The City of Beaverton, the West Side Startup Fund, and OTBC worked together to create the Beaverton Startup Challenge. Each year we select five Startup Challenge companies. We are accepting applications now for the 2022 Challenge!
The Challenge helps startups succeed–and it’s working. Our first 30 Challenge companies (2016-2021) have gone on to raise more than $55 million in funding!
The Beaverton Challenge is a program sponsored by the City of Beaverton and Westside Startup Fund, LLC where five startups will be selected to receive a $25,000 cash convertible-note investment along with incubation services from the Oregon Technology Business Center (OTBC). As of August, 2020, our first 25 Challenge companies (5 per year from 2016 through 2020) have closed more than $40 million in additional funding.
We begin accepting applications Beaverton Startup Challenge in August for the following year, select Semifinalists by mid October and the five winners are announced and the investments are made in early December. Residency at OTBC begins in late December or early January. Recognizing the financial challenge presented by Covid-19, we are waiving the $20 application fee for 2021 applications.
We are seeking for-profit, early-stage growth businesses with the ambition and potential to scale in a national or international market. Applicants should have two to five team members with at least one team member working on the startup full time. Applicants may be self-funded, grant-funded, and/or have investor funding of up to $250,000.
You need to be beyond the “idea” stage to where you have at least done a significant amount of customer-need validation, and meet the criteria described in the answer to the previous question.
As the home to both Tektronix and Nike, Beaverton is one of the most successful entrepreneurial cities in the state. The City of Beaverton is open for business and offers several services to help small businesses. As your company grows on the west side, you’ll benefit from some of the lowest business taxes in the Tri-County area.
At the Oregon Technology Business Center, 3800 SW Cedar Hills Blvd, Suite 260, Beaverton, OR. OTBC is conveniently located a short walk from the Beaverton Central MAX station,with easy access to highways 26 and 217.