Frederick Dotzler Lecture (1999)

Frederick J. Dotzler President, Medicus Venture Parnters

The Roy and Bobbi Reiman Entrepreneur Speaker Series was held in March 1999. This year's featured speaker was Venture Capitalist Frederick J. Dotzler. Mr. Dotzler is an Iowa State alum and holds a B.S. in Industrial Engineering. Fred is currently the President and one of two general partners of Medicus Venture Parnters which is located in Menlo, California.

Mr. Dotzler was brought to Iowa State for his visit in a joint effort by the ISU Pappajohn Center, the ISU Entrepreneur Club, and the ISU Colleges of Agriculture, Business, Engineering and Veterinary Medicine. Fred was kept busy during his visit home to ISU by meeting met with deans of the hosting colleges, center staff, students and faculty. One of the day's events was a public lecture, which was held in Carver Hall. Pappajohn Center Assistant Director Judi Eyles said, "Fred's message was well received. He shared insights into lauching and capitalizing a new venture based on his years of exprience in the industry."

When Dotzler spoke, he highlighted what fundraising essentials are necessary for entrepreneurs approaching investors. Dotzler suggested that entrepreneurs put together a polished business plan with an appendix, a statement of objectives for the use of the proceeds, a list of references, a patent and financial statement. He also cautioned entrepreneurs to allow an appropriate amount of lead time for the potential investors to do research.

Dotzler said of the 250 business plans sent to Medicus each year, only four or five are chosen for an investment. As a venture capitalist, Mr. Dotzler said he looks for characteristics in potential clients sich as relevant experiences, past successful businesses it can help produce. He said colleges play an important role by providing the seeds. Companies are also seeds and gardners. He added that culture serves as a form of soil, and the capital that can be offered completes the system as fertilizer to grow the venture.

In addition to his public lecture, Mr. Dotzler was the guest speaker for a noon luncheon hosted by the ISU Entrepreneur Club. Eyles said,"This was the highlight of the day. The event was organized by six students from the Entrepreneur Club; these students planned, publicized and managed the event. It was a tremendous success." The luncheon, which was held in the Sun Room of the Memorial Union, was an opportunity for faculty and students to hear from Mr. Dotzler and participate in an open question and answer session. Dotzler advised students to continue to learn, keep watching trends and keep reading." Todd Schultz, a member of the Entrepreneur Club, who emceed the event, presented Fred with gifts of appreciation for his visit to Iowa State. One gift was a lithograph print of the ISU campanile.

Eyles said,"I think the students had an opporunity to grow from this experience. They also met an extremely successful venture capitalist," and she added, "I think they all look to him as a mentor." Following his public lecture, Mr. Dotzler toured Rocket Chips, a start-up company, and visited with company officials.

An Iowa State class also had the chance to learn from Mr. Dotzler when he attended Management 310, introductory enterpreneurship course, taught by Professor David Hunger.

Before his departure to the Des Moines airport, Fred also visited with Jamie Wade, Vice President of Administration and General Services at Engineering Animation(EAI) located in the Iowa State Research Park.

ISU Pappajohn Director Steve Carter summarized the visit by saying,"Fred offered some good lessons for everyone while he was with us here in Ames. Like he said, we should remember that people skills are very important and that experience is an excellent way to learn. He was right on the money when he said we should NEVER think that things won't change. He provided us all with some valuable information." Medicus Venture Partners invests in early stage financings of medical and biotechnology companies based in the western United States. Medicus seeks investments in the following categories: medical and diagnostic devices; drug delivery; biopharmaceuticals; genomics; healthcare information systems; medical instruments and healthcare services.

Mr. Dotzler has fourteen years of experience in venture capital investing. He has worked for nine years with Medicus Venture Partners and five with Crosspoint Venture Partners.

Dotzler has an extensive background in company operations. He has held positions in management, sales, marketing and acquisitions. Dotzler began his career by selling computers for IBM.

Pictured with Dotzler are members of the ISU Entrepreneur Club who organized the luncheon event. (L to R): Brian Wiksell, John Conlon, Todd Schulz, Fred Dotzler, Renee Seivers, Brent Schlicher, and Amy Stephens.