The third leg: Entrepreneurship in Central Oregon
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Bend Rotary : September 25 th 2013
description
Bend Rotary : September 25 th 2013. The third leg: Entrepreneurship in Central Oregon. The third leg of EDCO. Recruitment Retention Entrepreneurship. Venture Catalyst Manager. Why important?. With few large employers in Central Oregon, entrepreneurship is critical for job growth. - PowerPoint PPT Presentation
Transcript of The third leg: Entrepreneurship in Central Oregon
Bend Rotary : September 25th 2013
RecruitmentRetentionEntrepreneurship
Why important?
With few large employers in Central Oregon, entrepreneurship is critical for job growth
Courtesy Pat Scruggs
Startup Growth Sustainability
Connecting The Dots:
Support scalable startups in the traded sector to access financial and human resources
Entrepreneur
Programs:
Run EDCO’s programs for entrepreneurs: Stable of Experts, PubTalks, Bend Venture Conference
Create/Build
Infrastructure:
Strategic goal to develop and support long-term infrastructure
Target Companies Export/Traded sector Scalable: the pizza parlor vs. an innovation
to help all pizza parlors All sectors: tech, consumer, you name it! Is it innovative? Does it solve a real
problem? Connecting the dots: access to human
and $$ capital Nearly 200 meetings with
entrepreneurs last year
Pub Talks Very popular casual event that
highlights start-ups Opportunity for start-ups to get
exposure and experience Held 8 times a year through-out the
region Average attendance this year 105 vs. 77
last year
Stable of Experts: mentors on demand Currently 90 mentors; up from 62 in
2011 66 referrals made in last fiscal year Broad array of pro-bono expertise Grow Oregon partnership with SBDC Other resources
Concept
Stage
Upstart
Day
Pub Talk
5 finalis
ts
Launch
Stage
Investor Due Diligen
ce5
meetings
5 finalis
ts
LLC Investme
nt
BendBroadband Award
Bend Venture ConferencePub TalksBVC Concept Stage AwardBVC Up Start DayRevitalized Tech AllianceStart-Up WeekendCRAFT3– non profit CDIF lenderFoundersPad—tech accelerator
# Companie
s
Funding To Date
# of Employee
s (new jobs)
Location
Session 1.0
6 $370,000 16 Founders from Bend
Session 2.0
5 250,000 8.5Founders from
NY, LA and Seattle
Session 3.0
7 tbd tbd tbd
TOTAL11
$620,000
24.5
Provide small amounts of capital ($25k-$250k)
Mentoring linked to specific milestones Support for early stage companies
(bridging the investment gap from earliest stage to growth stage)
Minimum of 90% of investable dollars dedicated to rural Oregon (defined here as outside of Portland metro)
Angel fund based on Bend Venture Conference principals
Angel drivenYear round investingLike BVC broad range of potential
companies 30 investors have either expressed
commitment or strong interest in investing
Lifecycle StagesOrganic(Idea Generation/ Education)
Pre-Seed (Concept)$0-$10k
Seed/Start-up $10k-$250k
Growth
$250k-$2mm
Expansion
+ $2mm
Lifecycle StagesOrganic(Idea Generation/ Education)
Pre-Seed (Concept)$0-$10k
Seed/Start-up $10k-$250k
Growth
$250k-$2mm
Expansion
+ $2mm
EDCO/VCM FoundersPad Accelerator
Oregon Seed Fund (planned)
Regional Angel Fund(planned)
Lifecycle StagesOrganic(Idea Generation/ Education)
Pre-Seed (Concept)$0-$10k
Seed/Start-up $10k-$250k
Growth
$250k-$2mm
Expansion
+ $2mm
EDCO/VCM FoundersPad Accelerator
Oregon Seed Fund (planned)
Regional Angel Fund(planned)
•Tech Alliance•CEED•Start-Up Weekend•OSU-Cascades
•BVC Concept Stage
•TechSpace Bend•SBDC•Business Oregon •PubTalks•CRAFT3
•BVC Launch•Oregon Angel Fund•Regional Angel Conferences•Banks
•Venture Capital•Debt Funds•Private Equity
Funding—thank-you! Bank of the CascadesDeschutes County City of BendEDCO
Thank You
