OEN NewsOregon Growth Board Invests $50,000 in OEN’s Angel Oregon Spring 2015 LLC Investment Award

Nouvola at Angel Oregon
Nouvola won OEN’s Spring 2014 Angel Oregon Investment Award of $256,000.

April 2, 2015 (Portland, OR) —The Oregon Growth Board has committed $50,000 to OEN’s Angel Oregon Spring 2015 LLC Investment Award. The LLC is organized each year by Oregon Entrepreneurs Network (OEN), a Portland-based nonprofit with a mission to drive innovation, facilitate job creation, and put Oregon on the map as a center for entrepreneurial excellence.

The Oregon Growth Board’s investment is part of its larger effort to grow companies from early-stage to large, locally headquartered firms.

Out of a total of 61 applicants, six companies are currently in the running to receive OEN’s Angel Oregon Spring 2015 LLC Investment Award. Three finalists will be announced on April 7. The winner of the award, historically ranging from $200,000 to $300,000, will be determined by an investor vote following a thorough due diligence process and will be announced at OEN’s Angel Oregon Showcase on Wednesday, April 22 at The Sentinel Hotel in Portland, OR.

Since 2005, 612 companies have applied to compete for OEN’s Angel Oregon Investment Award and 89 were selected to present. From 2005 to 2014, $3 million has been directly invested through OEN’s Angel Oregon LLC Investment Award and there have been four favorable exits. Additional investment has been made outside of the LLCs, and Angel Oregon finalist companies have created more than 700 jobs. Past winners include Nouvola, brandlive, Wild Friends Foods, Chez Marie, OpenSesame, and DesignMedix.

“We are deeply grateful for the Oregon Growth Board’s support of OEN’s Angel Oregon Program,” says Linda Weston, Executive Director of OEN. “Entrepreneurship is vital to economic growth, and we are pleased to join forces with the state to help catalyze the success of high-potential, scalable, early-stage startups.”

About OEN

OEN connects entrepreneurs to a network of peers and mentors, startup funding opportunities, and hands-on training. A nonprofit, membership-driven organization with a 23-year track record, OEN drives innovation, facilitates job creation, and puts Oregon on the map as a center for entrepreneurial excellence. For more information, visit www.oen.org.

About OGB

The Oregon Growth Board was created in the 2012 Legislative Session in an effort to spur more economic growth in Oregon, with a focus on increasing the state’s ability to grow companies from early stage to large, locally headquartered firms. An important focus is placed on leveraging state resources to improve the availability of capital for high-growth companies.

OGB Contact: Beth Cooke, Executive Director: beth@oregongrowthboard.com or 503.986.0143

OEN Contact: Kerala Taylor, Director of Marketing & Communications: keralat@oen.org or 503.222.2270

 

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