The Westside Startup Fund provides the investment vehicle for the Beaverton $100,000 Startup Challenge. The City of Beaverton invests $50,000, via OTBC, in the fund and we then raise additional funding from investors to reach funding goal. These funds are used to make investments in five Beaverton Challenge winners.
Each year we create a new LLC to as the investment vehicle for that year’s Beaverton Challenge. For the 2016 Beaverton Challenge, we created the Westside Startup Fund, LLC, matched Beaverton’s investment with $50,000 from 7 angel investors, and invested in DroneSeed, QuickBeam, goumikids, Cliqa, and Senaptec.
For the 2017 Beaverton Challenge, we created the Westside Startup Fund 2, LLC, matched Beaverton’s investment with $75,000 from 12 angel investors and invested in 5 additional startups: BrightWork, Liquid Wire, Omics Data Automation, C3 Backflow and Versi.
Accredited investors are invited to contact OTBC for more information on the Westside Startup Fund.