PIE goes local for first class


Although a majority of applicants for the Portland Incubator Experiment came from outside the state, a majority of its first, nine-member class comes from the Portland area.

Share this article!

Although a majority of applicants for the Portland Incubator Experiment came from outside the state, a majority of its first, nine-member class comes from the Portland area.

The Wieden+Kennedy ad agency launched PIE two years ago in hopes of nurturing Portland startups. It re-launched the business incubator this summer in partnership with Google and three W+K clients — Target, Nike and Coca-Cola. 

Resident companies spend three months at PIE’s offices within Wieden+Kennedy’s Pearl District headquarters and get an $18,000 stipend in the form of a loan, convertible to a 6 percent equity stake in the startup. 

PIE attracted one company from Illinois, along with a few entrepreneurs who had started companies with Portlanders. Other promising applicants balked at the move to Oregon, according to Rick Turoczy, PIE’s general manager.

Read more at OregonLive.com.

{biztweet}portland incubator{/biztweet}




Latest from Oregon Business Team