Crocker addresses Utah executives at Utah Technology Council (UTC) breakfast event
SALT LAKE CITY (Nov. 17, 2010) – “It’s not about you,” Gary L. Crocker told Utah executives. “It’s your product, the long-term job and value creation and planning for future funding well in advance that will help Utah’s companies achieve sustainable growth.” Crocker provided an in-depth discussion on capital cycle planning and management strategy to a sell-out crowd at The Utah Technology Council (UTC) recent breakfast event at the Little America Hotel.
“Getting funding is not the key to success,” Crocker said. “In fact, all that ‘money’ gives you is the chance to fail gloriously. What is the real strategic cost of the money you’re taking? Who are you partnering with? As you receive your initial funds, who are you targeting for the next round of funding, and how are you preparing for that?”
“These are critical questions that will determine whether your company succeeds or fails,” Crocker said. “They are also the questions that will lead to a successful exit and will help determine whether you are the acquirer or the acquiree. Far too many Utah firms are acquired rather than preparing themselves properly to be the firm that acquires others,” he said.
Crocker provided five fundamental principles in his presentation, which UTC members can view in its entirety at www.utahtechcouncil.org.
UTC member BizVision, a provider of video-powered training and communications solutions for companies of all sizes, provided complete filming of Crocker’s presentation as a value-add for the members of UTC.
“Today’s presentation was the most insightful and compelling address on the issue of growing, funding, and sustaining a middle market culture that UTC has ever provided,” said Peter Klinge, Jr., Regional Managing Director of OneAccord LLC, Revenue Catalyst and Generation.
“Gary Crocker is truly one of the greatest resources to bioscience as well as to successful technology businesses that has ever been available to Utah executives,” said Richard R. Nelson, UTC founder and CEO. “It was the best foundational presentation on becoming a sustainable business that UTC has had in the last decade.”
Crocker is president of Crocker Ventures, a privately-held life science investment firm funding differentiated technologies in the areas of biotechnology and medical devices. He is also chairman of Merrimack Pharmaceuticals, an innovative and rapidly-growing personalized oncology drug company, a position he has held since 2004. Crocker has served as chairman of ARUP Laboratories, director of Interleuken Genetics and LineaGen Genetics LLC, and co-founder and director of Theratech, which was acquired in 1999 by Watson Pharmaceuticals.
UTC recently inducted Crocker into the 2010 Hall of Fame, which honors individuals with Utah ties who have made global contributions to the information technology, life science and clean tech industries through new technology, innovation and leadership.
About Utah Technology Council
Utah’s premier professional association, the Utah Technology Council has grown 20% a year for the past 8 years becoming the essential business resource for high-tech, life science and clean-tech companies seeking to achieve greater success. At its core, UTC exists to foster the Growth of the state’s over 5,700 technology companies, ensure Utah develops the highest Quality Workforce in the nation, and attract an ever-increasing array of Funding. Members join UTC to share insights with industry peers, counsel with government and academic leaders, and receive help from professional service providers and funding resources. To become a member of this “must-join” organization, visitwww.utahtechcouncil.org or call 801-568-3500 today.