Pioneer Square Labs is a startup studio that tests and validates startup ideas, then funds and hires a founding team around the most promising concepts. Subscribe to GeekWire's free newsletters to catch every headline. For comparison, a lead investor in a Series A round typically wants 20% of the company, according to Silicon Valley accelerator Y Combinator, which also advises entrepreneurs to avoid giving up more than 25% of their company in a seed round. If PSL takes a large cut off the bat, it could cause future investors to balk. Pioneer Square Labs General Information Description. Many startup studios have launched in recent years, including Seattle’s Kernel Labs, new B2B firm Pienza, and Madrona Venture Labs, which also rapidly spun out startups last year. “They are filling the gap for experienced entrepreneurs that want to move as fast as possible to get through the first steps required to establish any company,” said Omri Bahat, a Seattle angel investor and Alliance of Angels board member who has backed multiple PSL companies. Idaho entrepreneurs should have more funding opportunities as new organizations are drawn to the region’s business success. The studio itself has raised $27.5 million to date from more than a dozen U.S. venture capital funds and 50-plus angel investors — a who’s-who list that includes firms such as Bezos Expeditions and individuals like Expedia and Zillow founder Rich Barton. Employees N/A. I visited with my wife, and then bought the year pass and came back with my kids. PSL co-founder Ben Gilbert said he was surprised at how productive the studio has been over the past year. Do you want to see how memory has evolved in computers over time? “If you believe that engineering is at the heart of startups, is there a better place on planet Earth that has a higher concentration of talented entrepreneurs than Seattle?” said Gottesman. Visiting the active volcano on a guided tour lets you focus on the views while your guide takes on the hassle of driving. Our backers include 13 of the world's top venture firms and over 50 angels from the Pacific Northwest, Silicon Valley, and around the country. “Could I have built Boundless in a garage eating ramen? 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Have a scoop that you'd like GeekWire to cover? And some are critical of the startup studio model, saying firms such as PSL take too much stock ownership from founders, increasing dilution and potentially dissuading future investors. Yes,” Wang said. Twitter Linkedin Instagram Vimeo. “Thus, either we made it, in which case the dilution doesn’t matter, or we don’t make it, in which case having more equity also doesn’t matter. For … Flyhomes puts you at the heart of the home buying experience, cutting through confusion and offering breakthrough ways to find and buy a home you love. The Weekly Notable Startup Funding Report: 9/7/20. The Weekly Notable Startup Funding Report takes us on a trip across various ecosystems in the US, highlighting some of the notable funding activity in the various markets that we track. Among the 25 spinouts, only JetClosing, a digital title and escrow company, has raised a Series B round or later. Downstairs is a mix of AI, robots and arcade games. The architecture is fabulous - lots of red brick and terra cotta. The studio later added Sandler and startup vet T.A. PSL companies include those started by entrepreneurs who approached the firm with their own ideas, and others that PSL recruited after coming up with a tested pitch. Search for other Research & Development Labs in Seattle on The Real Yellow Pages®. However, those familiar with PSL’s economics said when the firm started it was taking around a 40% stake, or even higher — a significant chunk of the pie. He declined to disclose PSL’s initial equity stake. PSL declined to provide a specific breakdown on how much equity the studio takes from spinouts. Recommend the guided tours if available when you are there. Total Funding 11. “But we’d be at least a year and thousands of immigrants helped behind.”. 54 were here. We don’t need to, and we shouldn’t anymore.”. Interesting history of computers; helpful staff. Close. Julie Sandler, a PSL managing director who previously worked at Madrona Venture Group, said the pandemic has exacerbated inequities across the startup and tech communities. Immigration services startup Boundless is one of PSL’s more mature spinouts, having raised more than $18 million after making an acquisition in October. Given PSL’s expertise and connections, she said it can help disadvantaged people maneuver past roadblocks and get a leg up — and help level the industry-wide playing field in the process. Photo: J J D/Getty Images. 