O K L A H O M A’ S A D VA N C E D T E C H N O L O G Y M A G A Z I N E
SUMMER 2012
CUP OF OPPORTUNITY Governor’s Cup competition opens doors for students, complements entrepreneurship on Oklahoma campuses SpectrumFX team members from the University of Tulsa show off their trophy after winning first place in the Graduate Division of the 2012 Donald W. Reynolds Governor’s Cup.
INSIDE i&E Profiles idefi Music 4 Mintiva 6 Precision Healthcare Group 8 Word Industries Fabrication 10 12 Cover Story The Donald W. Reynolds Governor’s Cup has rewarded Oklahoma college students with cash prizes, scholarships and fellowships, opened doors to career opportunities and complements entrepreneurship courses and degree programs on campuses across the state.
18 Entrepreneurship Programs 20 Tom Walker’s Legacy A look back at the accomplishments of i2E’s departing CEO, along with testimonials to his impact on Oklahoma’s startup community.
24 Partners
innovators & Entrepreneurs is produced by i2E, Inc., manager of the Oklahoma Technology Commercialization Center. For more information on any content contained herein, please contact i2E at 800-337-6822. © Copyright 2012 i2E, Inc. All rights reserved.
INSIDE i&E Profiles idefi Music 4 Mintiva 6 Precision Healthcare Group 8 Word Industries Fabrication 10 12 Cover Story The Donald W. Reynolds Governor’s Cup has rewarded Oklahoma college students with cash prizes, scholarships and fellowships, opened doors to career opportunities and complements entrepreneurship courses and degree programs on campuses across the state.
18 Entrepreneurship Programs 20 Tom Walker’s Legacy A look back at the accomplishments of i2E’s departing CEO, along with testimonials to his impact on Oklahoma’s startup community.
24 Partners
innovators & Entrepreneurs is produced by i2E, Inc., manager of the Oklahoma Technology Commercialization Center. For more information on any content contained herein, please contact i2E at 800-337-6822. © Copyright 2012 i2E, Inc. All rights reserved.
i2E TEAM
ABOUT i2E i2E’s award winning suite of venture advisory services, access to capital and entrepreneurial development programs are all designed to help us accomplish our mission: home grown economic development by nurturing high growth companies in Oklahoma. We have recently enhanced the services we provide by adding new employees to carry out our mission and tapping new sources of funding that will allow us to deepen our positive impact upon Oklahoma’s economy. With a $1 million grant from the Federal Economic Development Administration and matching funds from five local partners – the Greater Oklahoma City Chamber, the city of Oklahoma City, the Oklahoma Medical Research Foundation, the Oklahoma Business Roundtable, and Presbyterian Health Foundation – i2E offers expanded venture advisory services to even more Oklahoma entrepreneurs beginning at the earliest stage of their companies’ development. And we teamed with the Oklahoma Department of Commerce and the U.S. Department of Treasury to offer more than $13 million in investment capital to the state’s emerging high growth companies. Appropriated by the Treasury Department through the Oklahoma Commerce Department and managed by i2E, the Accelerate Oklahoma! initiative creates three separate funds that target companies at different stages along the business lifecycle. i2E now offers access to capital opportunities to Oklahoma’s high growth companies from five distinct investment funds, as well as the SeedStep Angels network of investors. The eighth annual Donald W. Reynolds Governor’s Cup concluded this spring with new opportunities for more teams to compete for cash prizes. We also expanded the number of i2E Fellows who gained valuable experience while contributing their skills to emerging Oklahoma companies. Our services are evolving, but the bottom line is we continue to help innovative, high growth companies succeed in Oklahoma.
The i2E management and staff is composed of professionals with extensive experience in technology commercialization, business development, venture investing, finance, organizational.
Leslie Batchelor The Center for Economic Development Law Robert Brearton American Fidelity Assurance Company
C. James Bode Bank of Oklahoma, N.A. Tom Walker Bill W. Burgess President and CEO Vortex, Inc. David Thomison Michael Carolina Vice President, Investments OCAST
Rex Smitherman Bob Craine Vice President, Operations TSF Capital, LLC
Wayne Embree Steve Cropper Vice President, Entrepreneur Services Philip Eller Sarah Seagraves Eller Detrich, P.C. Vice President, Marketing Suzette Hatfield Tom Francis Crawley Ventures Director, Investment Funds David Hogan Josh O’Brien Hogan Taylor, LLP Director of Entrepreneurial Philip Kurtz Development Benefit Informatics David Daviee Hershel Lamirand III Director, Finance Oklahoma Health Shintaro Kaido Center Foundation Venture Advisor Merl Lindstrom Mark Lauinger Phillip 66 Venture Advisor Richard Rainey Venture Advisor Sonja Wilson CFO-In-Residence Casey Harness Business Analyst
Scott Meacham Crowe & Dunlevy
Fred Morgan The State Chamber David Myers Ponca City Development Authority
Kenneth Knoll Manager, Concept Funds
Michael Neal Tulsa Metro Chamber
Jim Stafford Communications Specialist
Darryl Schmidt BancFirst
Katelynn Henderson Events Specialist
Sheri Stickley OKBio
Cindy Williams Investment Assistant
Wes Stucky Ardmore Industrial Development Authority
David Pitts Scott Thomas Stillwater National Bank IT Manager Mark Poole Grady Epperly Summit Bank Marketing Manager Stephen Prescott Michael Kindrat-Pratt OMRF Coordinator, SeedStep Angels Meg Salyer Jay Sheldon Accel Financial Staffing eMedia Specialist
Jennifer Buettner Executive Assistant Kate Nelson Administrative Assistant BOARD OF DIRECTORS Roy Williams, Chairman Greater Oklahoma City Chamber
www.i2E.org facebook.com/OKGOVCUP twitter.com/i2E_Inc
Howard Barnett, Jr. OSU-Tulsa and OSU-CHS
Richard Williamson TD Williamson, Inc. Duane Wilson LDW Services, LLC Don Wood Norman Economic Development Coalition
Michael LaBrie, Secretary McAfee & Taft Jonathan Adamson Hall Capital Partners
A Letter From the President Oklahoma college students who enter the Donald W. Reynolds Governor’s Cup competition never fail to impress us with their eye for innovation and ability to translate it into investment worthy business plans. i2E has managed the Governor’s Cup for almost a decade, and we’ve now seen more than 1,200 students research, write and pitch business plans to panels of Oklahoma business and investment leaders. The students have competed for more than $1 million in cash, scholarships and fellowships over the years. It’s not just the cash with which Governor’s Cup participants are rewarded. In this issue of i&E magazine, we talk about the many opportunities that the next generation of Oklahoma entrepreneurs are presented with as GovCup competitors, as well as the courses and degree programs that have emerged on state campuses since the competition began nine years ago. And we recognize the 2012 Governor’s Cup winners and competitors in our cover story beginning on page 12. We’re also consistently amazed by the level of innovation that emerges in Oklahoma through the entrepreneurs we work with each day. We’re spotlighting four up-and-coming companies this edition. We profile a Tulsa company called idefi music (page 4), which is putting a new spin on the record label business through a Web-based business model. And we also highlight Word Industries Fabrication (page 10), another Tulsa company that is innovating efficient new ways to manufacture
and deliver high-tech equipment to help energy producers bring more oil and gas out of the ground. From Oklahoma City we profile a pair of new businesses advancing health care innovations. Mintiva (page 6) has developed a topical cream formula that relieves tension headaches and muscle pain when rubbed onto the skin. And Precision Healthcare Group (page 8) has created Web-based software to solve the massive documentation and tracking demands faced by contract physical therapy and rehabilitation businesses. Finally, I want to add a personal note to conclude this letter. As you may already know, I am leaving i2E later this summer to lead TechColumbus in Ohio (story, page 20). Thank you for supporting i2E through the years and the efforts of innovators like those found in the pages of this publication. Along with our staff and partners, i2E has a great team that is working hard to build companies and create wealth for Oklahoma, a mission that will continue long into the future. As always, I hope you are encouraged and enlightened as you read the pages of this edition of i&E magazine.
i2E TEAM
ABOUT i2E i2E’s award winning suite of venture advisory services, access to capital and entrepreneurial development programs are all designed to help us accomplish our mission: home grown economic development by nurturing high growth companies in Oklahoma. We have recently enhanced the services we provide by adding new employees to carry out our mission and tapping new sources of funding that will allow us to deepen our positive impact upon Oklahoma’s economy. With a $1 million grant from the Federal Economic Development Administration and matching funds from five local partners – the Greater Oklahoma City Chamber, the city of Oklahoma City, the Oklahoma Medical Research Foundation, the Oklahoma Business Roundtable, and Presbyterian Health Foundation – i2E offers expanded venture advisory services to even more Oklahoma entrepreneurs beginning at the earliest stage of their companies’ development. And we teamed with the Oklahoma Department of Commerce and the U.S. Department of Treasury to offer more than $13 million in investment capital to the state’s emerging high growth companies. Appropriated by the Treasury Department through the Oklahoma Commerce Department and managed by i2E, the Accelerate Oklahoma! initiative creates three separate funds that target companies at different stages along the business lifecycle. i2E now offers access to capital opportunities to Oklahoma’s high growth companies from five distinct investment funds, as well as the SeedStep Angels network of investors. The eighth annual Donald W. Reynolds Governor’s Cup concluded this spring with new opportunities for more teams to compete for cash prizes. We also expanded the number of i2E Fellows who gained valuable experience while contributing their skills to emerging Oklahoma companies. Our services are evolving, but the bottom line is we continue to help innovative, high growth companies succeed in Oklahoma.
The i2E management and staff is composed of professionals with extensive experience in technology commercialization, business development, venture investing, finance, organizational.
Leslie Batchelor The Center for Economic Development Law Robert Brearton American Fidelity Assurance Company
C. James Bode Bank of Oklahoma, N.A. Tom Walker Bill W. Burgess President and CEO Vortex, Inc. David Thomison Michael Carolina Vice President, Investments OCAST
Rex Smitherman Bob Craine Vice President, Operations TSF Capital, LLC
Wayne Embree Steve Cropper Vice President, Entrepreneur Services Philip Eller Sarah Seagraves Eller Detrich, P.C. Vice President, Marketing Suzette Hatfield Tom Francis Crawley Ventures Director, Investment Funds David Hogan Josh O’Brien Hogan Taylor, LLP Director of Entrepreneurial Philip Kurtz Development Benefit Informatics David Daviee Hershel Lamirand III Director, Finance Oklahoma Health Shintaro Kaido Center Foundation Venture Advisor Merl Lindstrom Mark Lauinger Phillip 66 Venture Advisor Richard Rainey Venture Advisor Sonja Wilson CFO-In-Residence Casey Harness Business Analyst
Scott Meacham Crowe & Dunlevy
Fred Morgan The State Chamber David Myers Ponca City Development Authority
Kenneth Knoll Manager, Concept Funds
Michael Neal Tulsa Metro Chamber
Jim Stafford Communications Specialist
Darryl Schmidt BancFirst
Katelynn Henderson Events Specialist
Sheri Stickley OKBio
Cindy Williams Investment Assistant
Wes Stucky Ardmore Industrial Development Authority
David Pitts Scott Thomas Stillwater National Bank IT Manager Mark Poole Grady Epperly Summit Bank Marketing Manager Stephen Prescott Michael Kindrat-Pratt OMRF Coordinator, SeedStep Angels Meg Salyer Jay Sheldon Accel Financial Staffing eMedia Specialist
Jennifer Buettner Executive Assistant Kate Nelson Administrative Assistant BOARD OF DIRECTORS Roy Williams, Chairman Greater Oklahoma City Chamber
www.i2E.org facebook.com/OKGOVCUP twitter.com/i2E_Inc
Howard Barnett, Jr. OSU-Tulsa and OSU-CHS
Richard Williamson TD Williamson, Inc. Duane Wilson LDW Services, LLC Don Wood Norman Economic Development Coalition
Michael LaBrie, Secretary McAfee & Taft Jonathan Adamson Hall Capital Partners
A Letter From the President Oklahoma college students who enter the Donald W. Reynolds Governor’s Cup competition never fail to impress us with their eye for innovation and ability to translate it into investment worthy business plans. i2E has managed the Governor’s Cup for almost a decade, and we’ve now seen more than 1,200 students research, write and pitch business plans to panels of Oklahoma business and investment leaders. The students have competed for more than $1 million in cash, scholarships and fellowships over the years. It’s not just the cash with which Governor’s Cup participants are rewarded. In this issue of i&E magazine, we talk about the many opportunities that the next generation of Oklahoma entrepreneurs are presented with as GovCup competitors, as well as the courses and degree programs that have emerged on state campuses since the competition began nine years ago. And we recognize the 2012 Governor’s Cup winners and competitors in our cover story beginning on page 12. We’re also consistently amazed by the level of innovation that emerges in Oklahoma through the entrepreneurs we work with each day. We’re spotlighting four up-and-coming companies this edition. We profile a Tulsa company called idefi music (page 4), which is putting a new spin on the record label business through a Web-based business model. And we also highlight Word Industries Fabrication (page 10), another Tulsa company that is innovating efficient new ways to manufacture
and deliver high-tech equipment to help energy producers bring more oil and gas out of the ground. From Oklahoma City we profile a pair of new businesses advancing health care innovations. Mintiva (page 6) has developed a topical cream formula that relieves tension headaches and muscle pain when rubbed onto the skin. And Precision Healthcare Group (page 8) has created Web-based software to solve the massive documentation and tracking demands faced by contract physical therapy and rehabilitation businesses. Finally, I want to add a personal note to conclude this letter. As you may already know, I am leaving i2E later this summer to lead TechColumbus in Ohio (story, page 20). Thank you for supporting i2E through the years and the efforts of innovators like those found in the pages of this publication. Along with our staff and partners, i2E has a great team that is working hard to build companies and create wealth for Oklahoma, a mission that will continue long into the future. As always, I hope you are encouraged and enlightened as you read the pages of this edition of i&E magazine.
Profiles idefi music
“When I first showed up at i2E, all I had was an idea and a dream. i2E helped me develop my dream into a viable business. It has not always been easy, but they have asked the hard questions while giving guidance and support.”
