EDASC and RAIN Catalysts collaborate to foster economic development, inclusion

The Economic Development Alliance of Skagit County (EDASC) and RAIN Catalysts work together to catalyze economic development and foster an inclusive entrepreneurial ecosystem. Like EDASC, RAIN aims to reduce barriers to entrepreneurship and innovation for underrepresented populations and communities. By adopting a community-informed approach, RAIN Catalysts and EDASC engage stakeholders, identify strengths and gaps, and develop programming tailored to Skagit County's entrepreneurs' needs.

Fostering an inclusive entrepreneurial ecosystem: RAIN and EDASC

Jonathan Carpenter Eells, Skagit Venture Catalyst for the Regional Accelerator & Innovation Network - RAIN Catalysts, highlights the importance of tapping into the talent, leadership, and existing work of organizations and leaders in Skagit County to foster an inclusive entrepreneurial ecosystem. 

Eells says, “The partnership between EDASC and RAIN focuses on providing outreach and raising awareness about available resources for entrepreneurs. One key objective is to increase access to capital and create funding opportunities to support businesses owned by individuals from diverse backgrounds.” 

In partnership with EDASC and Island County EDC, RAIN Catalysts actively supported the Small Business Innovation Fund grant from the Washington Department of Commerce. The grant enabled significant resources to be put toward three business accelerator courses (one in Spanish) in the first half of 2023 focused on capital access and destination marketing. Numerous mentoring sessions provided guidance and support to the accelerators’ participants. 

The Spanish-language accelerator “boot camp” had the participation of 30 startups and small businesses from the Latinx community in Skagit County. Additionally, as part of this initiative, $50,000 was granted to 10 small businesses and entrepreneurs from this community, empowering them to grow and prosper.

As part of the grant, $277,500 has been distributed to 15 chambers of commerce and downtown associations, plus one tourism group across Skagit and Island counties. Moreover, a projected $459,000 will be distributed to 62 small businesses across the two counties, with 30 enterprises from Skagit County expected to receive $192,500 in grant funds. These funds will undoubtedly boost the growth and development of these businesses and support the region's greater economic growth.

This collaborative effort has already supported over 100 Skagit County businesses through the Small Business Innovation Fund grant.

Collaborative Partnerships and Resources: Skagit Venture Catalyst

With the Small Business Innovation Fund grant complete, the focus shifts to Skagit Venture Catalyst, a collaboration between RAIN and EDASC. 

“This initiative aims to connect entrepreneurs with essential resources, including physical assets, mentors, workshops, accelerators, and capital. Skagit Venture Catalyst will work toward leveraging existing resources in Skagit County while identifying gaps in the entrepreneurial ecosystem. By collaborating with county partners and organizations, efforts will be made to fill these gaps and strengthen the support system for entrepreneurs,” Eels says. 

Eells works closely with EDASC’s Jorge Estefan, who heads the organization’s efforts in equitable economic development.

“So often, our underserved communities don’t know where to begin when they want to start or grow their business,” Estefan said. “Having Jonathan and RAIN working toward the same goal to identify our entrepreneurial ecosystem ensures we can reach more entrepreneurs with the information they need for success.”

Leveraging expertise, resources, and partnerships

Through their collaborative efforts, RAIN Catalysts and EDASC are actively working to reduce barriers to entrepreneurship and innovation for underrepresented populations and communities in Skagit County. With a focus on providing education, mentorship, funding opportunities, and advocating for equity and inclusion, this partnership holds great promise for the economic growth and empowerment of the region. 

“The EDASC-RAIN partnership is focused on providing outreach and awareness to bring attention to the many available resources for entrepreneurs in Skagit County,” Eels says. “Our role chiefly lies in reducing the barriers that often dissuade business owners from applying for funding opportunities. Connecting resources with entrepreneurs is challenging, but we are here to make it happen.” 

Are you a business owner or an Investor? Would you like to contribute to the creation of prosperous economies? Visit skagit.org and raincatalysts.org for more information.