Missouri Western State University hosted a venture capitalist speaker on Nov. 21. in The Leah Spratt Hall Enright Room.
Greg Main, CEO and president of i2E, presented â€œHow to â€˜Dealâ€™ with a Venture Capitalistâ€ to a group of 20 over a breakfast buffet.
The event reviewed strategies for mobilizing capital to fund early stage technology-based companies.
Christopher Shove of the Western Foundation was the person responsible for bringing Main to speak at MWSU.
Shove introduced Main and explained not only why MWSU needed venture capitalists to make the Innovation incubator a success but why they were important to MWSU students.
â€œMicrosoft, Dell were all started by college students or college age students,â€ Shove said while explaining the importance of the Innovation incubator and how the incubator will be a place for students to get their ideas out there.
Shove was part of the team reasonable for getting funding for the new Innovation incubator and knows that the incubator will need people like Main to be a success.
â€œVenture capitalists invest in new technology companies like Google,â€ Shove said while explaining what a venture capitalist does.
â€œThese capitalists invest in risky projects than say a bank; banks do not make risky loans,â€ said Shove. â€œVenture capitalists are willing to take a risk on start up companies because sometimes the higher the risk, the higher the reward.â€
The Innovation Incubator will be a facility that will provide facilities and assistance for new high technology companies as well develop inventions.
The Innovation Incubator is scheduled to begin building in early spring of 2007.
Greg Main then began his hour long presentation in which he praised MWSU for building the Innovation Incubator and stressed the importance of venture capitalist and the service they perform to make the Incubator a success.
â€œIt is not enough to have just the invention, you have to have someone to invest in the invention,â€ Main said about the need for money to help inventions from the incubator become prosperous.
Main became CEO an president of i2E, which is a private not-for-profit Oklahoma corporation focused on wealth creation by growing the technology-based entrepreneurial economy in Oklahoma, in 2003.
Main was formerly the Oklahoma Secretary of Commerce.
His tenure was highlighted by new initiatives such as the Oklahoma Alliance for Manufacturing Excellence, the Oklahoma Capital Investment Board Venture Investing Program and the Oklahoma Quality Jobs Program.
Main currently resides with his family in Oklahoma City, OK.
The cost of the presentation was $25.
The presentation was sponsored by The Western Institute Center for Professional Development.