|| Print ||
|Articles - August 2010|
|Wednesday, July 21, 2010|
Page 3 of 5
Here is how Grimes describes his exit from the first of four businesses he has launched: “After about two years I got bored, sold it, started doing other things.”
Here’s his take on innovation: “The half-baked notion where you don’t even know what the product is or what the market will be, that’s what’s exciting to me. That’s where true innovation comes from.”
Grimes says all of the companies he’s founded, including the web advertising agency he launched in 1996, Eyescream Interactive, were profitable within 90 days in spite of not having business plans. But he got hit badly by the dot-com crash and Eyescream collapsed in 2001.
“A handful of really bad things happened as a result of having a five-year lease with a personal guarantee,” says Grimes. “It was not a pleasant time, but we did not have to file for bankruptcy and all the staff was paid.”
Even that grisly business experience could not beat the entrepreneurial zeal out of Grimes. He’s invested in a dozen companies in Portland and San Diego, launched a philanthropic water service, helped organize a Maker Faire in Ghana and placed more than 7,000 loans through Kiva, an online micro-lending program that connects investors from rich countries with entrepreneurs in poor countries. He hopes to take the NedSpace concept, a “cross-pollination of experience and ideas” as he describes it, and expand it nationally along with the high-volume, small-scale seed fund that he believes would complement it neatly.
His vision for such a fund involves seeding between 20 and 50 companies per year with $25,000 to $100,000 each. Grimes insists that spreading the investments widely would produce better results than mega-investments in one or two enterprises (think ethanol plants). “Are a third of them going to fail? Absolutely. We’re going to say that going into it,” he says. “Or maybe 20% or 25% will fail. But plenty will succeed. And what’s fail anyhow? If it employs people for a year and brings in taxes, is it a failure?”
Grimes argues that the successes resulting from such a program would bring further successes, improving Portland’s reputation as a city eager to host entrepreneurs, as opposed to an environment hostile to business. “If money is flowing through the city to start-up companies, people will move to Portland to start up companies,” he predicts. “You can do amazing things for startup companies with just $25,000 to $100,000.”
Thursday, February 27, 2014
BY ERIC FRUITS
Because they have little chance of working for someone else, today’s teens need to be entrepreneurs. But, first, we must teach our teens that entrepreneurship starts small.
Wednesday, January 15, 2014
BY MIKE GREEN | OB BLOGGER
The problem with the issue of income inequality is that it’s typically an afterthought to a region’s economic planning, and not a core priority around which primary economic strategies revolve.
Friday, February 07, 2014
BY TOM COX | OB BLOGGER
President Obama's State of the Union address held lessons for all leaders.
Tuesday, January 14, 2014
BY VIVIAN MCINERNY | OB BLOGGER
For Oregon’s comic biz, 2014 is already proving to be a real page-turner.
Tuesday, February 25, 2014
BY JESSICA RIDGWAY
A self-proclaimed “chile head,” John Ford “grows, eats and does everything spicy.”
Tuesday, January 21, 2014
Hood River company MTMCare manages medications for eligible Medicare clients.
Thursday, January 23, 2014
Chris Maples, President at Oregon Institute of Technology and Dave Rathbun, President of Mt. Bachelor ski resort share what they've been reading.
|The more they change, the more they stay the same|
|The 2014 List: The Top 33 Large Companies to Work, For in Oregon|
|The 2014 List: The Top 34 Medium Companies to Work, For in Oregon|
|The 2014 List: The Top 33 Small Companies to Work, For in Oregon|
|The future of money|
|Cancer to become No. 1 killer in U.S.|
|Bitcoin firm wins brief U.S. bankruptcy protection|
|Rival banana firms to merge|
|Blood test predicts Alzheimer's disease|
|Cerberus Capital to buy Safeway|
|U.S. adds 175,000 jobs|
|Bitcoin creator revealed|
Living in the beautiful Pacific Northwest means enjoying our wonderful surroundings, while remaining aware of the multiple types of natural disaster threats that we face: winter storms, windstorms, floods, landslides, earthquakes, volcanoes and tsunamis.“
Oregon State University's hospitality degree program invests in next-generation leaders.
Allowing individuals to access their own healthcare options has created more difficulty instead of making things easier. There are so many examples that illustrate why agents are more important than ever in helping businesses and individuals determine the healthcare coverage that best fits their need.
Barran Liebman is pleased to welcome Tyler Volm and Damien Munsinger as Associate Attorneys. Both Tyler and Damien represent employers and management in employment law litigation, and provide advice on a full range of employment law matters.
The 2014 World Trademark Review 1000 (“WTR”) recently named Lane Powell as one of the top trademark law firms in Oregon and Washington, and Lane Powell attorneys Kenneth R. Davis II, Parna A. Mehrbani, Frances M. Jagla and Paul D. Swanson as top individuals in the practice.
Capital Pacific Bank, a Portland-based community bank serving businesses, professionals and nonprofit organizations, today announced that it has earned recognition as a Certified B Corporation by B Lab, a nonprofit organization dedicated to building a community of socially responsible businesses. The bank is one of six financial institutions across the country to achieve B Corp status.