Portland Ten: First 18 Months


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Overview of the Portland Ten, "10 at $1MM in 18 months" initiative, February 2009-August 2010.

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Portland Ten: First 18 Months

  1. 1. “10 startups at $1MM by 10.10.2010”<br />First 18 Months: February 2009-August 2010<br />
  2. 2. mission:<br />get ten portlandstartups<br />to $1MM in revenue<br />within 18 months<br />
  3. 3. Intro: Portland Ten<br />Entrepreneur development organization with the mission to get 10 Portland companies to $1MM within 18 months.<br />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.<br />Profile client: ShopIgniter, $3MM of venture capital within 6 months of graduating, exceeded $1MM in revenue within 12 months. <br />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.<br />Grant by Portland Development Commission: $35,000, May 2010. <br />
  4. 4. The P10 Team<br />Staff: Carolynn Duncan, Nick Cottle, Jennie Kalberer, Madeline White<br />Advisors: Mark Grimes, Rob Wiltbank, Diane Fraiman, Gerald Baugh, Kristin Wolff<br />
  5. 5. Staff<br />Carolynn Duncan, founder & Director<br />Nick Cottle, Business Development Manager<br />Jennie Kalberer, Sprint Program Manager<br />Madeline White, Office Manager<br />Advisors<br />Mark Grimes, NedSpace<br />Rob Wiltbank, Willamette University<br />Diane Fraiman, Voyager Capital<br />Gerald Baugh, Portland Development Commission<br />Kristin Wolff, Econ Dev Specialist, Thinkers & Doers<br />
  6. 6. 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<br />Partners: Willamette University, Portland Development Commission, OEN, Startup Weekend,  NedSpace, FundingUniverse, Mercy Corps NW, BackSpace, The Green MicroGym, CorePower Yoga, & Seven Planet.<br />
  7. 7. What We Do<br />We find and develop high performance entrepreneurs and startup teams in the $0 to $1,000,000 revenue range.<br />High growth ventures: (have the potential to raise angel or venture capital and hit $20MM-$100MM)<br />Lifestyle businesses: ($300,000- $5,000,000 annually)<br />Sole proprietorship/small businesses: $40,000-$300,000<br />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.<br />
  8. 8. The Core Programs<br />Portland Ten: for high growth ventures.12 week mentoring + 15 months alumni support. Realign management team, build<br />operational capacity, drive revenue, prep for angel/venture finance.<br />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.<br />Checkups & Skill Development: for all. Diagnose gaps & structural weaknesses in the business, direct entrepreneur to attend Skill Dev workshops to strengthen these areas.<br />
  9. 9. Qualities of P10 Alumni<br />Committed to taking on the financial and leadership responsibilities of employing themselves & others.<br />Able to make sales and actively plan out & hit core startup development milestones.<br />Teachable, trained, and have survived a grueling 6-12 week screening process.<br />Give back to their peers and the business community through participating in and leading startup events.<br />
  10. 10. 2009-2010 Case Studies<br />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.<br />Kate: sole proprietor, went from $0 to $7K/month in consulting revenue within 3 months of Six Week Sprint and has maintained it.<br />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.<br />
  11. 11. Photos from 2009-2010<br />The following photos are from events & activities we’ve been at during the past 18 months, as we’ve had the opportunity to meet <br />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.<br />
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  27. 27. thank you, Portland…<br />it’s been an amazing 18 month experience<br />
  28. 28. For more information, contact<br />Carolynn Duncan<br />Director, Portland Ten<br />cduncan@portlandten.com<br />www.portlandten.com<br />www.twitter.com/portlandten<br />