Applications open Feb. 14 for the next cohort of the Portland Incubator Experiment and will remain open through March 14 (Pi Day, of course).
This is the first new cohort of companies since the Covid-19 pandemic began in 2020. The class that had started that year was extended and rebooted through 2021 as the organization and the startups navigated the changing environment.
When that happened, the program went virtual. This next one is also expected virtual, said General Manager Rick Turoczy, “out of an abundance of caution and concern for the founders we work with.”
But, this doesn’t mean PIE is making a pivot to virtual forever.
PIE started as a co-working space in 2009. It became an important part of the city’s startup ecosystem and was a key player in creating the software startup community when the city was still most widely known for hardware. It has since grown to include other types of startups. The group works closely with other organizations that also support founders such as Oregon Entrepreneurs Network, Oregon Biosciences, Built Oregon and TIE Oregon.
PIE has evolved into three flavors of programming:
- PIE Shop tends to be early-stage startups with physical products that need help figuring out design for manufacturing and supply chain;
- PIE is usually software-based or tech-enabled startups that have a prototype and a target market but need help preparing to fundraise or going to market;
- PIE Consumer is usually startups that are further along in consumer packaged goods or food and beverage and need help going beyond a regional market and become a truly traded sector product.
Throughout the application period the PIE team will be holding information sessions. The first one is Feb. 15 on PIE’s Crowdcast page.
Turoczy has always leaned into the experimental aspect of PIE, and this time around the group will run three programs concurrently. For these three programs he expects about 30 companies total to participate.
That is down from about 60 companies the group worked with last time around. When the program first went virtual, Turoczy said they tried offering greater access and accepting more companies. Similar moves have been made by other accelerators such as TechStars and Y Combinator. However, that didn’t prove to be beneficial locally, he said.
“In testing it, it became clear that PIE is much better benefitting a smaller number of companies and creating deeper connections than it is with so-so connections with a larger number of companies,” Turoczy said.
With this iteration of virtual PIE, Turoczy is putting more structure into the program based on lessons learned last year. This means ensuring that founders selected are comfortable working in a virtual environment, with the software tools needed and a structured calendar of programming.
“Unfortunately, what we have all learned in dealing with a global pandemic is everyone is juggling way more stuff than even the busiest people are used to juggling. … My biggest mistake last time around was missing the fact that mentors were going through the same thing,” Turoczy said. This meant mentors who are typically very engaged had a challenging time being involved.
He expects strong applications for PIE Shop and PIE Consumer based on community feedback he has received. His big question mark is what the more traditional software deal flow looks like. As organizations like TechStars and Y Combinator get bigger and embrace virtual programs, what does that mean for Portland founders who now have more options for resources than in the past?
“Is there demand for a local (software) accelerator program?” asks Turoczy. “Or did it do what it needed in a moment in time?”
Whatever the case, PIE is planning Demo Day for this cohort on Oct. 12. PIE alums include A Kids Company About, MilkRun, Cloudability, Glory Skincare and Lytics.
