Elevate Capital to Direct $15 Million SSBCI Program Aimed at Funding Diverse and Disadvantaged Entrepreneurs in Oregon Over the Next Six Years
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Elevate Capital to Direct $15 Million SSBCI Program Aimed at Funding Diverse and Disadvantaged Entrepreneurs in Oregon Over the Next Six Years

Elevate Capital Takes on New Role in Supporting Oregon Startups

Elevate Capital, a venture capital fund in Oregon that’s all about inclusion, has just been tapped by Business Oregon to manage a big new program aimed at boosting local startups.

This program is part of the State Small Business Credit Initiative (SSBCI) and it’s designed to fuel the growth of Oregon-based businesses with a focus on diversity and inclusion.

SSBCI Venture Direct Program: What’s It About?

The SSBCI Venture Direct program is a big deal, offering up to $15 million in funding to startups across Oregon over the next four to six years.

The goal is to not only invest directly into these businesses but also to encourage even more investment opportunities for local startups.

To qualify for the program, each investment must come with a matching dollar-for-dollar commitment, making it a win-win for both entrepreneurs and investors alike.

The initiative places a special emphasis on backing businesses that are owned by socially and economically disadvantaged individuals.

At least 40% of the businesses in the SSBCI portfolio will come from these groups, ensuring the program reaches those who have historically faced barriers to access in the entrepreneurial world.

About Elevate Capital: Championing Underrepresented Entrepreneurs

Elevate Capital has been around since 2016, and its mission is to support underrepresented entrepreneurs—especially those from women, BIPOC, and LGBTQ+ communities.

The fund also focuses on founders from regions that may have limited access to capital.

Elevate works primarily with early-stage startups, helping them navigate high-risk ventures, particularly in industries like healthcare, life sciences, cleantech, and sustainability.

Through its Innovation Gap Funds, Elevate Capital has been a major player in supporting research-driven innovation in Oregon.

They’re all about filling the funding gaps for entrepreneurs who have groundbreaking ideas but lack the resources to turn those ideas into reality.

Looking Ahead: A Bright Future for Oregon’s Diverse Entrepreneurs

This new role for Elevate Capital is a major step forward in creating a more inclusive and dynamic startup ecosystem in Oregon.

By investing in a wide range of industries and focusing on underrepresented groups, the SSBCI Venture Direct program has the potential to transform the local business landscape, making it more diverse, equitable, and innovative.

The coming years will be exciting

This article was published on TDPel Media. Thanks for reading!

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