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The role of accelerators in Portland

Marisa

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recent article from Oregon Business Magazine (OBM) highlights the fact that it's not just startups booming here in Portland. It's also startup accelerators. OBM spotlights four new accelerators launching this spring: Nike+ Accelerator, Oregon State University's Venture Accelerator, Oregon Translational Research and Development Institute Bioscience Incubator, and finally, the Headwaters Farm Incubator.

But the article also questions the accelerator boom, pointing out that not all startups will succeed. While that may be true, startups – and accelerators – are now an integral part of Portland's business ecosystem. These accelerators are producing a steady feed of high-quality, enthusiastic startups that might not have otherwise considered launching in Portland. We look forward to meeting these graduates and talking to them about their next steps. 


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PDX startups go prime time

Marisa

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We're happy to report that there's a new blog in town dedicated to promoting the Portland startup ecosystem: Stumptown Startups

Stumptown Startups is run by local TV Station KATU News, and aims to "examine the growing startup scene in Portland and beyond." While the local tech and business press do a great job of covering the Portland startup scene, local broadcast networks haven't historically spent much time on the tech sector. If the news channels think this is worthy of their time, Portland startups must be getting closer to our goal of having a significant economic impact in Portland.

Stumptown Startups' first post spotlights Portland-based startup Simple, and we can't wait to see what's next. Props to KATU and reporter Erica Nochlin for giving Portland's startups some well-deserved attention. 


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Portfolio News: Chirpify in Fortune/CNN Money

Marisa

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We've been raving about Chirpify – our very first Upstart Labs graduate – for a while now. And we're certainly not the only ones. Today Fortune/CNN Money named Chirpify 1 of 7 social networks to watch in 2013, along with a handful of other impressive platforms including Pheed, Medium and Thumb. Check out the full article here, and then give Chirpify a spin, if you haven't already.


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How Upstart Labs works

Jenn

Sign

I spend a lot of time explaining the Upstart Labs model to people I meet. Our portfolio is small – just seven companies to date – and you won’t see us packing an auditorium for a demo day twice a year. As an early-stage investment fund, we’re more likely to be found behind the scenes than introducing our latest crop of companies.

Upstart Labs is different because we invest in the form of professional services rather than cash. We provide access to a team of 13 – developers, designers, project management, marketing, business development and sales – in addition to mentoring from our executive team and business services such as legal and accounting. Rather than giving startups a pile of cash and waiting for them to hire employees, our portfolio companies hit the ground running on Day One.

When pitching investors, startup founders try to cut right to the chase with their “ask” – how much money they need, and what, specifically, they’re going to use that money for. One of my favorite things about the model that we’ve established at Upstart Labs is that it gives founders the ability to modify the specifics of that “ask” during their time with us, as conditions dictate.

Hiring employees is expensive; hiring creative and development agencies is even more so. We’ve heard angels complain that a quarter of their investment (or more) is “wasted” by startups on contractors and other pricey purchases. Companies in our program avoid those expenditures during their tenure, and get more time to refine their model – and generate revenue! – before pulling the trigger on long-term expenses.

Our team augments a startup’s existing team. With our team’s help, companies in our portfolio who have products in the market can expand their features, add platforms and services, and enter new markets. We’re investing in this way – services first – because we believe it works. Need more evidence? Just read what our Upstarts say about us.


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Portland: The startup accelerator capitol of the world?

Marisa

P 01 Cloudability Mat Ellis Ceo

In today's Portland Business Journal, reporter Erik Siemers poses the following question: 

Is Portland the startup accelerator capitol of the world?

We certainly think so. And we're willing to bet that the other startup companies Siemers refers to – PIE, StarveUps, Portland Startup Weekend, Portland Seed Fund, Portland State Business Accelerator, Portland Ten, Oregon Entreprenuers Network, and the Oregon Technology Business Center – would also agree. What do you think?


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Iterating On Ideas

Bryan

When your startup vision is big — a suite of apps used by hundreds of millions, funded by a couple rounds of financing — it’s easy to think of an App Store launch as a small step along that road. If you hear people claiming that they can build Instagram in a week, what they’re probably thinking is that they could assemble a prototype that approximates the idea. And, undoubtedly, a talented iOS dev working from the fully-formed idea of Instagram today could be feeding captured photo data through some CI filters, uploading it to a server, and pushing it to her social streams before the weekend. If there weren’t any stylish mobile photo-sharing apps out there and I’d had the foresight of that premise, I’d be off prototyping it right now.

