The Economic Development Council for Island County (Island County EDC) submitted a bold proposal to the Washington Department of Commerce’s Small Business Innovation Fund grant program in partnership with the Economic Development Alliance of Skagit County (EDASC) and the Regional Accelerator & Innovation Network (RAIN Catalysts) to help elevate a regional/rural entrepreneurial ecosystem in Island and Skagit Counties. The $1,159,216 funded project support small business recovery and spur entrepreneurship through a carefully designed program that will connect rural, BIPOC, women, and low-income entrepreneurs to the experts, tools, and capital they need to boost their businesses in the two-county region.

The Island County EDC-funded program – called “Elevating & Investing in Underserved Small Businesses in Rural Island County + Skagit County," – will run fthrough June 1, 2023 and includes the following programs.

All programs are free to Island County and Skagit County small businesses and startups:

• RAINCAP BOOTCAMPS – Helping small businesses raise capital (e.g., finances, data-informed decisions about amount/use for capital, deal structure). (English + Spanish).
  • February (February) - registration is now closed.
  • April (Spanish) - registration now open
• DESTINATION CREATION ACCELERATOR – Helping small, rural businesses elevate their unique products, services, and personalized experiences to attract out-of-market consumers and locals to their unique “destination.”
  • March - registration closed.
• A MENTOR NETWORK – Matching rural entrepreneurs participating in the Destination Creation Accelerator and RAINcap Bootcamps with an expert in their industry (e.g., food & beverage, tourism, retail, technology) or an expert who can help them solve a business challenge (e.g., sales/marketing, finances, human resources) by leveraging RAIN Catalysts’ network of expert mentors.
• AN “AMPLIFY” SMALL BUSINESS FUND – Providing grant funds to Chambers of Commerce, Main Street/Downtown/Waterfront Associations, and tourism organizations to amplify rural small businesses.
• A “BOOST” YOUR BUSINESS FUND – Providing grants to small businesses that are led by BIPOC, women, low-income, and rural entrepreneurs. Categories include:
  • LAUNCH: e.g., develop brand, online presence, launch events
  • GROW: e.g., improve business processes, purchase inventory/equipment, hire contractors
  • SKYROCKET: e.g., hire staff, purchase inventory/equipment, open a brick/mortar location)
• TECHNOLOGY & TOOLS
  • 1-year LivePlan business planning & financial management licenses for businesses
  • 1-year QuickBooks Online licenses for businesses
  • Computers for Island County EDC and EDASC to make available for use by rural entrepreneurs who need access
  • Meeting Owl Smart Video Conferencing Systems for the Island County EDC for use on Whidbey and Camano Islands to increase access, collaboration, and distance learning