The Oregon Technology Business Center is changing its name to Oregon Startup Center to better reflect the work it does beyond incubating tech startups.
The group has been around since 2004 and was initially started as the Open Technology Business Center. It was designed to help open-source software firms. It changed to the Oregon Technology Business Center in 2006 since it started to work with a broader range of tech companies.
This most recent name change is part of that natural progression. The group works with startups in all sectors and now the name communicates that.
“The name change recognizes that the 18-year-old program has worked with many types of startup and fledgling companies, not just technology companies, through its seven-year Beaverton Startup Challenge and its statewide Virtual Incubation Program, which provides training to entrepreneurs throughout Oregon,” said Jim McCreight, OSC executive director, in a written statement.
The Beaverton Startup Challenge is one of the marquee programs of the group. Each year, the program invests $25,000 in five companies and offers office space as well as mentoring. Over the life of the program it has invested in 35 companies and invested $864,000. Funding comes from the city of Beaverton and is matched by private investors.
Companies have gone on to raise more than $95 million in follow-on funding from investors.
“OTBC has been a tremendous resource for many emerging businesses in Beaverton,” said Mayor Lacey Beaty in a written statement. “This new name better reflects the breadth of work that they do, and I hope this helps more entrepreneurs discover the services they offer.”
Businesses that have worked with OSC include: identity authentication startup Cozera; fusion salsa maker Khalsa Salsa; children’s apparel maker GoumiKids; travel startup TrovaTrip; and material startup Liquid Wire.
