Portland startups, open source, and tech news, jobs, and events #pdx
While Founders’ Co-op is headquartered in Seattle, the fund regularly puts money to work in Portland. So when I hear the news that they have more money to put to work, I always remain hopeful that they’ll continue that trend of investing here. Because Founders Co-op has $50 million to invest from their latest fund.
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Global startup accelerator program Techstars has grown to the size that there always seems to be an application period open or a new class starting. But there’s one Techstars program in particular that often has a Portland startup among its cohort: Techstars Seattle. And the 2021 cohort is no different. Portland’s Edify is part of this class.
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“Risk averse. Conservative.… Out of touch.” They’re all complaints I’ve heard from Portland startup founders when describing the earliest stages of raising capital around these parts. But I always assumed that Seattle — with its extensive tech presence of major headquarters and massive regional offices — was a better environment. Apparently, it’s not. Those quoted comments are Seattle startup founders describing their Angel investment community.
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Last week, we heard that three Portland startups had been selected for Techstars programs. This week, we heard that a fourth Portland startup, Caravel, had been picked to participate in a third program, Techstars Seattle.
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Okay. Maybe today isn’t the best day to be writing about Seattle and Portland. (Sorry, Flounders.) But earlier today, I had the opportunity to post about early stage Seattle fund Founders’ Co-op investing in Portland’s Brave Care. So it seemed to be the perfect time to do a “speaking of Founders’ Co-op…” sort of post.
Well, at least we’re consistent. We never managed to get Google Fiber. Even though we submitted an RFP, we weren’t even really in the running for Amazon HQ2. And now, we just missed being the fourth location for the Backstage Capital Accelerator.
While our only local connection to Techstars programs was a brief stint as the home of the first powered by Techstars accelerator, Portland startups have long had great collaborations with Techstars programs all over the place. With Portland folks heading off to Techstars programs in Seattle, San Antonio, New York, Chicago… the list goes on an on. Now, you’ll have the chance to meet with three different program leads to get all of your Techstars related questions answered—but without leaving town.
As much as I love our Portland companies, I’m even happier when they can expand their markets by exporting their goods and services to other communities. It doesn’t matter if they’re tech, creative, food & beverage… you name it. Being part of the “traded sector” helps Portland. So you can only imagine how happy I was when I heard PitchBlack was being shared with other communities as well. They’ll be in Seattle on Wednesday night as part of Techstars Startup Week Seattle.
It’s pretty common practice to have folks from the north and south visit Oregon. And in recent years, it’s even become common for capital to flow into the state from investors in those neighboring states. But it’s still rare to see Oregon investors expand to other regions. But that’s exactly what Seven Peaks Ventures is doing.
In the world of startups, it’s common for founders to seek out the path that promises the most opportunity with the least resistance — even if that means leaving their hometown to find help. Startup accelerators are often one of these helpful resources. And no outside accelerator program has helped Portland startups more than Techstars. And that’s why it’s always nice when Techstars Seattle is in town looking for more folks to help.