76 Underrepresented Entrepreneurs Complete RAIN Catalysts Accelerator, Driving Innovation in the Pacific Northwest
FOR IMMEDIATE RELEASE
June 13, 2024
Contact:
Rachel Jagoda Brunette: RAIN Catalysts, Chief Executive Officer, [email protected] | 503-310-4219
Tech startup companies that are redefining the future of innovation in the PNW graduated from a RAIN Catalysts-led accelerator aimed at helping underrepresented entrepreneurs reduce barriers to accessing capital and other resources to launch and scale.
Wilsonville, Ore. – Seventy-six dynamic entrepreneurs from Oregon and Washington celebrated the conclusion of the transformative 10-week RAIN Catalysts Tech Accelerator designed to empower underrepresented entrepreneurs. This program provided the critical support needed to reduce barriers to accessing capital and other essential resources, enabling diverse tech startups in the Pacific Northwest to scale and innovate effectively.
The cohort was impressively diverse: 52% of the founders were female, 48% were black, indigenous, and people of color (BIPOC), 14% identified as LGBTQIA+. Participants represented both urban (64%) and rural communities (36%), with 69% hailing from Oregon and 31% from Washington. Speakers and mentors mirrored the diversity of the participants, with 70% women and 38% BIPOC experts providing education and mentorship.
Fifty-eight entrepreneurs qualified for “Graduation” status following a rigorous curriculum that included training from seasoned startup leaders and experts from Oregon and Washington, including Jim Gibbs (CEO/Founder, MeterFeeder), Jill Nelson (former CEO/Foundation, Ruby.com), Paula Hayes (CEO/Founder, Hue Noir), Shashi Jain (Venture Partner, Portland Seed Fund), and many others.
The tech industries represented in this accelerator cohort were remarkably varied, spanning AgTech Artificial Intelligence (AI), Big Data (IoT), BioTech, Clean/Green Tech, Cloud Tech, Cyber Security, Digital Marketing Tech, E-Commerce, EdTech, Environment & Energy Tech, FinTech, Food & Beverage Tech, Hardware, Healthcare Tech, MedTech, Military/Defense Tech, PaaS, Robotics, Semiconductors, and SaaS.
RAIN Catalysts partnered with Portland Seed Fund to facilitate funding opportunities for eligible Accelerator graduates who will be referred for investment consideration. The highlight of the graduation event was the “Demo Day” where six startups delivered speed pitches, each lasting three minutes. The pitch competition winner, Annum, led by CEO/Founder Jerryck Murrey, received a $1,500 cash prize from the Portland Seed Fund.
Angela Jackson, Managing Partner of the Portland Seed Fund, said: “I am incredibly impressed by the volume and quality of tech companies emerging from this accelerator. The innovation and determination demonstrated by these founders is inspiring, and I am excited to meet more of them to consider for investment. They represent the future of technology in the Pacific Northwest.”
Rachel Jagoda Brunette, CEO of RAIN Catalysts, added: “Entrepreneurs are a key driver of economic growth in the Pacific Northwest. Expanding access to crucial resources–especially for people who are underrepresented in high-growth sectors–ensures that economic growth is inclusive and equitable. We are eager to see these companies thrive and grow.”
Suzie Glenn, CEO/Founder of penpharmrx.com, said, “I have already learned more in the 4 weeks of the accelerator than in my MBA! The connections and learning from those who have been there before is invaluable." Keona Moy, CEO/Founder of vktori.com, also shared her enthusiasm: “I really enjoyed the mentorship opportunities and accountability piece."
Caroline Cummings, who coordinated the Tech Accelerator for RAIN Catalysts, added, “This accelerator is more than a program; it’s a movement towards equity and inclusion in the tech industry. By providing access to capital, mentorship, and networks, RAIN and Portland Seed Fund are supporting these entrepreneurs while also enriching the entire Pacific Northwest’s innovation ecosystem.”
The RAIN Catalysts Tech Accelerator was primarily funded by the U.S. Economic Development Administration (EDA) with additional funding from Washington State Microenterprise Association, Rational Unicorn, Portland Seed Fund, the Economic Development Alliance of Skagit, 18 Oregon cities (Florence, Cottage Grove, Creswell, Oakridge, Lowell, Veneta, Prairie City, Canyon City, John Day, Adair Village, Philomath, Tangent, Halsey, Lebanon, Brownsville, Sweet Home, Harrisburg, Monroe), and 3 Oregon counties (Lane, Grant, Benton).
ABOUT RAIN CATALYSTS
Regional Accelerator & Innovation Network (dba RAIN Catalysts) is a 501(c)(3) non-profit organization that is run by experienced entrepreneurs and local entrepreneurial ecosystem-builders. RAIN Catalysts exists to reduce barriers to entrepreneurship and innovation for underrepresented populations and communities. RAIN Catalysts’ community-informed approach is investigative, not prescriptive – which means we join-in to existing community activities/conversations, engage local stakeholders, listen, map ecosystem assets, identify and leverage strengths, identify gaps, and spin-up programming that meets the needs of that community’s entrepreneurs. Since 2014, RAIN Catalysts has been invited to serve 52 communities in Oregon and Washington to help them build inclusive entrepreneurial ecosystems and innovation economies.
RAIN’s Mission is to partner with communities to catalyze inclusive entrepreneurial ecosystems, connect entrepreneurs to resources—including overlooked entrepreneurs—and contribute to the creation of prosperous economies.
RAIN’s Vision is that communities everywhere support, value, and celebrate all entrepreneurs; regional leaders recognize entrepreneurs are a primary creator of net new jobs; communities of any size have thriving economies, and a culture of possibilities is embraced.
How RAIN Catalysts Builds Entrepreneurial Ecosystems [1-min video]
For more information, visit www.raincatalysts.org
###