The other day, I was honored to attend an event put together by the fine people at the Pittsburgh Venture Capital Association (PVCA). The purpose of this event was to honor Frank Demmler. Frank is an old friend and a pretty much a Pittsburgh institution --- particularly when it comes to high-tech start-ups.

Frank could have, and had he decided to start his own businesses, retired many times over as a wealthy man. Instead, he chose a life of helping others hone and execute their business plans, and this “largesse” was evident by virtue of the hundreds and hundreds of people who came to the PVCA meeting to show their respect and gratitude.

For this legacy of giving back, Frank received a Lifetime Achievement Award. In my opinion, this award is long overdue. For there is no one in town more deserving of this recognition.

It’s easy for me to say this because Frank has, and via his associations with at least a half-dozen local investment funds, probably touched thousands of start-ups; I would guesstimate that even this number is somewhat low.

Follow me back now to the year 1982. I was at that time a 32 year-old failed entrepreneur who had ridden the rollercoaster all the way up and then all the way back down.

At this point in my life, I was trying to figure out how to put food on the table. There were many nights when there simply was no food. Frank at that time was involved with Tom Canfield and Stuart Lovejoy; they were then starting what would become Pittsburgh’s first truly independent investment group.

Known as the Pittsburgh Seed Fund, this small money pool (total investment dollars were, and I’m just guessing here, probably around $20 million) existed to provide small amounts of start-up capital to local high-tech companies.

Believe it or not, this was a previously unheard-of concept. There were simply no investment funds anywhere --- other than on the east and west coast.

I remember my first meeting with Frank. I had an idea for a start-up and I had written what my students would call a “throw-away” business plan. By “throw-away,” I’m simply indicating the fact that this particular plan should have just been thrown away! It was lacking in a number of key areas.

Frank took the plan from me and, in less than two-dozen words, told me to, “Go away and fix it.” He didn’t say whether or not I was invited back, but I re-worked the plan and indeed took my second shot.

I can honestly say that I had spent more than one hundred hours on that second plan. I had done my homework, and I had provided copious insights to the industry, my niche, and the opportunity itself.

I was so confident that Frank would love my plan that I even offered to buy lunch before he looked at it.

Big mistake. It took Frank all of five minutes to find two or three absolute show stoppers. He even pointed out to me the obvious fallacy of my overall premise. That hurt.

Over the years, I have seen Frank bring strong men to their knees with his penetrating analyses of their business strategies and tactics. If there is a flaw in the business plan, he’ll find it. If the strategy is in any way illogical or unworkable, he’ll tell you exactly where, when, and why this is so.

And he’ll do this as economically and incisively as a surgeon. Frank has very little time for fluff and adornment.

This is not to say that Frank Demmler is an ogre. Far from it. In fact, and I know he’s not going to like this, but I am here to tell the world that Mr.Demmler is at heart one huge pussycat. I have seen him cry and I have seen him quietly do kind things for others --- things that most individuals would never even consider doing.

Frank lost his wife, Ada, about a decade ago. She died way too young and she was Frank’s true love. I remember going to his house in Mount Lebanon just after she passed away. The Demmler’s had just finished remodeling their downstairs area and I’m sure that Frank had planned to spend at least some part of his twilight years taking full advantage of this most “homey” area.

Unfortunately, Frank and Ada never had that chance.

Frank is also the father of some very successful children. All have achieved advanced degrees, and all are very successful in their own professional lives. On the affinity scale, Joe, Dan, and Matt are every bit as loved as Ada.

I could tell stories about Frank’s contributions all day long. One of my favorites, though, would have to be the story of Talkshoe. Talkshoe was a start-up that was created by Dave Nelson. The Talkshoe product basically enabled virtually anyone to have his or her own talk radio program on the Internet.

I was an investor in Talkshoe right along with Innovation Works --- Frank’s Innovation Works. As such, I had an opportunity to work with Frank as we negotiated some rather “interesting” waters. (Beyond myself and IW, Dave had sold equity to a number of investors, some quite sophisticated and others right off the street. It was a hell of a mix.)

I learned so much on that board - especially about how to encourage disparate investors to work together. His “behind-the-scenes” stewardship was something to behold.

Today, Frank Demmler, along with Rich Lunak, ensures that all of the dollars that pass through Innovation Works are spent wisely. No one gets a dime from IW without Frank’s up-front analysis and ongoing scrutiny.

Unfortunately, Innovation Works’ budget was recently crushed by the State. I find it almost unconscionable that the same state that funds a fleet of some 16,000 automobiles can’t also find the money to reinstate IW’s investment budget. When one considers the jobs and the value created by the businesses funded by IW, one can only shake his head in amazement.

Only government could be so profligate.

Frank Demmler. A man who could have selfishly built his own businesses but instead helped hundreds and hundreds of entrepreneurs build theirs.

Thank you, Mr. D. Thank you very, very much!