WASHINGTON –U.S. Sens. Mark R. Warner and Tim Kaine (both D-VA) applauded today’s announcement by the U.S. Department of Commerce that Virginia Tech will receive almost $500,000 in federal funds to support startup creation, innovation, and help turn technology into jobs across Southwest Virginia. “CatalyzeVT: Expanding the Innovation Ecosystem in the Roanoke-Blacksburg Region of Virginia” was chosen to receive the funding as part of the Economic Development Administration’s (EDA) 2015 Regional Innovation Strategies (RIS) program to advance innovation and capacity-building activities in regions across the country.

“I’m very pleased that Virginia Tech has been selected for this funding to support faculty and student entrepreneurs, encouraging innovation and creating good-paying, 21^st century jobs,” Sen. Warner said. “Today’s award is a testament to how much Tech has already done to build a strong innovation ecosystem in Southwest Virginia. As a major economic hub for the entire region, Virginia Tech is in an ideal position to use this funding to continue to support start-up growth, helping students advance their innovative and entrepreneurial ideas into reality, and boosting the economy in Roanoke and Blacksburg.”  

“This federal funding will help cultivate the entrepreneurial spirit of students and provide assistance that can help startups succeed in the communities of Roanoke and Blacksburg,” Sen. Kaine said. “By investing in the resources at Virginia Tech, the university can play a critical role in fostering the right climate for motivated entrepreneurs, who can create employment opportunities and drive economic innovation.”