During the pandemic, millions of people across the USA decided to chase their dreams and start a business. In 2021 there were 5.4 million new businesses, up from 4.4 million in 2020 and 3.5 million pre-COVID in 2019. Here in Oregon, we had 53,900 new business applications last year.
On average, 20 – 30% of new small businesses fail in their first year of business. So where can local entrepreneurs turn to get help to not be one of the failed businesses? One free resource that helps startups is Oregon RAIN – Regional Accelerator and Innovative Network.
Oregon RAIN, established in 2014, is a non-profit which partners with communities to encourage entrepreneurship, innovation and job growth. It is run by experienced entrepreneurs – called Venture Catalysts – and angel investors. The programs currently serve 23 cities and five counties, including Benton and Linn. As support, the organization avoids a one-size-fits-all approach, instead building upon “entrepreneurial ecosystems” to accomplish its goal.
Entrepreneurial Ecosystem
“We like to describe what we do as creating Entrepreneurial Ecosystems of support,” says Nate Conroy, Venture Catalyst for Benton and Linn counties during a recent Wine & Web meetup held at Monroe’s Broadley Vineyards. “The big thing is to meet entrepreneurs where they are, help them prioritize next steps in their business so they make progress.”
At the meetup, he asked attendees to share their needs because his priority is to listen to the community and provide that help.
Oregon RAIN’s Impact Report says that Venture Catalysts like Conroy “promote community participation and support of the regional entrepreneurial ecosystem by matching entrepreneurs with people – mentors and talent; programs – workshops and accelerators; physical assets – space and equipment; and capital – access to loans and equity, to help them start or scale their ventures.”
Helping Communities
Philomath entrepreneurs benefit from RAIN’s offerings and support. For example, SoftStar Shoes, who worked with RAIN, renovated a historic building in Philomath for their headquarters, and has grown to over $5 million in revenue. Maureen Nikaido of Moku Chocolate has also been working with Conroy and the RAIN team.
Former Philomath Mayor Eric Niemann says, “RAIN is a good way to help multiple small communities that do not have their own standalone Office of Economic Development to depend on as we respond to COVID-19 stuff. It will be critical help as we attempt to rebuild struggling small businesses.”
Niemann continued, “Resources, ideas, and encouragement will be essential after experiencing loss of staff, loss of customers, loss of revenue, and loss of hope. Venture Catalysts can help motivate people, link them to relief resources, inform them about business opportunities, and help restore hope. ”
OSU Partnership
Corvallis resident Mario Magaña Álvarez, Oregon 4-H State Outreach Specialist for OSU Extension & Outreach Services and Oregon RAIN Board Member, is impressed with how they provide help for communities that otherwise lack many support systems around the state.
“I’m so happy that we are supporting Latinx small businesses and under-served entrepreneurs,” said Álvarez. “I look forward to serving alongside and learning from this great organization.”
Corvallis’ community contributes to the entrepreneurial ecosystem. “The OSU Advantage Accelerator has been a wonderful partner of RAIN’s” said Conroy, when discussing how people learn about the organization. “Not only have we referred local entrepreneurs to go through their programming, but they have also helped us connect with researchers on campus who provide critical guidance that helps startups we work with get on the right track. On the flip side, when entrepreneurs finish the Advantage Accelerator, RAIN is there to provide ongoing support as that business looks for physical space, additional funding or even to mentor others.”
RAIN Programs
Since in-person networking at monthly meetups in each community had been the thrust of RAIN’s programs, the COVID-19 lockdowns presented the organization with a challenge. In the summer of 2020, they pivoted by creating a 10-week virtual accelerator in the summer of 2020 called RAINmakers. This program attracted around 100 participants across Oregon. Each week offered a different business topic and expert speaker. For those who needed individual support, there were many opportunities to connect either with their county’s Venture Catalyst or ones from other areas.
Based on feedback and listening to the community’s needs, RAIN continues to offer a variety of programs. Even though the mask mandate has been lifted, many of the events are still on Zoom and can be attended from anywhere. Many of the shorter workshops can be found on their Facebook page “RAIN Catalysts.”
Two innovative cohort programs recently offered were ‘Art-After Hours Social Media and Branding Awareness’ – both geared towards helping artists – and the MONEYmaker Financial Accelerator. MONEYmaker was created for ‘wannapreneurs, entrepreneurs, sole-proprietors, and small business owners’ to learn from over a dozen financial experts about such topics as basic budgets, cash flow, grant and investment preparation, pricing, margins and ways to scale business. The goal is to help people grow their businesses with the aim of being able to give back to the community through jobs and increased spending.
Launching on April 26 is a program you can still join: the free 10-week Virtual Digital Sales & Marketing Accelerator. This cohort is designed to help Oregon entrepreneurs generate revenue online by learning about identifying your ideal client, sales funnels, how to sell on social media and how to buy digital ads. Applications for this cohort are due on March 23.
Vital Work
“The work we are doing is vital,” said Executive Director Caroline Cummings, “since new and young companies are the primary source of job creation in the American economy, with new businesses accounting for nearly all net new job creation.”
“Benton County has been a partner in this effort and a supporter for RAIN since almost the very beginning,” said Annabelle Jaramillo, former Benton County Commissioner. “And we are really excited that they are reaching out to rural communities. At Oregon RAIN they live, breathe, promote and grow the entrepreneurial spirit in Oregon. They are working with communities to create customized regional solutions and to help break barriers.”
Growing Businesses
Oregon RAIN is proud of their success in helping grow businesses. They have assisted 722 startups, helped create 512 jobs, and have over 200 accelerator graduates. One Corvallis RAINmaker entrepreneur working with the Benton County Venture Catalysts to launch The Mermaids Garden – a retreat center as well as a sustainable recirculating aquaculture system – is Dr. Melissa Bird.
“Working with Oregon RAIN was a great first step to launching our business,” said Bird. “We learned how to identify the resources needed to move our business forward. We look forward to working with them as we purchase property in Linn County and move into Phase 2 of our project.”
By Stacey Newman Weldon
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