Products with focused feature sets tend to seduce us into thinking that success is a matter of hacking on our idea for a week. The nature of mobile UIs makes this seem all the more reasonable. But strong implementations of good ideas always tend to feel within reach, and there are reasons that 900 million people aren’t using any number of Facebook competitors to manage their personal lives.

So: we could assemble our team to build and polish our vision, and if we’re lucky enough to have Instagram-in-a-week-caliber people, then maybe we’ll be able to get our own untested idea to market in a few months. Or we can try to test our assumptions with prototypes, knowing that if we build out the whole thing and then try to iterate, our v2 might mean starting from scratch. I’ll try to explain why we think this is usually the right approach for a startup.

Iterate with prototypes

800px Leonardo Da Vinci Drawing Of A Flying Machine

Sketches, wireframes, design comps, and interactive prototypes are all steps in our process. None can assure that our idea will work in the end: carefully-crafted wireframes need re-thinking once we see them implemented with our designer’s graphics; beautifully rendered layer comps of a list-sorting UI seem perfect until we actually use it on a tablet. We can only hope to find the problems that will keep the project from succeeding.

Put another way, our goal with the prototype isn’t to prove-by-wireframe that the product will be just what users want. Instead, we’ll hypothesize about the ways in which the product will fail and try to find the potential failure points as quickly as possible so that we can work around them. Think of it as a loose relative to reductio ad absurdum: let’s try to convince ourselves that the product won’t work as we’ve designed it; if we can’t, then maybe we’re on to something.

We’ll either get to the right product a lot faster, or learn some important lessons and move on to the next idea. This is true even when we’re totally confident in a product idea. And it’s true whether we’re spending evenings hacking in a coffee shop or have millions in funding because if nothing else, failing slowly carries an opportunity cost. We prefer to uncover our misguided design assumptions, missing features, and broken interactions as soon as possible. We’re sculptors starting our implementations with sketches and clay.

Prototypes as user testing

As a developer, I lean heavily on interactive prototypes, which may or may not implement the designs from our creative team. It’s generally easy for us to build a quick mobile web demo, or a storyboarded iOS app, or even just a set of comped images with gesture recognizers to simulate a user experience.† Prototypes like these give us the opportunity to learn, relatively cheaply, that the idea isn't right — and to make needed changes early in the process.

The kinds of prototypes I’m hinting at here are for user experiences. We work from a set of user stories and use the prototype to improve them. Along the way, we discover that features we thought critical are marginal or unnecessary; we uncover functionality we didn’t know we needed; and we’ll almost certainly find a better way to design part of the interface.

Of course, UX is rarely the whole story. If you’re a technical entrepreneur, you’re already writing spike solutions, integration tests, or other proofs of your core concept. The good news, if it’s not obvious, is that these two kinds of prototypes can be built in parallel by different teams. There’s no reason we shouldn’t iterate on the interface of a multi-player mobile game at the same time we write our API integrations and test for network problems in target areas.

The faster you can find those failure points, the better

At a talk at Urban Airship last year, Eric Ries quipped that after months iterating on a product and only then discovering that not a single user was interested in downloading it, the only thing they needed to build was a marketing page with a download link that 404'd.

Start on that end of the spectrum: focus on the biggest questions first and build as little as possible. The next step is always a slightly more-realized product; the next step is just your next iteration.

† There are dozens of tools and techniques for prototyping, and perhaps I’ll talk about some of those in a future post.


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Upstart Labs – Year in Review

Greg

Greg SmallWe founded Upstart Labs in October, 2011 with the goal of accelerating new businesses through our team’s expertise in design, development and launch marketing. Our goal as entrepreneurs and investors was to pilot a different sort of incubator – one that provided expertise as the core, not just a bit of cash and a desk.

Our first graduate, Chirpify, is the model of how we see our program succeeding. Chirpify enables businesses and consumers to buy, sell and transact directly on Twitter. Since exiting our program in spring 2012, Chirpify has raised a Series A; been featured in the Wall Street Journal, Billboard, Inc., and Mashable; hired seven employees; and been adopted by celebrities and brands as diverse as Green Day, ProPublica and Taco Bell.

