Secretary Michael J. Olivier Pitches State and Region's Assets

FOR IMMEDIATE RELEASE
June 27, 2005 

Secretary Michael J. Olivier pitches state and region's assets to potential investors representing over a $ 1billion in managed funds

(New Orleans , LA)—On Monday June 27th , 2005, GNO, Inc., The Idea Village and Murphree Venture Partners continue their partnership to create a multi-state venture capital network—through the Capital Village program launched March 1st—by hosting eleven venture capital firms in New Orleans to pitch why the New Orleans region and state are “a good buy.” Says Secretary Olivier, “These firms can get in early. And, with the recently passed Angel Investor Tax Credit, they will have additional incentives to invest in our state's entrepreneurs.”

Throughout the all day session, VC representatives from out-of-state firms Intel Capital, Cogene Bioscience, SSM Venture Partners, Delta Capital, Aurora Funds, Aldus Equity, and Murphree Venture Partners along with in-state firms Louisiana Ventures, Louisiana Fund I, and Dean Capital will be presented with information that positions the region and state as a target rich environment for private equity investors to develop Louisiana-based ventures. They will hear about the state's commitment to entrepreneurial growth and how they can access valuable resources and connection to deal flow through the Capital Village.

“We saw the value in Louisiana immediately and I have personally leveraged my own contacts in recruiting other VC firms,” says founding Capital Village sponsor and Murphree Venture Partners, General Partner, Elliott Bouillion. “We believe the benefits outweigh the risk and are bringing our extensive networks, expertise and capital to develop quality investments for everyone in the syndicate.” The primary objective of the Capital Village is to build a network of national venture capital partners committed to investing and supporting early stage companies located in Louisiana.

“Capital is the critical piece to creating a vibrant entrepreneurial community” says The Idea Village President Tim Williamson . “We believe the State is committed to high growth entrepreneurs and the Capital Village program will support a national network of top tier Venture Capitalists considering investment in Louisiana ventures. Now it's time to create competition in the marketplace to provide necessary funds for growth. Local entrepreneurs are the winners here.”

Through the Capital Village program, VC partners will be provided with a team of trained MBAs from local Universities to assess, screen and develop qualified business plans. They may also attend quarterly pitch sessions for new ventures and participate in The Idea Village evaluation process. In addition, they will receive strategic access to regional and statewide networks. Perhaps most importantly, though, the Capital Village will provide the opportunity to address business retention threats before they become a foregone conclusion. “Participating in the development of entrepreneurial ventures on the front end will mitigate losses such as NeuroBionics, Hotel Booking Solutions and, most recently, VanillaSoft,” says GNO, Inc. Senior Vice President Sarah Kracke. “We'll be able to solve retention issues related to infrastructure, public policy and workforce before it's too late and they relocate to another state.”