$750,000 grant to Eugene’s Oregon Regional Accelerator and Innovation Network (RAIN) from Department of Commerce
United States Secretary of Commerce Gina Raimondo today announced the Department of Commerce is awarding a $750,000 grant to Eugene’s Oregon Regional Accelerator and Innovation Network (RAIN). RAIN will use the funds to support startups and small businesses impacted by the pandemic in Lane County and surrounding areas.
The Oregon Regional Accelerator and Innovation Network was one of 44 organizations, nationwide, selected to share $29 million in funding to address the economic risks caused by the coronavirus pandemic through entrepreneurship and innovation. Projects being led by other grantees include efforts to scale biotechnology and health security efforts, re-open businesses safely and upskill workers.
OREGON REGIONAL ACCELERATOR AND INNOVATION NETWORK
|Project Name||Rapid Recovery In Oregon: Building Resilient Regional Innovation Economies by Accelerating Delivery of Pandemic-Inspired Resources to Impacted Entrepreneurs and Activating Local Capital|
|Award Amount||Federal Share = $748,833|
|Local Match = $193,095|
Oregon RAIN will serve as a recovery and resiliency hub for startups and small businesses impacted by the pandemic in Oregon’s Lane, Linn, Benton, and Grant counties. As an established entrepreneurial ecosystem builder in this region, RAIN has the trust of entrepreneurs and a vast network to draw upon to swiftly spin-up and deliver these programs.
Oregon RAIN and our partners will deliver the following CEDS-aligned, just-in-time, technology-based, free programs that are designed in response to the pandemic.
- RAINmaker Accelerators: Pivot business models to address anticipated conditions, learn new digital sales and marketing techniques, and get connected to needed resources (people, programs, technology, and capital).
- MoneyMaker Accelerators: Address financial literacy deficits discovered during the scramble to submit financial documentation to get COVID emergency funding.
- RAINdrops Program: 1:1 mentoring to implement “Entrepreneur Resiliency Kits.” Entrepreneurs will learn how to rapidly convert to online sales, extend cash runways, and get matched with experts (digital marketing, bookkeepers/accountants, lawyers).