MUSICALLY DEFIANT
Brady Deaton CEO Year started: 2010 Location: Tulsa, OK Employees: 3
– Brady Deaton Product or Technology: A Web-based digital music label that provides tools for artists to reach their fans and sell music in new ways via the technology. Market: idefi music is creating a digital platform that will allow it to reach the both musicians and fans in the $20 billion recorded music industry. Future plans: The company will be franchising the idefi model worldwide with the help of Tulsa-based Beautiful Brands International. The franchises will share artists, which will serve to bring new styles of music to fans worldwide. Funding: Primarily self-funded since the beginning, idefi is seeking $200,000 to advance the company as the website goes live. Successes: idefi has more than 40 artists involved in its non-public beta test with the number climbing daily. Its website was built by online ticketing company TICKETsage in exchange for an ownership share in the new company. www.idefimusic.com
4
i&E
Summer 2012
Summer 2012 i&E
5
Profiles idefi music
“When I first showed up at i2E, all I had was an idea and a dream. i2E helped me develop my dream into a viable business. It has not always been easy, but they have asked the hard questions while giving guidance and support.”
MUSICALLY DEFIANT
Brady Deaton CEO Year started: 2010 Location: Tulsa, OK Employees: 3
– Brady Deaton Product or Technology: A Web-based digital music label that provides tools for artists to reach their fans and sell music in new ways via the technology. Market: idefi music is creating a digital platform that will allow it to reach the both musicians and fans in the $20 billion recorded music industry. Future plans: The company will be franchising the idefi model worldwide with the help of Tulsa-based Beautiful Brands International. The franchises will share artists, which will serve to bring new styles of music to fans worldwide. Funding: Primarily self-funded since the beginning, idefi is seeking $200,000 to advance the company as the website goes live. Successes: idefi has more than 40 artists involved in its non-public beta test with the number climbing daily. Its website was built by online ticketing company TICKETsage in exchange for an ownership share in the new company. www.idefimusic.com
4
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Summer 2012
Summer 2012 i&E
5
Profiles Mintiva Holdings, LLC
PAIN RELIEF IN A
“i2E worked with us to put the final touches on our business plan and investment slide deck and have been helpful in getting us in contact with angel investors and business contacts in and outside of Oklahoma,”
Ron Davidson CEO Year Started: 2008 Location: Oklahoma City, OK Employees: 2
– Ron Davidson
Product or Technology: Mintiva manufactures high quality, over-the-counter analgesic products. Market: The company sells its products to the over-the-counter analgesic market through Internet marketing, physicians clinics and a team of distributors nationwide.
“i2E worked with us to put the final touches on our business plan and
investment slide deck and have been helpful in getting us in contact with angel investors and business contacts in and outside of Oklahoma,” he said.
W
hen Oklahoma City-based Mintiva offered a free
and back pain and joint pain that afflicts golfers and other athletes.
sample of its topical cream for headache relief during
a three-day Internet campaign last year, it discovered
United States, Davidson said.
just how much pent-up demand exists for such a product.
suffer from tension headaches, and an estimated 12 million people
“We received 56,000 hits and had 7,500 hits in the first three
i&E
“You are looking at 150 million to 200 million people who
hours,” Mintiva CEO Ron Davidson said. “We had 22,000 people fill
suffer from TMJ,” he said.
out a very long form and give us all their information just to receive
a sample of the product.”
physicians’ offices and independent pharmacies. Currently, Mintiva
is building a team of sales professionals as well as putting together a
I should have said it was free to the first 100 customers who
Mintiva markets its line of topical products through its website,
sign up. At $1 a product, that campaign cost us a little bit of money.”
network of national distributors.
Mintiva’s over-the-counter topical cream can be rubbed on
Davidson has more than three decades of experience as a
the forehead, temples, jaws and neck and “in 5 to 10 minutes your
senior healthcare executive, and during that time built numerous
headache is relieved,” Davidson said. “You don’t have to take aspirin,
physician owned companies into prominent businesses in the
you don’t have to take any analgesics, just put a topical cream on
health care community.
your head and it will be relieved.”
The company has created a patented cream with a pleasant
also developed supporting services for physicians such as office
fragrance that contains 17 natural ingredients and uses
management, information technology and compliance programs,
nanotechnology to deliver pain relief after application to the skin.
and grew those businesses to successful ventures.
The Mintiva-branded topical creams are manufactured in Lawton,
Oklahoma.
advisory services that have helped the company target specific
markets and refocus on its flagship products for treating tension
These topical creams can treat tension headaches, a painful jaw
disorder known as temporal-mandibular joint disorder (TMJ), neck
6
Tension headaches afflict more than half the population of the
Summer 2012
Earlier this year, Davidson told the Mintiva story to an audience at the
Oklahoma Venture Forum meeting at the Presbyterian Health Foundation Conference Center. As he described the benefits of the Mintiva products, the microphone suddenly began to make a low drumbeat noise and momentarily disrupted the presentation.
A suggestion by someone sitting near the podium to “rub Mintiva on it”
drew a big laugh from the audience.
“That is the saying in our house,” Davidson responded. “Anytime you get
a scrape, pain, bruise, we just say rub mintiva on it.”
As Mintiva’s runaway Internet marketing campaign proved, the demand
for its pain-relief formulation extends far beyond the Davidson household.
Future plans: In addition to creating products specifically for tension headaches and TMJ, Mintiva is creating a line of pain relief products that target athletes and others who need muscle and joint relief. Funding: To date, Mintiva has leveraged capital from family and friends as well as angel investors. It plans to seek investment from angel investors and venture capital sources in the future. Successes: Mintiva has online sales in locations across the U.S. and the world, and its products can be found in more than 70 physicians’ offices. It also has secured production capabilities of up to 40,000 units daily. www.mintiva.com
He was in charge of healthcare industry acquisitions and
Mintiva has benefitted as a client of i2E from its venture
headaches and TMJ, Davidson said.
Summer 2012 i&E
7
Profiles Mintiva Holdings, LLC
PAIN RELIEF IN A
“i2E worked with us to put the final touches on our business plan and investment slide deck and have been helpful in getting us in contact with angel investors and business contacts in and outside of Oklahoma,”
Ron Davidson CEO Year Started: 2008 Location: Oklahoma City, OK Employees: 2
– Ron Davidson
Product or Technology: Mintiva manufactures high quality, over-the-counter analgesic products. Market: The company sells its products to the over-the-counter analgesic market through Internet marketing, physicians clinics and a team of distributors nationwide.
“i2E worked with us to put the final touches on our business plan and
investment slide deck and have been helpful in getting us in contact with angel investors and business contacts in and outside of Oklahoma,” he said.
W
hen Oklahoma City-based Mintiva offered a free
and back pain and joint pain that afflicts golfers and other athletes.
sample of its topical cream for headache relief during
a three-day Internet campaign last year, it discovered
United States, Davidson said.
just how much pent-up demand exists for such a product.
suffer from tension headaches, and an estimated 12 million people
“We received 56,000 hits and had 7,500 hits in the first three
i&E
“You are looking at 150 million to 200 million people who
hours,” Mintiva CEO Ron Davidson said. “We had 22,000 people fill
suffer from TMJ,” he said.
out a very long form and give us all their information just to receive
a sample of the product.”
physicians’ offices and independent pharmacies. Currently, Mintiva
is building a team of sales professionals as well as putting together a
I should have said it was free to the first 100 customers who
Mintiva markets its line of topical products through its website,
sign up. At $1 a product, that campaign cost us a little bit of money.”
network of national distributors.
Mintiva’s over-the-counter topical cream can be rubbed on
Davidson has more than three decades of experience as a
the forehead, temples, jaws and neck and “in 5 to 10 minutes your
senior healthcare executive, and during that time built numerous
headache is relieved,” Davidson said. “You don’t have to take aspirin,
physician owned companies into prominent businesses in the
you don’t have to take any analgesics, just put a topical cream on
health care community.
your head and it will be relieved.”
The company has created a patented cream with a pleasant
also developed supporting services for physicians such as office
fragrance that contains 17 natural ingredients and uses
management, information technology and compliance programs,
nanotechnology to deliver pain relief after application to the skin.
and grew those businesses to successful ventures.
The Mintiva-branded topical creams are manufactured in Lawton,
Oklahoma.
advisory services that have helped the company target specific
markets and refocus on its flagship products for treating tension
These topical creams can treat tension headaches, a painful jaw
disorder known as temporal-mandibular joint disorder (TMJ), neck
6
Tension headaches afflict more than half the population of the
Summer 2012
Earlier this year, Davidson told the Mintiva story to an audience at the
Oklahoma Venture Forum meeting at the Presbyterian Health Foundation Conference Center. As he described the benefits of the Mintiva products, the microphone suddenly began to make a low drumbeat noise and momentarily disrupted the presentation.
A suggestion by someone sitting near the podium to “rub Mintiva on it”
drew a big laugh from the audience.
“That is the saying in our house,” Davidson responded. “Anytime you get
a scrape, pain, bruise, we just say rub mintiva on it.”
As Mintiva’s runaway Internet marketing campaign proved, the demand
for its pain-relief formulation extends far beyond the Davidson household.
Future plans: In addition to creating products specifically for tension headaches and TMJ, Mintiva is creating a line of pain relief products that target athletes and others who need muscle and joint relief. Funding: To date, Mintiva has leveraged capital from family and friends as well as angel investors. It plans to seek investment from angel investors and venture capital sources in the future. Successes: Mintiva has online sales in locations across the U.S. and the world, and its products can be found in more than 70 physicians’ offices. It also has secured production capabilities of up to 40,000 units daily. www.mintiva.com
He was in charge of healthcare industry acquisitions and
Mintiva has benefitted as a client of i2E from its venture
headaches and TMJ, Davidson said.
Summer 2012 i&E
7
Profiles Precision Healthcare Group
A DIGITAL SOLUTION TO THE MEDICAL PAPER TRAIL
ake one recovering stroke victim, add a prescription for
T
17 in-home therapy visits and you have the recipe for
“You would be shocked at how many people still do this with paper and spreadsheets.”
Bill Towler CEO Year started: 2012 Location: Oklahoma City, OK
– Bill Towler
the ultimate medical services documentation challenge,
says Bill Towler, CEO of Oklahoma City-based Precision Healthcare Group.
“Let’s say physical therapy is 12 visits and occupational
Why?
Because
healthcare
professionals,
insurance
gatekeepers and government regulators follow an unwieldy paper trail to document medical services. Information flows slowly, errors creep in and payments are ultimately slowed to providers.
“You would be shocked at how many people still do this
with paper and spreadsheets,” Towler said. Precision Healthcare Group addresses that nightmare of documentation with a Software-as-a-Service solution for the contract therapy home healthcare industry.
healthcare therapists.
“The software essentially becomes a Trojan horse for Precision Therapy
Services,” Towler said. “It allows us to scale that business leveraging the
stack them all together and try tracking all of that for Medicare,
Employees: 9 fulltime and 125 contract home
home healthcare contract therapy subsidiary, Precision Therapy Services.
therapy is five,” he said. “Now, tracking that sounds easy, but and it’s a nightmare.”
It also has put Home Healthcare Assistant to work in its own high growth
Precision Healthcare’s software product,
Home Healthcare Assistant, transforms the record keeping from paper to digital format, Towler said.
When Home Healthcare Assistant is
used instead of paper, the result is a system that reduces billing errors, costs per visit and makes individual cases easier to track for both healthcare providers and payment sources such as Medicare. As a result, information flows faster and payments are received in a more timely fashion.
Home Healthcare Assistant software
was developed by Precision Healthcare Group subsidiary Visi-Health Software and is already is in use by contract therapy companies in six states. The company plans to transform it into a suite of software applications that will fit independent contractors working alone or a large contract agency.
efficiencies of the software.”
Precision Therapy Services intends to build a strong national presence
in what is a highly unorganized, fragmented industry where thousands of contract therapists work alone or with small agencies cobbled together by
Product or technology: Precision Healthcare Group operates a contract home healthcare agency called Precision Therapy Services and markets a Web-based software application to contract therapy companies called Home Healthcare Assistant that provides invoicing, patient
three or four therapists.
notes, payroll, frequency of visits and profitabil-
ity reporting.
“Very few of these companies do more than a half million dollars a year,”
he said. “The reason is these companies are started by therapists. There’s nothing wrong with that; they are great healthcare providers, but growing and scaling a brand is not necessarily their core expertise.”
Precision Healthcare Group already employs nine people full time plus
125 contract therapists, all in the Greater Oklahoma City area. It contracts with physical, occupational and speech therapists.
The company is poised for expansion, Towler said, adding both home
healthcare professionals and new territories.
“We are the second largest contract therapy company in the state,”
Towler said. “We are in the process of opening up the I-35 corridor to Ardmore and Ada and the I-44 corridor to both Wichita Falls and Tulsa.”
Towler has built several companies into successful enterprises dating
Market: The company serves both home health agencies and contract therapy companies serving the market. Future plans: Precision Healthcare plans to expand the territory served by its Precision Therapy Services subsidiary as well as add new features to create a software suite of applications for Home Healthcare Assistant. Funding: The company should close a $300,000 financing in the near future.
back to the 1980s, but didn’t hesitate to approach i2E for assistance in developing Precision Healthcare Group.
“i2E offers a lot of resources to a client that you would not otherwise
get as a startup or early stage business,” he said. “If I had to pay for all the services that i2E has provided to put this game plan together, especially all the financial modeling that Sonja Wilson has done, I would have spent $30,000$50,000. So, there is real value there.”
Within the next five years, Towler expects Precision Healthcare Group
to grow to a $15 million to $20 million business before looking at an exit with an established industry player or consolidating the industry through acquisitions.
Successes: Precision Healthcare Group generates revenue from both its subsidiaries; its software application is used by contract home healthcare companies in six states while its own Precision Therapy Services, a contract therapy company serves patients throughout the Greater Oklahoma City area through a network of 125 contract therapists. www.visi-health.com
Meanwhile, there is that mountain of paper documentation to replace
and a strong industry brand to be built.