313 likes. Menu ← Home. About Pioneer Square Labs Pioneer Square Labs is a Seattle-based startup studio and venture firm that finances, creates and launches technology startups. Those who partner with PSL get access to a fine-tuned idea-testing machine and other valuable resources. by AlleyWatch. Workday buys Trusted Key in first exit for Seattle’s Kernel Labs, and a proof point for startup studios, Cybersecurity compliance startup StrikeGraph is the latest Madrona Venture Labs spinout, Bizible founder Aaron Bird raises $5.1M for new Seattle B2B startup studio Pienza, Seattle startup studio PSL teams up with publicly-traded industrial giant Fortive to create companies, Report: Bill Gates is largest owner of private farmland in U.S., with acreage across 18 states, Clap your mittens: Bernie Sanders makes his way to Seattle in meme that is taking over social media, Microsoft campus near Seattle will be used to administer COVID-19 vaccine, Amazon sends letter to President Biden, says it is ‘ready to assist’ with U.S. vaccination efforts, Like what you're reading? Buying a home is personal, and “home” means more than ever. See reviews, photos, directions, phone numbers and more for the best Analytical Labs in Pioneer Square, Seattle, WA. Idaho entrepreneurs should have more funding opportunities as new organizations are drawn to the region’s business success. But the firm is bullish about the future. Idaho entrepreneurs should have more funding opportunities as new organizations are drawn to the region’s business success. If you are a resident of another country or region, please select the appropriate version of Tripadvisor for your country or region in the drop-down menu. All. Looking ahead, a main focus for PSL is helping build companies with diverse teams. The Seattle region has seen its tech and startup ecosystem grow rapidly in recent years, buoyed by hometown giants Microsoft and Amazon, along with increased venture capital investments and more billion-dollar startups. Pioneer Square Labs. Our purpose. Please choose a different date. Startup studio in Seattle, WA. Pioneer Square Labs. Good rainy day choice for kids of all ages. “We think it’s irresponsible not to gather as much quality data as you can before you start building,” said Gottesman. by AlleyWatch. The idea is to build multiple startups, getting involved at the ground floor and helping recruit a team to carry the company forward. How about playing old video game consoles? That framework has proven to be valuable during the pandemic. “We’re in a unique position to remove some of that friction for strong entrepreneurs of diverse backgrounds, pandemic or not — but it’s especially powerful during a pandemic,” she said. As far as turning out early-stage technology ventures goes, Seattle-based Pioneer Square Labs has been at it since October 2015. It does not yet have a breakout star or Seattle’s next unicorn. Studio Ventures Companies Team Careers Feed. But in exchange, they may also give up more equity than a founder who raises investment from traditional investors. Some are serial entrepreneurs such as Brian Monnin, the former Play Impossible CEO who is now leading a new COVID-19-related smart camera startup called Quivr. Now you can add beauty to that list. We bring a wealth of experience as founders, investors, and operators. PSL raised an $80 million seed-stage venture fund in 2018, giving it flexibility to back up-and-coming companies that don’t go through its studio. Pioneer Square Labs is taking its startup factory model to the next level, teaming up with industrial giant Fortive for a "joint innovation studio" to help the publicly-traded company build new… Not only are the exhibits fairly engaging for younger folks, but there's enough real content to excite even the older geeks/history buffs. One of the first things that stands out is PSL’s high “kill rate.” To get to the 25 startups in the PSL portfolio, the firm eliminated about 215 ideas that didn’t make the cut. Gottesman countered the criticism about equity, noting that those who do not want the extra support and resources of the studio model can elect to pitch the firm’s traditional venture capital fund. Snowflake, which had a record IPO last year, “incubated” at Sutter Hill Ventures, as did pet-sitting service Rover at Madrona Venture Group. Very unique museum with exhibits covering 1970s onwards. We are funded by 13 VCs and 50 angel investors from Seattle, the Bay Area, Colorado, and other parts of the country. Editor’s note: This story was updated to reflect that Shipium is not a PSL spinout, but a PSL Ventures company. PSL’s long-term impact on the Seattle startup ecosystem remains to be seen. Julie Sandler, Pioneer Square Labs managing director, discusses