Venture Island Event

For the second year, Northstate entrepreneurs will come together to build their businesses, be trained by professionals and ultimately win $25,000 in services and cash during Venture Island.
Throughout their three-month stay on Venture Island, entrepreneurs will benefit from networking, executive advising and making their business more recognizable in and outside of the community. If you missed it last year, Venture Island is unlike any local entrepreneurial development program. This competition is a smooth mixture of Survivor, American Idol and YouTube. Competitors are filmed pitching their products and then judged by business experts, as well as the audience.
June 23rd was the first round of Venture Island with a special event called “The Whole Pina Colada.” Several successful innovative product companies in the Northstate were showcased, such as Origami Foods and A Main Hobbies.
Ten aspiring start-up businesses also got the chance to pitch their products. Businesses came from Yreka to Grass Valley with a variety of ideas and technologies ranging from the invention of a new dog leash to an Internet medical device task company. In the end, five were chosen to move on— Novasyte, Cable Master, Bumble Bee Transport, Inovius and Telecom Lifters.
“I was pleasantly surprised at the state of entrepreneurship and innovation considering how you hear about all the doom and gloom in the economy,” said Jon Gregory, CEO of Golden Capital Network, a business funding the competition. “It was exciting to see that people are still starting their companies.”
In 2008 Venture Island was carried out in Chico and Redding separately, but this year the competition covers the Northstate from Grass Valley up to the Oregon border. Venture Island brings even more opportunities for participants with the Northstate competition leading to a statewide championship going on throughout California. The top three companies from the Northstate Venture Island will be able to participate in the statewide competition in November and will be part of 50 of the best starter companies throughout the state.
Venture Island is working to take companies that have the greatest growth potential. They want companies that have a product or service that can be sold locally, nationally or even globally.
It can be difficult for first time business owners to establish connections, hire employees, manage successfully and learn marketing and media. Venture Island gives them the tools to avoid these
obstacles.
“Venture Island has been created to draw out and bring people together who want to start and be involved in growth companies,” Gregory said. “Venture Island provides a rallying point for that to happen.”
Not only is Venture Island great for entrepreneurs it is also a wonderful opportunity for our community to raise awareness about the importance of homegrown entrepreneurship to the local economy.
The first challenge, “The Trading Post” is on July 23rd at the Enloe Conference Center in Chico. Entrepreneurs will make a two-minute elevator pitch to the judges and audience and will be ranked and given feedback. The top five presenters will receive special recognition and the top winner will receive a prize. No one will be eliminated yet. By that time, they hope to have 20 businesses competing.
Contestants can apply until July 20th. Just submit a three-page executive summary to entrepreneur@goldencapital.net.