8
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Summer 2012
Summer 2012 i&E
9
Profiles Precision Healthcare Group
A DIGITAL SOLUTION TO THE MEDICAL PAPER TRAIL
ake one recovering stroke victim, add a prescription for
T
17 in-home therapy visits and you have the recipe for
“You would be shocked at how many people still do this with paper and spreadsheets.”
Bill Towler CEO Year started: 2012 Location: Oklahoma City, OK
– Bill Towler
the ultimate medical services documentation challenge,
says Bill Towler, CEO of Oklahoma City-based Precision Healthcare Group.
“Let’s say physical therapy is 12 visits and occupational
Why?
Because
healthcare
professionals,
insurance
gatekeepers and government regulators follow an unwieldy paper trail to document medical services. Information flows slowly, errors creep in and payments are ultimately slowed to providers.
“You would be shocked at how many people still do this
with paper and spreadsheets,” Towler said. Precision Healthcare Group addresses that nightmare of documentation with a Software-as-a-Service solution for the contract therapy home healthcare industry.
healthcare therapists.
“The software essentially becomes a Trojan horse for Precision Therapy
Services,” Towler said. “It allows us to scale that business leveraging the
stack them all together and try tracking all of that for Medicare,
Employees: 9 fulltime and 125 contract home
home healthcare contract therapy subsidiary, Precision Therapy Services.
therapy is five,” he said. “Now, tracking that sounds easy, but and it’s a nightmare.”
It also has put Home Healthcare Assistant to work in its own high growth
Precision Healthcare’s software product,
Home Healthcare Assistant, transforms the record keeping from paper to digital format, Towler said.
When Home Healthcare Assistant is
used instead of paper, the result is a system that reduces billing errors, costs per visit and makes individual cases easier to track for both healthcare providers and payment sources such as Medicare. As a result, information flows faster and payments are received in a more timely fashion.
Home Healthcare Assistant software
was developed by Precision Healthcare Group subsidiary Visi-Health Software and is already is in use by contract therapy companies in six states. The company plans to transform it into a suite of software applications that will fit independent contractors working alone or a large contract agency.
efficiencies of the software.”
Precision Therapy Services intends to build a strong national presence
in what is a highly unorganized, fragmented industry where thousands of contract therapists work alone or with small agencies cobbled together by
Product or technology: Precision Healthcare Group operates a contract home healthcare agency called Precision Therapy Services and markets a Web-based software application to contract therapy companies called Home Healthcare Assistant that provides invoicing, patient
three or four therapists.
notes, payroll, frequency of visits and profitabil-
ity reporting.
“Very few of these companies do more than a half million dollars a year,”
he said. “The reason is these companies are started by therapists. There’s nothing wrong with that; they are great healthcare providers, but growing and scaling a brand is not necessarily their core expertise.”
Precision Healthcare Group already employs nine people full time plus
125 contract therapists, all in the Greater Oklahoma City area. It contracts with physical, occupational and speech therapists.
The company is poised for expansion, Towler said, adding both home
healthcare professionals and new territories.
“We are the second largest contract therapy company in the state,”
Towler said. “We are in the process of opening up the I-35 corridor to Ardmore and Ada and the I-44 corridor to both Wichita Falls and Tulsa.”
Towler has built several companies into successful enterprises dating
Market: The company serves both home health agencies and contract therapy companies serving the market. Future plans: Precision Healthcare plans to expand the territory served by its Precision Therapy Services subsidiary as well as add new features to create a software suite of applications for Home Healthcare Assistant. Funding: The company should close a $300,000 financing in the near future.
back to the 1980s, but didn’t hesitate to approach i2E for assistance in developing Precision Healthcare Group.
“i2E offers a lot of resources to a client that you would not otherwise
get as a startup or early stage business,” he said. “If I had to pay for all the services that i2E has provided to put this game plan together, especially all the financial modeling that Sonja Wilson has done, I would have spent $30,000$50,000. So, there is real value there.”
Within the next five years, Towler expects Precision Healthcare Group
to grow to a $15 million to $20 million business before looking at an exit with an established industry player or consolidating the industry through acquisitions.
Successes: Precision Healthcare Group generates revenue from both its subsidiaries; its software application is used by contract home healthcare companies in six states while its own Precision Therapy Services, a contract therapy company serves patients throughout the Greater Oklahoma City area through a network of 125 contract therapists. www.visi-health.com
Meanwhile, there is that mountain of paper documentation to replace
and a strong industry brand to be built.
8
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Summer 2012 i&E
9
Profiles Word Industries Fabrication, LLC
“i2E has been tremendous, and, hopefully, through their association we’ll get the capital we need to grow the business. They have asked tough questions that make me stop and say, ‘how do they know that when they have never fabricated a pipe in their life.’
Tom Word CEO Year Started: April 2011 Location: Tulsa, OK Employees: 65
– Tom Word Product/Technology: Word Industries Fabrication produces fabricated pipe and equipment for upstream, midstream and downstream sectors of the nation’s energy industry. Market: The company sells to existing oil and gas exploration and production companies throughout the energy producing areas of the country. Future Plans: Word Industries plans to sell to new markets that include metals and mining, agricultural (fertilizer), food processing, pulp and paper and pharmaceutical.
T
here is such a sense of mission among the 65 employees of Tulsa’s
“We’re proud of our opportunity to rid the USA of the dependency
on foreign oil,” goes the slogan. It might soon be emblazoned on Word Industries Fabrication T-shirts.
Founded by long-time manufacturing veteran Tom Word in 2011,
the company’s products that help producers bring oil and gas out of the ground and keep it flowing to U.S. consumers.
“You might not think that welders and pipefitters would see their
role in the global energy markets, but they do,” Word said.
Word Industries Fabrication is the latest in a series of companies
owned by Word that have served the energy industry for decades, including an earlier fabrication company that was sold in the 1990s.
Among products Word Industries Fabrication makes at its 40,000
square foot manufacturing location is a patent-pending pipe flange design called the Talon Flange, which reduces vibration in oilfield equipment and results in less downtime for maintenance. It also owns patents for a safety skid and a pipe gripper that add efficiency to Word’s production and delivery processes.
Customer feedback shows that the company differentiates itself
within the industry with both the quality of its products and its ability to deliver orders on time. That’s important in an industry in which directional and horizontal drilling and associated fracking techniques have created unmet demands for pipe and other fabricated equipment. 10
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Summer 2012
date.
support it. The company produces fabricated pipe, metering and
other products for the nation’s energy industry.
Funding: The company has been self funded to
Word Industries Fabrication, LLC, that they created a slogan to
In fact, availability and timely delivery of equipment remains the
energy industry’s biggest challenge, Word said. A high percentage of wells are capped today not because of low gas prices but because the infrastructure is not available to complete and connect them to gas collection systems.
“Until the infrastructure catches up, many wells will remain capped,”
he said. “They only wish we could deliver more and have greater capacity.”
Word established a relationship with i2E that has helped the company
position itself for growth, he said. Customers and industry trends are
Successes: Within a very short time since it began operations, Word Industries Fabrication has been recognized by significant exploration and production companies within the upstream and midstream segments of the oil and gas industry as a producer of quality fabricated equipment characterized by on-time performance. www.wordind.com
leading it into different segments of the energy industry.
“i2E has been tremendous, and, hopefully, through their association
we’ll get the capital we need to grow the business,” he said. “They have asked tough questions that make me stop and say, ‘how do they know that when they have never fabricated a pipe in their life.’
“We are fortunate to have such a highly experienced and education
resource to hold hands with and seek direction from,” he said.
The company plans to expand its production capacity to serve a larger
share of the nation’s energy industry and make an even bigger impact on efforts to reduce dependence on foreign energy sources.
“Our employees have a certain pride and swagger that they are helping
America declare its energy independence,” Word said. Mission accepted.
Summer 2012 i&E
11
Profiles Word Industries Fabrication, LLC
“i2E has been tremendous, and, hopefully, through their association we’ll get the capital we need to grow the business. They have asked tough questions that make me stop and say, ‘how do they know that when they have never fabricated a pipe in their life.’
Tom Word CEO Year Started: April 2011 Location: Tulsa, OK Employees: 65
– Tom Word Product/Technology: Word Industries Fabrication produces fabricated pipe and equipment for upstream, midstream and downstream sectors of the nation’s energy industry. Market: The company sells to existing oil and gas exploration and production companies throughout the energy producing areas of the country. Future Plans: Word Industries plans to sell to new markets that include metals and mining, agricultural (fertilizer), food processing, pulp and paper and pharmaceutical.
T
here is such a sense of mission among the 65 employees of Tulsa’s
“We’re proud of our opportunity to rid the USA of the dependency
on foreign oil,” goes the slogan. It might soon be emblazoned on Word Industries Fabrication T-shirts.
Founded by long-time manufacturing veteran Tom Word in 2011,
the company’s products that help producers bring oil and gas out of the ground and keep it flowing to U.S. consumers.
“You might not think that welders and pipefitters would see their
role in the global energy markets, but they do,” Word said.
Word Industries Fabrication is the latest in a series of companies
owned by Word that have served the energy industry for decades, including an earlier fabrication company that was sold in the 1990s.
Among products Word Industries Fabrication makes at its 40,000
square foot manufacturing location is a patent-pending pipe flange design called the Talon Flange, which reduces vibration in oilfield equipment and results in less downtime for maintenance. It also owns patents for a safety skid and a pipe gripper that add efficiency to Word’s production and delivery processes.
Customer feedback shows that the company differentiates itself
within the industry with both the quality of its products and its ability to deliver orders on time. That’s important in an industry in which directional and horizontal drilling and associated fracking techniques have created unmet demands for pipe and other fabricated equipment. 10
i&E
Summer 2012
date.
support it. The company produces fabricated pipe, metering and
other products for the nation’s energy industry.
Funding: The company has been self funded to
Word Industries Fabrication, LLC, that they created a slogan to
In fact, availability and timely delivery of equipment remains the
energy industry’s biggest challenge, Word said. A high percentage of wells are capped today not because of low gas prices but because the infrastructure is not available to complete and connect them to gas collection systems.
“Until the infrastructure catches up, many wells will remain capped,”
he said. “They only wish we could deliver more and have greater capacity.”
Word established a relationship with i2E that has helped the company
position itself for growth, he said. Customers and industry trends are
Successes: Within a very short time since it began operations, Word Industries Fabrication has been recognized by significant exploration and production companies within the upstream and midstream segments of the oil and gas industry as a producer of quality fabricated equipment characterized by on-time performance. www.wordind.com
leading it into different segments of the energy industry.
“i2E has been tremendous, and, hopefully, through their association
we’ll get the capital we need to grow the business,” he said. “They have asked tough questions that make me stop and say, ‘how do they know that when they have never fabricated a pipe in their life.’
“We are fortunate to have such a highly experienced and education
resource to hold hands with and seek direction from,” he said.
The company plans to expand its production capacity to serve a larger
share of the nation’s energy industry and make an even bigger impact on efforts to reduce dependence on foreign energy sources.
“Our employees have a certain pride and swagger that they are helping
America declare its energy independence,” Word said. Mission accepted.
Summer 2012 i&E
11
Opportunity: GovCuppers learned what it takes to conduct market research, formulate financial projections and write a business plan around a technology. They submitted their written plans by March 13, and they were judged by a panel of Oklahoma investors and business leaders. “Every time we found an answer we were looking for, even if it wasn’t necessarily what we wanted to hear, it was very rewarding to know we could figure out how to get an answer,” said Jessica Casper with SpectrumFX from the University of Tulsa. “It’s never really finished; you just have to get to a point where you are comfortable and submit the plan.”
CUP OF OPPORTUNITY The Donald W. Reynolds Governor’s Cup is all about opportunity for the next generation of Oklahoma entrepreneurs. It has been for almost a decade now. The Governor’s Cup is a collegiate business plan competition that richly rewards participants with $240,000 in cash prizes, scholarships, fellowships and the opportunity to build their entrepreneurial resumes and jumpstart their careers. This year, 160 Oklahoma college students across the state seized the opportunity to compete in the Governor’s Cup in a competition that kicked off in early February and didn’t end until the Tri-State competition in Las Vegas on May 23. The 2012 participants added their names to a Governor’s Cup legacy that now includes nearly 1,200 students from 26 campuses across Oklahoma. Since the competition launched in 2004, they have claimed cash prizes, scholarships and fellowships that total more than $1.5 million. For students who team to write and pitch a business plan in the Governor’s Cup, it is a journey filled with opportunity at every turn. Here are some of the opportunities that presented themselves along the way and what they meant to some of the student participants in the 2012 competition:
Opportunity: On Feb. 24, teams gathered at i2E’s Oklahoma City offices where they met an industry expert and discussed the business potential of their plan in an intimate interview setting. The Interview was a new step in this year’s competition, designed to allow teams to discuss their market research and gain insight that they could use to improve their written plan before submitting it for judging. The top Interview team selected by the industry experts in each of five categories won $5,000. The Interview winners and categories were: SpectrumFX, University of Tulsa, Oklahoma Business Roundtable Material Sciences and Transportation category; PERK, Rogers State University, AT&T IT/Communications Category; PristineCal, Oklahoma State University, Greater Oklahoma City Chamber Healthcare Category; MaxQ, Oklahoma State University, i2E Student Generated Category; Organic Energy, University of Oklahoma, OG&E Positive Energy and Environmental Category.
“I think this experience was awesome,” said Bill Botts, long-time investor and business executive who served as one of five industry experts. “I wish I had had the opportunity when I was a kid to do something like this. They are all impressive young people.” Opportunity: Twenty-four teams were named as semifinalists and had the opportunity to pitch their plan to a panel of potential investors in the first of two days of oral competition at the Presbyterian Health Foundation Conference Center. Twelve teams advanced to the finals round on April 14. Winners were announced April 19 at a gala Awards Dinner at the Bricktown Events Center in Oklahoma City, which was highlighted by a keynote address from Gov. Mary Fallin.