We’ve graduated three more Upstarts this year – MoPix, Taplister and PivotPlanet. All three are live in their markets, and on their way to getting traction with users. We’ve got two more Upstarts that are close to graduation – restaurant menu iPhone app Menuish, and ecommerce analytics dashboard Measureful – look for launch announcements for these companies in the near future.

We’ve also been privileged to deploy our team to projects with local startups such as Favery, Celly, ShopIgniter, and Beeminder. As digital agency veterans, we know that our “lean startup” mentality makes us an ideal development and marketing partner for startups at any stage.

We will end our first year of doing business with six graduates, and the creation of more than 20 new technology jobs in Portland and Los Angeles. We’ve opened a new, larger office but have remained in Portland’s urban core. And we have given back to the local startup community as mentors to the Portland Seed Fund companies; as judges and mentors at Portland Startup Weekend; and as advisors to startups at every stage.

In 2013, our plan is to focus even more tightly on our vision of accelerating Portland’s newest class of new businesses. We plan to announce the opening of our application round in the next few weeks, and we will have even more exciting news about the level of investment we have planned for next year. Stay tuned – there will be new ways to get involved with our portfolio, and we look forward to making an even larger impact on the local economy.

Greg


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One of my new favorites: Favery.com

Jenn

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Like most startup CEOs, Anne Nichols at Favery knew she had a steep road to climb when launching her product. Anne approached Upstart Labs for assistance bringing in Favery to life – reaching out to bloggers, public relations, social marketing, and lots of other tiny things. Launching new businesses is a core component of our practice at Upstart Labs, and we were excited to take this on. Not in the least because we actually like using the product!Header

Favery is an online bulletin board that allows users to easily collect information from anywhere, share their finds, and solicit real-time feedback. Favery offers two great features distinctive from other curation apps:

  • Privacy – Set your bulletin board to Public, Private, or Shared with a few friends whose opinions you value
  • Voting – Post some options, ask a question, and get advice

We’ve worked with Anne over the past few months to help get Favery launch-ready, so we’re excited to finally share the final product with you. Today, Favery is live – you don't need an invitation, so create an account and start Faving today.

Congrats, Favery!



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P.S. Favery is running a sweepstakes to celebrate their launch. You could win a $750 shopping spree to West Elm, BHLDN, or Pottery Barn Kids – enter today, because I'm ineligible :)




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Ready for a personal pivot? PivotPlanet is here

Jenn

Brian Kurth spent years helping people discover new careers – in everything from marketing to make-up artistry – and last year, he decided it was time to find his own new direction. Brian had the idea of modernizing his seven-year-old business, VocationVacations, and creating a marketplace for career expertise delivered virtually via one-on-one videoconferences. He came to Upstart Labs to make it happen.

Pivot Stack 2

Today, I'm excited to announce that our newest Upstart, PivotPlanet, is live to the public. Now anyone looking to "pivot" to a new career can search for an advisor, book a one-hour, one-on-one meeting with that advisor for as little as $50, and get the personalized advice they need to take the next step.

The best part about PivotPlanet's advisors is how professional they are at delivering career expertise. Brian and his team carefully screen potential advisers, who are required to demonstrate expertise in their field along with a capacity for career mentorship, and select only those advisers who will make excellent career counselors. In this way, his platform can deliver advice to anyone – aspiring entrepreneurs, recent college graduates, moms returning to the workforce, baby boomers looking for "encore careers" – anyone ready for their second (or even first) act.

We see several applications for this marketplace beyond the obvious resource it provides for consumers. For example, corporations could use PivotPlanet to augment or even replace traditional outplacement services, or leverage PivotPlanet's platform to run an external mentoring program. Universities could offer PivotPlanet conferences as resources to alumni. Professional associations could connect members with experts, or become advisors themselves in order to boost their profession's profile.

As someone with a lot of background in human resources technology, I've been so pleased to be a part of PivotPlanet. It's clear that a personal network is a job seeker's most powerful weapon – and PivotPlanet is a way to both grow your career network and really leverage it to your advantage. We at Upstart Labs look forward to seeing the PivotPlanet network grow and thrive.


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