Remain Ventures has strategically partnered with the Nantucket Chamber of Commerce to encourage and strengthen the local economy. The shared inititives have been diverse and broad-ranging and all aimed at bringing vitality and sustainability to the Nantucket business community.

The Nantucket Chamber of Commerce was founded in 1934 and incorporated in 1954. It is the primary organization dedicated to promoting the interests of the business community. With over 750 businesses, nonprofit and individual members, the Chamber is also concerned with the ongoing viability and vitality of the historical, cultural, civic, environmental and recreational features that position Nantucket as a premier destination for visitors and provides a special way of life for its residents. 

Much of the work of the Chamber aligns with the goals of Remain Ventures making the organization a natural partner. Remain’s investment in the Chamber began with sponsorship of their signature events, including The Daffodil Festival, Cobblestones and Cranberries, Nantucket Noel and Christmas Stroll and the Red Ticket Drawing on Christmas Eve. Over the years, this has led to some interesting collaborations like helping the Chamber staff efficiently and responsibly sort garbage at events or underwriting the purchase of LED lightbulbs for the holiday trees that line the downtown streets during Nantucket Noel and Christmas Stroll. Some of the more recent opportunities for collaboration have been in educational and peer-to-peer support of small businesses and entrepreneurs. 

Nantucket Island Center for Entrepreneurship

The two organizations partnered to launch the Nantucket Island Center for Entrepreneurship (NICE) in January 2019. NICE offers one-on-one mentoring and group educational programming designed to help local entrepreneurs succeed on Nantucket. NICE is part of the Chamber’s growth initiative program to support the local business community. The Chamber tapped Karen Macumber, a serial entrepreneur, business owner and year-round resident, to pilot the program. 

Over the years since its launch, NICE has worked with many business owners, providing both incubator and accelerator opportunities. By building a network of advisors on Nantucket and across the Cape and Islands, NICE was also able to help business owners tackle subjects such as marketing, finance planning, insurance, real estate and succession. In addition, Karen worked with local businesses to identify grants, including the Rock Solid Grants funded by the Town of Nantucket and Remain Ventures, and state and regional grant opportunities to boost technology and other vital initiatives.

Starting in 2023, NICE programming has been rolled into the Chamber’s overall educational efforts. Please reach out the Chamber directly to learn more.

Rock Solid Grants

The Rock Solid Grants are administered by the Chamber and provide funds to Nantucket-based small businesses to ensure their contribution toward a strong local economy. The Grants are supported by The Town of Nantucket and Remain Ventures and are intended to launch or grow businesses. For-profit businesses on Nantucket (both established and new businesses) can qualify for participation in the application process. 

Applicants are asked to use the grant funding to execute an innovative project to ensure the growth and economic stability of their own business while also creating a positive role model for others in the entrepreneurial community. To learn more about the Rock Solid Grants, visit the grants page at Chamber website. 

Pitch Competition 

Another exciting initiative of NICE was an annual Pitch Competition. The “Shark Tank”-inspired live program ran from 2021-23 and provided extensive one-on-one coaching to participating entrepreneurs. Following an open submission process, up to 10 finalists were invited to pitch their business plan to a panel of judges. Each pitch was limited to a three-minute presentation, followed by a Q&A with the judges. Cash prizes and opportunities for media exposure were then awarded to the winners.