FundSource OR, an invitation only investor event held on the eve of Outdoor Retailer Summer Market in Salt Lake City last month, provided exposure for six emerging companies to over 25 investors, according to SD Sport Innovators (SDSI), Outdoor Retailer and Grow Utah, which sponsored the event.
“FundSource OR was a great opportunity for Arena Sciences to present itself to a group of investors in a friendly setting, said Dr. Rupak Doshi, founder of Arena Sciences. The Q&A session and follow-up discussions were highly fruitful to understand the various strategies that the investors had in mind for funding innovative sports products. The opportunity to visit the massive Outdoor Retailer trade show was a wonderful addition to the event, as it presented an inspiring picture of where every startup company eventually dreams of being.
Over 25 active investors, with an interest in the sports and active lifestyle industry heard investment pitches from six high-quality, emerging companies, all which had been vetted and either graduated SDSIs business accelerator program, Springboard, or were a past winners of Grow Utahs Concept to Company competition. Each company presented their business opportunity in a five-minute quick pitch format to potential investors and strategic partners with the intention of securing follow on meetings.
The event was held in Salt Lake City the day before Outdoor Retailer show which attracts a growing number of venture capitalists and angel investors.
“This provides a new service and builds excitement around outdoor industry innovation, said Kenji Haroutunian, Group Show Director for Outdoor Retailer. I am really pleased to hear that several companies that presented at FundSource have already gotten follow up and potential funding for their next phase of development.
Presenting companies included:
- Arena Sciences (SDSI Springboard) www.arenasciences.com
- Bike Fast Rack (Grow Utah Concept to Company Winner) www.BikeFastRack.com
- Char Poles (Grow Utah Concept to Company Winner) www.CharPoles.com
- GrassAds (SDSI Springboard) www.grassads.com
- Lunatec, Inc. (SDSI Springboard) www.lunatecgear.com
- ZOIC (SDSI Springboard) www.zoic.com
Stay tuned for information on FundSource OR Winter Market, which will be held in January 2015. If you are an active investor in the sports and active lifestyles industry and are interested in more information about any of the companies who presented at Summer Marker or you would like to know more about FundSource OR Winter Market, please contact SDSIs Executive Director, Lisa Freedman a Lfreedman@connect.org.