September 15th marked the accomplishment of another milestone for PortTechLA. The PortTechExpo and Venture Conference was PortTechLA’s first opportunity to demonstrate that clean technology companies have an interest in doing business with the customers of the Port of Los Angeles, and that PortTechLA can be an effective vehicle for focusing their efforts and achieving a successful outcome – employment for San Pedro and Wilmington residents while helping local companies commercialize their products and services.
The event was a hybrid of sorts. Venture Conferences don’t typically include exhibits by competing companies, and Expo’s are generally thought of as trade shows rather than opportunities for companies to pitch their venture as an investment. But the chemistry worked as over 300 turned out to walk the Doubletree Hotel’s exhibit hall (and take a tour outside in the parking lot) while entrepreneurs armed with PowerPoint slide shows and high hopes delivered eight-minute pitches to groups of potential angel investors.
The day was event-filled with opening remarks by Port of LA Deputy Executive Director Kathryn McDermott and Assembly member Bonnie Lowenthal who encouraged those in attendance to take it all in and learn about the many technologies being developed to help Port customers meet their technology challenges. A morning session that included insightful comments by venture investors and clean tech entrepreneurs who have been successful in obtaining financing was followed by luncheon in the ballroom.
A highlight was the appearance of Councilwoman Janice Hahn and Mayor Antonio Villaraigosa. Councilwoman Hahn spoke about the importance of the event for local business, while Mayor Villaraigosa (introduced by Harbor Commissioner Cindy Miscikowski) focused on the importance of the Win-Win-Win situation created by having our client companies successfully acquire financing for their products that solve port customer problems and create employment for local residents. Sending containers back to China that are filled with goods made in Los Angeles makes for strong imagery and sends the message that American innovativeness and entrepreneurial spirit are indeed well in San Pedro Bay.
The afternoon’s events included another panel discussion aimed at entrepreneurs concerning the proper service providers to make a strong venture team. Led by LA Regional SBDC executive Sheneui Weber, the panel gave excellent advice to those who are commercializing new products, and those who invest in them as well.
In another part of the hotel the entrepreneurs continued with their venture pitches while judges from the California Coast Venture Forum; Connolly Bove, Lodge and Hutz, LLP; Technolplex; and other firms determined which companies should be awarded plaques for the most innovative technology, likelihood of acquiring funding, best management team, while the People’s Choice was voted on by the entire audience.
The day ended with presentation of the awards by Supervisor Don Knabe who stressed the importance of these kinds of events and the incubation concept in general to helping business in the South Bay. The success of the event has already prompted PortTechLA to announce that next year’s conference is slated for September 14th at the Doubletree.
Hot of the Press! Please read the following press release from the Port of Los Angeles.
PortTechLA's SEPT. 15 TECHNOLOGY EXPO AND INVESTMENT CONFERENCE TO FEATURE MAYOR VILLARAIGOSA, ENTREPRENEURS, INVESTORS
SAN PEDRO, Calif. — August 31, 2010 — Los Angeles Mayor Antonio Villaraigosa will join dozens of maritime industry technology leaders and investors at PortTechLA’s inaugural Technology Expo and Investment Conference on September 15. The day-long conference will feature demonstrations, seminars and roundtable discussions designed for entrepreneurs, investors and the maritime business community.
PortTechLA and The Greening of the Port of Los Angeles
More than 20 exhibitors will showcase their innovations for prospective business partners, and conference attendance is expected to include representatives from established investor groups – including Tech Coast Angels, Pasadena Angeles, California Venture Forum, Maverick Angeles and Los Angeles Venture Association.
Expo discussion panels will include “Investing in Clean Tech in Uncertain Times” and “Picking the Right Service Providers for Your Clean Tech Venture.” Mayor Villaraigosa will give the lunch keynote address, preceded by remarks from Los Angeles’ 15th District Councilmember Janice Hahn.
“PortTechLA is poised to become an important element in our overall plan to bring green jobs and sustainable economic growth to Los Angeles,” said Mayor Villaraigosa. “This conference will bring together key stakeholders to assess the latest clean technology in the maritime industry and introduce clean tech entrepreneurs to potential funding partners.”
