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The Catalyst Phase has three core goals: 

• To maintain and strengthen the regional We Prosper Together Collaborative, to allow for continued inclusive economic development planning at the regional level; 
• To stand up Sector Investment Coordinators to support the implementation of cluster strategies; and 
• To identify and fund Pre-Development activities for projects that will advance the region’s strategic priorities, as identified in the Planning Phase.

A total of $14M of funding is available in the Catalyst Phase. This funding is will be allotted to four different areas of activity, as follows: 

• $2M – We Prosper Together Collaborative Operations. This includes outreach and engagement activities, to ensure inclusion of disinvested communities; continuously updating research to keep plans current for future funding opportunities; supporting the Implementation Phase application process and supporting projects in obtaining additional sources of funding (private, federal, etc.).
• $1.5M – Sector Investment Coordinators. Funding and supporting sector coordination through staffing or contracted positions that will support the implementation of cluster strategies, including employing workforce pipeline development and economic development strategies and tactics.
• $9M – Project Pre-Development Activities. Catalyst Phase dollars are eligible to fund projects that are currently in their Exploratory or Last-Mile stages. “Exploratory” refers to agreed-upon ideas that are at the very initial phases and “Last-Mile” refers to agreed-upon projects that need the final piece of the puzzle to begin development. 
• $1.5M – Compliance and Grant Management for Funded Projects. This includes fiscal management and evaluation of the portfolio of projects that are awarded Catalyst funding. 

Valley Vision will continue in its role as Regional Convener, serving as the backbone of the We Prosper Together governance structure and Sector Investment Coordinators. Valley Vision will also continue in its role as the Fiscal Lead, and will be managing the application process, award and management of funds for project Pre-Development activities.

These dollars can fund Pre-Development activities associated with construction projects (e.g., feasibility studies, market analysis, environmental assessments, etc.) but not the construction itself, which would have to be funded through Implementation Phase or other funding sources.

The Catalyst Phase RFP is planned to be released in November. We anticipate that there will be two rounds of funding, spaced approximately six months apart.

The Catalyst and Implementation Phase differ in the stages of projects that they will fund, their timeline, and the entity administering the funds. 

1. “Pilot” Projects – A test of an idea that is intended to be scaled up.

2. Workforce development strategy to advance an industry. Eligible Catalyst projects include anything ahead of getting people into the program, and below are several examples:

• • Conducting a comprehensive needs assessment to identify gaps in the local or regional workforce.
  • Developing and supporting a stakeholder group of local providers, community colleges, workforce boards, and CBOs to design a program that meets community and employers’ needs.
  • Creating a recruitment strategy with partners to effectively reach individuals in disinvested communities.
  • Development of a curriculum to educate school-age children about career options.
  • Hiring a writer to apply for grants and solicit scholarship funding for future program participants.

3. Digital cooperative platform to improve decision-making in an industry sector. Eligible Catalyst projects include anything ahead of deployment of the platform.

• • Hiring an individual/firm to write a business plan.
  • Developing and supporting a stakeholder group of industry, local governments, partners, etc.
  • Establishing the data collection process and collecting data.
  • Designing the tool- user interface, algorithms, etc.
  • Developing a prototype.

4. Revolving loan fund to support industry advancement for small or mid-sized organizations/businesses. in the region. Eligible Catalyst projects include establishing the revolving loan fund and the steps needed to do so. Those may include:

• • Market analysis and needs assessment
  • Designing the fund structure and eligibility
  • Identifying other matching funds for the fund
  • Staffing and designing the lending process
  • Conducting outreach and technical assistance
  • Developing long-term plans for the fund

Project applicants will need to decide which funding stream fits best with the phase of development that their project is currently in. Currently, there is no prohibition against applying for both Catalyst and Implementation funds.

Eligible Projects must meet the definition of “exploratory” or “last mile” indicated above and advance one of the following industry sectors identified by the We Prosper Together initiative. Additionally, priority scoring will be granted to projects that foster growth in one of the following tradable industry sectors: 

• Biotechnology
• Precision Manufacturing 
• Working Lands 
• Business Services

The We Prosper Together Leadership Council approved three equity priorities: 

• Focus on community-centered, inclusionary practices that prioritize the unique geographic, and holistic needs, strengths, and perspectives of disinvested populations. 
• Advance economic mobility for residents of disinvested communities through participation as workers and business owners. 
• Include transparent programmatic procedures and community-involved decision-making.