Portland Ten: First 18 Months

“10 startups at $1MM by 10.10.2010”
First 18 Months: February 2009-August 2010

mission:
get ten portlandstartups
to $1MM in revenue
within 18 months

Intro: Portland Ten
Entrepreneur development organization with the mission to get 10 Portland companies to $1MM within 18 months.
30 alumni, 5 cycles of 2 bootcamps (Portland Ten, Six Week Sprint), 25 Community Partners & Sponsors , 5 advisors, 5 staff, 10 volunteers, started Feb 2009.
Profile client: ShopIgniter, $3MM of venture capital within 6 months of graduating, exceeded $1MM in revenue within 12 months.
Partners with PDC, NedSpace, OEN, Voyager Capital, Willamette University, Mercy Corps NW, Perkins & Company, Davis, Wright Tremaine, Silicon Valley Bank, Startup Weekend, Civic Apps, FundingUniverse, and many more.
Grant by Portland Development Commission: $35,000, May 2010.

The P10 Team
Staff: Carolynn Duncan, Nick Cottle, Jennie Kalberer, Madeline White
Advisors: Mark Grimes, Rob Wiltbank, Diane Fraiman, Gerald Baugh, Kristin Wolff

Staff
Carolynn Duncan, founder & Director
Nick Cottle, Business Development Manager
Jennie Kalberer, Sprint Program Manager
Madeline White, Office Manager
Advisors
Mark Grimes, NedSpace
Rob Wiltbank, Willamette University
Diane Fraiman, Voyager Capital
Gerald Baugh, Portland Development Commission
Kristin Wolff, Econ Dev Specialist, Thinkers & Doers

Sponsors: Davis, Wright, Tremaine, Olsen Group, Perkins and Company, Stephenson Group, Amy Winkelman Consulting, Profit Guide, Voyager Capital, Silicon Valley Bank, Herd, Freed, Hartz, laPLANette, Cybertary, White & Lee, and Wealth Strategies NW
Partners: Willamette University, Portland Development Commission, OEN, Startup Weekend, NedSpace, FundingUniverse, Mercy Corps NW, BackSpace, The Green MicroGym, CorePower Yoga, & Seven Planet.

What We Do
We find and develop high performance entrepreneurs and startup teams in the $0 to $1,000,000 revenue range.
High growth ventures: (have the potential to raise angel or venture capital and hit $20MM-$100MM)
Lifestyle businesses: ($300,000- $5,000,000 annually)
Sole proprietorship/small businesses: $40,000-$300,000
We work with entrepreneurs in all industries, from all walks of life. Our requirement are that they are teachable and commit to build a financially viable, stable business.

The Core Programs
Portland Ten: for high growth ventures.12 week mentoring + 15 months alumni support. Realign management team, build
operational capacity, drive revenue, prep for angel/venture finance.
Six Week Sprint: for lifestyle businesses, sole proprietors & small businesses. 6 weeks mentoring. Realign founder's business management style, drive revenue, increase financial literacy of business owner.
Checkups & Skill Development: for all. Diagnose gaps & structural weaknesses in the business, direct entrepreneur to attend Skill Dev workshops to strengthen these areas.

Qualities of P10 Alumni
Committed to taking on the financial and leadership responsibilities of employing themselves & others.
Able to make sales and actively plan out & hit core startup development milestones.
Teachable, trained, and have survived a grueling 6-12 week screening process.
Give back to their peers and the business community through participating in and leading startup events.

2009-2010 Case Studies
ShopIgniter: started with a team of 3 at $300K in revenue. Within 6 months have raised $3MM in venture capital, launched 2nd product, built team , hit $1MM in revenue within 12 months.
Kate: sole proprietor, went from $0 to $7K/month in consulting revenue within 3 months of Six Week Sprint and has maintained it.
Rob: sole proprietor, decided he didn't want to run a business, found a $70-$80K/year job at a stable company instead & was hired within 2 weeks of graduating.

Photos from 2009-2010
The following photos are from events & activities we’ve been at during the past 18 months, as we’ve had the opportunity to meet
with entrepreneurs in Portland’s startup ecosystem, including Founders’ Coffee, Venture Northwest, launch parties with our companies, Portland Ten events, our alumni Founders’ Group, lunch with Jive software, and more.

thank you, Portland…
it’s been an amazing 18 month experience

For more information, contact
Carolynn Duncan
Director, Portland Ten
cduncan@portlandten.com
www.portlandten.com
www.twitter.com/portlandten

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Portland Ten: First 18 Months

by portlandten on Oct 19, 2010

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Portland Ten: First 18 Months — Presentation Transcript