Brian Vierra, venture catalyst for Economic Development of Central Oregon, offered no predictions Tuesday about the Bend Venture Conference coming in October.

Last year, venture capitalists awarded nearly $4 million, a record amount of money for the conference, to 12 companies in three categories. There’s no way to tell whether the 14th version of the annual event will break that record, Vierra said. EDCO organizes the conference that brings entrepreneurs to Bend to make funding pitches to fund managers and investors.

“It’s hard to say until after the application process is complete and we have an idea which companies have applied,” he said.

The deadline for entrepreneurs to apply is Aug. 11. The event has grown from a one-day showcase to a multi-day event and last year the largest venture conference in the Pacific Northwest. Three categories of competition are available: growth stage, early stage and social impact.

The growth stage is open to companies located anywhere in the U.S. that have a proven concept, initial revenue and are ready to scale up with investment. Growth-stage finalists could collect $250,000 or more in new investment, according to EDCO.

Last year, the big winner in the growth stage — Hubb, a Vancouver, Washington, firm that created a software-as-a-service platform for planners — took away $2.5 million. Most of that, $1.75 million, came from the Oregon Angels Fund, based in Portland.

The early-stage competition is limited to companies located in Central Oregon that have an idea that is close to proof of concept and is being tested in the marketplace. Last year, the award of $15,000 went to CushCore, a Bend company that manufactures an inner-tire suspension system for mountain bikes. Two other companies found investments at the conference despite being eliminated from competition, according to The Bulletin archives. The cash grant this year is $17,500 from BendBroadband Business, according to EDCO.

Adam Krefting, owner of CushCore, said the Bend-based company, a startup at the time, reaped experience from the event worth more than money. Preparing for the three-minute pitch to investors meant focusing on the core message.

“It was a big help, and the $15,000 was nice, but the process to get there was arguably more important,” he said Tuesday. “It forced us to think hard about what is the essence of our company and how do we communicate that in a short amount of time. Three minutes is nothing.”

At this year’s Sea Otter Classic, a major cycling event in Monterey, California, that features mountain bike racing and a consumer exhibition, Krefting said he and his team already had their sales pitch down pat.

“We had already rehearsed it so many times” for the Bend conference, he said. “That gives us that background, a solid understanding of what the company is, who we are and what we’re trying to accomplish.”

The social-impact competition took place for the first time in 2016. Applicants in that category must be for-profit companies located in Oregon. Their business models must include “a mission to have a significant and measurable social or environmental impact.”

Three companies received money in the first year, including Sudara, a clothing maker based in Bend that creates jobs for sex-trade victims in India. Sudara received the most in that category, $250,000, according to The Bulletin archives. Investments for social-impact finalists could range from $50,000 to $100,000, according to EDCO.

— Reporter: 541-617-7815, 
jditzler@bendbulletin.com