State awards entrepreneurial grants
RICHMOND, Va. — Twelve projects in the Commonwealth have received $226,000 in Building Entrepreneurial Economies awards. The BEE program provides funding to nonprofits and local governments to assist with the development of local and regional entrepreneurial economies that foster job creation and expansion by micro and small businesses.
“Creating a place for entrepreneurs to start and grow a business is a major component of creating a new Virginia economy,” said Gov. Terry McAuliffe. “Through this program, we are funding key projects that are building and expanding strong entrepreneurial ecosystems all across the Commonwealth and creating the environment our small businesses need to succeed.”
BEE offers three types of grants including innovation, implementation and planning. The innovation grants award up to $45,000 for projects that develop and test an innovative approach to service delivery and micro-business financing not currently used in Virginia. The implementation grants are awards of up to $25,000 for the projects that expand geographic coverage for micro-business support services or implement innovative ideas that have already been funded and field tested through the BEE innovation grant. Planning grant award up to $7,500 to research, develop and plan for a potential project.
“In addition to creating the right atmosphere for small and micro-businesses to thrive, these grants will provide the tools and techniques that support place-based entrepreneurship,” said Secretary of Commerce and Trade Maurice Jones. “These businesses are so important for the economic health of our communities.”
Go here for a complete list of projects awarded funding through the 2015 Building Entrepreneurial Economies program.