“I cannot imagine doing the Governor’s Cup without the Interview,” said Bethany Layman with Moleculera Labs from Oklahoma City University. “Being able to talk to industry experts about our plan and for them to bring up possible weaknesses and outline our strengths gave us invaluable insight to refine our plan. We took every comment to heart and reminded each other throughout the process of the pointers that we were given.” Industry experts for the Interviews were Bill Payne, i2E’s lead Entrepreneur-in-Residence from Nevada; Bill Botts, long-time investor and business executive from Nevada; Jack Anthony, a California resident who brought more than 35 years of experience of management and leadership experience with medical device and biotechnology businesses; Dr. Joel Wiggins, who directs a business incubator in Kansas, and John May, managing partner with the New Vantage Group in Virginia.
PrestineCal team member Rachel Mui from Oklahoma State University, right, receives an award from the Greater Oklahoma City Chamber’s Robin Roberts Kreiger; Pristine Cal won the Greater Oklahoma City Chamber Healthcare Category in the Interview portion of the Governor’s Cup.
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Fall 2011
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Opportunity: GovCuppers learned what it takes to conduct market research, formulate financial projections and write a business plan around a technology. They submitted their written plans by March 13, and they were judged by a panel of Oklahoma investors and business leaders. “Every time we found an answer we were looking for, even if it wasn’t necessarily what we wanted to hear, it was very rewarding to know we could figure out how to get an answer,” said Jessica Casper with SpectrumFX from the University of Tulsa. “It’s never really finished; you just have to get to a point where you are comfortable and submit the plan.”
CUP OF OPPORTUNITY The Donald W. Reynolds Governor’s Cup is all about opportunity for the next generation of Oklahoma entrepreneurs. It has been for almost a decade now. The Governor’s Cup is a collegiate business plan competition that richly rewards participants with $240,000 in cash prizes, scholarships, fellowships and the opportunity to build their entrepreneurial resumes and jumpstart their careers. This year, 160 Oklahoma college students across the state seized the opportunity to compete in the Governor’s Cup in a competition that kicked off in early February and didn’t end until the Tri-State competition in Las Vegas on May 23. The 2012 participants added their names to a Governor’s Cup legacy that now includes nearly 1,200 students from 26 campuses across Oklahoma. Since the competition launched in 2004, they have claimed cash prizes, scholarships and fellowships that total more than $1.5 million. For students who team to write and pitch a business plan in the Governor’s Cup, it is a journey filled with opportunity at every turn. Here are some of the opportunities that presented themselves along the way and what they meant to some of the student participants in the 2012 competition:
Opportunity: On Feb. 24, teams gathered at i2E’s Oklahoma City offices where they met an industry expert and discussed the business potential of their plan in an intimate interview setting. The Interview was a new step in this year’s competition, designed to allow teams to discuss their market research and gain insight that they could use to improve their written plan before submitting it for judging. The top Interview team selected by the industry experts in each of five categories won $5,000. The Interview winners and categories were: SpectrumFX, University of Tulsa, Oklahoma Business Roundtable Material Sciences and Transportation category; PERK, Rogers State University, AT&T IT/Communications Category; PristineCal, Oklahoma State University, Greater Oklahoma City Chamber Healthcare Category; MaxQ, Oklahoma State University, i2E Student Generated Category; Organic Energy, University of Oklahoma, OG&E Positive Energy and Environmental Category.
“I think this experience was awesome,” said Bill Botts, long-time investor and business executive who served as one of five industry experts. “I wish I had had the opportunity when I was a kid to do something like this. They are all impressive young people.” Opportunity: Twenty-four teams were named as semifinalists and had the opportunity to pitch their plan to a panel of potential investors in the first of two days of oral competition at the Presbyterian Health Foundation Conference Center. Twelve teams advanced to the finals round on April 14. Winners were announced April 19 at a gala Awards Dinner at the Bricktown Events Center in Oklahoma City, which was highlighted by a keynote address from Gov. Mary Fallin.
“I cannot imagine doing the Governor’s Cup without the Interview,” said Bethany Layman with Moleculera Labs from Oklahoma City University. “Being able to talk to industry experts about our plan and for them to bring up possible weaknesses and outline our strengths gave us invaluable insight to refine our plan. We took every comment to heart and reminded each other throughout the process of the pointers that we were given.” Industry experts for the Interviews were Bill Payne, i2E’s lead Entrepreneur-in-Residence from Nevada; Bill Botts, long-time investor and business executive from Nevada; Jack Anthony, a California resident who brought more than 35 years of experience of management and leadership experience with medical device and biotechnology businesses; Dr. Joel Wiggins, who directs a business incubator in Kansas, and John May, managing partner with the New Vantage Group in Virginia.
PrestineCal team member Rachel Mui from Oklahoma State University, right, receives an award from the Greater Oklahoma City Chamber’s Robin Roberts Kreiger; Pristine Cal won the Greater Oklahoma City Chamber Healthcare Category in the Interview portion of the Governor’s Cup.
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“Trust me from experience that it is well worth the effort to apply for the scholarship,” said Rocky Chavez with Organic Energy. “I’ll be using the OBR Paulsen Award scholarship to pay fall tuition.” The five students who will serve summer 2012 Fellowships were recognized at the awards dinner. i2E Fellows earn $6,000 working 10 weeks at Oklahoma startup companies on projects designed for the skills they bring to the position. i2E Fellows are: Rupesh Agrawal, MBA student at Oklahoma State University, Precision Healthcare Group; Corey Gingrich, MBA student at the University of Oklahoma, Altheus Therapeutics; Marybeth Murphy, Senior Entrepreneurship and Venture Management major at the University of Oklahoma, Mintiva; Roger Satur, MBA Student at the University of Oklahoma, WeGoLook.com; and Ekaterina Shernstneva, MBA student at the University of Tulsa, DermaMedics.
Oklahoma Chancellor for Higher Education Glen Johnson presents the Governor’s Cup trophy to the SpectrumFX team from the University of Tulsa as first place winner of the 2012 Graduate Division.
“In the oral presentations you learn to handle tough and fair questions from judges,” said Rocky Chavez, an MBA candidate at the University of Oklahoma and a winner of a $5,000 Oklahoma Business Roundtable Paulsen Award scholarship as a member of the Organic Energy team. “Those judges are respected business men and women who take time from their business schedule to help students in their entrepreneurial journey.” Winning a $20,000 cash award as first place winner in the Graduate Division was SpectrumFX from the University of Tulsa. Second place and $10,000 went to PsychSavvy, University of Tulsa, while Precision HealthTech of Oklahoma City University won $5,000 as the third place winner. “I can’t thank the sponsors of the Awards Dinner and the i2E staff enough for making it such a spectacular event,” said Amethyst Cavallaro with SpectrumFX from the University of Tulsa. “Absolutely unforgettable. My husband took a video of when they called our names, and I admit I watch it whenever I need a pick-me-up. What a rush. We all felt like celebrities.”
Winning first place and $20,000 in the Undergraduate Division was Moleculera Labs from Oklahoma City University. Second place and $10,000 went to Bright Sanitation from the University of Oklahoma, while third place and $5,000 went to SoLoKnow from the University of Tulsa. “The Awards Dinner was an amazing evening,” said Bethany Layman from Moleculera Labs. “All of the effects with the room – the screens, presenters and audience – showed that the businesses and organizations in Oklahoma think what we are doing is important. It just validated that in a very tangible way. I was sitting there when I heard our team announced thinking, ‘either I’m crazy or we won!’” Opportunity: Students competed for two $5,000 scholarships from the Oklahoma Business Roundtable and paid Fellowships this summer at entrepreneurial businesses. Winners of the OBR Paulsen Award scholarships were Rocky Chavez from the University of Oklahoma and Jay Omanson from Oklahoma State University. The OBR has now awarded $50,000 in scholarships to any campus in Oklahoma to 10 students over the past five years.
“The i2E Fellowship has opened almost every career opportunity I have had, as well as provided many contacts,” said Anthony Moorhead, a 2011 i2E Fellow. “It helped me receive an internship at the Oklahoma City Veterans Administration Medical Center because they knew I could be trusted around sensitive financial and strategic planning projects. I recently received a very competitive fellowship with the Veterans Health Administration Training Program Fellow at the Harry S. Truman VA Medical Center in Columbia, Missouri. During the interview process they made it clear that they were looking for a person who is comfortable working on different projects and understands the business environment at many different levels. All of my responses were about the i2E Fellowship.”
Opportunity: The competition offered multiple networking opportunities for students to meet Oklahoma business and community leaders, including the luncheon at the Who Wants to Be an Entrepreneur workshop back in September of last year, the reception after the semifinal round of the oral competition and the reception after the awards dinner. The networking opportunities open up unexpected avenues for students. “The Governors Cup offered a number of opportunities to network with students and professionals,” said Chuck Shirley, a member of the Golf Analytics team from Oklahoma State University. “With my participation in the Governor’s Cup I learned of i2E Fellows program, which I am now a part of. During the application and interview process for the Fellows position I was able to meet with, and interview with several executives and professionals from companies i2E has relationships with, as well as several executives within i2E.” Opportunity: Four teams, two each from Graduate and Undergraduate divisions, competed in the Tri-State competition in Las Vegas against their peers from Arkansas and Nevada. Tri-State offered networking opportunities to students to meet potential investors from across the nation. “Tri-State was so much more than a competition,” said Cary Taylor with PsychSavvy at the University of Tulsa. “It was about exposure to potential investors and building awareness in PsychSavvy. My team was approached by an investor after the awards dinner who was intrigued by my elevator pitch and invited us to participate in a technology boot camp where receiving funding is a potential outcome.”
Opportunity: One member from each oral presentation finalist team made a video-taped pitch, from which three finalists in each division were selected, earning $2,500 each. Named as pitch winners at the Awards Dinner were, Graduate Division: Stacey Brandhorst, PristineCal, Oklahoma State University; Undergraduate Division: Jaren Collins, the Dura-Guard Group, University of Oklahoma. “Preparing the pitch for the competition made me quickly and simply explain PristineCal in a way that would spark interest and leaves the more detailed company aspects for an investor meeting,” said Stacey Brandhorst, Graduate Division Pitch winner from PristineCal at Oklahoma State University. ”Most investors would rather watch a 90-second video than read an executive summary any day, so it helps us stand out. I use a variation of the pitch almost every day when someone asks ‘What do you do?’ ”
Winter 2012 i&E
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“Trust me from experience that it is well worth the effort to apply for the scholarship,” said Rocky Chavez with Organic Energy. “I’ll be using the OBR Paulsen Award scholarship to pay fall tuition.” The five students who will serve summer 2012 Fellowships were recognized at the awards dinner. i2E Fellows earn $6,000 working 10 weeks at Oklahoma startup companies on projects designed for the skills they bring to the position. i2E Fellows are: Rupesh Agrawal, MBA student at Oklahoma State University, Precision Healthcare Group; Corey Gingrich, MBA student at the University of Oklahoma, Altheus Therapeutics; Marybeth Murphy, Senior Entrepreneurship and Venture Management major at the University of Oklahoma, Mintiva; Roger Satur, MBA Student at the University of Oklahoma, WeGoLook.com; and Ekaterina Shernstneva, MBA student at the University of Tulsa, DermaMedics.
Oklahoma Chancellor for Higher Education Glen Johnson presents the Governor’s Cup trophy to the SpectrumFX team from the University of Tulsa as first place winner of the 2012 Graduate Division.
“In the oral presentations you learn to handle tough and fair questions from judges,” said Rocky Chavez, an MBA candidate at the University of Oklahoma and a winner of a $5,000 Oklahoma Business Roundtable Paulsen Award scholarship as a member of the Organic Energy team. “Those judges are respected business men and women who take time from their business schedule to help students in their entrepreneurial journey.” Winning a $20,000 cash award as first place winner in the Graduate Division was SpectrumFX from the University of Tulsa. Second place and $10,000 went to PsychSavvy, University of Tulsa, while Precision HealthTech of Oklahoma City University won $5,000 as the third place winner. “I can’t thank the sponsors of the Awards Dinner and the i2E staff enough for making it such a spectacular event,” said Amethyst Cavallaro with SpectrumFX from the University of Tulsa. “Absolutely unforgettable. My husband took a video of when they called our names, and I admit I watch it whenever I need a pick-me-up. What a rush. We all felt like celebrities.”
Winning first place and $20,000 in the Undergraduate Division was Moleculera Labs from Oklahoma City University. Second place and $10,000 went to Bright Sanitation from the University of Oklahoma, while third place and $5,000 went to SoLoKnow from the University of Tulsa. “The Awards Dinner was an amazing evening,” said Bethany Layman from Moleculera Labs. “All of the effects with the room – the screens, presenters and audience – showed that the businesses and organizations in Oklahoma think what we are doing is important. It just validated that in a very tangible way. I was sitting there when I heard our team announced thinking, ‘either I’m crazy or we won!’” Opportunity: Students competed for two $5,000 scholarships from the Oklahoma Business Roundtable and paid Fellowships this summer at entrepreneurial businesses. Winners of the OBR Paulsen Award scholarships were Rocky Chavez from the University of Oklahoma and Jay Omanson from Oklahoma State University. The OBR has now awarded $50,000 in scholarships to any campus in Oklahoma to 10 students over the past five years.
“The i2E Fellowship has opened almost every career opportunity I have had, as well as provided many contacts,” said Anthony Moorhead, a 2011 i2E Fellow. “It helped me receive an internship at the Oklahoma City Veterans Administration Medical Center because they knew I could be trusted around sensitive financial and strategic planning projects. I recently received a very competitive fellowship with the Veterans Health Administration Training Program Fellow at the Harry S. Truman VA Medical Center in Columbia, Missouri. During the interview process they made it clear that they were looking for a person who is comfortable working on different projects and understands the business environment at many different levels. All of my responses were about the i2E Fellowship.”
