i2E: Investment a feel-good milestone for any entrepreneur
Startup incubator seeks to create Oklahoma jobs and wealth through investments.
This last year has been a remarkable time for those of us working to create jobs and wealth for Oklahoma by helping entrepreneurs and high growth companies become successful.
Entrepreneurs come to us with ideas at all stages of venture development, from those that are just a concept they are kicking around to those already in the product stage they want to take to the marketplace.
Let me share the story of one of those who came to us almost three years ago.
When Dr. Bryan Fuller walked through our doors, he already had a line of topical skin care products with anti-inflammatory properties. He wanted to build a sales force to expand revenue beyond a regional network of physicians' clinics and medical spas.
i2E's team of venture advisers and investment professionals worked with Fuller to position his company for the investment that would allow him to build the sales team that would expand his client base and grow revenue.
It all came together this year in a $1.5 million investment round in DermaMedics that included $325,000 from the i2E-managed Angel Sidecar Fund, one of three investment funds created through a partnership with the U.S. Treasury Department and the Oklahoma Department of Commerce.
It was a feel-good milestone for both DermaMedics and the i2E team that worked for months on presentations and documentation that demonstrated the company was a worthy investment.
“i2E is very proactive,” Fuller said. “They are clearly and sincerely interested in helping you.”
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