It's the largest venture capital forum in Georgia's history, and it just might send the Innovation Crescent skyrocketing.
Venture Atlanta will draw over 100 venture capitalists from 20 states throughout the U.S. this fall to get an early, inside look at some of the most promising tech companies emerging from the state of Georgia.
"Those VCs in Silicon Valley, Boston and other tech meccas see Atlanta as a new area to focus on," said David Hartnett, Venture Atlanta co-founder and executive director. "It's because of the stellar technology coming out of Georgia's university systems, and the serial entrepreneurs who've been there and done it before."
Over 130 companies applied to take the stage at Venture Atlanta 2010, and 22 will each get a potentially game-changing 10 minutes to present – eight minutes to tell their story and two for Q&A. The companies forward their materials, business model and executive histories in advance and are vetted by some of the leading venture capitalists, business leaders and tech entrepreneurs in the Atlanta community.
"It may have been the best six-minute presentation that I have ever given. As a result of the presentation, we had 40-50 inquiries from the Venture Atlanta community," said Harris Fogel, president-Americas of Q4 Corporation. "We knew then that there was something to the Q4 story." It led the way to a $15 million investment from ABS Capital Partners to expand Q4's product, support and geographical footprint.
Another 20 or so companies that don't make the top tier have the opportunity to participate in a booth showcase. But, all of the companies participating in Venture Atlanta must be Georgia-based and must keep the investment in Georgia, ideally growing the job base here.
What's the ideal Venture Atlanta company? "One that has already proven their concept, and their technology is sound and ready to go," said Hartnett. "This company is looking for 'bridge financing,' anywhere from $2-15 million, to get them through the next stage of development and commercialization."
At the 2010 event, healthcare IT and alternative energy companies will lead the innovation line-up, as well as medical device companies and more traditional IT firms like digital streaming media, internet security, financial and e-commerce.
"Atlanta is now the proven healthcare IT capital of the U.S." said Hartnett. "It's our fastest growing segment and it's growing organically on its own because of the tremendous amount of bioscience here in Georgia's Innovation Crescent."
So what does the future hold for Venture Atlanta? Only the stars will tell. But for 2010, its leaders have collaborated with the Georgia Department of Economic Development to take their knowledge and strategic partnerships to a whole new galaxy of opportunity for innovation in the state of Georgia.
