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Press Release: Following a Competitive Nationwide Selection Process, Ada Jobs Foundation Chosen to Participate in 2020 Rural Innovation Initiative

1/13/2020 by Jessika Leatherbury
Tags: Press Release, entrepreneurship, innovation, small business, EDA

Following a Competitive Nationwide Selection Process,
Ada Jobs Foundation Chosen to Participate in 2020 Rural Innovation Initiative

Ada Jobs Foundation Will Receive EDA-Funded Technical Assistance from Rural Innovation Strategies, Inc. to Catalyze Entrepreneurship and Tech-Powered Job Creation in Rural Southeast Oklahoma




Ada Entrepreneurial Summit Roundtable Discussion. One of the programs organized by the Ada Jobs Foundation to facilitate and encourage entrepreneurship, startups and small business growth within the Ada area.

ADA, OKLAHOMA - Rural Innovation Strategies, Inc. (RISI), announced that the Ada Jobs Foundation has been chosen in a highly competitive process to participate in the 2020 Rural Innovation Initiative, a technical assistance program supporting rural communities working to create digital economy jobs with an innovation hub strategy.  
 
The Rural Innovation Initiative is made possible through a cooperative agreement between RISI and the U.S. Economic Development Administration. The Initiative was launched in 2018 by the Center on Rural Innovation (CORI) and its sister organization, RISI. In addition to the EDA, the Siegel Family Endowment and Walmart are providing funding for the Initiative. Rural LISC and Venable LLP are strategic partners.   
 
"We're excited to work with the Ada Jobs Foundation to grow the local digital economy ecosystem," said Matt Dunne, Executive Director of RISI and Founder of the Center on Rural Innovation. "Entrepreneurship is baked into the culture in Ada, and given the work AJF and its partners have been doing, the region is poised to be a leader in tech-powered innovation that creates opportunities for generations to come."
 
"This is a big opportunity for Ada to join other rural communities in our work to support entrepreneurs and technology development," said James Eldridge, President and CEO of the Ada Jobs Foundation. "We see this as an opportunity to build on our other successful programs for startups and small businesses in Ada."
 
The Ada Jobs Foundation and other Rural Innovation Initiative participants will receive a range of support, from on-site and video conference time with RISI staff to opportunities for collaboration with similarly motivated communities, as well as templates and written resources as they execute an innovation hub strategy: an economic development model that works to educate and train local residents in digital skills, employ them in new economy jobs, and empower them to launch the startups that will drive their digital economy.  
 
RISI will work with the Ada Jobs Foundation and other participants to identify and prepare for federal and other funding opportunities that fit their unique attributes and goals. Some 2020 Rural Innovation Initiative communities may choose to apply for federal funding opportunities like the Regional Innovation Strategies program this year if they raise up to $750k in matching funds in the first half of the year, while others will focus first on establishing plans and partnerships to build their digital economy strategies. Participants will also have access to significant technical assistance to refine their economic development strategies, help them identify partnerships, and leverage existing resources.  
 
The Rural Innovation Initiative launched in 2019 with nine participant communities. In its first year, the Initiative catalyzed $5.3 million
in new investment in rural innovation hubs. More than 110 communities from 37 states and Puerto Rico submitted requests to participate in the technical assistance program this year.  
 
The other 2020 Rural Innovation Initiative participants are:
 
"Momentum is building in small towns across the country for new strategies that leverage local assets and support sustainable economic success," said Dunne. "These communities are taking forward looking approaches that foster entrepreneurship, catalyze startups, and support strong local digital economy ecosystems. We are excited to work in conjunction with EDA and these communities to change the narrative about what's possible in rural America."
 
Participating communities were selected because they are in designated rural counties according to  U.S. Census definitions or consortiums of rural communities in close geographic proximity to one another. Successful communities have a combination of the following attributes:
  • Existing high-speed broadband;
  • Available real estate, or significant portions of the community located in Opportunity Zones and/or New Market Tax Credit census tracts;
  • A relationship with a four-year endowed residential college or university campus willing to partner in this effort; and
  • A nonprofit organization prepared to lead the initiative.
 
RISI is also creating a virtual network to support capacity building, link innovation hubs, enable communities to make connections to new sources of capital, expand their networks with national technology leaders, and secure digital economy jobs for remote workers in their communities.
 
RISI works with its sister organization CORI to achieve sustainable economic success in small town America. The first round of the Rural Innovation Initiative in 2019 catalyzed $5.3 million in new investment in rural innovation hubs in three small towns and brought nine communities into the virtual network. CORI developed and regularly updates the Rural Opportunity Map, a suite of data visualization and mapping tools to help local leaders, national policymakers, investors, and donors see the potential in rural America.
 
The Ada Jobs Foundation has launched several new programs for local entrepreneurs over the past two years. These include the Ada Entrepreneurial Summit, Startup Ada Bootcamp, and the Big Pitch event. In addition to these programs, the Ada Jobs Foundation has also supported the development of a Water Technology Innovation Cluster in the region. The Ada Jobs Foundation intends to use the technical support from RISI to explore ways to build capacity in Ada for new programs to assist local entrepreneurs.   
 
The Ada Jobs Foundation (AJF) contracts with the City of Ada to promote and recommend economic development opportunities with the city. AJF was established in 1998 to create and retain quality jobs for the Ada area. AJF serves as a "one-stop-shop" for economic development by coordinating with the city and other entities for Ada, Oklahoma's benefit. The Ada Jobs Foundation is a nonprofit organization, funded in part by membership dues and tax deductible contributions. In addition to membership dues, funding is provided by a contract with the City of Ada.


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This content was prepared by Rural Innovations Strategies, Inc. using Federal funds under award ED18HDQ3030013 from the U.S. Economic Development Administration, U.S. Department of Commerce. The statements, findings, conclusions, and recommendations are those of the author(s) and do not necessarily reflect the views of the U.S. Economic Development Administration or the U.S. Department of Commerce.