Alaskans hope to learn from TechRanch in Bozeman

Alaska and Montana have more similarities than just the wide open spaces and sparse populations.

Economic development is a challenge for both states, said John O’Donnell, executive director of TechRanch in Bozeman.

By KAYLEY MENDENHALL, Chronicle Staff Writer

TechRanch provides entrepreneurs with a place to start their businesses, access to a group of experts and resources to find funding. The business incubator works closely with Montana State University and the MSU TechLink program to help new businesses succeed.

"In terms of rural development, TechRanch is as good as it gets," said David Hoffman, CEO and founder of Alaska Growth Capital, a high-risk lender and venture capital firm in Anchorage.

Hoffman has family roots in the Gallatin Valley and spent every summer in Bozeman working on his uncle’s ranch as a child. About two years ago, he heard about O’Donnell’s work on economic development in Bozeman and thought TechRanch could benefit from his company’s ideas and vice versa.

"They have more options available to younger start-up companies," in terms of early financing, O’Donnell said. "I plan to go up there at some point and bring some of their ideas here."

Hoffman was so impressed with the TechRanch, he organized a trip to Bozeman for himself and four other representatives from Alaskan economic development organizations and the University of Alaska. They are in town this week to share ideas with O’Donnell and learn from his experiences.

"We have to learn from each other," said Hans Roeterink, executive director of the Alaska Science and Technology Foundation. "Instead of reinventing the wheel, I always prefer to backstab and borrow."

Alaska and Montana have both historically depended on natural resources as an economic base, said Lance Miller, of the Juneau Economic Development Council. But the focus on oil, mining and agricultural industries has shifted and both states have to adapt to a new, high-tech economy.

"They are doing some innovative things," Miller said. "I’m interested in the synergies between the university, TechLink, TechRanch and the private sector and how to make that work."

The group met with Tom McCoy, vice president of research for MSU, Monday morning to learn about the university’s role in pushing its research into commercial development.

"It’s remarkable how entrepreneurial your executive faculty are," said Joe Beedle, vice president for finance at the University of Alaska. "We are getting there, but we’re not there yet."

He said a paradigm shift has occurred where universities have to look for funding outside of the state government. Universities, which are public institutions, have to start being entrepreneurial in nature.

"I’m impressed that this model has allowed that to happen," Beedle said. "We’d like to replicate it."

http://bozemandailychronicle.com/articles/2003/02/18/news/techranchbzbigs.txt