58% 2% $129,084,495 $19.2M
975 $12.6M
26%
36%
20%
22%
$95,000
39%
493
31%
$5,834,254 341
32%
7 $1,600,000
17%
29%
$11,830,346 111
$111,000,00
60 16
44% $68,464 $5.5M30% 226 $42,458 5.1M 35 IN N OVAT I O N TO E N T E R PRI S E
$53,4081700
$64,2
3,222,880 8 34%
$590,762 -0.1%
1.2%
1.3%
1.9%
1.2%
1.1%
-0.5
IN N OVAT I O N TO E N T E R PRI S E
WHAT WE DO
NATIONAL RECOGNITION
OUR PARTNERS
Evaluate the potential of new concepts through a rigorous venture assessment process to determine product-market fit
Southern Growth Policies Board 2006 Innovation Award recognized for fresh approaches to solving problems and creating opportunity in the South’s rural regions
Oklahoma Center for the Advancement of Science and Technology (OCAST)
Kauffman Foundation 2008 Entrepreneurship Summit recognized as a principal source of high value-added human & intellectual capital
Greater Oklahoma City Chamber
Assist with development of business plans, evlauation of marketing plans and assessment of capital needs Provide guidance in building a management team, choosing an optimal busiess structure and creating financial forecasting Assist with developing an effective investor presentation Assist in obtaining non-dilutive funding through federal and state funding sources or private investment Work with universities to encourage commercialization of universtiy-based innovation Provide assistance in raising capital Make equity and near equity investments to help start new companies and grow exsisting companies
International Economic Development Council 2009 Best Practices Award for comprehensive commercialization services State Science & Technology Institute 2010 Excellence in Technology-based Economic Development for increasing Access to Capital Standards for Excellence Institute 2010 Standards for Excellence only second Oklahoma non-profit organization certified Regional Innovation Acceleration Network 2011 Venture Development Market Leader recognized as a leader in this field
U.S. Economic Development Administration
Oklahoma Business Roundtable Presbyterian Health Foundation Oklahoma Manufacturing Alliance The Oklahoma Experimental Program to Stimulate Competitive Research (EPSCoR) Oklahoma Department of Commerce U.S. Department of Treasury State Small Business Credit Initiative
O
ver our 18-year history, i2E’s nationally recognized services have provided business expertise and funding to more than 675 of Oklahoma’s emerging small businesses.
With more than $50 million of investment capital under management, we are focused on serving Oklahoma companies in all phases of the business life cycle, from startups looking for initial capital to established businesses seeking funding to expand their markets or products. We strive to create more high paying jobs in Oklahoma while diversifying our economy. We help launch new products into the marketplace more efficiently and more quickly while providing guidance to bring more funding to Oklahoma’s researchers and entrepreneurs. Through our proven business and venture development process, we turn innovations into successful enterprises ... i2E.
– Scott Meacham President & CEO
6 Access to Capital
10 Venture Advisory Services
12 Investments
14 Entrepreneurial Development
16 Financials
1999
ACCESS TO CAPITAL i2E has been a primary source of concept, seed stage, start-up and early growth investment capital for Oklahoma’s emerging small businesses for nearly two decades. The rigorous approach of its investment process has built a reputation for producing companies that are well positioned for success in the market place. i2E offers investment funds that assist companies at each stage of their business lifecycle and also complement Oklahoma angel investors and other capital sources. In FY2016, the Technology Business Finance Program (TBFP), Oklahoma Seed Capital Fund and Accelerate Oklahoma! Fund, i2E committed over $4.5 million in investment funding to 20 companies. Through the statewide SeedStep Angel group of 54 individual investors, that i2E manages, an additional $2.2 million was invested in 12 different companies.
i2E’s portfolio of Oklahoma-based companies attracted
$590,762,531 in private investment from banks, venture capital funds, angel investors and other strategic investors .
6
TBFP CONCEPT FUND This fund is designed to provide Oklahoma start-up companies with preseed, proof-of-concept funding to develop a marketable concept or product.
