March 10th, 2011
Finding funding faster: OTBC opens Oregon TechLaunch Boot Camp
For many startups, finding funding is the only thing standing between them and realizing their dream. But it’s not easy. And there are any number of ways to screw up an opportunity.
Now, OTBC is launching a new initiative with one focus in mind: getting funding for every startup that goes through the program. Introducing Oregon TechLaunch Boot Camp, their new technology startup training program.
The program, designed in collaboration with Oregon Entrepreneurs Network, Portland Angel Network (an OEN program), TiE, Bridge City Ventures (managers of the Portland Seed Fund), and the Software Association of Oregon is an intensive, three month training program, hosted and managed by OTBC. Tuition costs $900 per startup.
What do selected companies get out of the deal?
3 Months of intensive focus with 24/7 access to the open work area in OTBC’s facility in Beaverton where participants can work on their product, work with customers, attend seminars and lunches, while learning from and even collaborating with other entrepreneur participants.
Weekly seminars from experienced start-up CEOs, investors, and other business experts with practical advice on the business-side of starting a company. These programs will be based on the Kauffman Foundation’s FastTrac TechVenture program and materials, in addition to materials developed by OTBC.
Coaching from startup CEOs and investors, and OTBC’s team of 20+ coaches.
Weekly lunches with investors and start-up CEOs throughout the program.
Pitch coaching from investors, and from OTBC’s coaching team.
Ending with a demo day where participants will pitch a room full of investors.
Sound interesting? Just email answers to the following questions to firstname.lastname@example.org to apply. Applications close March 31.
- What is your name, mailing address, and phone number?
- What is your company’s name and URL (if any).
- In 150 words or less, what does your company do?
- Who is your customer and what is the unmet need you are addressing?
- How do you address that need – and what makes you different than other solutions?
- Who is your competition?
- What is your competitive advantage?
- What prevents someone else from doing what you’re doing?
- How will you acquire customers?
- Describe your business model – how will you make money?
- How long have you been working on this company?
- Describe your accomplishments so far. Do you have a demo? (If there is an online demo, what is the URL?)
- What are the biggest risks in your business? (i.e., what keeps you up at night)?
- Tell us about each founder: name, age, school, degree, email address, and (if they have any of the following) personal URL, Twitter ID, Facebook ID, and present employer and title
- What products or companies have any of you built before?
- How long have the founders known one another and how did you meet?
- Have you set up a legal entity? What kind? (C corp, S corp, LLC, etc.)
- Describe your current stock ownership (founders and investors).
- What fund raising goal do you have for the next 8 months?
- If you were to raise money in the next 8 months, exactly what would you do with the funds?
- Are there commitments that would prevent your team from focusing on your company full time during the 3 months of the boot camp (April 4-June 24)?
- Why should your company be an Oregon TechLaunch company?