January 11th, 2012
PDC allocates more funding for the Portland Seed Fund
Good news for all of you startups who applied for the Portland Seed Fund. The PSF now has more funding for, um, funding.
According to The Oregonian, the Portland Development Commission has allocated an additional $200,000 in funding for the PSF.
The Portland Development Commission voted unanimously Wednesday to approve a $200,000 grant to the Portland Seed Fund, the private-public incubator for promising startups. The city has already invested more than a half-million dollars in the project.
The grant caps the fund’s second financing round, bringing its balance to $3 million. Its co-directors are culling through applications now to find the second group of portfolio companies.
For more information, see PDC approves $200,000 Portland Seed Fund grant.