Seattle-based Raynier Institute and Foundation is making its mark in the Philly area through a seed fund for underserved entrepreneurs.
The nonprofit, which funds projects or programs that work toward the “betterment of humanity” partnered with Drexel University and the University City Science Center to identify startups with an eye on supporting service organizations and improving equity.
Four startups were chosen for the first cohort of the Raynier Seed Fund for Underrepresented Entrepreneurs, which was first established with the Science Center and Drexel back in 2021 with a $500,000 grant to help address startup funding disparities within minority owned businesses. Each of the selected startups for this first cohort will receive a $25,000 investment, mentorship and entrepreneurial services support.
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