the startup's business model and the future of artificial intelligence with Bloomberg's Emily Chang at … more, Recommended experiences in and around Seattle. by Taylor Soper on January 8, 2021 at 8:09 am January 8, 2021 at 8:08 pm Testing Labs in Pioneer Square on YP.com. They differ from accelerators, incubators, or standalone venture funds. Pioneer Square Labs is a startup studio that tests and validates startup ideas, then funds and hires a founding team around the most promising concepts. The flywheel is spinning at Pioneer Square Labs, the Seattle startup studio formed five years ago by a cadre of Seattle’s leading angel and venture capital investors. Twitter Linkedin Instagram Vimeo. Upstairs is a museu, This is a must see if you're in Seattle! It was created by PSL in partnership with industrial giant Fortive. Be sure to check out the Pioneer Building on 1st and James - gorgeous. Companies that spun out of Seattle startup studio Pioneer Square Labs over the past few years dabble in industries such as esports, cloud computing, real estate, advertising, sales tax, and virtual reality. The latest startup out of PSL is called Gemma Labs, a 81 reviews of Pioneer Square "First to review Pioneer Square? A majority of PSL spinouts have gone on to raise additional investment, including two — NextStep and Yesler — in the past week. It wanted a 20% stake in the company in exchange for $100,000. The startup studio – which spins up projects in-house and spins them out into standalone startup businesses – has finally closed the last LP capital for an $80 million fund, according to SEC filings published today . The startup studio concept is not new; Idealab was one of the first to find success, more than two decades ago. Plus your guide knows some of the best stops to make at some of the most beautiful places in the park. Literally. Going through periods of boom and near-bust, a renewal in the 1960s nearly destroyed most of it until a subsequent period of preservation managed to save and transform the area. “It’s probably too early to say if their model delivers long-term value to all necessary participants,” DeVore said. Most of the 25 PSL spinouts have launched in the past 18 months. Studio Ventures Companies Team Careers Feed. Now you can add beauty to that list. A new model for building companies We work with world-class entrepreneurs in the Pacific Northwest to turn the best ideas into market-defining, venture-funded companies with rapid customer adoption. So, there's a lot to be said about this part of Seattle. Pioneer Square Labs is a studio that creates and launches technology startups. That’s why startup studios are unique — and also a point of debate among entrepreneurs and venture capitalists. Literally. “That’s not an incubation — that’s almost like a hostage situation.”. The Weekly Notable Startup Funding Report takes us on a trip across various ecosystems in the US, highlighting some of the notable funding activity in the various markets that we track. First of all, like the name impl, The living computer museum surprised me more than a little. When is Living Computers: Museum + Labs open? Companies that spun out of Seattle startup studio Pioneer Square Labs over the past few years dabble in industries such as esports, cloud computing, real estate, advertising, sales tax, and virtual reality. A venture fund with founders at heart Investing in market-defining companies at Pre-Seed, Seed, and Series A. What hotels are near Living Computers: Museum + Labs? The place was a little hard to get to from the SODO Link station, but the m, You don’t have to spend much time in Seattle to run into Paul Allen’s legacy and Living Computers Museum + Labs is part of that. But he added that there isn’t enough data to assess PSL’s performance and impact on founders or later round investors. PSL has a maniacal focus on getting customer signal as quickly as possible for a potential idea. Techstars, another top startup accelerator that provides mentoring and networking access, takes a 6% stake of fully-diluted capital stock in exchange for $20,000. Alexander Day, co-founder of real estate startup Modus, worked with another Seattle-area startup studio — not PSL — when his company was getting off the ground. One-third of the studio spinouts are woman-founded — such as Remarkably and Gemma. Pioneer Square Labs is a Seattle-based studio that creates and launches technology startups. Twitter Linkedin Instagram Vimeo. “There are some billion-dollar companies in there,” said PSL managing director Greg Gottesman. See reviews, photos, directions, phone numbers and more for the best Testing Labs in Pioneer Square, Seattle, WA. Menu ← Home. 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