Ogden will be launch site for firms
November 15, 2005
JEFF DEMOSS - Standard Examiner

    OGDEN — When the Greyhound bus station opened on the corner of Historic 25th Street and Grant Avenue in 1940, an anonymous person wrote on an interior wall that 10,000 people visited the depot on the first day.

    One of Utah’s top entrepreneurial minds plans to restore the empty building’s former vitality by creating a different kind of temporary stop — helping launch new companies in the heart of downtown.

    Alan Hall, chief executive of Ogden based MarketStar Corp. and chairman of venture capital firm Grow Utah Ventures, plans to have a business incubation center up and running in the 4,300-square-foot building by the start of 2006.

    Dubbed the Grow Utah Ventures eStation (short for entrepreneurial station), the center will accommodate up to 25 people in several individual businesses at any one time. It will be the initial home base for many of the 100 companies Grow Utah expects to help launch over the next five years, Hall said.

    “New businesses need funding, but they also need a place to locate,” he said. “This will be a place for them to grow until they’re big enough to go out on their own, and then we’ll send them on their way,” much like the bus station once did.

    While companies that mature in the eStation won’t be required to stay local, Hall said he hopes to direct many of them to Business Depot Ogden and other Top of Utah locations. Since Grow Utah owns up to a third of each company it invests in, the firm will have a say in determining where each one locates.

    Grow Utah also offers mentoring, advice, sales and marketing assistance, among other forms of support. The eStation will help expand those offerings, President and CEO T. Craig Bott said.

    “This will be a unique, low-cost stop for all business services,” Bott said.

    While most incubators are affiliated with a university or other public institution, the eStation will be totally private, he said.

    Both Hall and Bott have found success in the entrepreneurial realm, and both are Weber County natives.

    Hall has grown MarketStar from the basement of his Roy home in 1988 to a worldwide enterprise with more than 1,600 employees generating $9 billion in annual sales for a client list that includes giants such as Microsoft and Hewlett-Packard.

    Bott has 22 years of business management consulting experience and has his own consulting firm, TC Bott and Co. He has also been involved with a family retail business that thrived in Ogden for several decades.

    Since its founding in summer 2004, Grow Utah has invested $3 million in 30 Utah companies. Most of those have been in Salt Lake and Utah counties, where about 70 percent of Utah businesses are based, but Hall said the eStation will help put the Top of Utah on the map.

    “Every one of these will be a national company,” he said.
 
 
 
 
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