The Oregon Growth Account is a public account funded by the Oregon State Lottery that is aimed at promoting growth throughout the state. The Growth Account's goal is to create jobs in Oregon through direct investment in Oregon companies and by spurring further outside investment.
In September, the Growth Account Board decided to direct those dollars to buoy Oregon's startup business community through a $4.5 million investment in the Oregon Angel Fund. The investment will be made over the course of three years.
The Oregon Angel Fund is a part of the Oregon Entrepreneurs Network, with more than 80 members. The Network, which has invested over $6 million in Portland startups since 2008, typically selects between four and six emerging companies to invest in each year. Prior successes include Portland-based startup companies like Jama Software.
For its part, the Growth Account touts that the 13 companies it has invested in since 2009 have more than doubled their work force.
If you have been involved in starting a company in Portland, you know that initial capital is as hard to come by as it is crucial to getting off the ground. Smart choices in terms of telling your story to investors, and finding the right investors to invest the right amount of dollars for the right return ... well, that's the name of the game.
The more dollars out there available for investment in emerging small startup businesses, the better.
Slinde Nelson is a Portland business law firm that focuses on legal representation for Portland startup companies and small businesses. In addition to its Portland branch, Slinde Nelson's recently opened Seattle office offers a team of Seattle business lawyers who help small and medium size businesses with day-to-day business and legal issues.