Opportunity: The competition offered multiple networking opportunities for students to meet Oklahoma business and community leaders, including the luncheon at the Who Wants to Be an Entrepreneur workshop back in September of last year, the reception after the semifinal round of the oral competition and the reception after the awards dinner. The networking opportunities open up unexpected avenues for students. “The Governors Cup offered a number of opportunities to network with students and professionals,” said Chuck Shirley, a member of the Golf Analytics team from Oklahoma State University. “With my participation in the Governor’s Cup I learned of i2E Fellows program, which I am now a part of. During the application and interview process for the Fellows position I was able to meet with, and interview with several executives and professionals from companies i2E has relationships with, as well as several executives within i2E.” Opportunity: Four teams, two each from Graduate and Undergraduate divisions, competed in the Tri-State competition in Las Vegas against their peers from Arkansas and Nevada. Tri-State offered networking opportunities to students to meet potential investors from across the nation. “Tri-State was so much more than a competition,” said Cary Taylor with PsychSavvy at the University of Tulsa. “It was about exposure to potential investors and building awareness in PsychSavvy. My team was approached by an investor after the awards dinner who was intrigued by my elevator pitch and invited us to participate in a technology boot camp where receiving funding is a potential outcome.”
Opportunity: One member from each oral presentation finalist team made a video-taped pitch, from which three finalists in each division were selected, earning $2,500 each. Named as pitch winners at the Awards Dinner were, Graduate Division: Stacey Brandhorst, PristineCal, Oklahoma State University; Undergraduate Division: Jaren Collins, the Dura-Guard Group, University of Oklahoma. “Preparing the pitch for the competition made me quickly and simply explain PristineCal in a way that would spark interest and leaves the more detailed company aspects for an investor meeting,” said Stacey Brandhorst, Graduate Division Pitch winner from PristineCal at Oklahoma State University. ”Most investors would rather watch a 90-second video than read an executive summary any day, so it helps us stand out. I use a variation of the pitch almost every day when someone asks ‘What do you do?’ ”
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The Governor’s Cup competition is open to student teams from any college campus in Oklahoma. Students select a technology or create their own, write a business plan around it and then pitch it before a panel of business, investment and community leaders. The competition is underwritten by the Donald W. Reynolds Foundation and more than two dozen local sponsors. It is managed by i2E, Inc. “This competition grows and improves each year,” said Tom Walker, President and CEO of i2E. “The students who write and pitch the business plans and their advisors continually raise the bar in terms of the quality of their work and the business opportunities they present.” i2E receives funding from a variety of federal, state and private sources, including the federal Economic Development Administration, the Oklahoma Center for the Advancement of Science and Technology, the Greater Oklahoma City Chamber, the City of Oklahoma City, the Oklahoma Medical Research Foundation, the Presbyterian Health Foundation and the Oklahoma Business Roundtable. The 2012 Governor’s Cup competition definitely was all about opportunity. It was answered with resounding success by a class of future entrepreneurs prepared to take their place as leaders of Oklahoma’s business community.
“Because of the Governor’s Cup, I now have a team that I want to work with in starting a new venture. I might not have ever done it on my own, but having such a great support system, with such unique and diverse skills is an incredible asset and I can’t wait to see what the future holds for us.” – Jessica Casper SpectrumFX University of Tulsa
Entrepreneurship on Campus
Since the competition began in 2006, 22 colleges and universities have either implemented entrepreneurial degree programs or added entrepreneurship courses to their business degree programs. Some have designed coursework to match requirements of the Governor’s Cup competition. In addition, some colleges have launched outreach programs that include entrepreneurship centers and business incubators as a way to serve the community and provide continuing educational opportunities. For instance, Rogers State University in Claremore operates the Innovation Center that offers incubator space and expertise to new entrepreneurs. While a student in a University of Oklahoma physical therapy class, Jeremy Green was challenged to improve the rehabilitation experience of patients recovering from injuries or surgery. He came up with the idea of video-based exercise instruction to replace the rudimentary stick-figure drawings normally sent home with patients. A business was born. But Jeremy’s new venture – Real Time Rehab – needed a physical location. And Jeremy needed expert advice in putting together a new business. In stepped the Innovation Center on the Rogers State campus. Through a relationship that Jeremy already had with Jeri Koehler, a Business Development Specialist at the Center, the business incubator soon became the home of Real Time Rehab for the next three years. “We needed help,” Jeremy said. “Not only did they help us find those services we needed, the programmers and developers, they taught us ways to save money. They helped us develop a strategy and 16
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also showed us what our strengths and weaknesses were and where we needed help.” Across Oklahoma, the state’s universities offer help to entrepreneurs in a variety of ways, whether it is through special centers like that at Rogers State, short-term workshops or courses specially designed to provide education needed to help grow a business from startup to maturity. Large state universities such as Oklahoma State University and the University of Oklahoma offer extensive academic degree programs in entrepreneurship and community outreach efforts that extend far beyond their campuses. The Center for Emerging Technology and Entrepreneurial Studies (CETES) at Cameron University in Lawton, for instance, reached out to the entrepreneurs in eight southwestern Oklahoma counties with an educational program called Project DREAM – Developing Regional Entrepreneurism Mentors. At East Central University in Ada, the school offers a business administration degree with a concentration in entrepreneurship, as well as a certificate program in entrepreneurship. “We have about 20 majors a year right now who graduate from that program,” said Wendell Godwin, Dean of ECU’s College of Business. “It’s one of two programs we have where we are definitely putting our future funding and making changes. There is lots of demand out there, probably more demand than we realized.” Other programs have embraced entrepreneurship, as well. The University of Central Oklahoma named Dr. Peter Abramo to the Barnabas Endowed Lectureship in Entrepreneurship chair, and also offers a two-course sequence specifically designed to prepare students for the Governor’s Cup. Meanwhile, the University of Tulsa operates the International Business and Entrepreneurship Institute on campus and also offers Entrepreneurship and Family Business Management Specialization as a degree track for undergraduate business management majors. And Tulsa Community College’s Launch Program takes entrepreneurs with an idea through the critical steps of starting a business in a 16-week program. It’s clear that the Governor’s Cup planted a seed of entrepreneurship that is growing on college campuses across the state through courses, degree programs and outreach efforts.
i2E’s Kenneth Knoll speaks to students attending the Business Week Summer Camp at East Central University on the subject of entrepreneurship.
The Governor’s Cup competition is open to student teams from any college campus in Oklahoma. Students select a technology or create their own, write a business plan around it and then pitch it before a panel of business, investment and community leaders. The competition is underwritten by the Donald W. Reynolds Foundation and more than two dozen local sponsors. It is managed by i2E, Inc. “This competition grows and improves each year,” said Tom Walker, President and CEO of i2E. “The students who write and pitch the business plans and their advisors continually raise the bar in terms of the quality of their work and the business opportunities they present.” i2E receives funding from a variety of federal, state and private sources, including the federal Economic Development Administration, the Oklahoma Center for the Advancement of Science and Technology, the Greater Oklahoma City Chamber, the City of Oklahoma City, the Oklahoma Medical Research Foundation, the Presbyterian Health Foundation and the Oklahoma Business Roundtable. The 2012 Governor’s Cup competition definitely was all about opportunity. It was answered with resounding success by a class of future entrepreneurs prepared to take their place as leaders of Oklahoma’s business community.
“Because of the Governor’s Cup, I now have a team that I want to work with in starting a new venture. I might not have ever done it on my own, but having such a great support system, with such unique and diverse skills is an incredible asset and I can’t wait to see what the future holds for us.” – Jessica Casper SpectrumFX University of Tulsa
Entrepreneurship on Campus
Since the competition began in 2006, 22 colleges and universities have either implemented entrepreneurial degree programs or added entrepreneurship courses to their business degree programs. Some have designed coursework to match requirements of the Governor’s Cup competition. In addition, some colleges have launched outreach programs that include entrepreneurship centers and business incubators as a way to serve the community and provide continuing educational opportunities. For instance, Rogers State University in Claremore operates the Innovation Center that offers incubator space and expertise to new entrepreneurs. While a student in a University of Oklahoma physical therapy class, Jeremy Green was challenged to improve the rehabilitation experience of patients recovering from injuries or surgery. He came up with the idea of video-based exercise instruction to replace the rudimentary stick-figure drawings normally sent home with patients. A business was born. But Jeremy’s new venture – Real Time Rehab – needed a physical location. And Jeremy needed expert advice in putting together a new business. In stepped the Innovation Center on the Rogers State campus. Through a relationship that Jeremy already had with Jeri Koehler, a Business Development Specialist at the Center, the business incubator soon became the home of Real Time Rehab for the next three years. “We needed help,” Jeremy said. “Not only did they help us find those services we needed, the programmers and developers, they taught us ways to save money. They helped us develop a strategy and 16
i&E
Summer 2012
also showed us what our strengths and weaknesses were and where we needed help.” Across Oklahoma, the state’s universities offer help to entrepreneurs in a variety of ways, whether it is through special centers like that at Rogers State, short-term workshops or courses specially designed to provide education needed to help grow a business from startup to maturity. Large state universities such as Oklahoma State University and the University of Oklahoma offer extensive academic degree programs in entrepreneurship and community outreach efforts that extend far beyond their campuses. The Center for Emerging Technology and Entrepreneurial Studies (CETES) at Cameron University in Lawton, for instance, reached out to the entrepreneurs in eight southwestern Oklahoma counties with an educational program called Project DREAM – Developing Regional Entrepreneurism Mentors. At East Central University in Ada, the school offers a business administration degree with a concentration in entrepreneurship, as well as a certificate program in entrepreneurship. “We have about 20 majors a year right now who graduate from that program,” said Wendell Godwin, Dean of ECU’s College of Business. “It’s one of two programs we have where we are definitely putting our future funding and making changes. There is lots of demand out there, probably more demand than we realized.” Other programs have embraced entrepreneurship, as well. The University of Central Oklahoma named Dr. Peter Abramo to the Barnabas Endowed Lectureship in Entrepreneurship chair, and also offers a two-course sequence specifically designed to prepare students for the Governor’s Cup. Meanwhile, the University of Tulsa operates the International Business and Entrepreneurship Institute on campus and also offers Entrepreneurship and Family Business Management Specialization as a degree track for undergraduate business management majors. And Tulsa Community College’s Launch Program takes entrepreneurs with an idea through the critical steps of starting a business in a 16-week program. It’s clear that the Governor’s Cup planted a seed of entrepreneurship that is growing on college campuses across the state through courses, degree programs and outreach efforts.
i2E’s Kenneth Knoll speaks to students attending the Business Week Summer Camp at East Central University on the subject of entrepreneurship.
ENTREPRENEURSHIP PROGRAMS AT OKLAHOMA COLLEGES AND UNIVERSITIES PUBLIC COLLEGES & UNIVERSITIES
SEMINOLE STATE UNIVERSITY
UNIVERSITY OF OKLAHOMA
OKLAHOMA CITY UNIVERSITY OKC
SEMINOLE
NORMAN
OCU operates the Love’s Entrepreneur-
Offers an Associate of Applied Science
OU offers extensive academic and out-
ship Center on campus and also offers
in Business degree with an option in En-
reach efforts in the area of entrepreneur-
courses called Entrepreneurial Environ-
trepreneurship.
ship. OU’s Price College of Business
ment and Entrepreneurial Process for
operates the Center for Entrepreneur-
business majors.
SOUTHEASTERN OKLAHOMA STATE
ship and offers both undergraduate and
UNIVERSITY DURANT
graduate degrees in entrepreneurship.
OKLAHOMA WESLEYAN UNIVERSITY
Through its division of Management
BARTLESVILLE
CAMERON UNIVERSITY LAWTON
NORTHEASTERN STATE UNIVERSITY
OKLAHOMA STATE UNIVERSITY
Southeastern operates the Center for
Cameron University in partnership
TAHLEQUAH
STILLWATER
Entrepreneurship and also offers a senior
and Entrepreneurship, OU offers a mi-
The university offers a small business
nor in Entrepreneurship, bachelor’s in
management course.
Entrepreneurship and Venture Manage-
with other agencies offers the Proj-
Business students at Northeastern State
OSU offers one of the most compre-
level course called Entrepreneurship &
ect DREAM, which is geared toward
University in Tahlequah have the oppor-
hensive entrepreneurship programs in
New Ventures.
entrepreneurship education in eight
tunity to earn a bachelor’s degree in En-
the state through its undergraduate
counties in the southwestern region of
trepreneurship. The program provides
and graduate degree programs at its
ment, an MBA with a concentration in
ORAL ROBERTS UNIVERSITY TULSA
SOUTHWESTERN OKLAHOMA STATE
Entrepreneurship and a Ph.D. program
ORU offers an Entrepreneurship concen-
in Entrepreneurship. OU also operates
tration for all of its business majors, both graduate and undergraduate.
Oklahoma, including Caddo, Coman-
detailed attention to the entrepreneurial
School for Entrepreneurship, as well
UNIVERSITY WEATHERFORD
che, Cotton, Jackson, Jefferson, Kiowa,
process: the concepts, skills, know-how
as the Riata Center for Entrepreneur-
Southwestern offers a bachelor’s degree
the Center for the Creation of Economic
and know-who, information, attitudes,
ship. The School for Entrepreneurship
in Entrepreneurship and also operates
Wealth (CCEW), which provides oppor-
alternatives and resources that entrepre-
offers a minor in entrepreneurship for
the Western Oklahoma Business Com-
tunities for students to partner with OU
SOUTHERN NAZARENE UNIVERSITY
non-business students, a minor in en-
mercialization Center in Weatherford.
researchers and private sector mentors
BETHANY
to develop business plans and marketing
As part of its MBA program, SNU offers
strategies for early-state technologies.
a two-night Management Seminar that
Stephens and Tillman. EAST CENTRAL UNIVERSITY ADA
neurs need.
