Grow Utah Acquires SpeedPitch Events

– SALT LAKE CITY, Jan. 4, 2012 –

Grow Utah Ventures Adds CrowdPitch and SpeedPitch Events to its Entrepreneur Mentorship Arsenal

– Acquisition also includes rights to the Angel Investor of the Year Banquet, Startup of the Year and Mentor of the Year Awards –

Grow Utah Ventures  is significantly expanding its services to entrepreneurs by taking over the hosting and leadership of the popular CrowdPitch and SpeedPitch events that have been previously conducted by Lendio (formerly known as Funding Universe).

Nearly six years ago, Grow Utah Ventures along with Funding Universe organized the first SpeedPitch event ever held in Utah. That event gave leading entrepreneurs the chance to pitch their business to an exclusive room full of angel investors. Since that time, the events have blossomed into a standing forum where entrepreneurs of promise are given a close inspection by supportive angel investors.

“These events are always a lot of fun and provide a great opportunity for entrepreneurs and small business owners to get a quick reality check on their readiness and options for starting a business and getting funding,” said Brock Blake, CEO of Lendio. “The time came for us to hand off ownership and management of these events to someone else. It was a natural fit for us to turn to our original partner, Grow Utah Ventures to carry this on. We’re confident that the Grow Utah Ventures team will do a fantastic job in bringing these events to entrepreneurs throughout the state of Utah.”

“The CrowdPitch and SpeedPitch events provide a tremendous value to entrepreneurs and others who have a business idea,” said T. Craig Bott, president and CEO of Grow Utah Ventures. “We look forward to continuing the legacy of the CrowdPitch and SpeedPitch events and in helping would-be entrepreneurs get the input, expertise and mentoring they need to start and grow businesses,” added Bott. “These events will compliment our other initiatives, such as our Concept to Company Contests, all of which are designed to promote business and job creation.”

Grow Utah Ventures will also host the Angel Investor of the Year Banquet, as well as the Startup of the Year and Mentor of the Year awards.

CrowdPitch events bring business owners together to present their business idea in four minutes to a live panel of investors and expert judges in the hopes of winning their support. Audience members, or the crowd, have three minutes to ask questions, hear input from actual investors and gain a better understanding of what types of things investors are looking for.

The audience helps the live panel choose the winner by investing ‘FUN’ money in the venture of their choice. One grand-prize winner is selected from each event and receives a prize package consisting of cash and services from various sponsors. CrowdPitch events are held regularly and are open to all entrepreneurs free of charge.

SpeedPitch events are for investors and are similar to speed dating where entrepreneurs go from table to table and pitch to investors. The events give entrepreneurs the opportunity to get quick face time and feedback from investors. If an investor is interested in meeting with or learning more they can schedule a separate meeting. SpeedPitch events are closed to the general public.

Grow Utah Ventures, is a privately funded not-for-profit organization dedicated to stimulate, unlock and develop the entrepreneurial talent and early stage business opportunities for value creation across Utah.

In 2012, Grow Utah Ventures will roll out an aggressive schedule for these events and other exclusive initiatives.