It is safe to say that San Francisco continues to be the epicenter of innovation and enterprise in the US. However, other regions are quickly picking up the pace. Startups in various industries and spheres are emerging strong out of Portland, Oregon, for example. Let’s take a look at why this is the case in 2020.
Growth Trends
While the Bay might still be the ‘startups capital’ of the US, Portland isn’t too far behind. Data over the years shows that popularity growth in the area is on a steady upcurve. In fact, Portland has been ranked as one of the ten fastest-growing regions in the country. This, therefore, would lead to business growth, too.
With more people moving to Portland, and with the population rising, innovations are, too. Inc.com advises that much of Portland’s growing innovations success revolves around its ‘talent pipeline.’ They identify business management programs at both Portland Community College and the University of Oregon that directly pinpoint the entrepreneur and the enterprising business owner.
Portland is also well known for its array of brands and big-name ventures. You only have to consider the likes of local fashion lines – Adidas and Nike – to see that innovation has been on the slow burn there for decades.
Startups in Portland
Of course, names like Adidas and Nike are well-established. To some, they may even be old news. We need to consider current trendsetters and emerging innovators in the region to see how enterprises are helping to keep the area burning bright.
Telehealth and telecare have emerged as big spheres to watch in the New 20s, with brands such as Your.MD, having taken on huge seeding rounds. However, let’s turn this back to Portland. Bright.MD is a similar innovator in that it is actively developing AI to help people treat their own health conditions.
This automation service has already inspired investors to the point where it’s reached series C funding. Still only offering an operative core of around five people, Bright.MD is continuing to grow. Its genesis lies in Portland, and it’s been a part of the local scene since Ray Costantini and Mark Swinth brought it to life in 2014.
Let’s also consider one of the noteworthy portand startups - SurveyMonkey. This is an immensely successful unicorn which also has roots in Portland. In fact, there is a very good chance that many people taking part in online surveys will be familiar with their forms.
SurveyMonkey went public some time ago and is now worth more than $1 billion. This is only on the back of 22 separate investors. It’s older than Bright.MD, by some way, having emerged in 1999 in the middle of the dot com bubble. However, the survey engine still persists as the leading standard.
Is Portland Worth Watching?
It is probably safe to assume that many investors will continue watching Silicon Valley for tech of interest. However, there is plenty to see in Portland. Anyone keen to see what the region has to offer in terms of startups can use services like Fundz to keep track of what is emerging.
SOURCES
https://portland.startups-list.com/
https://medium.com/exponential-creativity/beyond-the-bay-in-portland-size-matters-3f030c47d04d
https://www.cnbc.com/2016/07/29/a-start-up-and-small-business-boom-in-portland-oregon.html
https://www.crunchbase.com/organization/bright-md
https://www.inc.com/magazine/201804/hannah-wallace/destination-portland-oregon.html
https://www.crunchbase.com/organization/surveymonkey
http://thetechtribune.com/10-best-tech-startups-in-portland/