East Central offers an Entrepreneur-
trepreneurship for business students,
ship Concentration degree program for
NORTHERN OKLAHOMA COLLEGE
a major in entrepreneurship, an MBA
TULSA COMMUNITY COLLEGE TULSA
undergraduate Business Administration
TONKAWA
concentration in entrepreneurship, and
Tulsa Community College’s Launch proWESTERN OKLAHOMA STATE
focuses on Entrepreneurship.
majors. In addition, the Center for Entre-
Northern Oklahoma College offers an Asso-
a Ph.D. program in entrepreneurship.
gram takes entrepreneurs with an idea
preneurship at ECU was created with a
ciate of Applied Science Degree in Business
The Riata Center promotes entrepre-
through the critical steps of starting a
UNIVERSITY ALTUS
SOUTHWESTERN CHRISTIAN
neurship throughout the state through a
business in 16 weeks. Individuals with an
WOSC offers the AA/AS in Enterprise
UNIVERSITY OKLAHOMA CITY
variety of innovative outreach programs
idea for a new business can submit them
Development degrees through the
The university offers Entrepreneurship as
Reach Higher program.
a senior level course for Business Man-
mission to grow entrepreneurs. The Cen-
Management-Entrepreneurship Option.
ter sponsors an annual business plan competition for ECU students and has
NORTHWESTERN OKLAHOMA
such as entrepreneur “boot camps” in
online at www.launchyourejourney.com.
formed an Angel Network that mentors
STATE UNIVERSITY ALVA
Oklahoma City and Tulsa and an annual
Tulsa Community College is also one of
the competition winners. ECU also offers
Northwestern offers two courses on
conference for women entrepreneurs in
the sponsors for Tulsa’s annual Global
an Oklahoma Business Week summer
entrepreneurship for undergraduate
Oklahoma City.
Entrepreneurship Week events.
camp for high school students who have
business students, including Principles
completed the 10 and 11 grades.
of Entrepreneurship and Advanced En-
th
th
trepreneurship. LANGSTON UNIVERSITY LANGSTON
agement majors. ST. GREGORY’S UNIVERSITY SHAWNEE
ROGERS STATE UNIVERSITY
UNIVERSITY OF CENTRAL OKLAHOMA
BACONE COLLEGE MUSKOGEE
St. Gregory’s requires all of its senior
CLAREMORE
EDMOND
Bacone offers a course called Entrepre-
business majors to develop a business
Rogers State offers an entrepreneurship
The UCO College of Business oversees
neurial Decision Making.
plan in a capstone project.
Langston offers a Master of Entrepre-
OKLAHOMA CITY COMMUNITY
track as one of its areas of concentra-
a two course sequence (Practicum in
neurial Studies degree.
COLLEGE OKC
tion for undergraduate business majors,
Strategic Management and New Ven-
DEVRY UNIVERSITY OKLAHOMA CITY
UNIVERSITY OF PHOENIX
OCCC offers a course called Entrepre-
and also operates the Innovation Center
ture Presentation), designed to prepare
Devry offers an undergraduate degree
OKLAHOMA CITY AND TULSA
neurship as a 3-hour credit class in its
on campus. The Innovation Center pro-
students for the Donald W. Reynolds
in Business with a specialization in Small
University of Phoenix offers an under-
vides business counseling and training
Governor’s Cup competition. In addition,
Business Management and Entrepre-
graduate business degree with a concen-
for area entrepreneurs and expanding
the Management Department offers
neurship.
tration in small business management
NORTHEASTERN A&M COLLEGE MIAMI
business curriculum.
Northeastern A&M offers an Associates of Applied Science Business Administra-
OKLAHOMA PANHANDLE STATE
businesses throughout northeastern
two undergraduate business courses: 1)
tion Technology with an option in Entre-
UNIVERSITY GOODWELL
Oklahoma.
“Starting Your Own Business,” and 2)
OKLAHOMA CHRISTIAN UNIVERSITY
“Entrepreneurship in the 21st Century.”
OKLAHOMA CITY
UNIVERSITY OF TULSA TULSA
ROSE STATE COLLEGE MIDWEST CITY
UCO operates the UCO Small Business
OC offers a junior/senior level course
TU operates the International Business
in Business Administration degrees that
Rose State offers a “Small Business
Development Center with locations in
called Entrepreneurship and Small Busi-
and Entrepreneurship Institute on cam-
teach concepts of entrepreneurship in
Option” Associate in Applied Science
Oklahoma City, Edmond, and Norman.
ness Management.
pus. It also offers Entrepreneurship and
degree.
The UCO SBDC in downtown Oklahoma
Family Business Management Specializa-
primary focus of capstone courses in
City also houses “The Catbird Seat,”
tion as a degree track for undergraduate
Small Business Management and Strate-
which provides space, training, and ac-
business management majors.
gic Management.
cess to UCO SBDC consulting.
preneurship and a continuing education
OPSU has both Bachelors of Business
certificate for business owners, manag-
Administration and Associate of Science
ers and supervisors.
several courses. Entrepreneurship is the
and entrepreneurship.
* Data collected in partnership with the Oklahoma State Regents for Higher Education
18
i&E
Summer 2012
Summer 2012 i&E
19
ENTREPRENEURSHIP PROGRAMS AT OKLAHOMA COLLEGES AND UNIVERSITIES PUBLIC COLLEGES & UNIVERSITIES
SEMINOLE STATE UNIVERSITY
UNIVERSITY OF OKLAHOMA
OKLAHOMA CITY UNIVERSITY OKC
SEMINOLE
NORMAN
OCU operates the Love’s Entrepreneur-
Offers an Associate of Applied Science
OU offers extensive academic and out-
ship Center on campus and also offers
in Business degree with an option in En-
reach efforts in the area of entrepreneur-
courses called Entrepreneurial Environ-
trepreneurship.
ship. OU’s Price College of Business
ment and Entrepreneurial Process for
operates the Center for Entrepreneur-
business majors.
SOUTHEASTERN OKLAHOMA STATE
ship and offers both undergraduate and
UNIVERSITY DURANT
graduate degrees in entrepreneurship.
OKLAHOMA WESLEYAN UNIVERSITY
Through its division of Management
BARTLESVILLE
CAMERON UNIVERSITY LAWTON
NORTHEASTERN STATE UNIVERSITY
OKLAHOMA STATE UNIVERSITY
Southeastern operates the Center for
Cameron University in partnership
TAHLEQUAH
STILLWATER
Entrepreneurship and also offers a senior
and Entrepreneurship, OU offers a mi-
The university offers a small business
nor in Entrepreneurship, bachelor’s in
management course.
Entrepreneurship and Venture Manage-
with other agencies offers the Proj-
Business students at Northeastern State
OSU offers one of the most compre-
level course called Entrepreneurship &
ect DREAM, which is geared toward
University in Tahlequah have the oppor-
hensive entrepreneurship programs in
New Ventures.
entrepreneurship education in eight
tunity to earn a bachelor’s degree in En-
the state through its undergraduate
counties in the southwestern region of
trepreneurship. The program provides
and graduate degree programs at its
ment, an MBA with a concentration in
ORAL ROBERTS UNIVERSITY TULSA
SOUTHWESTERN OKLAHOMA STATE
Entrepreneurship and a Ph.D. program
ORU offers an Entrepreneurship concen-
in Entrepreneurship. OU also operates
tration for all of its business majors, both graduate and undergraduate.
Oklahoma, including Caddo, Coman-
detailed attention to the entrepreneurial
School for Entrepreneurship, as well
UNIVERSITY WEATHERFORD
che, Cotton, Jackson, Jefferson, Kiowa,
process: the concepts, skills, know-how
as the Riata Center for Entrepreneur-
Southwestern offers a bachelor’s degree
the Center for the Creation of Economic
and know-who, information, attitudes,
ship. The School for Entrepreneurship
in Entrepreneurship and also operates
Wealth (CCEW), which provides oppor-
alternatives and resources that entrepre-
offers a minor in entrepreneurship for
the Western Oklahoma Business Com-
tunities for students to partner with OU
SOUTHERN NAZARENE UNIVERSITY
non-business students, a minor in en-
mercialization Center in Weatherford.
researchers and private sector mentors
BETHANY
to develop business plans and marketing
As part of its MBA program, SNU offers
strategies for early-state technologies.
a two-night Management Seminar that
Stephens and Tillman. EAST CENTRAL UNIVERSITY ADA
neurs need.
East Central offers an Entrepreneur-
trepreneurship for business students,
ship Concentration degree program for
NORTHERN OKLAHOMA COLLEGE
a major in entrepreneurship, an MBA
TULSA COMMUNITY COLLEGE TULSA
undergraduate Business Administration
TONKAWA
concentration in entrepreneurship, and
Tulsa Community College’s Launch proWESTERN OKLAHOMA STATE
focuses on Entrepreneurship.
majors. In addition, the Center for Entre-
Northern Oklahoma College offers an Asso-
a Ph.D. program in entrepreneurship.
gram takes entrepreneurs with an idea
preneurship at ECU was created with a
ciate of Applied Science Degree in Business
The Riata Center promotes entrepre-
through the critical steps of starting a
UNIVERSITY ALTUS
SOUTHWESTERN CHRISTIAN
neurship throughout the state through a
business in 16 weeks. Individuals with an
WOSC offers the AA/AS in Enterprise
UNIVERSITY OKLAHOMA CITY
variety of innovative outreach programs
idea for a new business can submit them
Development degrees through the
The university offers Entrepreneurship as
Reach Higher program.
a senior level course for Business Man-
mission to grow entrepreneurs. The Cen-
Management-Entrepreneurship Option.
ter sponsors an annual business plan competition for ECU students and has
NORTHWESTERN OKLAHOMA
such as entrepreneur “boot camps” in
online at www.launchyourejourney.com.
formed an Angel Network that mentors
STATE UNIVERSITY ALVA
Oklahoma City and Tulsa and an annual
Tulsa Community College is also one of
the competition winners. ECU also offers
Northwestern offers two courses on
conference for women entrepreneurs in
the sponsors for Tulsa’s annual Global
an Oklahoma Business Week summer
entrepreneurship for undergraduate
Oklahoma City.
Entrepreneurship Week events.
camp for high school students who have
business students, including Principles
completed the 10 and 11 grades.
of Entrepreneurship and Advanced En-
th
th
trepreneurship. LANGSTON UNIVERSITY LANGSTON
agement majors. ST. GREGORY’S UNIVERSITY SHAWNEE
ROGERS STATE UNIVERSITY
UNIVERSITY OF CENTRAL OKLAHOMA
BACONE COLLEGE MUSKOGEE
St. Gregory’s requires all of its senior
CLAREMORE
EDMOND
Bacone offers a course called Entrepre-
business majors to develop a business
Rogers State offers an entrepreneurship
The UCO College of Business oversees
neurial Decision Making.
plan in a capstone project.
Langston offers a Master of Entrepre-
OKLAHOMA CITY COMMUNITY
track as one of its areas of concentra-
a two course sequence (Practicum in
neurial Studies degree.
COLLEGE OKC
tion for undergraduate business majors,
Strategic Management and New Ven-
DEVRY UNIVERSITY OKLAHOMA CITY
UNIVERSITY OF PHOENIX
OCCC offers a course called Entrepre-
and also operates the Innovation Center
ture Presentation), designed to prepare
Devry offers an undergraduate degree
OKLAHOMA CITY AND TULSA
neurship as a 3-hour credit class in its
on campus. The Innovation Center pro-
students for the Donald W. Reynolds
in Business with a specialization in Small
University of Phoenix offers an under-
vides business counseling and training
Governor’s Cup competition. In addition,
Business Management and Entrepre-
graduate business degree with a concen-
for area entrepreneurs and expanding
the Management Department offers
neurship.
tration in small business management
NORTHEASTERN A&M COLLEGE MIAMI
business curriculum.
Northeastern A&M offers an Associates of Applied Science Business Administra-
OKLAHOMA PANHANDLE STATE
businesses throughout northeastern
two undergraduate business courses: 1)
tion Technology with an option in Entre-
UNIVERSITY GOODWELL
Oklahoma.
“Starting Your Own Business,” and 2)
OKLAHOMA CHRISTIAN UNIVERSITY
“Entrepreneurship in the 21st Century.”
OKLAHOMA CITY
UNIVERSITY OF TULSA TULSA
ROSE STATE COLLEGE MIDWEST CITY
UCO operates the UCO Small Business
OC offers a junior/senior level course
TU operates the International Business
in Business Administration degrees that
Rose State offers a “Small Business
Development Center with locations in
called Entrepreneurship and Small Busi-
and Entrepreneurship Institute on cam-
teach concepts of entrepreneurship in
Option” Associate in Applied Science
Oklahoma City, Edmond, and Norman.
ness Management.
pus. It also offers Entrepreneurship and
degree.
The UCO SBDC in downtown Oklahoma
Family Business Management Specializa-
primary focus of capstone courses in
City also houses “The Catbird Seat,”
tion as a degree track for undergraduate
Small Business Management and Strate-
which provides space, training, and ac-
business management majors.
gic Management.
cess to UCO SBDC consulting.
preneurship and a continuing education
OPSU has both Bachelors of Business
certificate for business owners, manag-
Administration and Associate of Science
ers and supervisors.
several courses. Entrepreneurship is the
and entrepreneurship.
* Data collected in partnership with the Oklahoma State Regents for Higher Education
18
i&E
Summer 2012
Summer 2012 i&E
19
Williams, President of the Greater Oklahoma City Chamber
are some great staff people on the payroll at i2E. Those great
and Chairman of the i2E Board of Directors during Walker’s
people didn’t just wander in off the street.”
tenure as CEO. “His expertise combined with his tenacity has
evolved i2E into a premier national leader in entrepreneurial
der Walker’s leadership, i2E has worked closely, sharing both
initiatives in central Oklahoma.
resources and people with other organizations, such as the
“He has been a tremendous asset to i2E and to Oklahoma.”
Greater Oklahoma City Chamber, OKBio Association, Okla-
The Tom Walker era ends at i2E at the end of July when
homa Medical Research Foundation and others.
The i2E “team” extends beyond the company itself. Un-
he takes on a new mission as CEO of TechColumbus, which recruited him to bring his innovative, business building concepts to Ohio. i2E Vice President of Operations Rex Smitherman was named interim CEO while the i2E Board of Directors conducts a national search for a permanent successor.
Walker’s move to Ohio will be deeply felt by not only i2E,
but by colleagues and friends throughout the state, said Tulsa’s Roy Peters, former President of the Oklahoma Manufac-
Legacy of Innovation
Tom Walker’s influence on Oklahoma innovators and entrepreneurs will continue long after his departure from i2E
turing Alliance.
“He’s just an exceptional young man, and certainly a great
asset not just to i2E, but to economic development and to individual entrepreneurs in Oklahoma,” Peters said. “He has a terrific academic background both as an engineer and MBA and is a good learner to this day. My wife, Barbara, and I are going to miss him immensely.”
