After the quiet end to 2009, the first few weeks of 2010 have provided a cacophony of interesting news for the Portland startup scene. First and foremost has been the news of acquisitions. But there have been some other success stories, too. Like people finding funding.
And the latest startup to find funding will be a little meta for you. You see, this time around, it’s a startup that helps other startups that’s garnering the financial support. Portland Ten has secured $35,000 from the Portland Development Commission (PDC) to continue startup development efforts.
“PDC supports Portland Ten as an innovative way to help potential high-growth companies to increase direct revenues, attract investment capital and create high wage jobs for the local workforce,” said Bruce Warner, PDC Executive Director, in a blog post. “This results-oriented initiative will assist in the fulfillment of the city’s economic development strategy goal of entrepreneurial development for the region’s high-growth, small and emerging businesses in software, apparel, manufacturing and clean tech.”
And what happens when most companies get funding? Right. They grow. And Portland Ten is no different. They’re also expanding their service offerings by adding a number of new “Community Sponsors.” Those new partners include Olsen Group, Davis, Wright, Tremaine, Stephenson Group, Amy Winkelman Consulting, and Jim McConnell, CFO.
“Coming from a technology background, Portland Ten has helped me dive into the realm of a business development founder and has become paramount to our strategy to become a million dollar company at or before the end of next year,” said Alan Wizemann, founder of ShopIgniter and Portland Ten alum, in a blog post. “I highly recommend any new business to try to get into Portland Ten, you will be glad you did.”
Sound interesting? Well, if you’re a startup that’s interested in participating in the program, I’ve got good news: the next round of applications for Portland Ten is currently open.
And not to be too heavy handed about this whole thing, but I have to say, when startups are doing well—even startups designed to help other startups—that’s good news for all of us. Even better? When more traditional development organizations like the PDC begin to recognize—and, more importantly, fund—this kind of work, that seems like a very very good sign for the startup scene around here.
Here’s hoping this is just the beginning of a larger trend of involvement and funding that continues to facilitate the continued success of our startup environment.
For more information or to apply for the program, visit Portland Ten.