OKLAHOMA SEED CAPITAL FUND This early stage fund targets new companies and existing companies looking to move into a new product or market. This investment enables companies to build a business infrastructure around their concept or product, take their concept to market or scale concepts that have reveived market validation. Investment terms are typically convertible debt or preferred equity on market terms and involve a rigorous due diligence and approval process. The Oklahoma Seed Capital Fund is a state appropriated investment fund through the Oklahoma Center for the Advancement of Science and Technology, managed by i2E.
ACCELERATE OKLAHOMA! FUND As a part of the federal States Small Business Credit Initiative (SSBCI), this U.S. Treasury funded initiative offers funds that provide critical capital and co-investment for Oklahoma entrepreneurs at specific stages of their companies’ lifecycles. Investment terms are typically convertible debt or preferred equity on market terms and involve a rigorous due diligence process.
SEEDSTEP ANGELS This is a network of Accredited Oklahoma investors who provide capital, strategic advice and mentoring to emerging growth companies to help them succeed. Typical investments range from $50,000–$500,000 with individual members making investment decisions.
7
A C C E S S T O C A P I TA L
FY2016 SEED CAPITAL FUND Oklahoma Seed Capital Fund
This seed stage fund targets new companies and existing companies looking to move into a new product or market. This investment enables companies to build a business infrastructure around their concept or product, take their concept to market or scale concepts that have received market validation. Investment terms are typically convertible debt or preferred equity on market terms and involve a rigorous due diligence and approved process. The Oklahoma Seed Capital Fund is a state appropriated investment fund through the Oklahoma Center for the Advancement of Science and Technology, managed by i2E.
2015 IMPACT
$13,222,880 $111,000,000
Since 2007 the Seed Fund has invested in 28 companies leveraging over
in private investment
8 $68,464 174 full time employees with average annual wage of
New Patents Issued
$5.1M Annual Payroll
$12.6M Annual Revenue
44% Job Growth
BY INDUSTRY
Computer Software and Hardware 42%
4% Subassemblies/Components 4% Manufacturing Equipment
Life Science 42%
8
4% Chemicals 4% Energy & Environment
A C C E S S T O C A P I TA L
CONCEPT FUND 1999-2016 TBFP Concept Fund This fund is designed to provide Oklahoma start-up companies with pre-seed, proof of-concept funding to develop a marketable concept or product. Since 2011 the Concept Fund has been self-sustaining. 2015 IMPACT
$11,830,346 $5,834,254
has been invested in 119 companies
with repayments totaling
annual revenue
7 $53,408 206 full time employees with an average annual wage of
New Patents Issued
$5.5M Annual Payroll
$19.2M Annual Revenue
34% Job Growth
LEVERAGED PRIVATE INVESTMENT
$400M All Concept Fund Companies $405,930,444
For every dollar invested by the state, i2E clients have raised $45 in private capital
Concept Funding $11,830,346
1999
2016
BY INDUSTRY
Computer Software and Hardware 35% Life Science 26%
2% Manufacturing Equipment 5% Advanced Materials 7% Energy & Environment 10% Other 15% Telecom/Internet
9
VENTURE ADVISORY SERVICES Our venture advisors work closely with each client, assisting them in the commercialization of their concept from initial technology development to business launch to scaling of proven concepts. These services involve assessing product-market fit, determining optimal go to market strategies, business planning, determining capital needs and positioning for funding. The Venture Assessment Program (VAP) helps entrepreneurs perform market analysis and investigate the commercial opportunity of their business. This is a three week program designed to investigate the product-market fit and business opportunity of a startup including:
> Assessment of market needs > Determination of potential market(s) and market size > Identify market barriers > Identify preliminary distribution channels > Identify market trends and competitors > Estimate preliminary profit potential
The Oklahoma Small Business Research Assistance (SBRA) program offers the resources and expertise to
successfully compete for federal grant funding. i2E co-directs this program with the Oklahoma Center for the Advancement of Science and Technology. SBRA’s goal is to increase both the number of Oklahoma applicants for SBIR/STTR funding as well as the number of successful grant proposals from Oklahoma.
Portfolio Companies 1998-2016: 2015 ECONOMIC IMPACT
$129,084,495 Annual Revenues
975
Full Time Equivalent Employees
493 All New Products Introduced
BY INDUSTRY
15% Other Life Science 24% 11% Energy & Environment 6% Subassemblies & Components IT/Software 40%
10
4% Advanced Materials
28
New Patents Issued
2015 REPORTED SALES DISTRIBUTION i2E’s portfolio of high-growth companies is producing products or services targeted at large domestic and international markets. Our client companies continue to report that 70% of their revenue is generated from sales outside Oklahoma. That brings revenue into the state and creates jobs and wealth for Oklahomans.
