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|Articles - July/August 2013|
|Monday, July 08, 2013|
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Oregon Angel Fund founder Eric Rosenfeld would agree that he and his band of intrepid investors are enticed by nanotechnology. He’s also quick to note, however, that OAF investors tend to gravitate toward Oregon industries “where there is already a concentration or cluster of talent to draw from,” i.e., not nano-inspired businesses. Since 2007, OAF has put together a fund each year (this year’s is $5.7 million with 130 investors) with the aim of making four to seven company investments, from $100,000 up to $1 million.
Prior to 2011, Rosenfeld says, OAF didn’t have particular investor expertise in the nanorealm; roughly 50% of the last two funds’ investments were in software-related companies. However, the due-diligence committee formed to explore investment possibilities in Portland-based Pacific Light Technologies helped shift that. OAF has given money to Pacific Light and NorthShore Bio, and now has an investment offer pending with bioMetric Holdings.
Rosenfeld, 48, says OAF searches for “showstopper” ideas among the 100 to 200 business plans they see each year. Intel alumni are a source of both investors for OAF funds and ideas for companies; Rosenfeld says Intel is almost like having a semiconductor university in the region.
“We see the really neat stuff, the nano innovations, happening at the intersection of different disciplines rather than within the core disciplines,” Rosenfeld says. “Like in the case of NorthShore Bio, where people coming out of Intel who understand semiconductors are coming together with others who get digital biology, to develop sensing ‘nanopore’ chips. And even Pacific Light, which blends expertise in electronics with advances in nano-level optics.”
Despite enthusiasm for OAF investments in these “intersection” nanocompanies, Rosenfeld is clear that an economic success is now needed, and the sooner the better.
“It’s still early, but we need a success and some wealth generation to initiate that cycle of wealth creation,” he says. “The cycle works in Seattle and the Bay Area, but it hasn’t happened here in nano.”
Practically speaking, without a nanocluster, whether in digital biology, electronics or some other area, supply chains don’t develop. Existing companies also have less of a local talent pool. In addition, as Rosenfeld explains it, OAF is typically a first or lead investor in local Oregon startups. As companies go through further funding rounds, however, Oregon’s venture capital community may not be big enough, and some startups may bow to demands to pick up stakes and move nearer the Silicon Valley investor community.
“We have the inklings, the embryonic stages,” Rosenfeld said. “But these days it actually takes a village to grow a successful company.”
Wednesday, August 26, 2015
BY KIM MOORE AND LINDA BAKER
Child care in Oregon is expensive and hard to find. We delved into the numbers and talked to a few executives and managers about day care costs, accessibility and work-life balance.
Thursday, August 13, 2015
BY JACOB PALMER | DIGITAL NEWS EDITOR
Portland-based startup ImpactFlow recently announced a $5.7 million funding round. CEO and co-founder Tyler Foreman talks about matching businesses with nonprofits, his time at Intel and the changing face of philanthropy.
Monday, September 28, 2015
BY JACOB PALMER
Live, Work Play with the President and CEO of Tillamook County Creamery Association.
Friday, August 14, 2015
BY JACOB PALMER | DIGITAL NEWS EDITOR
17 airlines make stops at Portland International Airport, but not all are created equal when it comes to customer service.
Wednesday, September 09, 2015
BY CHRIS NOBLE | ART DIRECTOR
Wednesday, September 16, 2015
BY GREGG LEWIS | OP-ED
The issue of green-washing remains a significant challenge to those of us who would like to see the building sector in this country do more than make unverifiable claims of sustainability. Transparency about the impacts of a given material is the only way to allow designers to make intelligent choices when selecting building products.
Wednesday, September 30, 2015
BY LINDA BAKER | EDITOR
The media coverage about Pope Francis must have put me in a Biblical frame of mind. Because after touring the latest phase of the South Waterfront development, a mind boggling 1.5 million square feet of office and retail space that will spring up north of the aerial tram over the next few years, I couldn’t stop thinking about the massive project as a modern day creation story.
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Promoting from within its own ranks, PacificSource Health Plans has tapped Tony Kopki to head its commercial lines of business in Oregon, Idaho and Montana. In his new role as Vice President of Commercial Programs, Kopki will provide strategic, product and market leadership for PacificSource’s commercial programs.
Thomson brings 25 years of healthcare experience in provider relations, sales, marketing and communications.