In February, Portland, Oregon Mayor Sam Adams
announced
the city would put $500,000 towards a seed fund to help encourage
regional startups. And on Friday of last week, the Portland Development
Commission announced it had finally chosen the five local business
leaders to help launch the fund, predicting
it would be "open for business" by the fall.
Portland isn't the only city undertaking these sorts of early-stage investments. Last month, New York City Mayor Michael Bloomberg announced his city was sponsoring an Entrepreneurial Fund, in a partnership with Firstmark Capital that had over $20 million earmarked to fund startups.
To read the full, original article click on this link: Should City Governments Sponsor Seed Funds?
Author: Audrey Watters
