Portland Incubator Experiment Extends Deadline to August 8, 2011

The Portland Incubator Experiment (PIE) is seeking Startups looking for a solid rocket booster to success.

We’ll give you $18,000 and office space to spend three months with us in beautiful Portland, Oregon. You and other promising co-founders will learn from our startups-in-residence, successful alumni, Wieden+Kennedy, and our mentor network. Not to mention we’ll connect you with thought leaders from some of the world’s most successful brands—like Target, Coca-Cola, Nike, and Google. What’s more, you’ll meet some of the most thoughtful investors in the startup scene and gain valuable exposure to Portland’s thriving mobile and open source development communities.

Learn more about PIE in this interview with co-founder Renny Gleeson. Get your application in by August 8, 2011.

Startup Results from 18 Months of AngelList

Need funding? The Venture Hacks blog takes a look at results of AngelList, and the results are pretty impressive:

  • 8,000 intros. An investor has asked for an intro to a startup on AngelList over 8,000 times.
  • 400 investments. A startup has been introduced to an investor and subsequently closed that investor over 400 times.
  • 8 acquisitions. At least 8 startups on AngelList have been acquired.

The top 5 markets are MobileE-CommerceSaaSDigital Media and Education. And the top 5 locations are Silicon ValleyNew YorkLos AngelesLondon and Chicago.

Sumazi Startup Connects You With People You Ought to Know

Social Networking startup Sumazi launched their private beta this week, and I was able to take sneak peek here at inside-Startups.

While existing social networks reinforce connections with people you already know, Sumazi connects you with new people and opportunities that may be out of sight but not out of reach. Sumazi leverages your personal and extended networks to intelligently discover, recommend and introduce you to the right people and opportunities at the right time. By building on top of the Facebook, LinkedIn and Twitter ecosystems, Sumazi is able to harness the untapped reach and potential of your networks and your networks’ network.

Sumazi was one of a handful of companies selected out of more than 1,000 startups to participate at TechCrunch Disrupt Battlefield in San Francisco, where it won the Omidyar Network award for the startup “Most Likely to Change the World.” Sign up for the Private Beta.

Five Lies About Starting a Company

Trackur CEO Andy Beal debunks some of the most common conventional wisdom about Startups:

Business plans serve only two purposes. First, they’re a crutch for entrepreneurs that need to convince themselves they have a winning business idea. Their business plan is a comfort blanket providing a false sense of security that everything will be okay because it’s all planned out in advance. How many successful entrepreneurs do you know that say they owe their success to an amazingly well thought-out business plan? Second, business plans are great if you need an outside investor.

Read the Full Story.

Interview: Startup With the Right Model and Mind the Runway

In this interview, Bernard Slede of HP Startup Central offers some keen advice for entrepreneurs:

One of the biggest challenges for startups is what’s known as the “runway”, which refers to the time a founding team has before it runs out of cash.. How much money will you need? How long will it be before you run out of resources? I think the reality is that no matter how talented an entrepreneur is – and most of them are extraordinarily talented – it’s almost always going to take more time than anticipated to set up meetings, to finalize deals, to make hires and to complete development. More time, of course, means more money. Some experts, in fact, say it’s safe to assume that you’ll need twice the amount of cash during the startup process than your total accounting loss. Entrepreneurs are incredibly passionate, but there’s a fine line between the dream and the illusion. If entrepreneurs aren’t really mindful of resources and timelines, they often run out of gas, or out of runway or both.

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14 Ways To Be A Great Startup CEO

Jason Baptiste writes about 14 ways to be great CEO, including how to be the punching bag:

A startup CEO needs to be the personal voodoo doll for a startup. They need to be able to take on a strong burden of stress, pain, and torture all while making level headed decisions. You can’t have the troops stressing and worrying about the difficult challenges at hand. A good startup CEO will absorb the stress, so the rest of the team can carry on. He also needs to be able to mask this pain and stress. Not that he should hide or lie to the team- I’m not encouraging that. Most of the day to day nuances+stresses of a startup aren’t worth having the entire team worry about and the CEO needs to bear that pain.

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Interview: Rieva Lesonsky on Lessons from an Woman Entrepreneur

In this interview from HP Startup Central, Rieva Lesonsky, CEO of GrowBiz Media, discusses how she started her own business as well as her 26 years at Entrepreneur magazine providing advice, profiling entrepreneurs. She also has some keen advice for women starting their own businesses:

The last thing I’ll mention is don’t try and measure yourself against anyone else. Set benchmarks for your business – your business is what you choose to make it. Benchmark how you accomplish your goals and not against other people because you don’t know everything that is going on with them or how they got there. Set a series of goals and make sure you have new ones before you achieve the old ones. Having goals all along the way will be a snowball towards success.

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How Much Should You Raise for Your Startup?

VC Fred Wilson looks at how much money you should raise for your Startup:

I’ve got two basic rules of thumb. First, try to dilute in the 10-20% band whenever you raise money. If you can keep it to 10%, that is great. You might have to do more, but try hard to keep your dilution below 20% each round. If you do two or three rounds at north of 20% each round, you’ll end up with too little of the company.

Second, raise 12-18 months of cash each time you raise money. Less than a year is too little. You’ll be raising money again before you know it. Longer than 18 months means you may well be sitting on cash that you raised when your company was worth a lot less.

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