this problem and the veteran related a similar problem he had — and the solution that solved it.

That solution was applied, and Love was able to move forward with the business.

Entrepreneurs “get the opportunity to meet entrepreneurs who have been there,” Love said, and learn from their mistakes and take advantage of their wisdom.

So what’s in it for a seasoned entre-preneur?

“Every time I go I learn something new,” Love said, even after 28 years of being involved in starting, investing and consulting with about 20 compa-nies. Plus, he said, the markets change, technology is always advancing, and he learns a lot from the young people coming up.

“It keeps me fresh, on top of my

game,” Love said.And as Theobald says, UVEF mem-

bers are great company to keep.“Entrepreneurs are some of the

most optimistic groups of people,” Theobald said in a phone interview. “There’s never a problem, it’s always an opportunity.”

The term “Never say die,” is serious to an entrepreneur.

UVEF benefits

Roger Andrus, 2009 chairman of UVEF, said entrepreneurs need three things: 1) access to capital, 2) access to markets and 3) access to mentors.

UVEF aims at making all three more accessible, Andrus said, by providing the tools entrepreneurs need to ad-dress those three things.

As chairman, Andrus oversees the organization from a strategic stand-point. He puts in five hours per week on average. On top of a full-time job and all the other responsibilities of life, it’s quite a commitment. But Andrus has a simple answer to why he does it: “Being associated with like-minded people.”

UVEF meets on the second Thurs-day of each month. They bring in speakers — entrepreneurs that will “teach us something that they’ve learned along the way,” Love said — and panels of experts such as attor-neys, investors or bankers.

At the June meeting, Brock Blake, the CEO of Funding Universe, was the key note speaker. Blake is a winner of a stack of awards and honors, and board member of several business orga-nizations, including UVEF. He reported on a survey conducted in conjunction

with Brigham Young University stu-dents on the state of angel investing in Utah. An angel investor is an individual who invests his or her own money into a company, as opposed to a venture capitalist, who raises money from mul-tiple people into one pool, and manages and invests that money on behalf of the group of investors.

The survey is the first of its kind in the state, and Blake pointed out infor-mation that he dubbed as significant for entrepreneurs.

For example, the survey reported that 72 percent of the companies that received investor money were valued between $750,000 and $3 million.

“Entrepreneurs are going to want to play in that range for the best chance of raising money,” Blake said.

Receiving this kind of information from speakers is one of the benefits for those who attend UVEF meetings.

“Each time, they can take a golden nugget away that can help their busi-ness,” Love said.

And this was just one nugget from one meeting. Love said the goal is to keep people coming back. He said many will see a seminar on financing or some topic that piques their interest and only attend one or two meetings.

Theobald had the same thought. “Every once in a while you’ve got

to pull your head out of the sand and look out at what’s on the horizon.” Theobald said. “There’s tremendous value in meeting with a group of peers as entrepreneurs to share ideas.”

UVEF awards

UVEF not only works to promote entrepreneurship in Utah Valley, but

also to recognize it when it happens. Each year, the Top 25 Under 5

award honors companies in Utah Val-ley less than five years old that are making a significant impact.

This year marks the 20th anniver-sary of UVEF and the 10th year of the awards. This year’s awards ceremony is slated for Thursday. Past winners include companies such as Employer Solutions Group, XanGo and Altiris.

In December, UVEF presents the Entrepreneur of the Year and the Best-Kept Secret, among other awards. In the fall is the Fall Social and Hall of Fame event, including a guest speaker.

“It helps us resharpen the saw, so to speak” Love said, on being a better entrepreneur, a better manager, even how to be a better spouse during the long hours of starting a business.

“We work hard to understand our audience and make sure we’re provid-ing a good value to our members,” Love said.

From professionals in white shirts and ties to 20-somethings in jeans and a sweatshirt, UVEF attendees at June’s meeting run the gamut of people in the business world.

A line forms with people eager to get a minute of keynote speaker Brock Blake’s time at the end of the meeting. Hands shake and business cards are exchanged in multiple circles around the room.

“It’s all about the connections,” Theobald said. These connections will hopefully lead a budding entrepreneur to investors, or a business owner to their next star employee, and perhaps create the next cog in the wheel to get the economy turning again.