58%
30%
12%
Domestic
Oklahoma
International
COMPANIES’ JOB GROWTH 2008
2009
2010
2011
2012
2013
2014
2015
2016
i2E Portfolio
26%
36%
20%
22%
39%
31%
32%
17%
29%
State Average
1.4%
-1.9%
-0.1%
1.2%
1.3%
1.9%
1.2%
1.1%
-.05
2015 AVERAGE ANNUAL WAGE COMPARISON
$64,245 $42,458
Oklahoma
i2E Portfolio
Our clients are true small businesses, with 74% employing 10 people or less, while paying 51% higher than the state average
In FY2016 i2E provided advisory services to 76 entrepreneurial companies. We helped position 27 companies for funding with a total of 29 clients obtaining more than $22M in private equity capital.
BY GEOGRAPHY
226
111
Balance of State
341
Tulsa
OKC
11
FY2015 CLOSED INVESTMENTS Accele Biopharma Oklahoma City AccelerateOK – $400,000 Accele Biopharma is a business accelerator that provides bioscience startups with the management and financial resources needed to take groundbreaking science from the laboratory to commercialization. Agric-Bioformatics Oklahoma City Concept Fund – $19,000 Agric-Bioformatics is developing a powerful, easy-to-use, affordable technology platform that will enable cattle producers to tap into the transformative power of genomic data. Arthrokinex Oklahoma City and Tulsa Seed Fund I I– $500,000 Arthrokinex is a comprehensive joint health program that can reduce or eliminate joint pain from osteoarthritis through the healing powers of the patient's own blood without complications. Associated Material Processing Stillwater AccelerateOK – $156,200 AMP has developed an iron polymer that economically removes heavy metals from water and other fluids. BioLytx Oklahoma City Seed Fund II – $500,000 Biolytx's core technology is the development of a novel antibiotic peptide for use in treatment of serious hospital-acquired infections, including those resistant to current antibiotics. CrowdSeekr LLC Oklahoma City Concept Fund – $38,000 CrowdSeekr partners with crowdfunding platforms to create a web-based database of real estate crowdfunding investment opportunities. Driven Analytics Oklahoma City AccelerateOK Fund – $400,000 Driven Analytics aggregates and analyzes driver behavior and vehicle information to provide actionable information back to the car owner with regard to their current maintenance and repair needs. 12
Exaptive, Inc. Oklahoma City AccelerateOK – $750,000 Exaptive’s patent-pending software allows for highly interactive data-centric applications to easily navigate and extract information from complex data landscapes. Get People Moving, LLC Edmond Concept Fund – $10,000 Get People Moving has developed a new personal mobility solution that is a light-weight, all-terrain mobility vehicle suitable for both outdoor and indoor use. Hire360 Tulsa Concept Fund – $48,000 Hire360 lifts the burden of analyzing stacks of resumes off the shoulders of managers. Using built-in artificial intelligence, the technology scores each candidate from among millions of resumes and ranks them according to the skills that a company is seeking. ICEdot Tulsa AccelerateOK – $500,000 ICEdot has created an innovative crash sensor for helmets that detects forces consistent with head injury and notifies emergency contacts of the owners GPS coordinates via text message. Levate LLC Norman Concept Fund –$50,000 Levaté LLC is a startup wheelchair product firm working to develop and commercialize an innovative wheelchair lift built for manual wheelchair users facing reachrelated challenges. Linker Safety, LLC Oklahoma City Concept Fund – $40,000 Linker Safety's technology creates an efficient, systematic approach to onsite oilfield safety by automating well site check-ins, streamlining the documentation process and digitizing records.
