Americ'as #1 Wired City hosts Tacoma Venture and ContractQuest.
Added: (Sun Oct 15 2000)
Pressbox (Press Release) -
Tacoma, WA-ContractQuest president and COO, Jon Taber, had five minutes to persuade potential investors that his business plan was sound at the first meeting of Tacoma Venture, a partnership between the Northwest Venture Group and the Tacoma Technology Consortium (TTC), an affiliate of the Tacoma-Pierce County Chamber. The event is the first of its kind to bring venture capitalists to America’s #1 Wired City.
"We are bringing the venture community to Tacoma," said Paul Ellis of the Tacoma-Pierce County Chamber. "We are so pleased with the speakers that have been coming down from Seattle, that we are taking this event a step further by becoming a part of these people's lives now. They will come down on a quarterly basis, hopefully investing in our local businesses."
Along with the standard panel discussion of funding experts, Tacoma Venture holds five-minute presentations by local companies to attract interest from the audience of prospective investors. Attendees included a reporter from the AP Wire, investors from Silicon Valley Bank and Big Garden Ventures.
Taber’s presentation detailed the company's product, wireless and PC-based software that offers job posting, project management, estimation and cost control services, marketed through associations. He assured the audience of management's experience by divulging the average age, 55.
The crowd responded with enthusiasm as Taber described the expected revenue and scalability of his product. He told the group that the company expects to have revenues of $8 million by 2001 and $81 million by 2004.
“ContractQuest’s model enables everyone to win,” said Taber. “Associations earn substantial non-dues revenues and member loyalty; contractors lower their operating costs while increasing productivity; and using viral marketing, we gain a large-scale sales and distribution network throughout North America.”
The group, which met for the first time in Tacoma, attracted 250 venture capitalists and business leaders. Meetings will take place once a quarter with the next event planned for January 12.