Economic Impact Catalyst celebrates six years

Economic Impact Catalyst (EIC), a Clearwater-based technology and market research firm, is celebrating its sixth anniversary this month. Founded in 2018 by CEO David Ponraj, the company has grown to become a key player in economic development, particularly in supporting state and federal programs aimed at fostering inclusive economic growth.

EIC’s mission has been to remove barriers to entrepreneurship, particularly for minority groups such as people of color, immigrants, veterans, women and returning citizens. 

“Small businesses in the U.S. start with the promise of the American dream,” said Ponraj. “Yet many Americans face barriers in their pursuit of this dream. Our primary mission is to support economic and community development professionals by giving them the tools and data needed to achieve this goal.”

The company has established itself as a reliable partner for government agencies, leveraging its technology platform, Startup Space, to streamline program administration and enhance the impact of funding initiatives. EIC’s work with federal economic development programs has helped ensure efficient and transparent fund distribution. Partnerships with state governments, including those in California, Iowa, Mississippi, New Mexico and Michigan, have also enabled data driven decision-making to maximize the effectiveness of state-level funding programs.

“Six years ago, EIC was an ambitious idea with a small team passionate about driving economic progress,” said McKenzie Dial-Fritscher, the company’s Chief Operating Officer. “We’re now working with economic development leaders across nearly three dozen states. The trust and partnership from these organizations have been invaluable. Together, we are making a real impact – attracting new businesses, creating jobs and uplifting communities that have historically faced barriers.”

EIC partners with over 100 economic development agencies, helping them streamline their development efforts through a unified platform that manages initiatives such as the State Small Business Credit Initiative (SSBCI), American Rescue Plan Act (ARPA) funds and the Build Back Better Regional Challenge (BBBRC). The platform facilitates mentorship, grant management, educational programs and technical assistance, leading to greater efficiency and impact. The company now supports $100 million in small business programs and over 40,000 small businesses nationwide.

“Economic Impact Catalyst’s growth is reflected not just by its size but by its innovation, adaptation and commitment to a brighter future,” said Kim Vogel, Chief Strategy and Marketing Officer at EIC. “EIC is dedicated to entrepreneurship-led economic development and will continue to pursue data driven excellence that tells the human stories of entrepreneurship, focusing on communities working to ensure economic prosperity.”