Portland Incubator Experiment

(pictured in 2012). The Portland Incubator Experiment (PIE), co-founded by Renny Gleeson and Rick Turoczyis, is a business incubator based in Portland, Oregon that advises and provides resources to startup companies. The program, "informally launched" in 2009 and converted into a structured program in 2011, is run by the Portland-based advertising agency Wieden+Kennedy (W+K). Following an application process, startups are chosen by a selection committee. Participants receive $18,000 in seed money in exchange for six percent stakes and spend three months at W+K's Northwest Portland offices, developing their businesses with assistance from "mentors, W+K, big brands and other startups". Program rounds are often referred to as "classes", from which participating businesses "graduate". The Portland Incubator Experiment is similar to the Portland Seed Fund, a public-private program (funded in part by the cities of Hillsboro and Portland and the Oregon Lottery) that encourages entrepreneurship and invests in startups. ==Classes and results==

2011 Applications for the inaugural class were due on August 8, 2011. In January 2012, the participating companies offered eight-minute presentations, pitching their products to a crowd of 400 at the Bagdad Theater. VendScreen announced that it had received a $12 million investment for its technology. PIE also made changes to "improve the mentorship program and the overall experience for entrepreneurs". The application deadline was extended to June 12. 300 applications were submitted despite little promotion from PIE. Companies were chosen by a "loose" selection committee consisting of at least eight people. According to Turoczy, the program's second class included a greater variety of business plans, with "fewer daily deal pitches... and fewer location-based check-in companies". Businesses selected to participate included: • AppThwack, a service for testing application software and websites on Android smartphones and tablet computers • KS12, a studio that "tells stories which blur the line between documentary and fiction, artwork and essay" • Lytics.io, an API that provides analytics to developers • Plexus Engine, a tool suite for influencer marketing and "expert discovery and engagement" • Portland Women's Software Academy, a nonprofit organization focused on "educating and encouraging would-be software developers" • Stublisher, a service for "capturing and curating event experiences" • Vadio, a service that turns "terrestrial" radio station websites into live video channels The program began on July 16. Participants received assistance from sponsors at The Coca-Cola Company, Google, Intel, Nike and other Oregon technology professionals. PIE added a staff position for the program, designating Wieden+Kennedy's Kirsten Golden as "class manager". ==See also==