$500K estimated BVC investment could break angel conference record in Oregon

Craft3 adds $26,500 to the 2014 BVC Fund, and launch stage finalists are announced

BEND, Ore. – October 2, 2014 – Economic Development for Central Oregon (EDCO), host of the annual Bend Venture Conference (BVC), has selected the 5 launch stage companies that will go on to compete for an estimated $500,000 at the 2014 BVC as Craft3, a CDFI lender that expanded operations to Central Oregon last year, adds a $26,500 investment to the BVC Fund.

“In BVC’s eleven year history, there have been eight cash awards amounting to over $1.25 million dollars,” said Brian Vierra, EDCO Venture Catalyst. “In its 11^th year, to have close to half a million dollars up for grabs, speaks to the strength of the entrepreneurial investment community in Central Oregon, and the sophistication of the type of businesses that have found success here.” Jason Moyer, Fund Manager for the 2014 BVC LLC added: “With record investment and venture capital quality deals, the BVC has gone pro.”

The 2014 BVC award will be the largest in the region at an estimated $500,000 of commitments to invest in the 5 launch state finalists. Here is a break-down of the tally to date:

• BVC LLC Fund Angels - $100,000+
• Cascade Angels Fund - $121,900
• Seven Peaks Ventures - $100,000
• Oregon Growth Account - $50,000
• Oregon Community Foundation - $25,000
• Craft3 - $26,500
• Additional side investments – commitments currently at $75,000
• Mandala Fire Starter Marketing Program - $50,000 worth of services awarded to any or all of the 5 finalists
• Palo Alto Live Plan - $1,500

“Craft3 is proud to invest in the Bend Venture Conference Fund,” said Turner Waskom, Craft3 Senior Business Lender. “This investment is another way that Craft3 can help to start and grow small business while strengthening economic resilience in the region.”

The Bend Venture Conference is divided into two categories that consist of five launch stage and five concept stage companies vying for investment and cash prizes. The concept stage finalists compete for a $10,000 cash prize from BendBroadband while the launch stage finalist could collect what is currently a nearly $500,000 investment, with funds still coming in from our angel investors.

In alphabetical order, the launch stage finalists are:

1. Amplion provides business intelligence solutions that give pharmaceutical and diagnostics companies strategic control of the complete clinical biomarker landscape.

2. Bright.md lets primary care providers deliver remarkably efficient remote care, increasing capacity by 30%, efficiency by 80%, and margin by 5x.

3. CrowdStreet is a crowdfunding platform connecting accredited investors with high quality, professionally managed investment real estate.

4. Homeschool creates the most durable highly breathable outerwear available keeping you warm and dry from the inside out.

5. PoachedJobs is a hiring platform disrupting the jobs market for industries with high turnover rates – starting with the restaurant industry.

In alphabetical order, the concept stage finalists are:

1. Bird Dog Bioventures is a veterinary/human biology start-up, researching and licensing underserved areas of animal health.

2. Cairn introduces outdoor enthusiasts to new brands and products through a monthly subscription while also collecting market data for the companies they work with.

3. Free Range Equipment manufactures light, durable, simple, functional backpacks for the performance focused athlete.

4. KidRunner is reinventing running and exploring with kids hands and arms free, featuring performance, safety, and beauty.

5. Volcano Veggies LLC grows organic vegetables and fish indoors with proprietary biotechnology solutions, providing cold-weather communities with fresh, nutritious local food year-round.

This is the fifth year EDCO has managed BVC. Learn more about EDCO at www.edcoinfo.com and register for the Bend Venture Conference at www.bendvc.com.

About Economic Development for Central Oregon (EDCO)

Founded in 1981, EDCO is a non-profit corporation, supported by private and public members and stakeholders, whose mission is to create middle-class jobs in Central Oregon by recruiting new employers to move to the region, helping entrepreneurs start new, scalable businesses, and working with our businesses that are already here to grow their operations.

About Craft 3

Craft3 is a nonprofit community development financial institution with a mission to strengthen economic, ecological and family resilience in Pacific Northwest communities. We do this by providing loans to entrepreneurs, nonprofits, individuals and others who don’t normally have access to financing. We then complement these financial resources with our expertise, networks and other advocacy for our clients. Over the past 20 years, Craft3 has invested more than $284 million in over 4,158 people and businesses in the Pacific Northwest. Learn more at www.Craft3.org and www.Craft3.org/Videos.

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