Matchstick Lab Secures $75,000 SBA Award to Build Kitsap’s First Capital Formation Initiative

Matchstick Lab has received a $75,000 award from the U.S. Small Business Administration’s 2025 Growth Accelerator Fund Competition, positioning the organization to launch Kitsap County’s first coordinated effort to expand local access to capital.

The award places Matchstick Lab among just 76 recipients selected nationwide from what the SBA described as the largest applicant pool in the program’s history. The funding will support development of a countywide Capital Formation Initiative—an effort focused on mapping the investor landscape, assessing funding gaps for startups and small businesses, and convening stakeholders to build a long-term strategy for strengthening Kitsap’s capital environment.

“Entrepreneurs across Kitsap have told us again and again that access to capital is one of their greatest challenges,” said Matchstick Lab Executive Director Alanna Imbach. “Too many promising businesses stall out because the funding pathways just aren’t there, or they have to leave Kitsap to find them. With this award, we finally have the means to build a foundation that keeps innovation and investment rooted in our community.”

Building a New Investment Pipeline

The Phase One award will fund research, engagement with local investors and entrepreneurs, and development of a capital formation roadmap tailored to Kitsap’s distinct business landscape. The findings are expected to support a Phase Two proposal that would formalize investor networks and create more structured pathways for local founders seeking early-stage capital.

The initiative is expected to become the first known capital access strategy designed specifically for the West Sound entrepreneurial community.

Advisory Board Member and former Voyager Capital cofounder Enrique Godreau III said the region is ready for coordinated investment work.

“As someone who has spent a career building and observing innovation networks in many regions, it is clear that Kitsap is poised for this breakout moment,” Godreau said. “This Growth Accelerator Fund Competition Award accelerates the ability to build a strong capital environment right here in the Kitsap—one that can attract investment, unlock founder capacity, and generate long-term prosperity for the community.”

Strengthening the Entrepreneurial Ecosystem

Matchstick Lab has emerged as a central connector in Kitsap’s startup scene. Its programs — including the Firebrand Unconference, the Micro Business Accelerator, partnerships with the U.S. Navy’s Northwest Tech Bridge, and peer networks such as Entrepreneurs Anonymous — have helped establish a shared infrastructure for founder support.

The new capital initiative is designed to complement these efforts by pairing founder readiness with investor engagement. It also aims to strengthen the relationship between capital and community by activating local investors and linking them with ventures developed within Matchstick Lab’s programs and nurtured inside Vibe Coworks, the region’s central hub for entrepreneurial activity.

The goal, Matchstick Lab says, is to ensure that businesses with high growth potential can stay rooted in Kitsap while accessing diverse funding sources comparable to those found in larger metropolitan markets.

“This award shows that what we’re building here can be a model for inclusive growth,” Imbach said. “We envision a future where entrepreneurs in Kitsap can access diverse funding sources as easily as they would if they were in a major city, supported by a strong network of angel investors, financial institutions, and venture capital.”

Call for Participation

Matchstick Lab is now seeking prospective angel investors, venture capital partners, and philanthropic leaders interested in supporting the initiative. Those wishing to participate or learn more can contact Imbach at alanna@matchsticklab.co.

The Growth Accelerator Fund Competition, launched a decade ago, has awarded more than $33 million to innovation hubs nationwide. This year marked its most competitive cycle to date.

Matchstick Lab’s award signals growing recognition of Kitsap County as an emerging innovation corridor—and gives the region its first opportunity to build a sustainable, homegrown investment ecosystem from the ground up.