I recently had the opportunity to attend an interesting seminar for entrepreneurs put on by a local Portland organization called Starve Ups:
Dedicated to helping founders of start ups create successful and sustainable businesses through optimized peer mentoring.
Three facts about Starve Ups:
This particular gathering was around the theme of ‘Raising $1 million in this economy.’ Several take a ways from the discussion with three founders included:
On the valuation side, one of the panelist threw out a figure that was somewhat disputed by the others but was what he described as ‘baseline’
If you have a $750,000 to $1.5 mill pre-valuation, you can expect to sell your first 20% for about $250,000
Overall it was a strong event owing to the contrasting personalities and attention to get straight to audience questions. It was also a packed house at the hosting venue, Nedspace, which attests to the piqued interest that Portland holds for entrepreneurial endeavors.0