UVEF?what is

4 D A I L Y H E R A L D Sunday, July 5, 2009

Jessica EyreDAILY HERALD

At the end of June, Novell was setting up office space for the scholarship winners of the Provo Tech Xelerator.

The program is a partnership between Provo Business Development Corporation, the Technology Center at Novell and Broadweave Net-works. The program offers, among other things, a three-month lease on office space on the Novell campus, free broadband access and access to hours and hours of free mentoring from a wide range of professionals.

Brigham Young University students and business partners Kirk

MARK JOHNSTON/Daily Herald

Kyle Prier and Kirk Ouimet stand outside of Novell in Provo. The two are recipients of one of the Provo Tech Xelerator scholarships, which includes a three-month lease on an office at Novell.

in actionentrepreneurs

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5Sunday, July 5, 2009 D A I L Y H E R A L D

Ouimet and Kyle Prier are recipients of one of the Novell scholarships. Ouimet and Prier are working on Page Mass, a company set to change the way Web pages are ranked.

At his first Utah Valley Entrepre-neurial Forum meeting in June, Ouimet talked with the Daily Herald about his experience so far with the program.

He said the advice he is receiving is incredible. Recently, he sat down with one of the participating mentors and gleaned information on hiring prac-tices, finances and other related topics to running his own business.

Ouimet, who is majoring in informa-tion systems, and Prier, who is major-ing in German, are the creative minds behind Page Mass, an online analytics company born from Ouimet trying to do research comparing other Web sites with his own. At the time of publi-cation, Page Mass was set to launch on June 28, Ouimet’s 25th birthday.

Page Mass basically answers this question: “What does the Internet think about your Web site?”

They liken it to the Nielsen TV rat-ings for the Internet, but better.

While Nielsen has a sample and extrapolates what other people must be watching on television, Page Mass gathers information from everyone, ev-erywhere. It takes data from 125 data sources online — social networking, the blogosphere, news organizations, etc. — and organizes it in a way to de-termine what people are saying about a particular Web site, and in turn, what they are saying about that company.

Ouimet calls it passively monitoring Internet users.

“We’re not interfering with what they do, but more like watching what they do,” Ouimet said.

The software can compare a site to its competition, or look at various seg-ments of the company and how that relates online.

“It’s really good to see that ripple ef-fect of what’s going on,” Prier said.

Currently, the industry standard is page views. What Page Mass aims to do is determine what that means, and for Ouimet and Prier, whether that marker is even relevant.

“This is good and also scary,” Ouimet said. There may be a percep-tion of a Web site’s power, but when it comes down to it, page views may not be relevant at all.

“It’s going to take away the smoke and mirrors” and really tell the whole story of a site’s performance, he said.

Page Mass will also be able to make an educated guess at determining de-mographics of a Web site’s users, such as gender, age range and income, im-portant for online target marketing.

Their main priority right now is to use their Xelerator scholarship to get connected with highly successful entre-preneurs for advice on hiring, manage-ment, growth and other topics related to starting and running a business.

The company’s name, Page Mass, came from Ouimet’s experience as a teacher’s aid teaching physical science classes, specifically teaching the con-cept of gravity.

“The more mass an object has, the more powerful it is to attract others to it,” he said. Applying that concept on-line, the more mass a Web site is, the more power it has to attract users to it.

“We’re excited to meet with people and see where we can take it,” Prier said. “We’re branding ourselves as the model.”

collaborateJessica Eyre

DAILY HERALD

Everyone has heard about the importance of net-working in business. And there are plenty of ways to do that.

Page Mass’ Kirk Ouimet and Kyle Prier earned one of seven Provo Tech Xelerator scholarships, which include a three-month lease on an office, free broadband and hours of mentoring.

They found out about the scholarships through networking at a Web Startup Group meeting at Brigham Young University. The pair met Shauna Leavitt Theobald, the program director of Novell’s Open Source Technology Center, who put them in front of a selection committee. Ouimet and Prier still attend monthly meetings of the Web Startup Group.

The group held its first meeting in October 2008, an idea born out of necessity of three student entre-preneurs who were in need of collaboration.

Matt Smith, who is working on his Ph.D. in computer science at BYU, was approached by two student entrepreneurs, Devlin Daley and Brian Whit-mer, searching for some help with their software company, Instructure Inc.

