Seed synergy

| Print |  Email
Articles - November 2011
Wednesday, October 19, 2011
Article Index
Seed synergy
Page 2
Page 3
Page 4
Page 5
Page 6
1111_SeedSynergy_02
From left: Tim Shields, Jackson and Huston during a brainstorming with other seed fund entrepreneurs.
// Photo by Anthony Pidgeon
The idea behind the Portland Seed Fund is to offer just enough support to entrepreneurs with promising ideas to quit their jobs and get to work on new businesses in Portland. The money comes from both public and private sources with the goal of providing returns to investors and taxpayers while fostering economic development. Huston and Jackson say it’s the right model for turbulent times because it focuses on the areas of the economy that are comparatively strong (social media, web commerce, applications for mobile devices) and takes advantage of the fact that launching a nimble technology company is much cheaper today than it was five, 10, even 15 years ago, due to improved technologies and widely accessible tools. Their research suggests that a million dollars seeded to a variety of startups can ultimately create 400 jobs. “There’s not an economic development department anywhere that can match that performance,” says Jackson.

Another purpose of the fund is to develop a spirit of camaraderie and collaboration to invigorate the startup scene in Portland. Since the inaugural class of eight companies was announced July 19, the selected entrepreneurs have been working in an atmosphere that’s part boot camp, part summer camp, meeting weekly on the central eastside, pooling resources and ideas, soaking up advice and concepts from mentors, investors and peers.

For the selected entrepreneurs, the seed fund process has brought an infusion of money, ideas and connections. “The money definitely helps,” says LaunchSide CEO Nathan Taggart. “People ask, ‘What can you really do with $25,000?’ Well, you can do a lot… But the introductions and the relationships have been worth even more to us than the money.”

 



 

More Articles

Downtime

October 2014
Thursday, September 25, 2014
BY JESSICA RIDGWAY

I'm not very interesting,” says a modest Ray Di Carlo, CEO and executive producer of Bent Image Labs, an animation and visual effects studio.


Read more...

Knight Vision

October 2014
Thursday, September 25, 2014
BY VIVIAN MCINERNY

Travis Knight wants to release a movie a year. Can he pull it off?


Read more...

Constant Contact

October 2014
Thursday, September 25, 2014
BY AMY MILSHTEIN

To prevent burnout, companies are banning email and after-hours communications. But is the 24-hour workday here to stay?


Read more...

The Diaspora

October 2014
Thursday, September 25, 2014
BY LEE VAN DER VOO

Former newspaper reporters move into brand journalism.


Read more...

The Rail Baron

October 2014
Thursday, September 25, 2014
BY LINDA BAKER

Oil is gushing out of the U.S. and Canada, and much of it is coming from places that don’t have pipeline infrastructure. So it’s being shipped by rail.


Read more...

Two Sides of the Coin

Contributed Blogs
Friday, September 26, 2014
0926 iphone6-thumbBY JASON NORRIS | GUEST BLOGGER

This post focuses on the recent release of the new Apple iPhone as well as Alibaba's IPO, the largest U.S. IPO in history.


Read more...

Innovation: a critique

News
Wednesday, October 08, 2014
1008 innovation thumbBY LINDA BAKER | OB EDITOR

A Design Week panel discussion raises questions about how innovative we really are.


Read more...
Oregon Business magazinetitle-sponsored-links-02
SPONSORED LINKS