In his four years as CEO, i2E developed new sources of
capital that included private, state and federal partners. New entrepreneurial development programs were implemented.
Key team members were put in place.
whether he gets the credit for it or not,” said Mike LaBrie,
“Tom is about getting the mission done, regardless of
an Oklahoma City attorney and member of the i2E Board of Directors. “In fact, I think he doesn’t care who gets credit for There’s been one constant at i2E over the past 14 years.
“Randy knew that Tom had a very bright light, and he
any specific thing; it’s all about the mission. I think it is a skill
Tom Walker.
was able to capitalize on how well Tom brought things to-
set that he has, a very unselfish skill set that has made him so
i2E was founded in 1998 to manage a state-funded pro-
gether and had the rapport with the staff that he did,” Lami-
effective as the leader at i2E.”
gram that provided business expertise and proof-of-concept
rand said. “Tom was so confident and saw the big picture,
capital to Oklahoma’s technology-based entrepreneurs.
and that’s something that he’s been good at forever.”
Board of Directors: “Tom is great at selecting and developing
20
i&E
Randy Goldsmith was named as
Walker spearheaded i2E’s Tulsa
chief executive officer of the new
office expansion, building deep
not-for-profit corporation that be-
relationships in that city and estab-
gan operating under the name
lishing i2E as a true statewide eco-
Oklahoma Technology Commer-
nomic development force. He was
cialization Center.
named President and CEO in 2008,
succeeding Greg Main.
Goldsmith quickly set his sights
people….from board members to employees to community supporters.”
on a young engineer who was an
“Tom has been absolutely won-
Oklahoma native, possessed an
derful for us,” Lamirand said. “He’s
MBA and a gift for honing in on the
grown the organization, and he’s
details of a job. Tom Walker was
grown with it.”
hired as i2E’s first Director of Com-
As CEO, Walker launched a se-
ativity and skill set to make that vision a reality,” said Howard
mercialization Services and was named Chief Operating Of-
ries of bold, innovative initiatives that expanded the sources
Barnett, President of Oklahoma State University-Tulsa and in-
ficer in 2003.
of capital offered to Oklahoma entrepreneurs, provided new
coming Chairman of the i2E Board of Directors.
venture advisory services to startups and created a reputa-
innovative ideas to advance its mission, Walker was the perfect
tion for innovation that has been emulated nationwide.
again by people both inside and outside of the i2E organiza-
fit, said Hershel Lamirand, a founding member of the i2E Board
tion who were interviewed for this story.
of Directors and CEO of the Oklahoma Health Foundation.
into a major entrepreneurial force in Oklahoma,” said Roy
For a new company that needed strong relationships and
Summer 2012
“Tom moved i2E from a small commercialization entity
Added Bob Craine, a Tulsa-based member of the i2E
“Tom had a vision of what we could be and then the cre-
Walker’s gift for team building was recognized again and
“Look up and down your hallway,” Peters said. “There
Continued on page 33 Summer 2012 i&E
21
Williams, President of the Greater Oklahoma City Chamber
are some great staff people on the payroll at i2E. Those great
and Chairman of the i2E Board of Directors during Walker’s
people didn’t just wander in off the street.”
tenure as CEO. “His expertise combined with his tenacity has
evolved i2E into a premier national leader in entrepreneurial
der Walker’s leadership, i2E has worked closely, sharing both
initiatives in central Oklahoma.
resources and people with other organizations, such as the
“He has been a tremendous asset to i2E and to Oklahoma.”
Greater Oklahoma City Chamber, OKBio Association, Okla-
The Tom Walker era ends at i2E at the end of July when
homa Medical Research Foundation and others.
The i2E “team” extends beyond the company itself. Un-
he takes on a new mission as CEO of TechColumbus, which recruited him to bring his innovative, business building concepts to Ohio. i2E Vice President of Operations Rex Smitherman was named interim CEO while the i2E Board of Directors conducts a national search for a permanent successor.
Walker’s move to Ohio will be deeply felt by not only i2E,
but by colleagues and friends throughout the state, said Tulsa’s Roy Peters, former President of the Oklahoma Manufac-
Legacy of Innovation
Tom Walker’s influence on Oklahoma innovators and entrepreneurs will continue long after his departure from i2E
turing Alliance.
“He’s just an exceptional young man, and certainly a great
asset not just to i2E, but to economic development and to individual entrepreneurs in Oklahoma,” Peters said. “He has a terrific academic background both as an engineer and MBA and is a good learner to this day. My wife, Barbara, and I are going to miss him immensely.”
In his four years as CEO, i2E developed new sources of
capital that included private, state and federal partners. New entrepreneurial development programs were implemented.
Key team members were put in place.
whether he gets the credit for it or not,” said Mike LaBrie,
“Tom is about getting the mission done, regardless of
an Oklahoma City attorney and member of the i2E Board of Directors. “In fact, I think he doesn’t care who gets credit for There’s been one constant at i2E over the past 14 years.
“Randy knew that Tom had a very bright light, and he
any specific thing; it’s all about the mission. I think it is a skill
Tom Walker.
was able to capitalize on how well Tom brought things to-
set that he has, a very unselfish skill set that has made him so
i2E was founded in 1998 to manage a state-funded pro-
gether and had the rapport with the staff that he did,” Lami-
effective as the leader at i2E.”
gram that provided business expertise and proof-of-concept
rand said. “Tom was so confident and saw the big picture,
capital to Oklahoma’s technology-based entrepreneurs.
and that’s something that he’s been good at forever.”
Board of Directors: “Tom is great at selecting and developing
20
i&E
Randy Goldsmith was named as
Walker spearheaded i2E’s Tulsa
chief executive officer of the new
office expansion, building deep
not-for-profit corporation that be-
relationships in that city and estab-
gan operating under the name
lishing i2E as a true statewide eco-
Oklahoma Technology Commer-
nomic development force. He was
cialization Center.
named President and CEO in 2008,
succeeding Greg Main.
Goldsmith quickly set his sights
people….from board members to employees to community supporters.”
on a young engineer who was an
“Tom has been absolutely won-
Oklahoma native, possessed an
derful for us,” Lamirand said. “He’s
MBA and a gift for honing in on the
grown the organization, and he’s
details of a job. Tom Walker was
grown with it.”
hired as i2E’s first Director of Com-
As CEO, Walker launched a se-
ativity and skill set to make that vision a reality,” said Howard
mercialization Services and was named Chief Operating Of-
ries of bold, innovative initiatives that expanded the sources
Barnett, President of Oklahoma State University-Tulsa and in-
ficer in 2003.
of capital offered to Oklahoma entrepreneurs, provided new
coming Chairman of the i2E Board of Directors.
venture advisory services to startups and created a reputa-
innovative ideas to advance its mission, Walker was the perfect
tion for innovation that has been emulated nationwide.
again by people both inside and outside of the i2E organiza-
fit, said Hershel Lamirand, a founding member of the i2E Board
tion who were interviewed for this story.
of Directors and CEO of the Oklahoma Health Foundation.
into a major entrepreneurial force in Oklahoma,” said Roy
For a new company that needed strong relationships and
Summer 2012
“Tom moved i2E from a small commercialization entity
Added Bob Craine, a Tulsa-based member of the i2E
“Tom had a vision of what we could be and then the cre-
Walker’s gift for team building was recognized again and
“Look up and down your hallway,” Peters said. “There
Continued on page 33 Summer 2012 i&E
21
As i2E prepares for a transition of
leadership, it now has approximately $40 million of investment funds under management with more than $14.6 million in federal grant funding approved over the
“I think Tom helped grow i2E to a remarkable degree and into a position where it is recognized not only in the state of Oklahoma, but regionally and nationally as the type of entity that people in other states want to emulate.” – Gerald Adams former Chief of Staff for Gov. Brad Henry
past three years.
“Tom leaves Oklahoma with an i2E
that is much more vibrant and robust with multiple programs than the founders of i2E could never have imagined,” Barnett said. “And Tom’s greatest legacy may be
“Over the years we’ve seen many people talk about partnerships, but finding examples of real partnerships where people are working on something to benefit both parties are rare. i2E has cultivated healthy partnerships because of Tom’s personality, his exceptional ability to listen and understand how all parties can benefit.” – Dan Berglund President and CEO, State Science and Technology Institute
that he has built an organization that is sustainable.”
A survey of more than a dozen of
i2E Board members and Walker’s colleagues and close associates throughout the state revealed an almost unanimous consensus on what will be his legacy after he leaves the state: Walker will be most remembered for the great leap forward that i2E made in sources and amount of capital offered Oklahoma entrepreneurs under his leadership. Under
Walker’s
leadership,
i2E’s
funding sources grew from two state-appropriated funds to a mix of private and federal public sources that now includes five managed investment funds and an
Here’s just a few of the ways that i2E’s role as a force driving entrepreneurial development in Oklahoma grew under Walker’s leadership: • Establishment of the i2E Fellows Program in 2008 • i2E received the International Economic Development Council’s Best Practice in TBED Award in 2009 • In 2009, Walker succeeded in creating the SeedStep Angels investment group, which now has three chapters statewide and others on the horizon. • Established Series II of the Oklahoma Seed Capital Fund in 2009 • i2E made the 100th investment from the Technology Business Finance Program in 2010
22
i&E
Summer 2012
• i2E received the SSTI Excellence in Technology Based Economic Development Award in 2010 • i2E received Certificate of Excellence from the national Standards for Excellence Institute in 2010 • i2E received a $1 million grant from the US Economic Development Administration (EDA) to provide technical services to entrepreneurs in the Oklahoma City area in 2010 • i2E was selected to manage $13 million of US Treasury grant funds as part of the States Small Business Credit Initiative in 2011
• i2E received a $280,000 planning grant from INCOG and the EDA to develop a Regional Innovation Strategy for the Tulsa region in 2011 • i2E’s office space in the Presbyterian Health Foundation Research Park was expanded and renovated in 2011 • i2E’s Tulsa office relocated to a new location in 2012 • i2E received a $390,000 grant from EDA for expanded Tulsa advisory services and Immersion Program in 2012 • The i2E team grew from 13 in 2009 to 22 in 2012
Angel investment group.
“He’s been able to figure out a way
to get Treasury and the federal Economic Development Administration to the table,” Lamirand said. “They don’t buy into things just on a whim. They are very detailed. Tom brought that to the table.”
Walker’s departure leaves a void
in Oklahoma’s economic development community, said many of those interviewed for this story.
“He’s just a first class person,” said
Dr. Stephen Prescott, President of the
“Those of us who have had the privilege of working with Tom will miss his wit, his leadership and his passion for the mission of growing Oklahoma businesses.” – Brett Crane President & CEO, Pray Walker “Tom was very progressive; he was an out-of-the-box thinker. It’s been a pleasure to work with him from the beginning and see him grow both personally and professionally over the last decade.” – Tom Kupiec founder and CEO of Analytic Research Labs and DNA Solutions “What I find particularly enjoyable about Tom is his curiosity and creativity when confronting work challenges. For a smaller state like Oklahoma to be at the forefront of innovations in our industry, not just sitting back but trying to do things that would be optimized and fit the people of Oklahoma by taking the best and the brightest from the rest of the country ... I just like the way his mind works!” – John May Managing Partner, New Vantage Group “Tom led a professional organization that was engaged and got results. He was involved in the deals, always available and brought a professional staff to the table. He was good for i2E, good for Oklahoma and good for the entrepreneurs.” – Gary Nelson Founder and CEO, Alkami Technologies, LLC “I think Tom's legacy will be redefining i2E's strategic direction to support entrepreneurs within the state, aligning his staff to that direction, and then assuring he had the appropriate financial resources at his disposal to execute that strategy and assist entrepreneurs. I am honored to call him a colleague and, most importantly, a friend.” – William Paiva Manager of the Oklahoma Life Sciences Fund “One thing that made Tom very successful is that he had a vision for what i2E could be. I think his biggest legacy is his willingness to take i2E into new areas that make the company a much more valuable tool for the state of Oklahoma in creating jobs and new business opportunities in our state.” – Scott Meacham Director, Crowe & Dunlevy
Oklahoma Medical Research Foundation and an i2E Board member. “I think he has a great opportunity in Ohio and I hope he knocks the ball out of the park there and that we somehow get him back in Oklahoma some day.”
“One of the things that he did that I really see the value every day is bringing more young people into the organization. Whether that be through the Fellows program or whether that be through the staffing decisions that he made, I think having those young, energetic, fresh minds in and around that organization gives it a life and energy and drive and perspective that are really valuable.” – Sheri Stickley President and CEO, Oklahoma Bioscience Association
That’s a sentiment that a whole state
shares.
Summer 2012 i&E
23
As i2E prepares for a transition of
leadership, it now has approximately $40 million of investment funds under management with more than $14.6 million in federal grant funding approved over the
“I think Tom helped grow i2E to a remarkable degree and into a position where it is recognized not only in the state of Oklahoma, but regionally and nationally as the type of entity that people in other states want to emulate.” – Gerald Adams former Chief of Staff for Gov. Brad Henry
past three years.
“Tom leaves Oklahoma with an i2E
that is much more vibrant and robust with multiple programs than the founders of i2E could never have imagined,” Barnett said. “And Tom’s greatest legacy may be
“Over the years we’ve seen many people talk about partnerships, but finding examples of real partnerships where people are working on something to benefit both parties are rare. i2E has cultivated healthy partnerships because of Tom’s personality, his exceptional ability to listen and understand how all parties can benefit.” – Dan Berglund President and CEO, State Science and Technology Institute
that he has built an organization that is sustainable.”
