|| Print ||
|Articles - July 2010|
|Friday, June 25, 2010|
Dick Sass has 45 years’ experience starting companies, creating jobs and running businesses. One thing he’s never tried is launching a venture capital fund — until now.
Sass, 67, recently partnered with medical devices expert Brian Brandell and longtime Portland investors Wayne Embree and Brock Metcalf to launch the Biomed Innovation Fund. His goal is to raise $20 million to help young companies that have developed “extraordinary technologies.”
Turning extraordinary technologies into jobs has been a consistent theme throughout Sass’ career. After moving to Oregon from Chicago in 1975 he launched Precision Interconnect in Wilsonville. Precision took cable technology developed by previous generations of engineers (including Sass’ father and grandfather) and vastly modernized it for use in ultrasound machines. Sass built Precision from a few dozen employees in the 1980s to 500 in 1991, when he sold the company.
Following that sale Sass founded two companies focused on wiring cable into a whole new arena: the human body. iSense, launched in 1995, develops continuous glucose monitors for people with diabetes. MicroHelix, launched in 1997 and sold to St. Jude in 2003, creates cable systems for medical devices that are implanted inside the body, such as pacemakers.
Between taking MicroHelix public and developing a $17 million partnership between iSense and an unnamed pharmaceutical giant, Sass has learned some lessons. He also knows about roadblocks. His plan with iSense was to get a product to market within five years; it’s been 15 years and counting.
Now he hopes to put both good and bad experiences to work, mentoring entrepreneurs supported by his new fund.
“A lot of venture funds are run by young guys with MBAs who are book smart but have no operational experience,” he says. “I’ve got a PhD in running companies and satisfying customer needs.”
Sass has already begun reaching out to promising young companies hungry for capital, as well as established pharmaceutical and medical device giants in need of new products to feed their pipelines. He plans for the $20 million fund to be the “first of several.”
Thursday, May 29, 2014
BY JON BELL
A new generation of outdoor apparel companies targets the young and the urban.
Thursday, May 29, 2014
I was in a rut. A few months ago, I was at my desk trying to come up with cover story ideas for our June “green” issue. But I was stuck on a concept that is a bit too tried and true in the magazine business.
Friday, June 06, 2014
BY KATIE AUSBURGER | OB GUEST CONTRIBUTOR
How to build a hipster-friendly work environment.
Thursday, May 29, 2014
BY LINDA BAKER
Remember mood rings? A team of scientists at Oregon State University has designed what might be considered a 21st-century analog of the ’70s jewelry fad: a bracelet that reveals one’s exposure to pollutants.
Wednesday, July 09, 2014
BY LINDA BAKER | OB EDITOR
Scott Kveton, the CEO of Urban Airship is taking a leave of absence from the company. As the story continues to unfold, here’s our perspective on a few of the key players.
Wednesday, May 28, 2014
More than 350 people turned out today for Oregon Business magazine’s sixth annual celebration of the 100 Best Green Companies to Work For in Oregon.
Thursday, June 05, 2014
BY HANNAH WALLACE | OB BLOGGER
What does it take to launch and run one of these mobile food businesses?
|The Private 150: Bigger But Leaner|
|The Perfect Food|
|Powerlist: Staffing Firms|
|Taxis Uber Alles?|
|Facebook revenue surges 61%|
|Walmart unexpectedly fires CEO|
|GM profit declines 80%|
|Study: Dogs can feel jealousy|
|Boeing profit surges 52%|
|Apple: iPhone sales jump|
|Comcast profit rises 15%|
Vigilant enters a New Year with a new president.
How George Fox has become one of Oregon's largest private universities.
Forest Grove sees growth in the burgeoning food and beverage scene.
Geffen Mesher is saddened to announce the passing of long-time shareholder, Tom “Mike” Anderson, who died on July 10, 2014, from liver disease diagnosed after recent heart surgery. He was 55 years old.
Fifteen Lane Powell attorneys have been named 2014 “Oregon Super Lawyers,” and another five attorneys have been named as “Oregon Rising Stars” by Super Lawyers magazine.
From its first-ever member forum, to upcoming Board elections, the Oregon-based, non-profit health organization is focused on letting members control their healthcare destiny.