California Business Ascent

A statewide campaign to spur entrepreneurship and economic growth through regionally‐driven competitions for innovative businesses.

Job Creation Is Driven By Entrepreneurship“We find that on average the positive net growth of jobs in the U.S. economy is accounted for by the substantial positive contribution of new business formation”

Source: University of Maryland, and NBER ([email protected]), [email protected], [email protected] Center for Economic Studies, U.S. Census Bureau.


“Innovation Is The Key To Economic Recovery”

GLOBAL THOUGHT LEADERSHIP ON INNOVATION• “We’re still home to innovation and technology. Some of the biggest ideas in history have come from our small businesses. It won’t be easy, but there’s no reason we can’t make this another American century.”

‐‐ US President Barack Obama

• “Investing in innovation is the key to economic recovery”

‐‐ European Parliament President Hans‐Gert Pöttering

• “Science, innovation and technology will have a critical role to play in our recovery from the current economic crisis.”

‐‐MP Ian Gibson, House of Commons

• "Innovation is the soul of a nation’s advancement and the everlasting driving power of national prosperity.“

‐‐ Zeng Peiyan, Vice‐Premier, People’s Republic of China

• “We tend to think of innovation in terms of products and patents. But it’s also about business models and processes. Anything that allows faster or better solutions for customers is what it’s all about.”

‐‐ Nandan Nilekani, Co‐Chair, World Economic Forum on East AsiaA statewide campaign to spur entrepreneurship and economic growth through regionally‐driven competitions for innovative businesses.

Communities Must Become “Innovation Brokers”“Economic development must now change because the nature of the business development in the global economy has fundamentally changed.

Business development today is based on open innovation. Under this model, the role of economic development is to intervene at appropriate times to help firms achieve higher value and productivity.”

Source: Collaborative Economics, “The Innovation Driven Economic Development Model”A statewide campaign to spur entrepreneurship and economic growth through regionally‐driven competitions for innovative businesses.

GLOBIEs• Growth‐focused• Locally‐• Owned• Businesses run by• Innovative• Entrepreneurs


The California Business Ascent Challenge Series

An entrepreneurship competition conducted by GCN in participating communities and regions involving:Early‐Stage GLOBIEs

– Coaching and advisory support

– Media visibility

– Connection to Investors, Partners, Talent

Innovation Elite– Coaches and judges

– Peer‐to‐peer networking

– Mentoring opportunities

Civic Leaders– Proactive support for innovation

– Business‐friendly image

– Data collection and validation


Three Stage Event Program

A program of four events with companies competing in a series of business challenges

•Market Showcases – 15 Markets, March‐August– Entrants are screened and coached– Present 5‐minute pitch to panel of investors and livestreamaudience

– Receive feedback and ongoing support• Regional Finals – 5 Regions, September‐October

– Companies present to investors– Top 3 in each market go on to Statewide Finals

•California Business Ascent Finals – November 17‐18, Catamaran Resort, San Diego

– 50+ finalists compete in 6 elimination panels– Top Ten go on to final interview evaluation–Winner selected and announced.


Advisor EngagementThe Innovation Elite

Challenge Steering Committee• Regional Business Leadership

Chamber, Banking, Legal, Accounting, Service Providers

• Stakeholder Focus GroupIdentify regional innovation elite contacts for engagement in program participation.

Innovation All‐Stars• Successful Later‐Stage GLOBIE Enterprise Leadership

Experts in growing innovative companies in local market

• Event ParticipationScreening companies, serving as panelists, judges or speakers.

• MentoringCreation of Advisor profiles on the regional Business Ascent portal assist competing companies with plan and presentation.


