BEAVERTON STARTUP CHALLENGE

 The City of Beaverton, the West Side Startup Fund, and OSC worked together to create the Beaverton Startup Challenge. Each year we select five Startup Challenge companies. 

Applications for the 2024 Beaverton Startup Challenge will begin in August 2023.

The Challenge works! The challenge helps startups succeed. Of our first 40 Challenge companies (2016-2023), 31 (78%) are still in business. And cumulatively, they have gone on to raise more than $100  million in additional 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 Startup Center (OSC).   Our first 35 Challenge companies (5 per year from 2016 through 2022) have closed more than $100 million in additional funding.  

 We will be accepting applications for Beaverton Startup Challenge 2024 in August 2023.  There is no fee to submit an application. 10-12 semi finalists will be chosen by late October.  These semifinalists will then give their pitch to our angel investors.  The five finalists s are announced by late November and the investments are made in early December.  Residency at OTBC begins in late December or early January.    

 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. 

 $25,000 in cash and services are given to each winning company.  $4,800 is allocated for mentoring, advising, business contacts, connections, and other community partner introductions AND office space. $20,200 net cash is paid to each finalist.

The winning companies sign a 2-year convertible note at 8% annual interest which is payable to Westside Startup Fund 8.

 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.  

 The Oregon Startup Center is located at the City of Beaverton Building - E-Suites.  

12725 SW Millikan Way, Suite 300, Beaverton, OR 97005  

Conference and training rooms are available by reservation to be used for team, investor, or vendor meetings.  Wifi, white board, large screen are included.