ROGERS -- More than 400 people gathered Monday at the John Q. Hammons Center in Rogers to hear business leaders talk about the role of technology in everything from start-ups to the world's largest retailer. The event was hosted by the Northwest Arkansas Tech Council, a group out of the Bentonville/Bella Vista Chamber of Commerce.
"Technology does not have to just be someone who works directly in the technology field," said Jon Cadieux, managing director of 455 Media Group and chairman of the Northwest Arkansas Tech Council.
Keynote Speaker
To read what keynote speaker Karenann Terrell, Walmart’s chief information officer, had to say about technology’s role in Walmart’s future, turn to page 1D of today’s Arkansas Democrat-Gazette.
Conference topics ranged from finding start-up funding to using social media to grow a brand.
The chamber launched the Northwest Arkansas Tech Council in March and has about 115 members. Cadieux said membership is a blend of the area's smallest and largest businesses.
About 150 of the 430 people registered for Monday's summit work for Walmart. The attendance goal was 400 and some had to be turned away.
"Holding this summit was a no-brainer," said Dana Davis, the chamber's president and chief executive officer. "We know there are opportunities here to grow that technology sector."
Jeff Amerine, director of University of Arkansas Technology Ventures and an adviser for Innovate Arkansas, said everyone can help the area's entrepreneurial base grow by getting engaged in events like the summit and embracing open innovation.
Innovate Arkansas is a program that encourages technology-based innovations and job creation in the state.
"You are the CEO of your own destiny," he said.
The area needs to continue to increase funding options for new businesses, something Amerine said is not unique to Northwest Arkansas. He said there had been some growth, adding that investors created 10 new angel investment funds in the state since 2005.
Angel investors provide smaller financial backing for small start-ups or entrepreneurs, usually with a one-time contribution.
Amerine compared finding the right investors to getting married: Finding the right match is important.
"You need to do as much due diligence on investors and they do on you," he said. "It has to be the right fit."
Abby Kiefer, co-founder of Red Clay, said she has turned down funding from investors who didn't share her vision.
"It is one of the hardest things to do," she said. She started Red Clay, a business that connects companies to designers, four years ago.
She said Northwest Arkansas' entrepreneurial system is more cohesive today than it was when she started and said it should be easier for the next generation to find capital funds.
Sometimes location doesn't matter at all, said Peter Coffee, vice president of platform strategic research and development at Salesforce.com.
"My map does not have places, it has industries," he said.
Coffee told summit attendees to be themselves when meeting with investors.
"Make sure you are not sending out any signals that are going to get into the way," he said.
Angelo Welihindha, head of mass market retail sales for Google, said entrepreneurs must keep a start-up mentality and be willing to innovate and change.
He said Google leaders have weekly one-hour town hall meetings to ask for employee feedback.
"Always keep your eyes wide open and be open to new ideas," he said.
Tim Lee, chief executive officer and co-founder of Sideline Access, said events like the technology summit are great opportunities to see new concepts and network with like-minded people.
He started his high school sports mobile app company four months ago in Springdale and is looking at taking his program across the country.
"Sometimes the best ideas come in passing," he said.
Courtney Dodd, account executive for retail marketing firm TPN, said it's important for companies to keep up with a continually changing retail landscape.
"You have to understand the changes to better serve your clients," she said. "I will take back what I heard today and apply it to my work."
Tammy Thurow, chamber vice president of marketing and membership services, said the next conference will be in April and will become an annual event.
"Technology is in everything we do," she said. "This event will just keep growing."
NW News on 08/12/2014