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Workshops/18″/LK1st/mark2nd

By SARA FISHER

Staff Reporter

In an effort to strengthen the region’s high-tech sector, a pair of county-backed groups are holding workshops to help local companies find funding.

This week, the Los Angeles Regional Technology Alliance is hosting its Technology Entrepreneur Workshop, which focuses on assisting companies in obtaining state grants.

That event comes on the heels of the Economic Development Corp. of L.A. County’s fourth annual Southern California Technology Venture Forum, which was held in mid-March to help connect entrepreneurs with venture capitalists.

Executives from both groups say the workshops are motivated by a need to help make technology companies more savvy in navigating entrepreneurial waters.

“L.A. is home to amazing technical minds who are starting companies with great ideas,” said Cliff Newmark, program director at the Technology Alliance. “But many of these people are relatively new to the entrepreneurial world and may need some guidance.”

Gabriella Greene, marketing director of the LAEDC, agreed. “Technology entrepreneurs can be so focused on their product that they are not always focused on their business plan,” she said. “That is where we try to help out.”

The Technology Alliance’s one-day workshop to be held April 13 at USC is designed to alert companies to the California Technology Investment Partnership (CalTIP) program, which provides state grants of up to $250,000 to tech firms that have received grants through the federal defense conversion program.

The state gives out about 20 CalTIP grants worth $5.5 million every year; according to Newmark; the L.A. region wins about five grants a year, each with a value of about $250,000.

The workshop will walk participants through the labyrinthine application process, give tips on what the selection team will be looking for, and present information about other state grant opportunities.

Daniel Toomey Jr., president of Nomadix LLC, a Santa Monica-based company specializing in computer network-related products, will be one of about 50 participants in the alliance’s L.A. workshop. Nomadix received a $1 million federal small-business innovative research grant and it is looking to leverage the grant to the greatest extent possible.

“I believe that this workshop is going to give us a leg up over companies from the rest of the state,” Toomey said. “By walking through the criteria and application, my company should have a higher chance of success.”

Compared to unraveling a state grant program, the LAEDC workshop’s directive is simple: Help a select number of local technology companies develop a presentation for venture capitalists, then hold a networking forum.

Over the forum’s three-year history, 18 of the 36 presenting companies have landed over $40 million in venture capital, Greene said.

The workshop’s centerpiece is a mentor program that, essentially, serves as boot camp for entrepreneurs.

Executives from the 15 companies selected this year from an applicant pool of over 50 met with a team of experts culled from a variety of fields for six weeks. By the end of the meetings, the tech companies had honed a solid presentation to unveil for the 350 registered attendees.

“My mentor team turned a laser focus on our business plan, tailoring it specifically to what venture capitalists want to hear,” said James Grunke, chief operating officer and president of Hotz Interactive Inc., an Agoura Hills-based software firm. “They also helped us develop a realistic timeline and expectation for the growth of our company.”

Grunke said his company is currently holding discussions with capital venture groups as a result of the forum.

Nomadix also participated in the LAEDC forum. “We accomplished in one day what normally would have taken months,” Toomey said. “We’re in active discussions with five venture capital firms from the meeting, which means it was a huge success.”

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