BEAVERTON, Ore. – Frontier Communications (NASDAQ: FTR) has joined the Beaverton $100K Challenge as the first corporate sponsor. The city and startup incubator Oregon Technology Business Center (OTBC) have teamed up to create the Beaverton $100K Startup Challenge. Frontierwill provide 1 gigabit FiOS service to the OTBC incubator offices for the startups chosen in the challenge for one year.
The challenge is also sponsored by the city and Westside Startup Fund, LLC, and each will contribute $50,000 to help five startups kick start their business with coaching and mentoring support from the OTBC. Applications are due Wednesday, Sept. 30.
“It’s so gratifying to see Frontier Communications supporting our $100K Startup Challenge,” said Mayor Denny Doyle. “I often talk about how Beaverton is ‘Open for Business’ and Frontier’s support is one more example of how our partners are willing to roll up their sleeves and help out small businesses.”
For the past five years, Frontier has provided complimentary service to OTBC and will be adding another circuit for the OTBC’s conference areas by the end of the year. Speeds up to 1 Gig are critical as business customers want to spend less time waiting for uploads and more time taking care of and growing their business.
“Frontier is pleased to sign on as the first corporate sponsor in support of the Beaverton Challenge,” said Frontier General Manager Jeanne Danielson. “As one of the first broadband providers to bring download speeds of up to 1 Gig to the City of Beaverton, it is fitting that our sponsorship provide 1 Gig service to the five startups chosen in the Challenge.”
Danielson continued saying, “Every business needs high-speed internet to be successful these days, not only for day-to-day operations, but for everything from sales to marketing to customer service, access to the cloud for data storage and backup, and more, and Frontier is committed to fulfilling those needs.”
Five startups will be selected to receive a $20,000 cash convertible-note investment along with incubation services and free rent for one year at the OTBC. For-profit, early-stage growth businesses with the ambition and potential to scale into national and international markets are encouraged to apply. Applicants must have a two-to-five member team 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. Five startups will win:
· $20,000 cash convertible-note investment
· Free rent for one year
· Discounted legal and accounting services
· HR and marketing assistance
· Gigabit speed internet (100 times faster than typical internet connections today)
· OTBC’s top-rated coaching and mentoring services
· OTBC entrepreneur workshops, and more
Applications are due Wednesday, Sept. 30, 2015. Semifinalists will be selected by Oct. 15, 2015 and the five winners will be announced by Nov. 15, 2015. To apply, visit otbc.org/
The Oregon Technology Business Center (OTBC) is a decade-old nonprofit tech startup incubator that provides coaching, networking events, entrepreneurship programs and shared office space to help startup ventures succeed.
According to a 2013 Oregon Founders Study, OTBC is the highest-rated incubator in Oregon for effectiveness in its mentoring programs—providing a unique combination of CEO mentoring, referrals to a large network of founders and domain experts and practical how-to entrepreneur workshops and videos. The hands-on attention and nurturing business environment helps startups become successful businesses. OTBC alumni include many outstanding companies such as Puralytics, Lumencor and Sonivate. With strong connections to the City of Beaverton, the Beaverton Area Chamber of Commerce and more, OTBC is the ideal partner to help startups develop and grow their businesses in Beaverton.
Beaverton is home to a large number of growth companies started by local entrepreneurs, including technology and manufacturing companies known throughout the world such as Act-On, Digimarc and Vernier Software & Technology.
The City of Beaverton is a founding sponsor and the OTBC facility is conveniently located across the street from the Beaverton Central MAX station, with free parking and easy access to Highway 217.
For more information, please visit www.otbc.org.
# # #