Mayor Villaraigosa and other Los Angeles business and community leaders are featured in, “The Greening of the Port of Los Angeles,” part two of a new three-part corporate that spotlights business opportunities in the LA Harbor community, the impetus behind PortTechLA, and the many environmental initiatives and technology opportunities at the Port of Los Angeles.
Attendees are urged to register now for the conference, which starts at 8:30 a.m. at the DoubleTree Hotel in San Pedro. To register for the event, call 310-832-0028.
About PortTechLA
PortTechLA is a public/private non-profit technology commercialization center and incubator operated by a coalition of the City of Los Angeles, Port of Los Angeles and the San Pedro and Wilmington Chambers of Commerce. Its mission is to attract and mentor companies with technologies that will enable the Port of Los Angeles, and ports worldwide, to meet their immediate and future environmental, energy, security and logistics goals. It is designed to incubate or accelerate technology company growth through assistance with the development, testing, commercialization, manufacture and marketing of the products and solutions required to ensure the sustainability of the ports of the future.
About the Port of Los Angeles
The Port of Los Angeles is America’s premier port and has a strong commitment to developing innovative strategic and sustainable operations that benefit the economy as well as the quality of life for the region and the nation it serves. As the leading seaport in North America in terms of shipping container volume and cargo value, the Port generates 919,000 regional jobs and $39.1 billion in annual wages and tax revenues. A proprietary department of the City of Los Angeles, the Port is self-supporting and does not receive taxpayer dollars.
The Port of Los Angeles – A cleaner port. A brighter future.
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PortTechNetwork
The second Tuesday of each month is especially exciting at PortTechLA. That’s when our PortTechNetwork (PTN) convenes to give entrepreneurs, capital providers and service providers the opportunity to network, learn who else is in their market, gain some knowledge about operating a technology company, and appreciate the support of others who are also engaged in technology development. Each of our programs is specifically targeted at connecting entrepreneurs to people who can help them in their endeavor. This means that PTN participants meet with our SBDC consultants, the attorneys, accountants and marketing experts who attend, representatives of the Port of Los Angeles, and the folks they rely on most for useful information: other entrepreneurs. The discussion is lively, as is the networking at the conclusion of the formal part of the meeting. Want to join us? It’s easy. Just circle the second Tuesday on your calendar and be at the San Pedro Chamber at 10 a.m.
New Technology Incubator Tenant
How about a car or truck that needs an oil change once a year or less? Alex Weil says he can make it happen. Weil is president and majority owner of Marine Oil Technology (MOT), a startup manufacturer that recently opened its doors at PortTechLA’s downtown San Pedro headquarters. The company makes an aftermarket oil filtration device that it claims reduces the need for oil changes by 90 percent. That means, for example, truckers who might change their oil monthly could perhaps go a year or more without one.
“We could save millions of gallons of oil per year,” said Weil, a retired aerospace engineer who’s been developing the technology since 1999. “Basically it would improve fuel efficiency and lower pollution.”
The football-size device, which operates while an engine is running, employs a cotton filter to remove solid particles larger than 1 micron and uses heat to filter out liquid impurities.
“This has lots of potential,” said PortTech Chairman Herb Zimmer, noting the filter has been tested on several trucks and ships in the port. “It makes oil last virtually forever. You rarely will have to change oil.”
The company is seeking financing to relocate the manufacturing of its products from Sweden and Utah to San Pedro. PortTechLA is also pursuing funding to support its move into larger facilities that could accommodate multiple technology start-ups in a business incubation environment.
“One of our missions is to help start-up companies like Marine Oil Technology develop, test and market products that are environmentally beneficial to the maritime industry,” said Jeff Milanette, executive director of PortTechLA. “We’re looking forward to partnering with Marine Oil and other prospective tenants as we continue to build the foundation for PortTechLA.”
PortTechLA, 388 W. 7th Street, San Pedro, CA 90731, P 310-832-0028, F 310-832-0685
