The Portland 100 is an initiative to scale Portland's most promising young firms and establish a robust pool of local companies. The program was formulated by Nitin Khanna about a year ago and with the help of Portland Development Commission has kicked off its initial class. What is the 100 in Portland 100? During the kickoff meeting Nitin explained,“The 100 in Portland 100 signifies $100 million. You (the companies) in Portland 100, are the companies that we believe can reach a $100 million in valuation or revenue in three to five years. We are here because we believe in you and believe this program will help you get to and exceed this level that has been such a rare occurrence for Portland companies in the last 2 decades.”
2. Agenda
• Business Case
• Goals & Objectives
• Program Overview
• Roles & Responsibilities
• Timeline
3. Business Case
Entrepreneurial Increase in Small PDX lags
Spirit Firms SEA, SFO & Austin
Fortune 500
Struggle to scale Decrease in
start-ups large firms
Firm Size (Tech)
Technology Executives
Venture Capital
4. Goal
Help position Portland startups to achieve
annual revenues or liquidity events of
$100m or greater in 5 years
5. Objectives
• Scale region’s most
promising startups
• Increase pool of investors,
mentors, executives & serial
entrepreneurs
• Create high paying jobs
• Brand & support the
region’s startup ecosystem
6. Target Company
Industry Software Tech (other industries later)
Existing Revenue $100K to $5M + annually
Revenue Growth Greater than 50% per year
Venture Financing Post Series A preferred
Location City Portland
Addressable Market $100M or greater
Intangibles Proven management; seeking mentorship
7. Core Services
Capital Executive Talent
• Attract VC to portfolio • Executive talent “fly-in”
companies event
• Investment trips to VC • Job road shows or
hotspot (SV, Seattle, etc.) targeted outreach
Mentoring
Formal & Informal components
• Semiannual review •Informal mentoring
- Internal (Financials, HR) - Regular meetings
- Legal - Executive guidance
- Sales/Marketing - Networking
- Product Development
Connect to additional support & resources as needed
8. Strategic Branding
• Elevate Portland startup scene
• Focus on profiling the companies
• Contract with strategic communications firm to:
Consult with Portland 100 stakeholders to develop key
messaging and brand value proposition
Provide direction on collateral: marketing book, company
videos & web presence
Engage local, national and international media outlets
9. Who is Portland 100?
Executive Committee Ambassadors
Nitin Khanna Elemental Technologies
Scott Kveton Urban Airship
Chris Logan Puppet Labs
Brewster Crosby Janrain
Skip Newberry ShopIgniter
Patrick Quinton Giftango
Participants Mentors
Simple – Josh Reich David Childers
Cloudability – Mat Ellis Pete Grillo
Meridian – Kiyo Kubo Holly Files / Sydney Joyner
Chirpify – Chris Teso Monica Enand
Athletepath – David Embree Kanth Gopalpur
Vizify – Todd Silverstein Bill Lynch
10. Stakeholder Expectations
• Executive Committee
- Set overall direction of program
• Ambassadors
- Serve as a beacon for strategic branding efforts
- Networking and introductions to investors & influencers
• Mentors
- Perform semiannual review
- Provide “informal” mentoring
• Participants
- Participate in strategic branding
- Attend investment trip & talent fly-in events
- Willingness to be mentored & participate in company
review
11. Proposed Timeline
Community
Discussions & Kick Off Meeting Investment Trip Talent Fly-In
Business Plan (July) (fall/winter) (spring/summer)
2011 2012 2013 2014
Program Launch 1st Co. Review 2nd Co. Review Evaluate
(May) (fall) (spring) Program
& Repeat
Services
Editor's Notes
Focused on increasing the export of products and services from businesses located in our metro region
Pilot Program
Decent Anecdotal evidence; no silver bullet with dataBetween 2000 & 2008 - increase in number small firms; decrease in number of larger firmsScant number of Fortune 500 firms that have risen in Portland in the recent past. SEA – MSFT, AMAZON, COSTCO, STARBUCKS, NORDSTROMSFirm Size = greater percent of small firms in tech/software; smaller percent of large firmsTechnology Executives (2011) = PDX 205; Seattle 913; Austin 1061; SFO; 2900No. Venture Backed Deals (Metro) = PDX 35; SEA 170; Austin 182; SFO 626VC per Capita (2010) = PDX $47; Seattle $104; Austin $166; SFO $416
Increase local firms with successful exit or significant revenues
Increase local firms with successful exit or significant revenues
Who is a Portland 100 company
Online formDue diligence checklistAccess to key service providers
Communications firm: - Will be seeking access to Portland 100 stakeholders to develop key messages and value proposition statements
Executive – mentor/mentee selection process; advise on trips / fly-ins; company review protocol; etc.Ambassadors – can participate in tripsMentors – access to service providers