Mobile tAPPestry Oklahoma City Concept Fund – $50,000 Mobile tAPPestry’s tool and related services revolutionize the building and deploying of mobile apps, as compared to native app development, both in cost and project development time. Moleculera Labs Oklahoma City AccelerateOK – $750,000 Moleculera has developed a diagnostic test that can identify a treatable Autism related disorder called PANS or PANDAS. Monscierge, Inc Oklahoma City AccelerateOK Fund – $500,000 Monscierge develops and markets advanced interaction technologies for touch screen and multi-touch platforms. Otologic Pharmaceutics Oklahoma City AccelerateOK Fund and Seed Fund II – $590,406 Otologic commercializes promising technologies that address novel pharmacological solutions for hearing and balanced health. Pamlico Biopharma Oklahoma City Seed Fund II – $500,000 Pamlico is developing a therapeutic to increase the effectiveness of antibiotics. Pamlico was founded on technologies from OMRF and Emory University and is anticipated to enter clinical trials in late 2015/early 2016. phenomenon.watch, LLC Bethany Concept Fund – $40,000 Phenomenon.watch powers crowdfunding for nonprofits and neighbors in need, giving circles for group giving and community give days. Qwik Response Systems Oklahoma City Concept Fund – $40,000 Qwik Response Systems is a software development company that specializes in inventing mobile phone applications with a focus on safety and emergency situations.
Roll-2-Roll Technologies, LLC Stillwater Seed Fund II – $250,000 Roll-2-Roll developed an industrial device called a “lateral guide” for the roll-to-roll manufacturing industry. Selexys Oklahoma City Seed Fund I – $51,079 Selexys Corporation is a biopharmaceutical company with a pipeline of three drug candidates for treatment of inflammation. Shipzen Tulsa Concept Fund – $100,000 Shipzen is a cloud-based software application that helps eliminate shipping errors and system inefficiencies with a low cost enterprise level fulfillment system. Spectrum FX Tulsa Concept Fund – $37,000 SpectrumFX makes fire suppression products for the airline industry that suppress the hottest burning fires, such as lithium and magnesium fires, more effectively and safely than current technology. Spiers New Technologies Oklahoma City AccelerateOK Fund – $500,000 Spiers New Technologies is the leading full-service provider of "4R" services for advanced battery packs used in hybrid and electric vehicles.
Stream Dynamics Moore Concept Fund – $47,500 Stream Dynamics' micro accountability software drives a powerful, globally accessible, continuous improvement system designed to reduce defective performance in people. Synercon Technologies Broken Arrow Seed Fund II – $200,000 Synercon has developed a patented universal device to quickly and accurately recover “black box” data from large trucks and buses after accidents.
Tetherex Oklahoma City Seed Fund – $500,000 Tetherex is developing a treatment for inflammatory and thrombotic diseases such as Crohn’s disease. Preclinical studies have shown a positive impact in remission of the disease with evidence of potentially reversing the disease process. UltraBotanica Oklahoma City Concept Fund – $40,000 UltraBotanica developed a method to bind curcumin to whey protein effectively increasing the bioavailability by more than 15,000 times.
Synereca Oklahoma City Seed Fund II – $208,333 Synereca Pharmaceuticals was created to address the growing problem of bacterial resistance to current antibiotics by developing orally active drugs that restore or increase the effectiveness of existing antibiotics.
Valve Systems International LLC Tulsa AccelerateOK – $175,000 VSI has designed a valve employing a patent pending actuation system that has reduced internal erosion potential of severe service valves. This permits the valve to exceed the performance of current control valves in the severe service market.
TeleVet Oklahoma City Concept Fund – $39,000 TeleVet is a service that aims to establish a stronger connection between veterinarians and pet owners by providing medical information to all authorized parties.
WeGoLook Oklahoma City AccelerateOK Fund and Seed Fund II –$382,798 WeGoLook utilizes crowd-sourcing to provide verification for buyers of online products such as automobiles and heavy equipment, as well as providing inspections and document delivery services through a nationwide network of more than 15,000 field agents known as “Lookers.” Total: $4,593,037
FY2016 No. of Approved Investments No.of Approved Companies1 Total Amt of Investment
CONCEPT
SEED
ACCELERATE TOTALS
11 7 6 24 11 6 5 20 $511,500
$2,194,935
$1,886,602
$4,593,037
Inception through FY2016 No. of Approved Investments No.of Approved Companies1 Total Amt of Investment
CONCEPT
SEED ACCELERATE TOTALS
157 49 34 240 138 26 22 186 $11,830,346
$13,222,830
$11,692,192
$36,745,418
13
ENTREPRENEURIAL DEVELOPMENT Our Entrepreneurial Development programs encourage entrepreneurship through a variety of events and activities including a statewide collegiate business plan and pitch competition and fellowship programs that expose students to early stage businesses with practical, hands-on application of what they are learning in the classroom.
