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Employment incentives. Growth rebates. Tax credits. Our government tries to make billions of dollars available to America’s manufacturing businesses, but much goes unclaimed and misunderstood. Meaning lost capital to reinvest, growth and hire.
Fortunately a startup can solve this problem! Subcity.
WHO: Alex, Gil, and Chris united around a common goal: to help American businesses take full advantage of the government incentives put in place to help them grow. We met Subcity’s CEO Alex via mutual friends, some of whom had invested in his previous startup, Next Big Sound, which had exited to Pandora in 2015.
WHAT: We love capitalism! Unfortunately late stage capitalism has also become increasingly complex and regulated, often creating circumstances where businesses outside of the Fortune 500 struggle to understand the financial incentives put in place by federal, state and local governments to help them succeed. Subcity is facilitating access to tax incentives, government grants and other benefits that these businesses are owed. Starting with manufacturers.
HOW: Cofounder Gil’s previous business had been focused on executing Subcity’s mission on a local scale. He saw how powerful these incentives were for small businesses and was incredibly successful negotiating $150m+ in payments for his clients. But he also knew that this was a tiny fraction of the pool that companies across the country were eligible to receive. Clearly, software could more easily automate the matching process of companies to their prospective claims. And that’s where Chris’s experience from building scaled systems at little places like YouTube and Apple comes in.
WHY: A belief that American companies, with the capital and cash flow government intended to provide, can add jobs, grow new business lines and increase competitiveness, here and globally.
We led Subcity’s $3m seed round, and very much enjoy working with this mission-driven team. If the intersection of fintech + small business interests you, the company is hiring for remote positions across the US.