Already involved with his own projects, Smith, along with Daley and Whitmer, created the Web Startup Group for people interested in starting com-panies online.

The first few meetings had as many as 50 people in attendance.

“There was just sort of an excitement, especially with the down economy,” Smith said. “Instead of try-ing to find a job, people wanted to make their own job.”

The group has a Facebook page with more than 200 members and more than 3,000 followers on the social networking site Twitter.

They meet the second Thursday of each month on BYU campus. Meetings typically start out with a business tech talk, fast pitches — formal business

plan presentations in five minutes — and an open session where people have one minute for questions or comments. Then, at the end, people can mingle and expand on subjects brought up throughout the meeting. In all, it’s about an hour each time.

“We have an emphasis on getting information out quickly,” Smith said.

The group has professionals in attendance as well, and Smith said it’s fun to learn from them. He also said that the membership is open to everyone, not simply computer scientists.

“It’s more of a bridging group,” Smith said. “We do our thing, and if we get stuck, we have other people to help us.”

and listenWeb Startup Group brings entrepreneurs together

“The more mass an object has, the more powerful it is to attract others to it,” so the more mass a Web site has, the more powerful it is to attract users.

KIRK OUIMET, PAGE MASS

Continued from previous page

business?■ Idea development

■ Intellectual PropertySmall Business Development CenterWHERE: 1410 W. 1200 South, MS 239, Orem (west of Geneva Road)

TELEPHONE: 801-863-8230

FAX: 801-863-7071

E-MAIL: sbdc@uvu.edu

■ Product development ■ Finding funding

Rocketship WHERE: 110 S. 300 West, Provo

TELEPHONE: 801-373-1922

FAX: 801-373-1097

E-MAIL: info@rocketshipdesign.com

Michael Horito, owner of Rocketship, a product de-velopment firm in Provo, said that a good portion of his firm’s clients are in Utah.

“A product development company needs to be near where industry is growing and developing,” Horito said. And that means there is growing and developing industry in Utah.

Rocketship helps companies marry functionality with the user experience. Put simply, if something is pretty, but it doesn’t work, people won’t like it; if a product does what it should, but it’s too complicated and uncomfortable to use, people won’t like it.

“When you do the research on the user experience, you significantly increase your chances of making it successful,” Horito said.

One of the products they worked on was the Cricut made by Provo Craft.

The first version was an industrial cutter with exten-sive controls, which Horito said baffled consumers.

Rocketship simplified the controls into three or four settings and looked at some market research. What Rocketship and Provo Craft found was that the typical scrapbooker doesn’t want to use a computer to create a page. In response to that, Rocketship removed this cutter from the computer — similar products have to be plugged into a computer to work — and the Cricut is now the top-selling cutter on the market despite being the third or fourth type of product to enter the market.

Time spent in development varies greatly. Horito said they spend from three months to six months to a year on different products. What a client needs to look at is whether more time spent on development will lead to cheaper manufacturing costs, greater sales, etc., or whether the product should be put on the market now.

For example, Rocketship had a resin prototype made of a cover for a product they were working on. The single prototype cost $700. Before the product went into production, they changed the type of brackets that held it on. If they had made that change at the factory, it would have cost anywhere from $10,000 to $20,000. That $700 initial investment in development really paid off for that client.

Other factors on development depend on deadlines for production and costs. Whatever you do, you don’t want your product to fail or break.

“It’s as short as you need it and as long as you want it,” Horito said.

Product development doesn’t have a definitive spot in creating a business. Horito said product develop-ment, intellectual property and funding all need to be attacked at the same time.

“To get funding you have to have an idea to present. If you don’t have development, you don’t have any-thing to present,” Horito said. It’s rare to get funding for something that doesn’t have a visual attached to it, he said.

When an entrepreneur is developing an idea and deciding where to go for funding, Brock Blake said the most important thing is to sit down and figure out the financial side of it.

Off the top of his head, he gives the example of a restaurant that serves cold cereal. People can get emotionally attached to the idea, they talk to their family and friends, asking “Would you eat at a restaurant that serves cold cereal?” and they get excited about it, and the finances are never really thought out.

Blake said every entrepreneur should put down in a spread-sheet what it’s going to cost in the first year and what kind of money can be made so the entrepreneur is going into it with eyes wide open.

