What Would Your Startup Do With $250,000 in 2009?

I attended the event with 75 or more Oregon's entrepreneurs on Tuesday evening April 7th, at 5:00 PM at the Higher Education Center RCC/SOU to explore and answer the question "What Would Your Startup Do With $250,000 in 2009?"

I was impressed by the quality of presentations and the numerous great ideas being generated in the Rogue Valley.
I heard stories of successful, local homegrown companies that have either bootstrapped or raised funds and then grown themselves to success. As most entrepreneurs understand raising capital is a most gruesome process, time-consuming and expensive. It also takes focus and attention away from building your company.

A few local entrepreneurs presenting:

• Barefoot Motors (electric ATV)
• Clean Solutions (waste management)
• Cy-Car
• Deux Chats (baked goods)
• Glide Cycle
• Grizzly Peak Adventure Program
• Human Bean (coffee franchises)
• Local Dish
• Medical Alert Bracelet
• Oregon Film Commission (office in southern Oregon suggested)
• Oregon Green Festival
• Planet U
• Resources for Financial Advisors
• Shop Dragon
• Southern Oregon Creative Co-Op (70,000 sq foot facility for shared office/production spaces; 17,000 sq foot woodshop and 3,700 sq foot sound studio in Medford, Oregon)

I gave a short presentation on behalf of Global Business Development Services, or GBDS.US, the developers of the Ashland Resource Center. In attendance were no less than six clients of ours as well.

In the last 6 months the economy, access to capital, the cost of talent and the opportunities for innovation have all changed. We think it’s time for the relationship between entrepreneurs and the State of Oregon to change, too. The state needs jobs and entrepreneurs need capital!

The goal of this event was to prove to the State of Oregon that there are enough jobs, compelling ideas and entrepreneurs to warrant an immediate investment of $100,000,000 for start-ups that want to hire local talent. Several weeks ago a similar event was hosted in Portland, Oregon with over 300 in attendance. The Mayor of Portland had to be turned away for lack of seats.

Start-up Oregon is working to raise a $100M fund that makes small investments in Oregon-based companies who hire Oregon-based employees. Our goal is to do this in 2009, not next year or some vague point in the future. In growing these new start-ups, we are investing in innovation, creating jobs and building Oregon’s brand with innovators and entrepreneurs.

Surveys were distributed and 50 or more entrepreneurs completed them and answered the following questions:

1. Could your company hire $250,000 worth of Oregon-based talent in 2009 to get it to the next level?
2. What could your company achieve during 2009 with a $250,000 investment?
3. How many new jobs could we create if 400 new Oregon startups were funded?
4. How would you like to see $100,000,000 invested in Oregon startups?

Harvey Mathews, Formerly of Software Association of Oregon, had raised $100m venture fund from the State of Oregon in the past, but unfortunately it was not properly deployed or administered. Startup Now! Oregon would like to correct that this time around.

• 100 - 400 companies could be funded between $25,000 - $250,000 from sources such as: Oregon Investment Council, Oregon Growth Account, Oregon Investment Funds and various Family Foundations.
• 3000+ living wage, professional-level salaried jobs could be created by investing in these companies.
• Startup Now! Oregon is working to raise a $100M fund that makes small investments in Oregon-based companies who hire Oregon-based employees. In growing these new startups we are investing in innovation, creating jobs and building Oregon’s brand.

Some of the principle presenters during the evening included:

Harvey Mathews, Formerly of Software Association of Oregon - harvey.mathews@gmail.com (503) 999-5849
Josh Friedman, NedSpace - josh@bw-mn.com (503) 705.7975
Paul Mace, Navaware - paul@navaware.com (541) 840-2994
Wayne Embree, RefCapLLC - wle@refcapllc.com (503) 619.4310
Mark Grimes - mark@bw-mn.com (503) 502.0185

Brought to you in part by SOREDI, Jefferson Grapevine, Capybara Ventures, NW Technology Ventures, NedSpace, Oregon Angel Fund, Oregon Entrepreneurs Network, Starve Ups Reference Capital and the Software Association of Oregon. HEC was proud to host an Oregon entrepreneurial startup event during this unparalleled time of economic disruption. Be a part of this unparalleled movement!

Marybeth Buonassissi, Office Manager
~ Southern Oregon Regional Economic Development, Inc. (SOREDI)
673 Market Street, Medford, OR 97504
(541) 773-8946

Capital & Development Resources:
Capybara Ventures
Global Business Development Services
Jefferson Grapevine
Oregon Entrepreneur's Network
NW Technology Ventures
NedSpace
Oregon Angel Fund
Southern Oregon Regional Economic Development (SOREDI)
Startup Now! Oregon

Local/Regional Networking Groups:
Business, Economics & Money
Development
Energy, Shelter & Infrastructure