HEALTH Strings Under the Big Sky - Explore Big Sky
HEALTH Strings Under the Big Sky - Explore Big Sky
HEALTH Strings Under the Big Sky - Explore Big Sky
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usiness<br />
Loan program for Montana entrepreneurs<br />
to operate under new partnership<br />
BOZEMAN – A program that<br />
provides interest-free loans to<br />
entrepreneurs will operate this year<br />
under a new partnership between<br />
<strong>the</strong> Montana State University College<br />
of Business and <strong>the</strong> Gianforte<br />
Family Foundation.<br />
Through this partnership, MSU<br />
business students will be involved<br />
in selecting entrepreneurs to<br />
receive loans from <strong>the</strong> Bootstrap<br />
Montana Loan Program. The<br />
program provides Montana entrepreneurs<br />
with loans for projects<br />
expected to provide a fast return on<br />
investment. Ranging from $5,000<br />
to $20,000, <strong>the</strong> loans should be<br />
repaid within a year. Peter Rubicam,<br />
director of <strong>the</strong> Bootstrap Montana<br />
Loan Program and a finance instructor<br />
at MSU, will supervise <strong>the</strong><br />
students.<br />
"This will be a valuable real-world<br />
education opportunity for our students,<br />
because <strong>the</strong>y will be exposed<br />
to <strong>the</strong> business analysis and loan<br />
evaluation process," Rubicam said.<br />
"Clients of Bootstrap Montana will<br />
also have access to pro bono consulting<br />
and o<strong>the</strong>r resources offered<br />
through <strong>the</strong> Jake Jabs Center for<br />
Entrepreneurship."<br />
The program embraces <strong>the</strong> business<br />
development philosophy of “bootstrapping,”<br />
or growing a company<br />
with <strong>the</strong> aid of outside investment<br />
or capital. It was funded in 2007 by<br />
Greg Gianforte, <strong>the</strong>n-CEO of Bozeman-based<br />
Right Now Technologies<br />
and head of <strong>the</strong> Gianforte Family<br />
Charitable Trust. The program aims<br />
to create jobs, bring new revenue<br />
into <strong>the</strong> state, and increase competitiveness<br />
of Montana companies. It<br />
was previously administered by <strong>the</strong><br />
Tech Ranch Foundation.<br />
Since its inception, <strong>the</strong> Bootstrap<br />
Montana Loan Program has made 24<br />
one-year, interest-free loans. Borrowers<br />
are Montana entrepreneurs<br />
who have used <strong>the</strong> funds to hire<br />
employees, attend trade shows or<br />
undertake o<strong>the</strong>r initiatives.<br />
bootstrapmontana.org<br />
Tester to host small business opportunity<br />
workshop in Bozeman, July 13<br />
Focus: high-growth companies<br />
U.S. SENATE – Sen. Jon Tester<br />
will host his 12th Small Business<br />
Opportunity Workshop in Bozeman<br />
on Friday, July 13. The event will<br />
connect Montana startup companies<br />
and entrepreneurs with nationally<br />
renowned experts in finance and<br />
capital markets, and o<strong>the</strong>r successful<br />
entrepreneurs.<br />
According to <strong>the</strong> Kauffman Foundation,<br />
a nonprofit think tank focused<br />
on entrepreneurship, nearly all net<br />
jobs created since 1980 have come<br />
from firms five years or younger.<br />
Many of <strong>the</strong>se startups are new<br />
businesses in high-growth, innovation-oriented<br />
fields.<br />
The workshop will be held in<br />
Gaines Hall at Montana State<br />
University and will feature panel<br />
presentations from investment and<br />
market experts. The panelists will<br />
discuss new opportunities for entrepreneurs<br />
as a result of <strong>the</strong> recently<br />
passed JOBS Act, which was signed<br />
into law in April and eases restrictions<br />
for small businesses to raise<br />
public capital.<br />
It will also highlight experiences of<br />
successful Montana entrepreneurs<br />
and feature one-on-one collaboration<br />
and networking opportunities.<br />
For a presentation called Made in<br />
Montana Advantage, three panelists<br />
will highlight <strong>the</strong> benefits of doing<br />
business in Montana. They are:<br />
• Jennifer Shryock, director of<br />
Resume Manager at Submittable,<br />
a Missoula-based online<br />
platform to receive and review<br />
files such as resumes and manuscripts<br />
• Dr. Brett Baker, president and<br />
CEO of Microbion, a Bozemanbased<br />
pharmaceutical company<br />
that develops innovative drug<br />
treatments<br />
• Trevor Loy, a partner at Flywheel<br />
Ventures, a venture<br />
capital investment firm making<br />
investments in Montana<br />
The event begins at 8 a.m. and is<br />
free and open to <strong>the</strong> public. RSVP<br />
at tester.senate.gov/workshop.<br />
explorebigsky.com<br />
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explorebigsky.com June 29, 2012 25