Built locally – invest locally?

In a big mixer pairing company founders with potential investors, local – meaning the Triangle – was key.

More than 400 investors, entrepreneurs and private equity professionals gathered at the Washington Duke Inn on Monday for the Association for Corporate Growth’s annual Capital Conference.

This year’s conference included a new feature: A “Made in the Triangle” company showcase.

Conference organizer and executive director of ACG’s Raleigh-Durham group Debra Michie spearheaded the ACG’s new initiative that featured more than 35 Triangle-based businesses and organizations. The event gave company founders the opportunity to network with the conference audience and each other.

Organizations ranged from Durham-based TROSA through Lulu.com, with a wide variety of company sizes and industries represented.

Organic Transit Touts Growth

Rob Cotter, founder and CEO of Organic Transit, was on hand with the newest model of the company’s electric bike-car hybrid, the ELF. Though the company isn’t currently seeking private equity funding or investment from venture capital firms, it continues to grow.

Organic Transit is now up above 20 employees, and Cotter says he has plans to add a fair amount of internship positions over the summer. Interns will come from Duke University’s Pratt School of Engineering, University of North Carolina-Chapel Hill’s Kenan-Flagler Business School and North Carolina State University’s College of Engineering.

And the company may have found new markets for their vehicles, suggesting future sales growth. There’s a large demand for ELF vehicles, said Cotter.

“We see them sell on Craigslist for $2,000 more than we sell them,” he explained. It’s apparently an added premium to grab a showy new electric vehicle.

One juice delivery company in Manhattan recently ordered forty vehicles.

Founders Respond

Cotter joined other local entrepreneurs, including Ginger Dosier of bioMASON, Vince Morgus of Lulu.com, Rim Vilgalys of Brothers Vilgalys Spirits Company and Jenny Bonchak of Slingshot Coffee Company.

“It was hard work,” said Michie, “harder than any other year.” In addition to filling the conference roster through a variety of methods – email marketing, postcards, and personal phone calls – Michie personally invited each company to showcase in the Made in the Triangle event.

That personal outreach certainly had an impact – more than 35 founders attended the showcase event. Founders were also invited to participate in the full conference.

Vince Morgus, CFO of Lulu.com, attended the full day Though the company is not currently seeking funding, it’s not bad to stay abreast of the industry and the trends within it, Morgus pointed out.

The conference also included a variety of presentations and discussions about financing.

During the sessions, said Morgus, companies were informed about the importance of well planned financial management. “My advice to companies,” said Morgus, “is to make sure your financial records are in order.”

It may, in itself, make a deal happen, said Morgus, but it could certainly break the deal.

“Sessions were informative,” said one entrepreneur from a smaller company, “but so far down the line for smaller companies.”

The sessions weren’t necessarily designed for the “Made in the Triangle” showcasing companies, said Michie, though several company founders have indicated to her that they’re on the verge of fundraising.

Striking a Deal on the Spot

“Several in the group are specifically at this event looking for capital,” said Michie, “and at least one potential partnership deal has already been done.”

The partnership is between Sumit Vohra of Lonerider Brewing and Jenny Bonchak of Slingshot Coffee, said Michie. Apparently the two entrepreneurs – who hadn’t met each other prior to the event – now plan to create a coffee beer for Lonerider.

Investors that attended last year’s event reported that they had made the trip because Raleigh and Durham were “on a bunch of lists” said Michie. Feedback forms indicated investors were interested in seeing early stage companies.

Michie and her co-organizers set out to do just that. “And we’re thrilled at this year’s inaugural Made in the Triangle Showcase event,” said Michie, “anything we can do to help our local companies, we’re glad to do.”

“I believe that at least five of these companies are on the verge of something big,” said Michie. “That includes Jenny at Slingshot, who is continuing to increase distribution along the east coast, and Rim of Brothers Vilgalys who recently signed distribution deals in Georgia and the DC area.”

“These companies are on the verge of taking the next big step,” said Michie, “next year, I would love to bring 100 local companies to the event.”

The conference concludes today.