From the VC grapevine comes word of a new innovation in startup funding in Portland (and elsewhere), Oregon: the unemployment department
The Oregon Self Employment Assistance (SEA) Program helps eligible unemployed workers set up a business on a full time basis and still receive full unemployment benefits. …
To qualify for the SEA program, you must:
- have a viable business idea,
- be willing to work full time in developing the business, and
- have or be able to obtain the financial backing needed to start and sustain the business until it becomes self-supporting.
Kind of cool. Normally, I’d understand that there’s a hazard here (given that I am an investor in several Oregon companies that all pay unemployment insurance premiums, which could be raised if this gets exploited). But unfortunately, I paid enough premiums immorally required on myself (which payments I could never collect, because I was the entrepreneur and would have been ineligible had I quit) during my Oregon years that I feel a bit justified here.