“The key is just to go through the exercise,” Blake said. Funding Universe helps its clients determine the best source of

funding, such as a bank, angel investor or venture capitalist. If it’s a bank, Funding Universe will take them through the whole pro-cess of credit checks and other information gathering, and evalu-ate their chances of getting a loan.

With investors, Funding Universe holds pitching events that connect entrepreneurs with investors. But Blake emphasized the importance of being prepared before going before an investor.

Investors aren’t just putting money into an idea, but into the investor. The presentation is a huge part of winning those dol-lars.

“Whether you’re going through an investor or a bank, you’re going to hurt your chances if you’re not pre-pared,” Blake said.

“Just be prepared,” he said.

Funding Universe WHERE: 1276 S. 820 East, Suite 140, American Fork

TELEPHONE: 801-805-4847

WEB SITE: www.fundinguniverse.com

Types of funding∫ Self-funding

∫ Personal credit cards

∫ Small Business Administra-tion loan – up to $25,000

∫ Friends and family investment

∫ Angel investors – $50,000-$1 million

∫ Venture capitalists – $1 million plus

∫ Unsecured credit from banks – $25,000-$100,000

∫ Working capital loans

∫ Credit card receivable loans

If you have an idea, but you’re not sure what to do with it, try the Small Business Development Center.

Funded by the Small Business Administration, the state of Utah and the host institution Utah Valley University, the SBDC offers free — that’s right, free — services to all its cli-ents.

Ken Fakler, managing director of the center, said their mis-sion is to help entrepreneurs start in business and help small businesses grow to the next level.

Three consultants, including Fakler, are available with of-fice hours later into the evening.

“If a person is working, and they’ve got an idea they’d like to develop, they can come in at 7 in the evening,” Fakler said.

Here is what SBDC has to offer:∫ Access to two online research libraries∫ Consultations on product development and connections to

CPAs, patent attorneys, bookkeepers and other professionals∫ Help working with the state for basic LLCs, etc. ∫ Extensive help writing a business plan. Fakler said their guidance for writing a business plan is

something in which they excel. “We can get them ready to go so their business plan will

fly,” Fakler said. There are 11 units of the SBDC in the state of Utah. Fakler

said they like to have long-term relationships with people, hearing success stories and helping business owners with the inevitable bumps down the road.

“We create a lot of economic development here in central Utah,” Fakler said.

Once they start moving forward with an idea, most entrepreneurs should address intellectual property issues. Randall Bateman, an IP attorney in Salt Lake City, said there are three main ar-eas to address.

First is the name. The name of your company and product should be looked at for trademark ramifications. A trademark protects the identifier of the source. Anything with a particular trademark comes from the same source. The last thing you want to have happen is infringe on a trademarked name and be sued.

Second is copyright; take a look at any possible infringements.

Third is addressing the need for a pat-

ent. Is it new technology? Is it something that should be protected? A patent is for an invention, and it gives the holder ex-clusive access in exchange for disclosing the invention to the public.

Sometimes a patent isn’t necessary; keeping a trade secret can be a better option.

“A good attorney will go through all the IP issues,” Bateman said.

When visiting with an at-torney, Bateman suggests that priorities be made. The entrepreneur should figure out what he wants looked at, and what he wants patented, etc. But, Bateman said, not every-thing needs to be patented.

“You can bankrupt your company with legal fees if you just let your attor-ney go hog wild,” he said.

To prepare and file a patent costs between $5,000 and $7,500, although highly complicated patents can be in the $10,000 range. When the patent is complete, which process takes about two years, it ends up at about $10,000-$15,000.

Bateman IP Law GroupWHERE: 8 E. Broadway, Suite 550, Salt Lake City

TELEPHONE: 801-533-0320

BLOGS: www.ipthoughts.com, www.thecompetitiveinsight.com

What is in a business plan?∫ An executive summary

∫ Explanation of the product or service

∫ Marketing — pricing, competition, target market, promotion, etc.

∫ Operations — store front or office, number of em-ployees, hours, etc.

∫ Owners — who they are, their qualifications

∫ Finances — start-up costs, income, break-even analysis, etc.

∫ Appendix — other data that don’t make it into body of the plan

are you ready to start a

8 D A I L Y H E R A L D Sunday, July 5, 2009

Jessica EyreDAILY HERALD

In the academic community, there is ongoing debate about how to best serve the needs of entre-preneurs. These business students are often already working on their own business.

