Colorado Summit to examine state of tech industry

Colorado’s businesses diversifying their base

Tech events during boom years may draw bigger crowds than those held when times
are troubled.

By Janet Forgrieve, Rocky Mountain News

"In times that are economically good, when a rising tide is lifting all boats, it’s very easy
for events like this to be taken for granted," said Marc Holtzman, state secretary of
technology. "But Governor Owens and I both feel that this year, more than any other
time, it’s extremely important to have an event like this."

The event is the Colorado Technology Summit 2002, expected to draw a crowd of
2,000 to 3,000 to the Colorado Convention Center in Denver, Holtzman said.

For the third year, leaders in government, business and education will gather Friday to
talk about the state of Colorado’s tech industry, as well as its future.

"Colorado’s tech economy is going through a significant change," Holtzman said.

It’s diversifying from a base of traditional technology and telecommunications
companies to a more varied landscape including biotech, life sciences and aerospace,
he said.

The state expects those efforts to be aided by an increase of available, in-state
venture capital investment, Holtzman said.

Friday’s event features a panel discussion on venture capital by investors based in
Colorado or who invest in Colorado companies, as well as a couple of local business
executives.

"Only five years ago, in Colorado, if an entrepreneur wanted to fund a good idea, one
would almost certainly have had to look to the West or the East Coast for funding,"
Holtzman said.

Rick Patch, a general partner of Boulder-based Sequel Venture Partners, is one of the
panelists. Sequel invests primarily in Colorado companies.

Much of the panel discussion will focus on the state of the venture capital industry
now, Patch said.

"We have the dollars to invest; now we’re looking for the right combination of the
technology and the people," he said. "When you’re in a business, it’s all about liquidity.
We invest and we love to help businesses grow, but at the end of the day, we hope
the company will be something the public wants to invest in or that a larger company
will want to acquire."

The panel also will talk about the criteria investors look for before funding a company.

For others, the draw to this invitation-only event may be the keynote speakers.

A speech by flamboyant Oracle Corp. founder and CEO Larry Ellison will cap the
afternoon.

Earlier in the day, Peter Aldridge, the U.S. undersecretary of defense for acquisition,
technology and logistics, will speak. His duties include procurement of products and
services for the federal government.

Last year’s summit Colorado Springs drew almost 2,000 people and featured keynote
speaker Craig Barrett. Barrett, CEO of Intel Corp., waxed optimistic about the future of
high-tech and the need for an increased emphasis on education to train the future tech
work force.

"It’s more of a rally," Patch said. "The governor is really trying to get all the people in
tech and in the community and in the state to rally around technology and the impact is
has on us."

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