2022 RAIN MONEYmaker Financial Accelerator Graduation
Sixty-six entrepreneurs recognized for completing the 10-week financial accelerator program
The Regional Accelerator & Innovation Network (RAIN) awarded $10,000 to active and aspiring startups at the virtual MONEYmaker accelerator graduation and pitch competition on October 5th:
Best Overall Pitch ($3,000): Awarded to Sandhiprakash “Sandhi” Bhide, founder/CEO of Balak Drishti (AKA - Restore Sight) (Beaverton, OR) His startup is an early-intervention concept that provides good-quality, low-cost, and durable prescription glasses to impoverished children from across the globe who need glasses to continue their education. Bhide also won the audience vote for the People’s Choice Award ($1,000).
Best Business Idea ($1,500): Awarded to Pallavi Pande, founder/CEO of Dtocs Tableware (Portland, OR), a startup that makes sustainable, single-use disposable plates and bowls from naturally fallen palm leaves.
Best Ask ($1,500): Awarded to Earl Plumplee, owner of Popsies (Oak Harbor, WA). Plumlee made a compelling request for a $250,000 investment to execute several strategies for increasing their market share of the $9.8 billion popcorn industry.
Finalists ($500): Adriene Fritze (Conundrum House - Corvallis, OR), Dante Hamilton (Internet Webpages Newspaper - Chicago, IL), Vanessa Kempf (Vane’s Salsa - Eugene, OR), Maura Muhl (Wallabar - Hood River, OR), Angela Ridenour (New Mint Media Family Films - Eugene, OR), and Lauren Teague (FanWagn - Canby, OR).
“It is with great humility, humbleness, and gratitude, I want to thank RAIN for giving me 10 weeks of solid knowledge, wisdom, and support. I am thrilled to receive the honor of two awards, but more importantly, the network, relationships, and connections I have built are priceless,” said Bhide.
MONEYmaker is a free 10-week online financial accelerator program for entrepreneurs, startups, and small business owners who want to better understand their finances and feel confident in managing their business’s growth. Funded primarily by a grant from the U.S. Economic Development Administration, MONEYmaker cohorts met weekly to learn from business finance experts, get help from financial mentors, and grow and network with their peers.
“On behalf of the entire RAIN organization, I want to thank and congratulate all of our student entrepreneurs who made the commitment to learning and mastering the fundamentals of their business finances. Anyone can start a business, but to stay in business you need to do the hard and sometimes not-so-fun work of learning how to budget, price your product, raise money, manage cash flow, and keep the books. Armed with these new skills and competencies, I have every confidence that our graduates will not only be able to remain in business for years to come but grow to achieve their highest goals,” said RAIN’s Deputy Director, Robert Killen.
Overall, 66 entrepreneurs representing a wide range of industries completed the virtual 10-week MONEYmaker accelerator program. The state of Oregon was well represented with entrepreneurs participating from Eugene (12), Portland (8), Florence (5), and Cottage Grove (3) – among others. The program also drew seven participants from the state of Washington, as well as one each from Chicago, Illinois, and Oklahoma City, Oklahoma. This was RAIN’s most demographically diverse accelerator, as 34% identified themselves as a person of color, 70% identified themselves as part of an underrepresented community, and 75% of the graduates were women.
“RAIN is proud to support this class of MONEYmaker graduates who represent so much diversity of background, identity, geography, experience, and interests. Our organization and our partners are determined to reach more overlooked and underestimated entrepreneurs, and I am grateful to these individuals for trusting us to support their dreams and ventures,” said RAIN CEO Caroline Cummings.
So, what’s next for the MONEYmaker graduates? Many have plans to enroll in the RAIN Capital Access Program (RAINcap), a unique place-based crowdfunding initiative, hosted by Republic, for Oregon startups to raise capital using debt, equity, and hybrid instruments via Regulation CF – for as little as $100 – to just about anyone in the U.S. who is 18 years or older.
The MONEYmaker graduation keynote speaker was Portland-based angel investor, business advisor, and serial entrepreneur Devon Horace, who spoke about the “Three Entrepreneur Spirits.” Among his many roles and pursuits, Devon is Chairman of the Board for Alberta Main Street, Co-owner of Mister OK’s Essentials, and the founder of Horace Consulting, where he advises creatives, Startups, and influential global brands.
Long-time RAIN partner and supporter Oregon Pacific Bank generously sponsored the MONEYmaker graduation. And each MONEYmaker graduate was given a 3-month subscription to the business plan software LivePlan from Palo Alto Software Company.
About RAIN: RAIN (Regional Accelerator & Innovation Network) is a 501(c)(3) global non-profit organization that is run by experienced entrepreneurs and exists to reduce barriers to entrepreneurship and innovation. Since 2014, RAIN has been invited to serve 30 cities across 5 counties in Oregon to help them build inclusive entrepreneurial ecosystems and innovation economies. As of September 2022, RAIN has also been invited to serve Skagit County, WA’s entrepreneurial community as well as help advance women entrepreneurship in Islamabad/Rawalpindi, Pakistan.
RAIN’s Mission: 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: Communities support, value, and celebrate entrepreneurs; regional leaders recognize entrepreneurs are a primary creator of net new jobs; small and rural communities have thriving economies; and a culture of possibilities is embraced. Visit www.oregonrain.org to learn more.
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