February 2009

University Technology the Topic for OVF February 11th Luncheon
By Kimberly Mauck email »

Today’s world can sometimes seem fraught with huge, unsolvable problems. Terrorism, climate change, the energy crisis and the downturn of the economy are foremost in the minds of most Oklahomans and Americans. These complex circumstances require more than teams of scientists; collaboration between experts in all different disciplines, from a technology’s innovation to its use, is vital to our country’s security.
           
The average citizen worried about these national quandaries probably did not know it, but last year, Oklahoma took a large step toward strengthening the state’s economy and the nation’s defense systems with a new national laboratory designed to cut cost and time in the research and development process. The University Multispectral Laboratories (UML), owned by Oklahoma State University, and based in Ponca City, officially opened in June of last year. It has already generated $2.3 million in revenue for FY08, and created more than 30 high-paying jobs.
           
Dr. Stephen McKeever, Vice President for Research and Technology Transfer at OSU, will discuss the formation of and plan for the UML at the OVF luncheon at 11:45 February 11 at the Presbyterian Health Foundation Research Park Conference Center.
           
The UML researches and develops sensor technology for four crucial sectors of government and industry: defense, intelligence, energy and security. The difference between this laboratory and other national research centers of its kind is that the UML brings together the technical and the tactical: both the scientists and engineers and the military and operations personnel work toward developing and testing effective technology.

“The mission of the UML is to accelerate knowledge from the innovator into a final commercial product,” McKeever says, or as UML Director Web Keogh puts it, “from development to deployment.”

OSU has been conducting sensor research for many years, but after 9/11, the state and federal governments began to direct more of its research dollars toward this spectrum of technology so critical to national security.

“By choosing [sensor technology] as a key area of research at OSU, we have leveraged existing core strengths and matched current national priorities,” McKeever says.
           
The UML has also brought together a diverse group of partners, with  interests in both economic and technology development, including Ponca City, the U.S. Congress, the Departments of Homeland Security and Defense, the state government, and many private groups, most notably ConocoPhillips, which donated the 70,000 square-feet building to serve as UML’s headquarters.

With these funds, the UML has established infrastructure for four laboratory and testing facilities in addition to its headquarters: a center in Stillwater that researches and tests body armor, chemical sensors, smart textiles, and more; an Unmanned Aerial Systems testing facility adjacent to Fort Sill in Lawton; an outdoor technical and tactical training facility north of Ponca City called “Chilocco;” and a Center for Aerospace and Hyperbaric Medicine in Tulsa.

These state-of-the-art facilities and the research dollars invested in them signify how crucial sensors are in solving the country’s seemingly unsolvable problems. These don’t represent heartache and hopelessness for McKeever, but instead, opportunity for growth.

“We’re in the period of the second land rush, except it’s not land we’re rushing into, it’s opportunity,” McKeever says. “There are so many opportunities created by organizations like the UML and the innovation in the state, which in this financial climate makes Oklahoma very attractive.”

For more information on UML, visit www.OkState-UML.org.

February Presentation – Doug Wallace, COO, OrthoCare Innovations

OrthoCare Innovations, LLC (“OI”) is a medical device research and product development company focused on commercializing advanced technologies into “smart” components that improve patient care in the prosthetics markets.

Launched in October 2007, OI has selected Oklahoma City as its primary base of operations. OI’s business strategy includes developing strategic relationships across the fields of orthotics, prosthetics and rehabilitation.

Beginning in 2009, OI will launch multiple products based on the company’s adaptive system approach and our patented platforms.  These technologies are designed to facilitate efficient, consistent, verifiable clinical care and enhanced patient outcomes. Their goal is to become the leading domestic producer of adaptive technologies and systems for the orthotic and prosthetic markets.

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Please join us for lunch on Wednesday, February 11, 2009, 11:45 a.m. at the Presbyterian Health Foundation Research Park Conference Center.  The Presbyterian Health Foundation Research Park Conference Center is located at 655 Research Parkway, Suite 100, in Oklahoma City. For directions to PHFCC, please visit www.phfcc.com/directions.htm.

Chairman's Perspective
Mel James

Dear Venture Forum Members and Guests,

What has been happening in Oklahoma?

We closed 2008 hearing the Census Bureau had Oklahoma number 19 on the list of the nation’s fastest-growing states. We have and will continue to fight the world economic turmoil like all the other states, but Oklahoma has something better going for us than most of the other states do.  I bet we finish 2009 higher than last year.

On a more current note, a press release on January 27th stated Governor Brad Henry, along with state Treasurer Scott Meacham, has found a way to provide millions of dollars to the EDGE Research Endowment Fund without cutting into the state budget, despite a $600 million budget shortfall.  I think we would all agree OVF endorses their initiative and concurs with their statement, “it is important for the state to continue support for the EDGE endowment this year”.