Jack Brittain, the dean of the David S. Eccles School of Business at the University of Utah, said ac-ademia often wonders how it can provide something for entrepreneurs.

While an argument can be made that entrepre-neurs are self-made, Brittain said that business school can help them be realistic and prepare them for various ups and downs.

“Entrepreneurs are typically optimistic people, and sometimes that can get the best of them,” Brittain said.

Both of Utah’s largest institutions of higher learning — the University of Utah and Brigham Young Univer-sity — say the best way to teach entrepreneurs is to offer much more than classroom instruction.

Consultants, mentors and competitions are part of the educational experience.

“It’s an accelerated way of learning, so you don’t have to go through the school of hard knocks,” Brit-tain said.

At BYU’s Center of Entrepreneurship, managing director Bill Price said the combination of classroom and competitions helps the program.

“They get the theory and they get the practical,” Price said.

Brittain said that while starting and running a busi-ness, everybody is going to have setbacks, but those setbacks don’t have to destroy the company.

The education helps “people anticipate and avoid the land mines,” he said. “They can’t always avoid them, but they can be prepared for them.”

And that’s the real value of business education.

Competitive edge

A huge part of both institutions’ programs is com-petitions. Brittain said that while not everyone will win, the real value of competitions is the feedback they get from the judges. They will tell entrepreneurs what they think about their idea, where their weak-nesses are, what they need to work on and why.

The University of Utah, with Zions Bank, runs a competition program called Opportunity Quest. The competition is held on eight publicly funded campus-es around the state, then feeding into the Utah Entre-preneur Competition, a state-level competition. That contest sees between 150 and 200 business plans.

BYU awards Business Plan of the Year and the

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Continued next pageBrigham Young University campus

9Sunday, July 5, 2009 D A I L Y H E R A L D

Student Entrepreneur of the Year. The most recent Student Entrepreneur of the Year is Steve Rosenbeck, a 25-year-old BYU graduate [December 2008] who started Garb Gameday Wear, which operates as Garb Ath-letics and Garb Apparel, in October 2005. Garb Athletics makes custom jerseys for groups such as schools and Little League teams; Garb Apparel is a clothing manufacturer for small- to medium-sized clothing companies.

As the Student Entrepreneur of the Year, Rosenbeck won $5,000, which he used to pay off debt. He also gained valuable advice from mentors through the university program, who gave him advice on things like marketing, efficiency, potential clients and fabric vendors. He even gained a client out of the experience: Garb Apparel does all the pants for Missionary Mall.

From his experience as an LDS mis-sionary in the Philippines, Rosenbeck began using factories he knew of to fill his own orders, and as a middle man to fill orders of other clothing companies.

One of those clients, Ken Money of Spanish Fork, ended up as an investor, which led to the purchase of 2 acres of land, a factory built in 2007 and a sec-ond factory in 2008.

While living in the Philippines, Rosen-beck said he always wanted to do some-thing to help the people there.

“There is so much poverty, and they could never work their way out of it because they didn’t have any opportu-nities,” he said, and within a month of his return, he started up the company.

The company’s lowest-paid workers make two times the national average in that country, and skilled workers make four or five times the national average. The company offers a retire-ment fund, health care and scholar-ships for the approximately 50 work-ers’ children. Consequently, Rosenbeck said they get more than 100 applicants per week.

Rosenbeck saw another need when

developing his business. Small- to medium-sized clothing com-

panies were concerned about sending work overseas because of unknown work conditions of large factories. Through Web cams and other technol-ogy, Rosenbeck’s clients can see the factory in action and know that people are working in a healthy, clean environ-ment.

“We can alleviate concerns of condi-tions,” Rosenbeck said.

Now that Rosenbeck is done with school, he’s focusing all his attention to growing the business. Up until this point, he’s just kept up with the clients he had — no marketing, no sales, just word of mouth.

He’s hired three salesmen with plans to hire more, create a catalog and move into markets outside of Utah.

“Entrepreneurs historically have been the engine that drives the econo-my,” Price said. And that drive is not only creating jobs but improving our standard of living. He gave the exam-ple of WordPerfect: “That technology is used by literally everybody who has a computer.”

