Path Ahead Ventures

Frequently asked questions

• What is the focus for Path Ahead Ventures? How were the programs determined?

  We are seeking U.S. based companies that inspire and equip people in their outdoor lives through products, services, and experiences. We focus on supporting founders of color across Black, Indigenous, Latina/o/x, and AAPI communities.
  
  In 2020, REI accelerated and broadened its work and commitment to racial equity by embarking on a learning journey to understand the barriers, biases, and inequities that exist within the co-op and broader outdoor industry. Path Ahead Ventures was born out of this work, and developed with input from founders, community leaders, and Racial, Equity, Diversity, and Inclusion (REDI) Advisors through over 100 hours of listening and discussion.  

  Our commitment to this work includes the following:

  • Dedicate $30M to empower founders to cultivate, grow and scale their businesses faster
  • Invest and partner with 300 current and aspiring founders of color
  • Build a dedicated network of partners and 1,000 domain experts for founders to call on
  • Establish an industry-wide resource for fueling entrepreneurship, innovation, and job growth among under-represented groups

   

• How are the Embark and Navigate programs different?

  Each of our programs is focused on different stages in a Founder’s journey.

  • The Embark program is for aspiring founders with early-stage ideas, and for companies that are pre-product, pre-revenue, and are often self-funded. This program focuses on addressing the needs of aspiring founders who have historically been underrepresented and under-resourced, with a focus on the Black, Indigenous, Latina/o/x and AAPI communities. 
  • The Navigate program is designed for founders of color with companies that have aproduct in the market, but have low revenue (or are pre-profit), and are funded through crowdfunding, micro-VCs, or angel investors.

• How will Path Ahead Ventures select participants?

  Participants will complete an application and those who are selected to move on to the next round will complete video interview(s) with members of our Selection Committee(s). Our selection criteria is based on the following:

  • Compelling product or clearly articulated solution
  • Founding team member or leader from a historically underrepresented background
  • Founder(s)/leader(s) have relevant experience and expertise
  • Company is in a category related to the Outdoor sector, including:
    • Brands and physical products
    • Any category / activity currently in REI stores, website or REI Adventure Centers
    • Health and Wellness
    • Services / Experiences

• Are these programs in-person or virtual?

  The Embark program is entirely virtual. The Navigate program will be a hybrid experience with participants spending approximately two weeks of the program in-person with the PAV team and their cohort.

• What happens after the programs? Will founders’ products be sold in REI stores?

  After completing Embark or Navigate, participants transition into our Alumni Network where they will have access to engagement and continuous growth opportunities. For Navigate program participants, it is our intent that they have the option to integrate into REI’s ecosystem within two years of having completed the program – i.e. become part of REI’s assortment, develop a partnership or sponsorship with REI, etc.

• Does Path Ahead Ventures invest?

  Path Ahead Ventures provides various funding options intended to meet entrepreneurs where they are in their journeys. We actively make direct, equity investments through our $30M fund. Our Embark and Navigate program participants receive equity-free grants to kickstart growth. Navigate participants also have the opportunity to receive optional, flexible equity investments.

• How does Path Ahead Ventures fit into REI’s other Racial Equity, Diversity, Inclusion efforts?

  Path Ahead Ventures is part of REI’s Racial Equity, Diversity, and Inclusion initiative, dedicated to building a more inclusive, affirming and welcoming co-op and outdoors. The effort includes the organization’s commitment to diversify its workforce, its product offering and its supplier base.

  Path Ahead Ventures specifically focuses on accelerating the success of founders of color in the outdoor industry. This involves dismantling barriers and biases that have historically prohibited entrepreneurs, limited customers and held back the industry. Together, we want to create an outdoor industry where economic opportunity and success reflects the true diversity of people who love, protect and share life outside.

  Learn more about REI’s other Racial Equity, Diversity, Inclusion efforts.

• When do Path Ahead Ventures programs run?

  Our Embark program runs January-April and our Navigate program runs August-November. We will continue to evaluate the frequency and timing of our programs as our work evolves.