TVC Deal Stream Summit draws hundreds from across the country

If attendance is any indicator, this year’s Technology Ventures Corp. Deal Stream Summit shows that the state’s premier annual equity capital event has gained national attention.

The symposium, held April 2-4 at the Hyatt Tamaya Resort at Santa Ana Pueblo, attracted about 370 investors, entrepreneurs and technology commercialization professionals from across the country, up from about 250 last year, said TVC President and CEO John Freisinger.

“We’ve seen a lot more out-of-state people this year, and a more diverse group of investors from across a range of technology sectors,” Freisinger said. “People are traveling and spending more money to come here. New Mexico is back on the map.”

A dozen high-tech startups, including nine from New Mexico, pitched their wares to investors. Most showcased technologies licensed from research universities and U.S. Department of Energy laboratories.

They included mobile device applications, new computer software programs, and renewable energy-related innovations, such as products to improve the durability, safety and efficiency of solar panels. But nearly half were medical-related technologies, including breakthrough diagnostic devices for cancer and other diseases.

“We’re seeing a very strong bioscience focus in New Mexico, with a lot of companies that have advanced enough to attract investors,” Freisinger said.

Presenters sought from $350,000 to $7.5 million to further develop their technologies or launch sales and marketing campaigns. Typically, one out of every three technologies gets funding after presenting at the symposium, now in its 20th year.

“I think a number of these companies will draw investor interest,” said John Chavez, president of the New Mexico Angels pool investment group.

That’s difficult in today’s economy. Annual venture investments in New Mexico are running at about half the level achieved before the recession, making equity capital events like the TVC summit critical for startups.

Todd Stevens, managing director of Utah-based RenewableTech Ventures, told conference participants that tight capital markets have made it difficult to raise new venture funds, making fewer investment dollars available.

“Venture capital as an investment sector has fallen out of favor,” Stevens said.

However, a recent decision by the New Mexico State Investment Council to put more money in New Mexico-based venture funds could reinvigorate the industry.

“That’s terrific news,” Stevens said. “It could make a huge difference for startups here.”
— This article appeared on page B01 of the Albuquerque Journal