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Startup 425 Foundations

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Startup 425 Foundations

King County Library System, Wash.

Workforce and Economic Development | 2019

Innovation Synopsis

This free series of six entrepreneurship classes is an innovative partnership of five cities, a nonprofit and KCLS. Its mission is to support creativity, innovation and sustainable entrepreneurship by lowering barriers to entry for non-traditional and first-time founders. This provides pathways to prosperity for all in our diverse community.

Challenge/Opportunity

Entrepreneurship skills are increasingly critical for economic success. According to Forbes, 43% of workers may be at least partially self-employed by 2020, and half of millennials already are. Yet founders from marginalized groups often do not receive fair levels of opportunity, education, capital and other essential resources. Startup 425 Foundations supports economic equity and resilience by making knowledge, tools and community support available at a welcoming location, at a convenient evening time and at no cost.


Key Elements of Innovation

Startup 425 Foundations uses an innovative collaborative model. Five cities, a nonprofit (SCORE) and KCLS work together to create community-centered opportunities for entrepreneurial equity. The cities identify class topics based on the needs of local entrepreneurs; SCORE provides curriculum, instructors and one-on-one coaching; and the KCLS Foundation offers funding. Libraries host all programs, and librarians teach participants about library resources they can use to grow their business even after the series ends.


Achieved Outcomes

Equity of access: Of 1,317 attendees at 47 workshops on six topics in 2018, 66% identified as female and 53% as people of color. Twenty-eight percent had incomes below 50% of AMI.

Learning outcomes: 96% of participants learned something new. Eighty-one percent better understood local resources. Sixty-four percent felt more secure in starting or operating a business.

Economic growth: Participants employed an estimated 370-650 people, and planned to create 200-650 more full time jobs in the next year. They anticipated $22-77 million in annual revenue.