ONAMI Oregon Science Startup Advancement and Initial Investment Package

Starting in Fall 2021, ONAMI will offer a combined free expert consulting (technology, market, competition, strategy, company formation) service along with optional/selective $25-75K SAFE investment packages for very early stage (pre-investment, pre-revenue, possibly pre-company formation) science-based/deep technology startup companies that are, or plan to be, primarily based in the state of Oregon. Preference will be given to companies solving critical problems in large markets with a unique competitive advantage, defendable IP, and a path to an investable management team.

The program will be in four stages:

  1. Initial consultation and assessment with ONAMI President and Executive Director Skip Rung to determine interest and fit with the program.  At the very least, we intend that you will receive some worthwhile advice and networking introductions at this stage.
  2. For clients continuing past Stage 1, technical/IP assessment, customer problem/competitive landscape analysis, and potential team/partnership networking with an assigned ONAMI Entrepreneur-in-Residence (EIR), supported by ONAMI’s market research specialist and other professional staff experienced in startup fundraising. For clients interested in receiving an ONAMI investment, a free consulting and confidential reporting agreement will be signed before moving to Stage 3.
  3. Optional/Selective for Stage 2 clients making acceptable progress, working with assigned EIR and ONAMI Commercialization Manager to work through investor pitch development, investor diligence requirements and close a first $25-75k investment from ONAMI that will most likely be tranched in two milestone-driven installments. This investment will be backed by a SAFE ISimple Agreement for Future Equity) and is expected to enable significant follow-on investment and progress toward revenue.
  4. Ongoing support (fundraising, talent, market research) as needed and quarterly check-in.

If this looks like a possible fit for you, your first steps are to:

 

This project was funded in part by the Oregon State Lottery and administered by the Oregon Business Development Department.