A survey of more than a dozen of
i2E Board members and Walker’s colleagues and close associates throughout the state revealed an almost unanimous consensus on what will be his legacy after he leaves the state: Walker will be most remembered for the great leap forward that i2E made in sources and amount of capital offered Oklahoma entrepreneurs under his leadership. Under
Walker’s
leadership,
i2E’s
funding sources grew from two state-appropriated funds to a mix of private and federal public sources that now includes five managed investment funds and an
Here’s just a few of the ways that i2E’s role as a force driving entrepreneurial development in Oklahoma grew under Walker’s leadership: • Establishment of the i2E Fellows Program in 2008 • i2E received the International Economic Development Council’s Best Practice in TBED Award in 2009 • In 2009, Walker succeeded in creating the SeedStep Angels investment group, which now has three chapters statewide and others on the horizon. • Established Series II of the Oklahoma Seed Capital Fund in 2009 • i2E made the 100th investment from the Technology Business Finance Program in 2010
22
i&E
Summer 2012
• i2E received the SSTI Excellence in Technology Based Economic Development Award in 2010 • i2E received Certificate of Excellence from the national Standards for Excellence Institute in 2010 • i2E received a $1 million grant from the US Economic Development Administration (EDA) to provide technical services to entrepreneurs in the Oklahoma City area in 2010 • i2E was selected to manage $13 million of US Treasury grant funds as part of the States Small Business Credit Initiative in 2011
• i2E received a $280,000 planning grant from INCOG and the EDA to develop a Regional Innovation Strategy for the Tulsa region in 2011 • i2E’s office space in the Presbyterian Health Foundation Research Park was expanded and renovated in 2011 • i2E’s Tulsa office relocated to a new location in 2012 • i2E received a $390,000 grant from EDA for expanded Tulsa advisory services and Immersion Program in 2012 • The i2E team grew from 13 in 2009 to 22 in 2012
Angel investment group.
“He’s been able to figure out a way
to get Treasury and the federal Economic Development Administration to the table,” Lamirand said. “They don’t buy into things just on a whim. They are very detailed. Tom brought that to the table.”
Walker’s departure leaves a void
in Oklahoma’s economic development community, said many of those interviewed for this story.
“He’s just a first class person,” said
Dr. Stephen Prescott, President of the
“Those of us who have had the privilege of working with Tom will miss his wit, his leadership and his passion for the mission of growing Oklahoma businesses.” – Brett Crane President & CEO, Pray Walker “Tom was very progressive; he was an out-of-the-box thinker. It’s been a pleasure to work with him from the beginning and see him grow both personally and professionally over the last decade.” – Tom Kupiec founder and CEO of Analytic Research Labs and DNA Solutions “What I find particularly enjoyable about Tom is his curiosity and creativity when confronting work challenges. For a smaller state like Oklahoma to be at the forefront of innovations in our industry, not just sitting back but trying to do things that would be optimized and fit the people of Oklahoma by taking the best and the brightest from the rest of the country ... I just like the way his mind works!” – John May Managing Partner, New Vantage Group “Tom led a professional organization that was engaged and got results. He was involved in the deals, always available and brought a professional staff to the table. He was good for i2E, good for Oklahoma and good for the entrepreneurs.” – Gary Nelson Founder and CEO, Alkami Technologies, LLC “I think Tom's legacy will be redefining i2E's strategic direction to support entrepreneurs within the state, aligning his staff to that direction, and then assuring he had the appropriate financial resources at his disposal to execute that strategy and assist entrepreneurs. I am honored to call him a colleague and, most importantly, a friend.” – William Paiva Manager of the Oklahoma Life Sciences Fund “One thing that made Tom very successful is that he had a vision for what i2E could be. I think his biggest legacy is his willingness to take i2E into new areas that make the company a much more valuable tool for the state of Oklahoma in creating jobs and new business opportunities in our state.” – Scott Meacham Director, Crowe & Dunlevy
Oklahoma Medical Research Foundation and an i2E Board member. “I think he has a great opportunity in Ohio and I hope he knocks the ball out of the park there and that we somehow get him back in Oklahoma some day.”
“One of the things that he did that I really see the value every day is bringing more young people into the organization. Whether that be through the Fellows program or whether that be through the staffing decisions that he made, I think having those young, energetic, fresh minds in and around that organization gives it a life and energy and drive and perspective that are really valuable.” – Sheri Stickley President and CEO, Oklahoma Bioscience Association
That’s a sentiment that a whole state
shares.
Summer 2012 i&E
23
PARTNERS
i2E, Inc. www.i2E.org i2E has been a primary source of concept, seed stage and start-up capital for Oklahoma’s high growth companies for more than a decade. The rigorous approach of our services has built a reputation for producing companies that are well positioned for investment capital. i2E and its partners have developed a series of investment funds that target companies at particular stages of the business lifecycle and also complement Oklahoma angel investors and venture capitalists. We also provide venture advisory and entrepreneurial development services. The results speak for themselves: Clients enjoy job, revenue and capital growth significantly higher than the state average. The state benefits from new globally competitive businesses, high quality jobs and an enhanced quality of life.
OCAST Oklahoma Center for the Advancement of Science and Technology www.ocast.state.ok.us As the state’s only agency whose sole focus is technology, OCAST is a small, high-impact agency funded by state appropriations and governed by a board of directors with members from both the private and public sector. OCAST works in partnership with the private sector, higher education, CareerTech and the Oklahoma Department of Commerce.
Greater Oklahoma City Chamber www.okcchamber.com The Greater Oklahoma City Chamber works to create valueadded membership opportunities and a business climate that attracts new businesses and enhances growth and expansion opportunities for existing business.
24
i&E
Summer 2012
The Presbyterian Health Foundation is a major contributor to medical research and education in Oklahoma. In 1996, it began the PHF Research Park, believing that a science-based company with patented products discovered in the medical research laboratory of the University of Oklahoma ought to be launched here Oklahoma.
Oklahoma Department of Commerce www.okcommerce.gov The Oklahoma Department of Commerce is the primary economic development entity in the state. Its mission is to increase the quantity and the quality of jobs in Oklahoma. It accomplishes that mission that through the following means: · Business Attraction, Creation and Retention · Community Development · Knowledge-Based Industry Development · Workforce Development, Recruitment and Retention
City of Oklahoma City www.okc.gov The City of Oklahoma City’s mission is to provide leadership, commitment and resources to achieve its vision by offering a clean, safe and affordable City; providing well managed and maintained infrastructure; excellent stewardship of public assets and a variety of cultural, recreational and entertainment opportunities, as well as creating and maintaining effective partnerships to promote employment opportunities and individual and business success.
Oklahoma Manufacturing Alliance www.okalliance.com
Oklahoma Business Roundtable www.okbusinessroundtable.com
The Donald W. Reynolds Foundation www.dwreynolds.org
The Oklahoma Business Roundtable, formed in 1991, is a 501(c)(6) nonprofit corporation. The Roundtable’s mission is to encourage and promote Oklahoma’s economic development. The Roundtable accomplishes this by providing critical private funding in support of the economic development efforts of the Governor and Oklahoma Department of Commerce by encouraging business investment and jobs in Oklahoma.
The Foundation is a national philanthropic organization founded in 1954 by the late media entrepreneur for whom it is named. Headquartered in Las Vegas, Nevada, it is one of the 50 largest private foundations in the United States.
State Small Business Credit Initiative www.treasury.gov/resource-center
OKLAHOMA EPSCoR The Oklahoma Experimental Program to Stimulate Competitive Research www.okepscor.org
The Small Business Jobs Act of 2010 created the State Small Business Credit Initiative, which was funded with $1.5 billion to strengthen state programs that support lending to small businesses and small manufacturers. The State Small Business Credit Initiative is expected to help spur up to $15 billion in lending to small businesses. Under the State Small Business Credit Initiative, participating states will use the federal funds for programs that leverage private lending to help finance small businesses and manufacturers that are creditworthy, but are not getting the loans they need to expand and create jobs.
U.S. Economic Development Administration www.eda.gov This year, the U.S. Economic Development Administration (EDA) marks 45 years of public service, with a mission of leading the federal economic development agenda by promoting competitiveness and preparing American regions for growth and success in the worldwide economy. EDA is an agency within the U.S. Department of Commerce that partners with distressed communities throughout the United States to foster job creation, collaboration and innovation.
Presbyterian Health Foundation www.phf.com
Oklahoma Medical Research Foundation www.omrf.org Founded in 1946, the Oklahoma Medical Research Foundation is one of the nation’s oldest and most respected nonprofit biomedical research institutes. Located in Oklahoma City, OMRF fosters a worldwide reputation for excellence by following an innovative cross-disciplinary approach to medical research.
The Alliance is a not-for-profit organization providing a variety of support to Oklahoma industry. Through a network of Manufacturing Extension Agents and Applications Engineers, the Alliance provides hands-on resources for improving productivity, increasing sales and reducing costs.
Oklahoma EPSCoR’s central goal is to increase the state’s research competitiveness through strategic support of research instruments and facilities, research collaborations and integrated education and research programs. They are funded through a three-year (FY2005-2008) $6 million Science Foundation Research Infra-Structure Improvement Grant matched by an additional $3 million from the Oklahoma State Regents for Higher Education.
U.S. Department of Treasury www.treasury.gov The Treasury Department is the executive agency responsible for promoting economic prosperity and ensuring the financial security of the United States. The Department is responsible for a wide range of activities such as advising the President on economic and financial issues, encouraging sustainable economic growth, and fostering improved governance in financial institutions.
Summer 2012 i&E
25
PARTNERS
i2E, Inc. www.i2E.org i2E has been a primary source of concept, seed stage and start-up capital for Oklahoma’s high growth companies for more than a decade. The rigorous approach of our services has built a reputation for producing companies that are well positioned for investment capital. i2E and its partners have developed a series of investment funds that target companies at particular stages of the business lifecycle and also complement Oklahoma angel investors and venture capitalists. We also provide venture advisory and entrepreneurial development services. The results speak for themselves: Clients enjoy job, revenue and capital growth significantly higher than the state average. The state benefits from new globally competitive businesses, high quality jobs and an enhanced quality of life.
OCAST Oklahoma Center for the Advancement of Science and Technology www.ocast.state.ok.us As the state’s only agency whose sole focus is technology, OCAST is a small, high-impact agency funded by state appropriations and governed by a board of directors with members from both the private and public sector. OCAST works in partnership with the private sector, higher education, CareerTech and the Oklahoma Department of Commerce.
Greater Oklahoma City Chamber www.okcchamber.com The Greater Oklahoma City Chamber works to create valueadded membership opportunities and a business climate that attracts new businesses and enhances growth and expansion opportunities for existing business.
24
i&E
Summer 2012
The Presbyterian Health Foundation is a major contributor to medical research and education in Oklahoma. In 1996, it began the PHF Research Park, believing that a science-based company with patented products discovered in the medical research laboratory of the University of Oklahoma ought to be launched here Oklahoma.
Oklahoma Department of Commerce www.okcommerce.gov The Oklahoma Department of Commerce is the primary economic development entity in the state. Its mission is to increase the quantity and the quality of jobs in Oklahoma. It accomplishes that mission that through the following means: · Business Attraction, Creation and Retention · Community Development · Knowledge-Based Industry Development · Workforce Development, Recruitment and Retention
City of Oklahoma City www.okc.gov The City of Oklahoma City’s mission is to provide leadership, commitment and resources to achieve its vision by offering a clean, safe and affordable City; providing well managed and maintained infrastructure; excellent stewardship of public assets and a variety of cultural, recreational and entertainment opportunities, as well as creating and maintaining effective partnerships to promote employment opportunities and individual and business success.
Oklahoma Manufacturing Alliance www.okalliance.com
Oklahoma Business Roundtable www.okbusinessroundtable.com
The Donald W. Reynolds Foundation www.dwreynolds.org
The Oklahoma Business Roundtable, formed in 1991, is a 501(c)(6) nonprofit corporation. The Roundtable’s mission is to encourage and promote Oklahoma’s economic development. The Roundtable accomplishes this by providing critical private funding in support of the economic development efforts of the Governor and Oklahoma Department of Commerce by encouraging business investment and jobs in Oklahoma.
The Foundation is a national philanthropic organization founded in 1954 by the late media entrepreneur for whom it is named. Headquartered in Las Vegas, Nevada, it is one of the 50 largest private foundations in the United States.
State Small Business Credit Initiative www.treasury.gov/resource-center
OKLAHOMA EPSCoR The Oklahoma Experimental Program to Stimulate Competitive Research www.okepscor.org
The Small Business Jobs Act of 2010 created the State Small Business Credit Initiative, which was funded with $1.5 billion to strengthen state programs that support lending to small businesses and small manufacturers. The State Small Business Credit Initiative is expected to help spur up to $15 billion in lending to small businesses. Under the State Small Business Credit Initiative, participating states will use the federal funds for programs that leverage private lending to help finance small businesses and manufacturers that are creditworthy, but are not getting the loans they need to expand and create jobs.
U.S. Economic Development Administration www.eda.gov This year, the U.S. Economic Development Administration (EDA) marks 45 years of public service, with a mission of leading the federal economic development agenda by promoting competitiveness and preparing American regions for growth and success in the worldwide economy. EDA is an agency within the U.S. Department of Commerce that partners with distressed communities throughout the United States to foster job creation, collaboration and innovation.
Presbyterian Health Foundation www.phf.com
Oklahoma Medical Research Foundation www.omrf.org Founded in 1946, the Oklahoma Medical Research Foundation is one of the nation’s oldest and most respected nonprofit biomedical research institutes. Located in Oklahoma City, OMRF fosters a worldwide reputation for excellence by following an innovative cross-disciplinary approach to medical research.
The Alliance is a not-for-profit organization providing a variety of support to Oklahoma industry. Through a network of Manufacturing Extension Agents and Applications Engineers, the Alliance provides hands-on resources for improving productivity, increasing sales and reducing costs.
Oklahoma EPSCoR’s central goal is to increase the state’s research competitiveness through strategic support of research instruments and facilities, research collaborations and integrated education and research programs. They are funded through a three-year (FY2005-2008) $6 million Science Foundation Research Infra-Structure Improvement Grant matched by an additional $3 million from the Oklahoma State Regents for Higher Education.
U.S. Department of Treasury www.treasury.gov The Treasury Department is the executive agency responsible for promoting economic prosperity and ensuring the financial security of the United States. The Department is responsible for a wide range of activities such as advising the President on economic and financial issues, encouraging sustainable economic growth, and fostering improved governance in financial institutions.
Summer 2012 i&E
25
OASIS OF SUCCESS: OKC
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26
i&E
Summer 2012
Explore OKC’s new digital magazine and channel at GreaterOKC.tv