Adding space for Startups

March 27, 2013: Portland Business Journal
By Robert Goldfield

Increasing demand for incubator space has prompted the Oregon Technology Business Center to expand its footprint in Beaverton.
The seven-year-old center provides offices, coaching and contacts to early stage ventures — generally tech-oriented — desiring to turn the heads of potential investors.

“We were getting completely full to the extent that we were using our guest office for a startup,” Executive Director Steve Morris said.

So when 4,400 square feet became available in OTBC’s building at 8305 S.W. Creekside Place, Morris grabbed the space, adding it to the incubator’s existing 7,000-plus square feet.

The additional space allows existing tenants to expand and provides room for additional tenants to move in. It also gives a little extra elbow room for seminars and similar events, Morris said.

Morris said an improving economy seems to be spurring the formation of new ventures.

“My impression is that more and more people are feeling positive about trying out entrepreneurship.”

Formed by the city of Beaverton, the OTBC offers resident entrepreneurs help in a variety of matters, such as marketing and finance advice, training in making presentations to possible investors, and introductions to potential customers and investors. It also offers seminars to the early stage community at large. Past events have included a “boot camp” that offered rather ruthless feedback to fledgling entrepreneurs.

Notable graduates include CrowdCompass, which offers real-time event information on mobile devices and which was purchased in June for a reported $10 million.

Current tenants include Sonivate Medical, maker of a fingertip-mounted ultrasound probe and Oregon Bioscience Association members. OTBC’s building is owned by PS Business Parks.