Regional InvolvementStatewide VisibilityTurnkey Media Campaign

• Company and expert outreach

• Press release templates

• Fact sheets and talkingInternet/New Media Exposure

• Live Streaming Video Series

• Social Network Integration• Business Ascent News FeedExecutive Development Tools

• On‐Demand Training Content

• Innovation Asset Database


Live Streaming Video Webcast Program

Real‐time visibility to entire

GCN Investor Network• 90‐minute presentation segment

webcast

• Company presentations, including slide deck

• Investor panel discussion

• Question and Answer session

• Recorded and archived for on‐demand viewing


Competing CompanyQualification CriteriaInnovative1. Address new markets

2. New solutions for existing markets

3. New solutions to existing customers

Scalable1. Large, unmet market needs

2. National or global market potential

3. Realistic growth business model

Early Stage1. Annual revenues under $1M

2. Developed beyond concept stage

3. Stand‐alone company, not spinoff


More Regional ProsperityA Competitive California

Economic Development Outcomes

• More 21st century knowledge worker jobs

• More retail and service sector job creation

• Increased sales and property tax revenues

• Increased investment in public services and infrastructure

• Improved quality of life across the board

• Community reputation as “business‐friendly”


Program SupportAgency Partners

Innovation Leadership EndorsementsCivic LeadershipBrian P. McGowan, Deputy Secretary for Economic Development and Commerce, State of California

Jennifer Grutzius, Assistant Secretary for Economic Development, State of California

Eloise Klementich, Assistant Deputy Secretary, California Business Transportation and Housing Agency

Marty Keller, California's Small Business Advocate

Wayne Schell, California Association for Local Economic Development

Gurbax Sahota, California Association for Local Economic Development

Bob Linscheid, CEO, Chico Economic Planning Corporation

Yolo Venture Community Partnership

San Joaquin Venture Community Partnership

Northstate Venture Community Partnership

Sacramento Venture Community Partnership

Venture Fund PartnersRoger Akers, Managing Director, Akers Capital

Jack Crawford Jr., Partner, Velocity Ventures

Larry Kubal, Partner, Labrador Ventures

Steve Mills, Partner, DCA Capital

Bill Reichert, Managing Director, Garage Technology Ventures

Angel InvestorsDamon Danielsen, Angel Investor

John Garcia, Angel Strategies

Bob Goff, Founder and President, Sierra Angels

Brian Frenzel, Member, Band of Angels

Max Shapiro, Member, Keiretsu Forum

Steve Weiss, co‐founder North Bay Angels, Coachella Valley Angels

Professional Services ProvidersJohn Millar, Millar & Associates

Erik Pages, EntreWorks Consulting

Randall Kempner, Aspen Institute

Audrey Taylor, Chabin Concepts

Chris Soderquist, Soderquist Group

Josh Morgan, Morgan Dorado Public Relations

Steve Rubin, Business Executive

Rick Thau, Business Executive

James Beckwith, CEO, Five Star Bank

Mike Rizzo, Vice President, Five Star Bank

Tony O'Donnell, Moss Adams

Craig Buda, OpSource, Inc.

Dave Sanders, WorldBridge Partners

Ian Westberg, DLA Piper


About Golden Capital NetworkGolden Capital Network identifies innovative entrepreneurs and connects them to capital, expertise, and resources for building world‐class companies.

Golden Capital Network provides communities with the capabilities to integrate their own social capital networks for accelerating their homegrown entrepreneurs.

Since 1999, Golden Capital Network's 1000+ alumni companies have raised more than $1.3 billion in funding. Alumni companies include:• NovaBay Pharma (IPO)• InterVideo (IPO)• StubHub (acquired by Ebay) • Security Focus (acquired by Symantec)• PowerSchool (acquired by Apple)• MaxPreps (acquired by CBS)• Meridian Systems (acquired by Trimble)• Hanson Information Technology (acquired by Information

Global Systems).

Contact:Jon Gregory, CEO

Golden Capital Network

101 Salem Street, Suite 200

Chico, CA 95928

Phone: 530‐893‐8828

Fax: 530‐893‐8927

http://businessascent.com

[email protected]


The Innovation Economy Starts Here.

California Business Ascent

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