SIRTI Spotlight Fall 2009

As we close on a year
that will likely be cited
in history books as the
most difficult business
environment since the
Great Depression, blame
is cast and solutions
are sought. It is easy
to lose sight of what is
working, when the news
focus is often on what
isn’t working.

The Sirti
Technology Growth Fund
and the Sirti http://www.sirti.org Model for
accelerating innovative
companies are programs that are working.
The initial $3 million revolving Technology Growth
Fund, made possible by a grant from the U.S.
Department of Commerce Economic Development
Administration and matched by a consortium of
community and regional banks and businesses, is
now fully subscribed with 11 business acceleration
loans to Inland Northwest technology companies. As
these loans are paid-down, funds become available
for new business acceleration loans. The fund was
originally designed to promote economic growth by
closing the gap in funding for start-up, emerging and
expanding technology-based companies. However,
this year it proved to be a critical source of growth
capital for our area’s innovative companies. Since
May of 2007: 11 business acceleration loans totaling
$3,145,000 has been loaned to 10 companies with
a total of 27 patents assigned or pending, to launch
their innovative products or expand sales. With
critical growth capital, every company has secured
strategic sales and partnership agreements and, to
date, over 23 additional technology jobs have been
created and 47 technology jobs have been preserved.

The economic impact has just begun to be felt.
In addition to garnering a reputation as the ‘go to
source’ for growth capital, Sirti is an incubator and
the business accelerator for technology-based
growth businesses in the Inland Northwest. From
the idea stage to profits and jobs, the Sirti team of
experienced technology entrepreneurs help other
technology entrepreneur’s jumpstart their dream
and rapidly build a business. From this help has
come additional job creation and economic growth
for the Inland Northwest.

I encourage you to read this newsletter from front
to back. You’ll be delighted to learn about a number
of Sirti clients’ novel innovations and the success
they are earning on multiple fronts. They definitely
deserve the spotlight for their contributions to our
region’s economic recovery.

Kim Zentz

Full Newsletter: http://www.sirti.org/Portals/0/Images/Sirti_fall09_spotlight.pdf