THE FELLOWSHIPS
The i2E Fellowship program draws enterprising students ready to put their skills to work in entrepreneurial settings at an Oklahoma startup or with i2E. Of the 20 students who applied for the 2016 Fellowship, three were selected. They each earned $6,000 for the 10-week Fellowship where they tackled real world projects designed for their individual skill sets. Over the eight year history of the program, 49 students from campuses across Oklahoma and beyond have received i2E Fellowship opportunities, earning $250,500 along the way. FY2015 MEDIA & MARKETING
27 networking events 14 e-Blasts 104 weekly columns published 3 i&E magazines
14
2016 GOVERNOR'S CUP AWARD WINNERS
THE DONALD W. REYNOLDS GOVERNOR’S CUP
Team building, academic diversity, market research and financial projections are all key elements that go into creating a winning team in the Donald W. Reynolds Governor’s Cup. Students take what they’ve learned in the classroom and apply it to real world opportunities as they assemble a team, identify a product, research the market, formulate financial projections, write business plans and then pitch the opportunity to a panel of potential investors. In the 12-year history, more than 1,700 college students have taken the GovCup challenge, producing over 600 innovative ideas from 35 campuses statewide and awarding over $1.6M in cash, $95K in scholarships and $250K in fellowships. Over 35 have gone on to become i2E clients.
1700 College Students
$1,600,000 Cash Awarded
600
Innovative Ideas
35
Campuses Statewide
$95,000 In Scholarships
$250,000 In Fellowships
Love’s Travel Stops will become the event’s Signature Sponsor beginning in 2017, replacing the founding sponsor, the Donald W. Reynolds Foundation. The Reynolds Foundation has sponsored the event for the past 12 years, underwriting the cash prizes annually awarded to winning teams of college students. The Foundation is set to dissolve at the end of this year and no longer will be awarding grants.
SMALL BUSINESS DIVISION
First place – Air-EZ East Central University Second place – Back Seat Hero, East Central University Third place – Pure Golf, St. Gregory’s University HIGH GROWTH UNDERGRADUATE DIVISION
First place – Project Pediatrics, University of Oklahoma Second place – Heart Optic, LLC, University of Central Oklahoma Third place – KegSafe, Oral Roberts University HIGH GROWTH GRADUATE DIVISION
First Place – MITO Material Solutions, Oklahoma State University Second Place – Nutripeutrics, University of Oklahoma Third Place – WoodPro, Oklahoma State University ROBERT E. CRAINE OUTSTANDING VENTURE AWARD
Nutripeutrics, University of Oklahoma OKLAHOMA BUSINESS ROUNDTABLE PAULSEN AWARD SCHOLARSHIP WINNERS
Small Business Division – Larisa Bolin, East Central University High Growth Undergraduate Division – Roberto Gallegos Castillo, Oral Roberts University High Growth Graduate Division – Amanda Curtis, University of Oklahoma IBM PITCH WINNERS
Small Business Division – Austin McRay, Oklahoma Christian University High Growth Undergraduate Division – Morgan Timmons, University of Central Oklahoma High Growth Graduate Division – Anthony Purinton, University of Central Oklahoma INTERVIEW WINNERS
AT&T INFORMATION TECHNOLOGY/ COMMUNICATIONS AWARD KegSafe, Oral Roberts University GREATER OKLAHOMA CITY CHAMBER HEALTHCARE AWARD Heart Optic, LLC, University of Central Oklahoma i2E STUDENT GENERATED AWARD ARdecor, University of Oklahoma OG&E POSITIVE ENERGY AND ENVIRONMENTAL AWARD Cubby Connect, University of Oklahoma OKLAHOMA BUSINESS ROUNDTABLE MANUFACTURING, MATERIAL SCIENCE AND TRANSPORTATION AWARD MITO Material Solutions, Oklahoma State University
FINANCIAL REPORTS
