Formed in January 2003, the Open Source Portfolio Initiative (OSPI) is a collaborative, open-source, software development project based on the University of Minnesota Enterprise System's electronic portfolio software. The University of Minnesota (U of MN), University of Delaware, and the r-smart group, founded this collaborative to open the evolution of the U of MN ePortfolio to diverse input, rapid development, and widespread use.

In January 2004 the Mellon Foundation matched contributions from Indiana University and The rSmart Group to fund the development of OSP 2.

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