VentureCapital.org (VCO), a nonprofit venture accelerator based in Salt Lake City, has named Brandon Stoddard as CEO, succeeding co-founder Brad Bertoch, who is retiring, in the position. Stoddard is also the director of the Weber State University Hall Global Entrepreneurship Center, a position that he will retain.
Backed by the Wayne Brown Institute, VentureCapital.org’s stated mission is to help entrepreneurs “start, find money, change the world.” It offers educational programs, pitch events and empowers its “Cooperative Venturing” network of professionals who are actively engaged in advancing entrepreneurs.
Stoddard, who has spent much of the last 15 years building organizations, counseling and teaching entrepreneurs and small businesses, was formerly director of programs at VCO.
VCO has assisted over 850 companies in its history. More than 70 percent of those companies have raised additional funding and 80 percent are still in business after 10 years, far exceeding the Small Business Administration’s figures of 35 percent over the same time period, Stoddard said. VCO alumni companies have recorded more than $20 billion in transactions, added 45,000 direct or indirect new jobs and enhanced the Utah economy with $4.5 billion in recurring gross domestic product, the organization said in a release.
“VCO has a strong history of results, including helping high-potential ventures raise almost $3 billion in venture funding with exits of over $17 billion,” Stoddard said. “Despite the state’s hot entrepreneurial economy, Utah still has untapped potential. I look forward to assisting the next generation of high-potential entrepreneurs in Utah, growing student-based businesses at Weber State and giving students a unique opportunity to be part of the local venture community.”
