Propel August 2020 Newsletter

The Impact Issue

A Year In Review

Portland State University is on the frontline of developing new ideas, technologies, and programming that focus on addressing the major issues of the 21st century. At Propel PSU, our motto is "explore your ideas; expand your impact." We believe entrepreneurship and commercialization increase the impact of innovative ideas. For the August issue of the Propel PSU newsletter, we're looking back at how the three units within Propel (the Portland State Business Accelerator, the Center for Entrepreneurship, and Innovation & Intellectual Property) have supported innovators and entrepreneurs from within the university and beyond.

Portland State Business Accelerator

Portland State Business Accelerator statistics: $114+ Million generated in revenue, $187+ million raised in capital, 16 PSU spinout companies, and 1350+ students engaged in capstones, internships and jobs

Since 2007, the nationally recognized Portland State Business Accelerator (PSBA) has supported and served local tech, bioscience, and green technology companies from their early stage through growth by providing facilities, programming, and mentors. In 2019, PSBA companies generated over $20M in economic activity. Companies experienced average revenue growth of 335% since joining the PSBA and were awarded $23M in grants while adding high-quality jobs to the metro region. More PSBA statistics.

Propel Company Spotlight: Sellgo

Sellgo, a Portland State Business Accelerator company-in-residence, operates in the ever-growing e-commerce sector. As company CEO, Richard Prasojo (pictured) notes, Sellgo is a cloud-based service provider that offers customers data and automation tools that help Amazon sellers scale their business, sell more profitable items, and obtain greater market share.

Center for Entrepreneurship

Center for Entrepreneurship statistics: 5 patents filed, 740 students served, $2.5 million raised by student led ventures, 93 student teams formed, and 15 startups formed

Since 2012, the Center for Entrepreneurship (CE) at Portland State Univerity has propelled student and faculty innovators to solve big problems that affect our local, regional, and global communities by facilitating entrepreneurial programming and competitions including the Cleantech Challenge, Kick Start Weekend, Invent for the Planet, and Invent Oregon. In 2019, 75% of students participating in CE programs launched their own startup company. 73% found the programming helped them refine their business models and 76% felt participating in CE programs helped them see themselves as inventors and entrepreneurs. Read more.

Ford Family Foundation signs on as a sponsor for InventOR

Ford Family Foundation Signs on as a Sponsor for InventOR

The Invent Oregon Collegiate Challenge — Oregon’s only statewide invention competition — recently announced a new sponsor, The Ford Family Foundation, that will provide financial support for Oregon college inventors and entrepreneurs with a focus on rural student-led teams, during their participation in InventOR.

Innovation & Intellectual Property

IIP statistics - 41 faculty projects, 106 active licenses, 222 invention disclosures, 17 startup companies, and 87 patented technologies

Since 2010, Portland State University's Office of Innovation & Intellectual Property (IIP) has promoted the use and increased the impact of PSU innovations through the tool of Intellectual Property. Serving as the technology transfer office for Portland State, IIP works with faculty, students, and external partners to license and commercialize the results of university research, returning revenues to PSU innovators and departments. In fiscal year 2020, IIP received $1.4M revenues from innovations developed by PSU faculty and students. Over $150K of those revenues were distributed to inventors and more than $875K were distributed to PSU programs. During that time IIP maintained 86 active licenses, filed 17 patents and supported 12 university spinout companies. Read more.

Impact of Mandatory Participation in PSU Work Share Program

Beginning the week of June 1, 2020, Portland State University implemented a mandatory work share program that reduces the workload of non-instructional staff by 20% per week. This program affects Propel PSU employees, including those in the Center for Entrepreneurship, the Portland State Business Accelerator, and Innovation & Intellectual Property. The Business Accelerator and Innovation & Intellectual Property will remain open Monday - Friday with reduced staffing levels. The Center for Entrepreneurship will be open Tuesday - Friday, 8:00 a.m. - 5:00 PM.