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

OB Poll: Wineries and groceries

News
Friday, October 24, 2014

24-winethumbA majority of respondents agreed: Local vineyards should remain Oregon-owned and quality is the most important factor when determining where to eat or buy groceries.


Read more...

Shuffling the Deck

November/December 2014
Wednesday, October 22, 2014
BY JON BELL

Oregon tribes still bet on casinos.


Read more...

What I'm Reading

November/December 2014
Wednesday, October 22, 2014

Peter Lizotte at ACME Business Solutions and Roger Busse at Pacific Continental Bank share their favorite reads.


Read more...

Podcast: Turn Things Around with David Marquet

Contributed Blogs
Friday, October 17, 2014
davidmarquet thumbBY TOM COX | OB BLOGGER

How can you move from a command-and-control leadership model to one of true empowerment and accountability? David Marquet did, and he took notes along the way.


Read more...

Semiconductor purgatory

News
Monday, October 06, 2014
roundup-logo-thumb-14BY LINDA BAKER | OB EDITOR

Intel's manufacturing way station; Merkley's attack dog; Diamond Foods gets into the innovation business.


Read more...

Gone Fishing

October 2014
Thursday, September 25, 2014
BY LORI TOBIAS

Business has been good to Laura Anderson, leading some to suggest she must be awfully lucky to find such success in a business notorious for failure. But luck’s had little to do with it.


Read more...

The short list: 5 companies making a mint off kale

The Latest
Thursday, November 20, 2014
kale-thumbnailBY OB STAFF

Farmers, grocery stores and food processors cash in on kale.


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