University Daily Kansan / Thursday. March 12, 1987
5
Conference seeks to unite entrepreneurs with money
By PEGGY O'BRIEN
staff writer
Profitable business ideas may get the money they need to become reality May 5 at the Venture Capital Conference at the Adams Alumni Center.
The conference is designed to match entrepreneurs with venture capitalists, or someone with money abroad. This year, a new, potentially profitable company.
The application deadline is March 20, and Kurt Mueller, an Arthur Young and Company partner organizing the conference, said he expected about 100 applications.
The conference is sponsored by the University of Kansas Small Business Development Center and the Entrepreneurial Services Group of Arthur Young and Company, Kansas City, Mo.
To find workable business ideas, the center has announced a competition to select 15 Midwest companies, to present their plans at the conference.
The plans submitted by the companies will be reviewed by a committee of corporate executives and KU business faculty to determine the most feasible ideas for capital venture
financing
Mueller explained that a venture capitalist would be interested in a company with the potential of earning big profits in a few years. Medical product manufacturers or computer software houses are examples of companies that offer a quick return on investments.
The venture capitalist realizes the big risk of financing a new company and expects more of a return on the investment than would a bank, Mueller said.
The entrepreneur might need $500,000 to start the company but lack the money to fund it.
Mueller said the person with the fresh business idea probably would be looking for $250,000 to $1 million to get started.
Once the company becomes profitable, Mueller said the venture capitalist expected to receive three to four times the investment over a period of several years.
"They don't stay in forever," he said.
The owner of an applicant company is typically someone with four years of college, maybe a master's degree, and work experience with a large company, Mueller said.
The owner is tired of big companies and is offering a product or service with the potential to return profits quickly.
Entrepreneurs from Kansas, Nebraska, Iowa, Missouri and Colorado with business ideas are eligible to apply.
This is the second year for the Venture Capital Conference. Madhu Pangotra, assistant to the director of the center, said if this year's conference was a success, the center would probably try to hold the conference twice a year.
Mike Fragale, coordinator of the center, said he hoped the conference presentations would result in financing for several of the chosen firms.
Mueller said that three of the 11 presenters last year received financing. He said some companies had been courted by venture capitalists beforehand. The companies interfaced with investors began when the investors realized they would be competing for sponsorship of the new businesses.
One of the companies from last year, a video production company, received $500,000 and is about to sell public stock, Mueller said.
Police warn residents to lock up to cut down on break burglaries
Bv PAUL BELDEN
Staff writer
If you are leaving town during spring break, use your head and cut your losses, KU and Lawrence police officers said yesterday.
"The main thing is, just use your common sense." Ernie Gwin, Lawrence police officer, said. "He's almost somebody to get in your house or apartment."
"If a guy has to break through six
houses, he'll get in the house; he's going to
go.**
Gwin said the number of residential crimes in Lawrence increased during spring break, but the increase was difficult to measure because many crimes weren't reported until later.
Most spring break-ins occur off campus.
According to KU police statistics, of 73 residential burglaries reported to KU police in 1985 and 1986, only six occurred during spring break in those two years.
'Make it hard for somebody to get in your house or apartment.'
— Ernie Gwin Lawrence patrol officer
One reason could be because KU police work at full strength during spring break, said JL Jeanne Longaker, KU police spokesman. With
fewer people on campus that week, the ratio of police officers to the campus population is higher.
"When loading, a lot of people take a load down to the car and leave the room wide open," she said. "Then they go back to the room for another load and leave their car doors open, too. They need to take the time to lock both the car and room doors."
Longaker said many burglaries occurred while people were loading the trucks.
She said people with valuable, easy-to-steal things like stereos, cameras, television or jewelry take the business from when they leave for spring break.
If people are headed to the beach, they should leave their valuables with friends, Longaker said.
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