Working through college

Entrepreneurs are encouraged to work on their business while in school, applying the curriculum they learn. A motto of Brittain and the rest of the university is that when students gradu-ate they become the CEO of their own company.

Another strong element at nearly every stage of starting a business is networking.

There are many opportunities to meet people and give quick pitches of ideas to investors of all kinds.

With angel investors — individuals who invest their own money — “it’s an act of faith, it’s a relationship,” Brit-tain said. Communicating and learning negotiation skills is key to building rela-tionships with investors.

“We get them really sharp,” Brittain said.

Welcome to the UVU Business Resource Center: newly designated by the state as the hub of economic development for the region. We bring all economic development organizations under one roof, so we’re easy to find. And the best part is, most of our ser-vices don’t cost you a dime! Here are some examples of what we can do for you and your business:

Find out how you can take advantage of this essential resource at

From previous page

One of Garb Gameday Wear’s factories in the Philippines.

10 D A I L Y H E R A L D Sunday, July 5, 2009

Michele RobertsDAILY HERALD

Many people believe that big ideas, the kind that turn into multimillion dollar empires, only happen to the lucky minority. But here in Utah Val-ley, these ideas are prevalent. There is a sense of “can do” among residents. Combine that with up-and-coming intellectuals, and Utah Valley has a recipe for economic success.

“Our goal for the future is to make Utah Valley such a great technology hub that you can change jobs but never need to change parking lots,” said Shauna Leavitt Theobald, the 2008 chairwoman of Utah Valley Entrepre-neurial Forum and program director of the Open Source Technology Center at Novell, an incubator for IT companies.

Enter Silicon Slopes, an organiza-tion set to promote Utah’s growing technology community. The brainchild of Omniture founder and CEO Josh James, Silicon Slopes’ sole purpose is to ensure that the Wasatch Front becomes the premier global destina-tion for anyone who wants to make a mark for themselves in the world of technology. James is one of many who believe in the future and potential of this valley and is taking giant steps to do what he can to bring attention to the greatest natural resource Utah has:

raw untapped entrepreneurial spirit coupled with talented “techies.”

Silicon Slopes is not the only help the entrepreneurial community has had. Gov. Jon Huntsman Jr. has stepped up to the plate with numerous programs and changes to existing programs that are meant to help develop this valuable avenue of economic growth.

One of the best is USTAR, Utah Science Technology and Research initiative. According to spokeswoman Amanda Moore, “USTAR is a long-term, state-funded investment to bring groundbreaking research from univer-sities in contact with investors and the business community” to make the tran-sition from concept to company faster and better. Utah is actively recruiting world-class researchers to state uni-versities in the hopes of continuing its illustrious history of companies like WordPerfect, Novell and Omniture

that all started with students and pro-fessors creating new concepts during their formative years. According to the AUTM 2008 Survey, the University of Utah was recently ranked second best in the nation, only behind MIT, for starting technology companies based on its own research.

Why would Huntsman and others spend so much of their own time on building the technology sector of our economy? According to Brad Burtoch, president and CEO of the venture ac-celerator Wayne Brown Institute, the answer is simple: money.

“It all comes down to revenue,” Bur-toch said. “One technology sector job creates three to four additional jobs. To put that in perspective, one tourism job creates 0.4 new jobs.”

High-end technology jobs create a thriving economy because they pay well and bring talented minds from all

over the world here to spend money, buy homes and create communities.

The future of Utah Valley is Sili-con Slopes. If initiatives like USTAR continue to work as well as they are working now — Utah is currently ranked No. 1 Most Dynamic Economy (Kauffman State New Economy In-dex), Best Managed State in the Nation (Pew Center), No. 1 in Technology Concentration and Dynamism (Milken Institute), No. 1 Economic Outlook (ALEC), among others — in the next few years Utah is poised to become the premier technology and entrepreneur-ial hub in the world.

“Thanks to the entrepreneurs, inno-vators and hard workers of our state, our economy is just beginning to fill the measure of its destiny — as well a state should whose motto is industry,” said Huntsman in an Economic Sum-mit Speech in March 2008.

welcome to

technology timeline

Silicon Slopes

■ 1917 Utah native and BYU graduate Harvey Fletcher joins Bell Laboratories where he oversees the development of the first electronic hearing aid. He would later become known as “the father of ste-reophonic sound.”