Statement of Activities Assets Cash & Cash Equivalents Cash Restricted for Future Funds Investments Accounts Receivable Prepaid Expenses Certificates of Deposit Investment in Oklahoma Seed Capital Fund Investment in Oklahoma Angel Fund 1 Accelerate Oklahoma Funds Investment Furniture, Fixtures and Equipment, Net Other Assets Total Assets Liabilities and Net Assets Accounts Payable TBFP Reinvestment Fund Payable Accelerate Oklahoma Funding Payable Deferred Revenue Accrued Liabilities Total Current Liabilities Total Liabilities Net Assets Unrestricted -Investments Unrestricted - Board Designated Total Unrestricted Net Assets Total Liabilities and Net Assets
FY2015 REVENUE PERCENTAGES OCAST Contracts Tulsa Business Development Initiative Accelerate Oklahoma Admin Revenue Accelerate Oklahoma Investment Funding Fund Management Fees Client Services Fees Event Sponsorships and Fees Corporate Contributions Gains/Losses - Investments
Interest Income-Investments -2% Realized & Unrealized
16
FY2016 1,707,673 283,100 386,511 15,101 100,573 40,554 9,000 10,719,597 72,078 9,290 13,343,477 34,629 130 283,100 15,691 89,148 422,698 422,698 2,082,751 10,838,028 0 12,920,779 13,343,477
FY2015 1,512,533 1,234,599 309,730 35,049 100,322 34,756 0 8,476,995 90,170 9,290 11,803,444 9,236 130 1,221,599 138,699 69,864 1,439,528 1,439,528 1,830,287 8,520,628 13,000 10,363,915 11,803,443
28+4+23811861 2%
29%
11%
4%
2%
39%
Statement of Activities Revenues OCAST Contracts Tulsa Business Development Initiative Accelerate Oklahoma Admin Revenue Accelerate Oklahoma Investment Funding Fund Management Fees Client Service Fees Event Sponsorships and Fees Corporate Contributions Realized & Unrealized Gains/Losses -Investments Interest Income-Investments Other Income Total Revenues Expenses OK Technology Commercilization Center Technology Business Financing Program i2E Seed Capital Fund Accelerate Oklahoma Program Donald W. Reynolds Governor's Cup Tulsa Business Development Initiative OK Bioscience Institute i2E Management Co Non-Program Total Expenses Excess of Revenues Over Expenses Net Assets at Beginning of Year Net Assets at End of Year
FY2016 1,751,221 221,910 92,675 2,326,602 654,049 129,626 490,181 360,750 -91,202 60,000 5,712 6,001,524 1,541,105 193,633 587,985 96,066 347,995 221,913 195,269 -654 261,348 3,444,660 2,556,864 10,363,915 12,920,779
FY2015 1,939,543 170,309 87,470 2,786,246 603,134 118,622 442,691 242,800 -81,455 8,877 62,167 6,380,404 1,754,873 159,814 541,303 97,879 320,112 170,309 192,608 0 146,702 3,383,600 2,996,804 7,367,111 10,363,915
45+17+10682 3%
FY2015 EXPENSE PERCENTAGES OK Technology Commerciliaztion i2E Seed Capital Fund Donald W. Reynolds Governor's Cup OK Bioscience Institute Technology Business Finance Program Tulsa Business Development Intiative Non-Program Accelerate Oklahoma Program 0% i2E Management Co
8%
6%
6%
45%
6%
10%
17%
17
i2E TEAM
BOARD OF DIRECTORS
The i2E management and staff is composed of professionals with extensive experience in technology commercialization, business development, venture investing, finance, organizational.
Howard G. Barnett, Jr., Chairman OSU-Tulsa, OSU-CHS
Scott Meacham President & CEO Rex Smitherman Senior Vice President, Operations Sarah Seagraves Senior Vice President, Marketing
Stephen Prescott, Vice Chair OMRF Michael LaBrie, Secretary McAfee & Taft Leslie Batchelor Center for Economic Development Law Robert Brearton American Fidelity Assurance Company
Mark Lauinger Senior Vice President, Client Services
Jay Calhoun Cherokee National Businesses
Tom Francis Director of Funds Administration
Michael Carolina OCAST
Judy Beech Director of Finance
Rita Combs REYAP Youth Programs
Carol Curtis Venture Advisor
Steve Cropper
Richard Rainey Venture Advisor & Director, SBRA Program
Carl Edwards Price Edwards Company Presbyterian Health Foundation
Kevin Moore Venture Advisor & Director of Angel Investments
Philip Eller Eller Detrich, P.C.
