A new economic development venture was announced today at the University of Oregon, which will support and develop business startups.
The goal of “Launch Oregon” is to develop a pipeline of startups that’ll propel the work of UO researchers and innovators.
A panel of university administrators outlined the nonprofit venture, including interim president Patrick Phillips. He said Launch Oregon will benefit not just the UO, but the state as well.
“That helps us build from being the University of Oregon to truly be a university for Oregon,” Phillips said to the audience.
Another presenter, Paul Weinhold of the University of Oregon Foundation, said the concept was proposed last October, and has moved along since.
“The board is committed to providing some of the startup capital for these entities that came up on campus, and currently the number we’re targeting is about $3 million. So there will be a significant amount of money to provide seeding funding.”
“Launch Oregon” will cover many different industries and fields, including the arts. A joint initiative between the university and the UO Foundation, administrators say it’s the first such fund in the state to connect innovators to capital, talent, leadership, and infrastructure.
Anshuman Razdan, Vice President for Research and Innovation at the UO, said the possibilities are wide open.
“Chemistry, electrochemistry, bioengineering and education technology. All of those, including music. We don’t make any judgement about where the idea comes from, as long as it has commercial viability,” Razdan told KLCC.
“So if tomorrow we have a musician or artist that comes up with a digital app for example to do some art, TikTok or any of those things, it’ll be welcome.”
Razdan added they could see qualified startups financed and rolled out within six months.
“Launch Oregon” is also touted as a way to generate jobs, retain talent, and broaden the state’s tax base.
©2023, KLCC.
