BEAVERTON, Ore. – The Oregon Technology Business Center (OTBC) is now accepting applications for the 2020 Beaverton Startup Challenge. Now in its fifth year, the annual Challenge provides five winning startups with a $25,000 investment, as well as residency, mentoring, networking opportunities and other services for one year.
The deadline to apply is Tuesday, October 1.
Applicants should be for-profit, early-stage growth businesses with the ambition and potential to scale into national and international markets. Together, previous winning companies have already raised more than $20 million in additional funding.
Last year, the Challenge drew more than 40 applications from startups interested in taking their business to the next level. It also attracted a record number of 21 angel investors and raised the largest Westside Startup Fund yet—$165,000 compared to $130,000 raised the previous year.
The Beaverton Startup Challenge began in 2016 and is sponsored by OTBC, West Side Startup Fund angel investors and the City of Beaverton. OTBC is a nonprofit startup incubator that provides expert-level coaching, networking opportunities and programs to help entrepreneurs succeed. OTBC also provides office space to local early-stage businesses and delivers its mentorship programs online throughout the state via the Virtual Incubation Program.
In 12 years, more than 110 new companies have been started at OTBC and 230-plus high-wage jobs created. OTBC client startups have gone on to raise more than $80 million in grant and investor funding.
To learn more and apply to the 2020 Beaverton Startup Challenge, visit www.otbc.org.