Want to start a mobile/tech company in Portland? Apply to PIE!

Great News!

PIE is seeking eight to ten brand-collaborative startups to join our space for 2011 and work with Wieden+Kennedy, Target, Coca-Cola, Nike, PIE alumni, and other startup mentors. We’re really hoping that’s you and your team.

When?

PIE’s first class will officially kick off September 1. And applications are due August 1st! If you want to apply, act quickly! We promise that it will be worth your time.

What is PIE?

Simply put, PIE helps accelerate companies. How? Well, in its first year, PIE helped host, accelerate, and mentor a number of successful startups. You might think of PIE as the epicenter of the Portland tech ecosystem. PIE location, connections and people make it easier to succeed as a startup. But don’t just take my word for it. During the first 18 months of PIE, three of our companies were funded, two of our companies were acquired, and one company published a book on launching startups. Below is a list of companies that PIE has helped.

BankSimple (funded)
COLOURlovers (funded)
Geoloqi (funded)
PHP Fog (funded)
Urban Airship (funded)
Bac’n (acquired)
Bass Masta (acquired)
Dovie
Epipheo
Gorlochs
Here File, File
Kickball
LucentPDX
Maurerville
Mugasha
Paleo Plan
Refresh Media
Silicon Florist
Subscription Tools
Uncorked Studios
VodPod

What will you get with your PIE?

Startups selected for PIE will receive $6,000 per founder, up to three (3) founders (maximum of $18,000). In exchange for the your participation in the next version of PIE–including the seed funding, advice, mentorship, connections and other benefits–PIE 2.0 will receive a 6% common stock (i.e., “founders stock”) equity stake in your new company. This will place PIE 2.0 on par with you with respect to risk. And, we ask for no board seats or other types of control.

Applications close August 1st!

Sound good? Ready to go? Excited to succeed? What are you waiting for? Apply to PIE Now! We can’t wait to work with you! (Geoloqi will be a peer mentor for the September 2011 class).

2 thoughts on Want to start a mobile/tech company in Portland? Apply to PIE!

  1. When the PIE managers or mentors address the concerns that have been raised about the deal terms then you will see more applications. I know three companies who are not applying all because of the same concern.

    The main concern is that if Wieden and Kennedy owns part of your company, no other ad agencies or non-Wieden brands will do business with you. It’s pure BS if anyone refutes or refudiates this.

    The structure creates an indentured servitude relationship or worse a one-shot to fly, or to crash and burn, scenario.

    The right ingredients are all there but if you don’t change the recipe the pie isn’t going to taste very good.

    BTW I’ve seen minority shareholders with less than 5% common stock take over a company. Corporate law is a fickle thing. The best suggestion I’ve seen is over on siliconlumberjack to set up “first look” and performance based relationship so that participants can work unencumbered with other agencies and brands if Wieden aren’t delivering.

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