This EDA investment funds the pacific northwest scalable technology startup business capital fund development project, to establish a project titled "elevating and investing in scalable technology…

This $3 million Economic Development Administration (EDA) Project Grant funds the Pacific Northwest Scalable Technology Startup Business Capital Fund Development Project administered as a strategic partnership between Regional Accelerator & Innovation Network (Rain Catalysts) and the Portland Seed Fund. The project aims to elevate and invest in scalable technology startups led primarily by Pacific Northwest women and Black, Indigenous, and People of Color (BIPOC) founders through Rain Catalysts' acceleration of inclusive regional entrepreneurial ecosystems and innovation economies. Key deliverables include reviewing/screening 500 business concepts, supporting 230-250 entrepreneurs, and providing $30-40k in funding to 30-40 startups. Additionally, 15-20 media activities will be held and 50-60% of funded businesses are expected to have women and/or BIPOC founders. This award supports the EDA's BUILD TO SCALE program goal of growing healthy technology-based economic development ecosystems where entrepreneurs can build and scale technology-driven businesses to create high-skill jobs.

This EDA investment funds the pacific northwest scalable technology startup business capital fund development project, to establish a project titled "elevating and investing in scalable technology startups led primarily by pacific northwest women + bipoc founders." the project will be administered as a strategic partnership between rain and the portland seed fund. Rain and portland seed fund will leverage each other's expertise to supercharge growth of the pacific northwest entrepreneurial ecosystem by elevating and investing in diverse, scalable technology startups. In addition, rain will accelerate inclusive regional entrepreneurial ecosystems and innovation economies through community-based events, educational workshops, and collaborative network of partners and stakeholders, helping the region's technology startups to be fund-ready and connecting them to the portland seed fund. Once completed, rain and portland seed fund expect to have 500 business concepts reviewed/screened, between 230-250 entrepreneurs supported, and 30-40 startups to have received funding. They also expect to have held 15-20 media activities, and for 50%-60% of funded businesses to have women and/or bipoc founders.