WHAT: The “2011 Portland State Business Accelerator Company Showcase: Stories of Launch and Growth” featuring companies in bioscience, technology and clean tech displaying their wares and pitching their businesses to top West Coast venture capital firms, angel investors and interested partners.
WHEN: 4 to 7 p.m. Wednesday, Nov. 16
WHERE: The Portland State Business Accelerator (PSBA), 2828 S.W. Corbett Ave., Portland (corner, S.W. Meade and Corbett).
BACKGROUND: Venture capital firms from throughout the West Coast, and local individual investors and supporters of entrepreneurs have been invited to gather at the PSBA to meet with fledgling businesses hoping to take their start-up companies to the next level of success. Last year, 40 percent of all venture capital coming into the state was for companies housed at the PSBA according to Angela Jackson, manager of the accelerator.
PSBA supports start-up science and technology companies by providing them with affordable office and lab space, and links them with PSU faculty and students as well as specialized services from the business community.
There are 25 client companies at the accelerator and 11 virtual affiliate members. In 2010, PSBA companies employed the equivalent of 168 full-time workers, generated $5.2 million in revenue, raised $68 million in private capital (nearly all from outside Oregon), and secured $6 million in public grant funding.
PSBA has helped PSU faculty turn their research into marketable products, including:
• APDM, started by PSU engineering professor James McNames. The company develops products to help in the caring of Parkinson’s Disease patients.
• DesignMedix, Inc., a start-up by PSU chemistry professor David Peyton, which is developing new drugs to combat malaria and other infectious diseases.
“We think it’s significant that not only PSU but OSU, UO and OHSU are all using the accelerator. We are providing services to a unique mix of companies in a way that nobody in the state can,” Jackson said.
Companies that have “graduated” from PSBA and moved on to their own facilities include Jama Software, which was named a Top 20 Software Company on the “Inc. 500 Fastest Growing Private Companies” for 2011; and Giftango, which develops a platform for virtual e-Gift and loyalty cards.
CONTACT: Scott Gallagher, Director of Communications, 503-725-8789, email@example.com
About Portland State University (PSU)
Located in Portland, Oregon, PSU has about 30,000 undergraduate and graduate students. PSU’s motto is “Let Knowledge Serve the City,” and it provides every student with opportunities to work with businesses, schools and organizations on real-world projects. Its downtown campus exhibits PSU’s commitment to sustainability through green buildings and business practice. Sustainability is incorporated into much of PSU’s curriculum.