Looking to build or invest in an Alaskan business? You’re not alone, and there’s plenty of great places to start with stakeholders across the state helping unlock the power of entrepreneurship and innovation for the community.

Check out all the programs and opportunities to #BuildTheAlaskaYouWant below!

Alaska’s entrepreneurial Ecosystem

Programs, Groups and Competitions

• List of Small Business Lending Resources in Alaska

• 1 Million Cups Anchorage - Perhaps the #1 way to enter the Alaska entrepreneurial ecosystem and discuss your startup idea. Come listen or give a short presentation on a business concept to a supportive community, getting constructive feedback.

• Alaska Investors Network - The statewide network of Angel Investors in Alaska, people who want to reinvest in companies in their community.

• Alaska Angel Conference - Annual event in the Spring, connecting investors (new and seasoned) with entrepreneurs seeking funding.

• Spruce Root's Path to Prosperity Business Plan Competition - An "idea to reality" business plan competition focused on providing both technical training and financing to Alaska startups (Southeast focused).

• Upstart Alpha - Startup accelerator by the University of Alaska offering a stipend to perform customer discovery.

• gBETA Alaska - Run by gener8tor, seven-week program for startups looking to raise funds for their business.

• Arctic Innovation Competition - Alaska's original idea competition. Win up to $10,000 just for your early-stage concept.

• Health TIE - An innovation hub that is a bridge between health and human service organizations and innovative entrepreneurial partners.

• Alaska Small Business Development Center - No-cost advising, educating and guiding both entrepreneurs and small business owners across Alaska.

• Alaska Women’s Business Center - Supports the startup and growth of women-owned businesses with the connections, resources, and training needed to successfully start and run a business.

Stay Connected

• Startup Digest Alaska - The #1 way to stay connected on a weekly basis with what’s happening across Alaska with entrepreneurship.

• Alaska Startups Group - A facebook community-curated page with a wealth of information, plus back and forth as to what’s going on.

Entrepreneur Education

• University of Alaska Anchorage, Minor in Entrepreneurship - An undergraduate series of classes (18 credits) which result in a minor in entrepreneurship. 

• Alaska Pacific University, Graduate Certificate in Entrepreneurship & Innovation - A short series of classes covering a wide range of entrepreneurial topics.

• Alaska Startup Weekend - A great starting point: Get exposed to how startups work while building one in a weekend. Keep your eyes open for this 48-hour event to build a business, which occurs in both Anchorage and Fairbanks at least once annually.

• Techstars Alaska Startup Week - Held each Fall to celebrate the world of Startups and Entrepreneurship in the Last Frontier.

Reports

• UA CED: Entrepreneurship in the Y-K Delta (2021)

• UA CED: Women and Entrepreneurship in Alaska (2018)

• UA CED: Alaska State of Entrepreneurship (2018)

STATE OF ALASKA PUBLICATIONS

Documents published by the state on securities matters:

• Alaska Crowdfunding Exemption: Innovating Alaska Act—This is the web portal for the state’s “crowdfunding” law, the Innovating Alaska Act. There’s an excellent FAQ on the site as well as the changes to state law creating the intrastate funding exemption.

• Thinking of Raising Capital For Your Business? (PDF)—A solid primer on what raising capital means, and its legal implications. See our cautionary note below.

49SAF INVESTMENT DOCUMENTS

These documents are of use to our partner fund managers, investees, and other related parties:

• Compliance Checklist (pdf)—Checklist 49SAF reviews to help determine transaction compliance with our federal dollar (“SSBCI”) requirements.

• Federally Required Certifications (pdf)— Prior to placing any transaction, funds must sign one certification (Investor use of Proceeds) and have the company (investee) sign two (Investee Use of Proceeds, Sex Offender).

• Transaction Enrollment Form (excel)—All funds must submit one to 49SAF after placing any transaction (excel)

• 49SAF Confidentiality Certification (pdf)—49SAF may ask certain parties (eg advisors, professional service providers) to sign this Confidentiality Certification.

A word of caution for companies raising capital

It’s always worth being extra careful when raising capital to build a company, knowing the specific state and federal securities exemption you intend to rely upon that will allow you to “sell” investment in your company within the law. Raising money from others to build a business is sometimes necessary; it comes with legal implications. Saying the wrong thing, or advertising your offer can potentially subject you to enforcement risk. Be cautious.

How to proceed: If you’re a company seeking investment, be sure to:

a) Find a lawyer who can help you through the process to identify the right securities exemptions you’re going to rely upon; spend the money to identify the rules and take the right steps. It will save you in the long run.
b) Continue to be risk-averse when stating you’re raising capital for your company. It’s almost always a terrible idea to publicly state in a general, everyday setting that your company is raising money, or get into the details of your offer.

It’s expected and necessary that startups raise money for their firms; it can be awful when you run afoul of the rules. So talk to a lawyer, and know the regulations right for your company.

49SAF is constantly working to build a more entrepreneurial Alaska and you’re invited! We bring together investors, startups, ecosystem builders, and those looking to build new things in Alaska. Join us for programs that foster community. Take a look at what we offer — and the several other programs available across Alaska for entrepreneurs and investors.

49sAF’s quarterly events

49SAF Funds with Entrepreneurial Programming

For more information on these two funds, head over to our portfolio page or click through to their websites below.