Rick Duke & Kevin Smith, CID4 Investing
Supporting the Colorado Life Science Industry...
1346_ 2/7/13 - Larry sat down to get an update from Kevin Smith, President & CEO and Richard (Rick) Duke, Ph.D., Founder & CSO - CID4 [Colorado Institute for Drug, Device and Diagnostic Development] a 501-C3 non-profit organization, launched back in 2009 with a mission to support the growth of the Colorado Life Science Industry both in terms of numbers of companies and numbers of jobs. Kevin explained, "Over the period of time since we started operations we work with companies, both to invest in and provide active management, to help guide them through the valley of death, when they're running out of cash but before they can actually access larger amounts of investment capital. So far we've invested in six companies - put $2 million to work. Those companies have created 65 direct jobs and they've attracted $20 million in investment capital into their businesses and used to grow their businesses here in Colorado." Rick said, "I think what sets us apart from other types of organizations like this is that we provide active management to our portfolio companies or project companies for that matter." A lot of that technology is early spin outs out of the University of Colorado or other research institutions where you've got a faculty member who is an entrepreneur and inventor, but doesn't necessarily have the experience in starting a company, or managing the operations, or developing a business plan, or product development plan. This is where CID4 often takes a fairly active role. Getting the company off the ground. Initiating operations and literally pitching the company to both angel investors and venture capital investors - with the goal of graduating them, raising a significant amount of capital to where they can now move out on their own." It's important to understand that CID4 is a not-for-profit company and what that means is the money that they invest in a portfolio company, if there is a return on that investment, rather than that traditionally being shared with the management of the venture capital firm, in fact, in our situation, that money goes back into technology development. This is unique from a number of... Listen for more...
RELATED LINKS: CID4 || CU Technology Transfer Office || CBSA || CU TTO Channel || TTO Blog || KEYWORDS: Rick Duke, Kevin Smith, CID4, Colorado Institute for Drug, Device and Diagnostic Development, Colorado Life Science Industry, Investments, CU Technology Transfer Office, bytes=5738060
LISTEN TO: Richard Duke & Kevin Smith
Colorado Institute for Drug, Device and Diagnostic Development
Powered by Podbean.com