More good news. Our state’s technology development agency, OCAST, continues to report a great return for state monies invested through their programs.  Mike Carolina, OCAST Executive Director, reported that since 1987 the agency has returned $18.47 to the state for every dollar invested.  Quoting Mike, “The impact of those leveraged funds, combined with the state investment, has injected more than $3 billion into Oklahoma’s economy”.  The 2,137 individual research projects funded since 1987 report earning average salaries of $46,441, which is 33 percent more than the state’s per capita income.

Some good news on future funding opportunities for early-stage innovative and advanced technology businesses in Oklahoma.  i2E has recently announced the formation of SeedStep Angels.  This accredited investor-only angel group is patterned from a “best practices process” utilized throughout the U.S.  For OVF members that would like to keep up with i2E’s many programs, I would recommend you ask to be put on their list to receive their quarterly Innovators & Entrepreneurs magazine or email newsletter.  You can contact i2E at 800-337-6822 or www.i2E.org.

Last but not least, we like the way things are starting out for OVF in 2009.   With your help we expect to continue with a prosperous year and wind it down with another successful Bricktown Capital Conference on October 26th and 27th. 

Don’t be afraid to volunteer your services to assist the hard-working board members, committee chairs and committee members already going about doing their part to make this year a success.

Looking forward to seeing you at our February luncheon.

Principal Technologies, Inc.
By Lori Williams email »

Trends often come and go: The latest fashions and electronics may be passé by year’s end. But could there be trends in the job market with more than a season or two of longevity? Ask Bobbi Bailey, Vice President of Principal Technologies, Inc. (PTI) in Oklahoma City, and the news is promising. “Our company’s been specializing in filling niche industry positions since 1998,” she notes. “We’ve focused on engineering, accounting and IT jobs, and those three areas are still trending at the top of the job market.”

A decade ago, Pam Fountain founded PTI with the belief that the fields of engineering and IT (a third area, accounting, was added shortly thereafter) would have staying power in the business world. Turns out she was right about the job market, but that’s not all. Pam also believed she could raise a family while launching a new business. “She was able to accomplish both things,” Bobbi Bailey says admiringly.

Such success could have been its own reward, but Fountain’s tenacity had another unexpected, positive result. As Bailey puts it, “I’m seeing that more and more companies are realizing the importance of hiring back workers who’ve been out of the job market for a while – such as those who have taken a break to raise a family.”

As it turns out, women seeking to re-enter the job force find PTI to be a natural choice for their employment needs. “PTI is a women-owned business, and we were entirely staffed by women for quite a while,” notes Ms. Bailey. “But we recently hired a couple of men to work in our office.” (One has to wonder if those two didn’t find the best jobs of all.)

When Bobbi Bailey came to work at PTI in 2005, she was one of seven people at the company. Fast forward to 2009, and the internal staff number a robust 17. (An additional 50 work for PTI on a contract basis.) This growth is why PTI has been tapped for four Metro 50 Awards*, the most recent being in 2007 when the company ranked at number 33. 2007 was also the year that PTI was an OVF Venture of the Year finalist.

One reason for PTI’s staying – and winning – power is their expertise in filling government sector jobs.  “We solicit government contracts and bids, and are building a good reputation in that area,” notes Ms. Bailey.

“We basically have a government side and a commercial side; in both areas we fill jobs in our niche areas of engineering, IT, and accounting.”

Soliciting bids is key, but the staff at PTI also knows the value of working with other contracting companies. “Most people think of team as a noun, but at PTI, team is a verb,” clarifies Bobbi Bailey. “Though our company is growing, we are a still a relatively small organization. That’s why we sometimes choose to team with other companies to fill bids.” It’s a win-win situation since PTI gains valuable experience and recognition, while its partnering company gains a larger pool from which to select employees.

Still, the pool is too small when it comes to engineers. That’s why PTI, together with the Oklahoma Society of Professional Engineers (OSPE), organizes regular “Engineer for a Day” events. These are opportunities for high school students to meet – and watch - professional engineers at work.

Perhaps someday those very high school students will come to PTI when they’re ready to start an engineering career. No doubt, Bobbi Bailey will be there ready to match them with the ideal employer. “Staffing isn’t rocket science, but it is time consuming and time-sensitive,” notes Bobbi. “If it was easy, everyone would be doing it as well as we do it at PTI.”

For more information about PTI, visit their website at www.principaltechnologies.com.

*Metro 50 Awards recognize the fastest growing companies in the OKC area.

OVF members, send us your news!

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February 11, 2009
Beef Stroganoff
Grilled Vegetables
Green Salad
Chocolate Cake
Cookies

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February
OVF Luncheon
Wednesday
February 11, 2009
PHF Conference Center

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March
OVF Luncheon
Wednesday
March 11, 2009
PHF Conference Center

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April
Afternoon Tour
And Reception
Wednesday
April 8, 2009
ProCure Treatment Center

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2009
Bricktown Capital
Conference
October 26-27, 2009
Cox Convention Center

Mindy Young,
Executive Director

P.O. Box 20209
Oklahoma City,
OK 73156

405.341.6545 tel
888.522.6170 fax

mindy@ovf.org
www.ovf.org

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Officers and Directors 2008-2009