David Kenney is stepping down as executive director of VertueLab, the Portland-based cleantech development nonprofit that he’s headed for 14 years.
“I have reached a point of strong confidence in the future of our organization, mission, and team, and I have decided that it is the right time for me to take some time off and pursue some of my other interests,” Kenney said on the VertueLab website on Monday.
Kenney said he would stay on until a new director is in place at the organization, which was founded in 2007 as Oregon BEST and became a fixture in the local startup ecosystem.
“We are in a healthy financial position and are in the first year of a three-year strategic plan that I think is our strongest one ever,” he said. “Our team is growing, and it feels to me like a great time to hand over the reins to the next leader of this terrific organization.”
Search will begin soon
Heather Anderson, VertueLab’s board chair, lauded Kenney and said a search would begin in the coming weeks.
“The Board of VertueLab is committed to finding a candidate who is strategic in thought, passionate about equity, and focused on the intersection of climate, technology innovation, entrepreneurship, impact investing, and community impact to lead this remarkable organization,” Anderson said in note included with Kenney’s post.
Kenney came to Oregon BEST a year after it was launched in 2007 by the Legislature as one of three Signature Research Centers — along with ONAMI and OTRADI — that grew out of the Oregon Innovation Council.
Led transition to VertueLab
Over the course of more than a decade, Oregon BEST provided a range of services to startups and startup wannabes, and invested some $7 million in early-stage startups. Arcimoto and ESS, two publicly traded companies, were among now familiar companies it supported. Oregon BEST claimed to generate $100 million in follow-on investment and more than 300 jobs.
Kenney then led the organization’s transition to VertueLab in 2018. While it continued to receive some state funding ($1.2 million in its last fiscal year), VertueLab developed a geographically broad, climate-focused venture fund largely backed by foundations and individual donors.
“While our programs have evolved significantly, we’ve consistently focused on helping the people creating innovative technologies and businesses that have the potential to make a significant impact on reversing the climate crisis and other environmental challenges,” Kenney said in his farewell note.
