Building Ten $1MM Tech Startups in Portland by 10/2010

Portland’s tech startup scene has two problems:

Investors: “There aren’t enough fundable startups”

Founders: “There’s not enough seed funding”

It’s a chicken and egg problem:

Investors don’t fund companies until they clearly demonstrate potential

to deliver ROI

Founders struggle to commercialize high-growth opportunities without investor support

Of the 3 main participants in the startup ecosystem,

which is most likely and ableto act first to change this?

GEEKS FOUNDERS INVESTORS

To answer that question, it’s important to recognize the main role each plays:

Build cool technology

Identify and pursue a

commercializable opportunity

Fund a capable team with traction that can generate

ROI

GEEKS FOUNDERSINVESTORS

We believe founders create viable opportunities for geeks & investors,

so our work begins there.

Build cool technology

Identify and pursue a

commercializable opportunity

Fund a capable team with traction that can generate

ROI

GEEKS FOUNDERSINVESTORS

Portland Ten’s answer to strengthen our local startup community is

work with founders–

to strengthen their ability to identify, pursue, and manage commercializable opportunities.

Our philosophy is simple:

An engine is required for driving a car; fancy paint, however, is optional.

The core functions of an early-stage tech startup, what we call, “the engine”—

look something like this from a 10,000 foot view…

Exposure to a demographic or

industry withmonetizable

problems & gaps

Problemneed

Gap unmet

Define rev model

Founder(s)

Committed

Able

get specs

from user

Scope Project

Identify test users

Deploy Basic

Sales Pro

cess

Milestones

MVTeam

MVTimeline

MVResources

Litmus Test

Cap Liabilities

Prove Team

Gauge Metrics

Get pre-co

mmitments:

P.O., L

OI, Down Paym

ent

Create usable w

irefra

mes that p

roduce

/deliv

er value

Define Minim

um Viable Concept/P

roto

type

Rapid development &

release

of MVP

Exchange value

Get testimonial

Public Launch!

Scalable need exists

We can deliver

Let’s do v 2.0

(Closed) L

aunch of a

lpha/beta M

VP

Built

Launch

ed

Works

Used

Value

$ Trans.

Feedbac

k

OPS

SALES

DEV

UX

MKTG

FIN.

ITER

Clarify

conce

pt

3rd

PARTY

Prove conceptLAUNCH

Confirm need

Refine value prop

Apply Reso

urces

Prep v 2.0

Ops in place

Runway in place

Triage ConceptEngineer S

olution

Team built

For founders with limited experience and funds,

juggling everything is pretty daunting—

It can be difficult to successfully take a viable project through the

commercialization process.

We help founders:

Clarify and align their concept

Commercialize and manage a project at the $1MM or more level.

Plan and execute milestones in 90-day increments

Internalize and apply best practices from venture capital, bootstrapping, and project

management methodologies.

Our metrics for success is to assist ten founders in getting to $1MM in revenue by October 2010.

“10 by 2010.”

We require that participating founders commit to this goal, and we commit our own

resources, network, and reputation to reach this goal.

Basics of The ProgramFirst 3 Months

Weekly Founder's Group Metrics Board Tracking Sales/Market Validation2 Task Sessions/Week Weekly 1-on-1 Check inSpecial guests & eventsMonthly Friends & Family SocialMonthly Founder’s LunchMonthly Startup Checkup3 startup books & an Uncalendar90 Day MilestonesGoogle group

15 Months Post-Incubation Follow Up

3 Months of Advisor Check Ins 12 Month MilestonesGoogle group Closing board meeting 15 Months Metrics tracking Alumni pass to all future P10 events Monthly Founder's Group Access to P10 network

Timeline/Founder CommitmentsTimeline

Applications accepted: beginning May 11

Candidates selected: by June 1

12 week session: June 8-August 30

Founder Commitments

Program tuition: $500/month for 3 months

Participation commitment: 6-8 hours per week for 12 weeks

10 by 2010 commitment: Founders commit to the goal of generating $1MM in revenue by October 2010.

What Our Founders Say

Ben Parzybok, WalkerTracker

“From the perspective of having successfully put together aboot-strapped product, I was particularly interested inPortland Ten to learn about taking the project to a new level.My short term goals include working through the enterprisesales cycle, understanding best-of-breed practices for startupsand connecting with a community that is undergoing the sameprocess. Portland Ten has been an invaluable help as WalkerTracker re-envisions its objectives and gets on task."

Kenneth Beare, Lingofeeds

“Portland Ten is driving me to understand Lingofeeds from allangles. It’s exhilarating, challenging in the extreme, andbrutally honest at all times. Most importantly, it is helping meput the pieces together to form a successful online venture."

John Metta, Hydrasi

"Portland Ten is a group focused on razor sharp honesty. You

call them reasons and learn that they are excuses. You callthem obstacles and learn that they are your own fears. You

call them gold and learn that they are just really horrible, horrible ideas. It’s hard and often painful, but so is starting a company and I’d rather take the hard knocks in a room full of peers than one full of angry investors who learned too late that there’s no market for my product.“

Dave Miller, Giftofile

"First and foremost Carolynn Duncan’s Portland Ten bootcamp is a hell of a deal. The training is fun, challenging, and comprehensive, with plenty of one-on-one problem solving. I’m learning a ton and having a great time doing it."

Staff & Advisors

Carolynn Duncan, Director

Serial entrepreneur and subject matter expert in venture capital and angelinvestment. Hundred Dollar Business, FundingUniverse.com, Eastern Idaho Entrepreneurial Center.

Rob Wiltbank, Advisor

Angel investment expert, Wilamette University MBA program professor, and partner at Buerk, Dale, Victor venture fund.

Mark Grimes, Advisor

Serial entrepreneur and experienced angel investor. NedSpace, Ned.com, and Better World Media Network.

Josh Friedman, Advisor

Serial entrepreneur. BetterWorld Media Network, NedSpace, ElevenWireless, Starveups.

We enjoy working to strengthen Portland’s startup, tech, and investment communities.

If you’d like to get involved with Portland Ten or recommend a founder for the 10 by 2010 bootcamp,

please contact us.

You can also follow updates via Twitter or our blog.

To apply for the current summer session, submit an application at http://www.portlandten.com/apply