■ 1927 Utah native and former BYU student Philo Farnsworth invents the first electronic television set.

■ 1961 The creator of computer graphics and a Uni-versity of Utah professor, Ivan Sutherland, invents the sketchpad. He is also credited as the founder of the GUI interface.

■ 1969 The University of Utah hosts one of the first four network nodes of the ARPANET.

■ 1971 University of Utah graduate and Utah native Nolan Bushnell creates the first arcade game called Computer Space. In 1972, Bushnell develops the popular game Pong and starts Atari Computers the same year.

■ 1973 The first artificial arm is developed by Uni-versity of Utah professor Stephen Jacobsen.

■ 1976 Thomas Stockham, the father of digital audio, makes the first digital recording in 1976. Stockham was a professor at the University of Utah.

■ 1977 Alan Ashton begins work on a word process-ing program that goes on to become WordPerfect. By the end of the year Ashton, Don Owens and Bruce Bastian start Satellite Systems, Inc.

■ 1979 Novell is founded in Utah, establishing itself as the leading NOS provider throughout the 1980s.

■ 1980 Iomega is founded in Utah, producing exter-nal storage hardware such as the Zip Drive.

■ 1982 Utah native and U of U graduate John War-nock co-founds Adobe Systems. Two years later, he becomes a professor at the University of Utah, helping establish the school’s computer graphics program through his participation as a professor and through additional donations.

■ 1982 Jim Clark, a University of Utah graduate founds Silicon Graphics and goes on to found Netscape.

■ 1982 The first successful artificial human heart transplant is performed by surgeons at the Univer-sity of Utah.

■ 1985 Pixar is co-founded by University of Utah Graduate Ed Catmull.

■ 1989 Utah Valley Entrepreneurial Forum is cre-ated to accelerate growth of new business in Utah.

■ 1999 Internet retailer Overstock.com is launched.

■ 2006 IM Flash Technologies, a collaboration be-tween industry giants Micron Technologies and Intel, is formed in Utah.

■ 2006 USTAR is founded to recruit world-class re-searchers and to build state-of-the-art interdisciplin-ary research and development facilities.

■ 2006 Omniture goes public and becomes the most successful technology IPO of 2006.

■ 2007 Symantec acquires Utah-based Altiris for $830 million.

Some highlights of Utah inventions and inventors

11Sunday, July 5, 2009 D A I L Y H E R A L D

award winners■ 2001Employer Solutions GroupFOUNDED: April 1, 1997

FOUNDER: Craig Allred

EMPLOYEES IN 2001: 40

EMPLOYEES IN 2009: Utah, 53; Arizona, 5; Colorado, 5

■ 2004MaxtecFOUNDED: 1999

FOUNDER: Bruce and Mary Brierley

EMPLOYEES IN 2004: 22

EMPLOYEES IN 2009: 41

■ 2008Agel EnterprisesFOUNDED: 2005

FOUNDER: Glen Jensen

■ 2007Interbank fxInformation unavailable

■ 2005XanGoFOUNDED: September 2002

FOUNDER: Aaron Garrity, Bryan Davis, Gary Hollister, Gordon Morton, Joe Morton and Kent Wood

EMPLOYEES IN 2005: ~400

EMPLOYEES IN 2009: ~600 in six offices

■ 2006XanGoFOUNDED: September 2002

FOUNDER: Aaron Garrity, Bryan Davis, Gary Hollister, Gordon Morton, Joe Morton and Kent Wood

EMPLOYEES IN 2005: ~550

EMPLOYEES IN 2009: ~600 in six offices■ 2003

CaseDataAcquired by Océ Business Services Inc. in 2006

■ 2002AltirisFOUNDED: 1998

FOUNDER: Jan Newman and Kevin Turpin

Acquired by Symantec Corp. in 2007

COMPETING COMPANIES ARE JUDGED BASED ON PROFIT, GROWTH, EQUITY FUNDING, JOB CREATION AND JOB QUALITY. THE 2009 AWARDS CEREMONY IS THURSDAY, JULY 9. VISIT WWW.UVEF.NET FOR MORE INFORMATION.

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Contact us for information about: -Small business incubator -Revolving Loan Fund -Office space location -Professional mentoring

801-226-1521www.cedo.org

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