Claire Robison Venture Advisor James Lovely Venture Advisor Stacey Brandhorst Venture Advisor & Director of Venture Assessment
Danny Hilliard Chickasaw Nation Joseph J. Ferretti University of Oklahoma Health Sciences Center Brad Krieger Arvest Bank
Scott Thomas IT Manager
Philip Kurtz CareATC
Darcy Wilborn Client Engagement Director
Hershel Lamirand III Capital Development Strategies
Cindy Williams Underwriting Coordinator & Investment Compliance Officer
Merl Lindstrom Phillips 66
Katelynn Henderson Events Specialist Shaun Fair Underwriting Specialist Zach Kinder Multimedia Specialist Jennifer Buettner Executive Assistant Kate Nelson Administrative Assistant
Fred Morgan The State Chamber David Pitts Bank SNB Mark Poole First National Bank of Broken Arrow Ryan Posey HSI Sensing Teresa Rose Crook Oklahoma City Community Foundation Meg Salyer Accel Financial Staffing Darryl Schmidt BancFirst Craig Shimasaki Moleculera Labs Brien Thorstenberg Tulsa Regional Chamber Roy Williams Greater Oklahoma City Chamber Richard Williamson T.D. Williamson Duane Wilson LDW Services, LLC
INSTITUTIONAL GOVERNANCE
i2E strives to have the highest standards of corporate governance practice and ethical conduct by all board members and staff. Consistent with those intentions, i2E has received the Standards for Excellence Certification. Board of Directors Charter of Governance: Sets and ensures fidelity to i2E’s mission. Reviews and approves organizational strategy, goals, plans, and budgets. In addition the board is charged with establishing policies, approving major engagements in public policy, and ensuring that management systems are in place for compliance. Executive Committee Charter: The function of the Executive Committee is to exercise powers of the Board of Directors on matters which arise between regularly scheduled Board meetings or when it is not practical or feasible for the Board to meet. This Committee also reviews and monitors all compensation, benefit and human resource policy matters, plus monitors and evaluates the performance of the corporation’s CEO. Finance and Audit Committee Charter: The primary purpose of this Committee is to assist the Board of Directors in fulfilling its fiscal oversight responsibilities. It serves as an independent and objective party to monitor the integrity of the Corporation’s financial accounting and reporting processes and internal control system. Nominating and Governance Committee Charter: The Committee assists the Board in developing and overseeing the Corporation’s policies and procedures regarding Board composition and recommendations of candidates for nomination to the Board. Investment Committee Charters: The Board engages two Investment Committees, The Oklahoma Seed Capital Fund Investment Committee and the Accelerate Oklahoma Committee, to consider and approve applications for investment within the requirements of the investment programs.
Resource Development Committee: The primary function of the Resource Development Committee is to assist i2E in attaining sustainability of its programs and services and to diversify its funding sources by formulating strategies for fundraising in the short and long-term, establish clear goals for sustainability of the organization, and achieve diversity in funding sources, as well as, assisting the Board of Directors in identifying and cultivating donors and funding partners on the behalf of i2E. Code of Ethics and Conflict of Interest: The i2E Code of Ethics and Conflict of Interest Policy outlines principles and standards of honesty and ethical accountability by which all board members and employees agree to adhere to with respect to the company and its associates. Board Evaluation: The Board completes a board evaluation survey biannually. The results of the evaluation are compiled and presented to the full Board for review and biannual discussion. i2E, Inc. is a 501(c)(3) private not-for-profit corporation focused on growing innovative small businesses in Oklahoma and making a positive impact on the state’s economy. i2E receives state appropriations from the Oklahoma Center for the Advancement of Science and Technology and is an integral part of Oklahoma’s Innovation Model.
840 Research Parkway, Suite 250 • OKC, OK 73104 618 E. Third, Suite 1 • Tulsa, OK 74120 www.i2E.org • facebook.com/i2E • facebook.com/OKLOVESCUP • twitter.com/i2E_Inc