Virginia invests in entrepreneurs and startups

Governor Glenn Youngkin announced a new initiative led by the Virginia Innovation Partnership Corporation yesterday.

Virginia Invests will expand growth opportunities for Virginia-based, innovation driven startups and entrepreneurial ecosystems throughout the Commonwealth.

The program uses previously awarded federal funding to launch new investment partnerships with the goal of catalyzing and attracting $250 million of investment into more than 100 high-growth startups over the next 3-5 years.

This statewide initiative will accelerate capital into Virginia startups growing opportunities for entrepreneurs, especially female, black, Hispanic, veteran, and rural-based entrepreneurs.

Some of the key industries selected as investment focus areas include National Security/Defense, AI, Logistics, and Automation among others.

Virginia Invests will re-invest into local communities beyond financial capital as well through planned engagement activities like pitch competitions, entrepreneur roundtables, internships, and networking events.

To view the Governor’s full announcement, click here.

For more news from across the Shenandoah Valley, click here.

SCCF Executive Director Debbie Irwin resigns

The Shenandoah Community Capital Fund announced the resignation of Executive Director Debbie Irwin.

She is leaving the role to begin a new job in early March.

Irwin served an integral role in SCCF since joining the organization in October 2017.

During her tenure, she spearheaded impactful projects to support local businesses, entrepreneurs, and community development efforts.

Through her commitment to the SCCF and community, she helped to drive more than $4 million in state and federal funds to the region to create numerous partnerships that continue to drive entrepreneurial progress in the Shenandoah Valley.

Irwin said, “It has been an immense pleasure to serve as Executive Director…I’m extremely confident that the SCCF team will continue to drive the organization forward. Their big thinking, passion for entrepreneurship, and dedication to the Shenandoah Valley will keep SCCF thriving.”

The Capital Fund’s Board of Directors will begin a search for a new Executive Director.

Ryan Hall, Director of Growth and Revenue, will assume the responsibilities until a selection is made.

The Shenandoah Community Capital Fund is a non-profit organization that envisions a Shenandoah Valley where every person has access to the resources, knowledge, and support needed to start, grow, and sustain a business.

For more news from across the Shenandoah Valley, click here.

SU breaks ground on The HIVE

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On Veterans Day, roughly 200 people celebrated the groundbreaking for Shenandoah University’s new Hub for Innovators, Veterans, and Entrepreneurs which will be known as The HIVE.

The former National Guard armory will feature innovative technologies such as 3D printers and laser cutters while also providing a workspace for students and community members to explore these and other revolutionary advancements.

The building will also expand services through the Veterans, Military and Families Center to provide support and resources in high demand fields like cybersecurity and data analytics.

Laurel Ridge, local public schools, and other organizations will partner with The HIVE to help expand their services throughout the community.

The 3rd phase will be finished by August of 2024 with the completion of the fourth and final phase contingent on funding.

For more news from across the Shenandoah Valley, click here.