ALEXANDRIA – Virginia Gov. Terry McAuliffe and U.S. Sen. Mark Warner today announced the launch of the Virginia is for Entrepreneurs (VA4E) initiative, an effort to better match entrepreneurs with potential investors across regions, backgrounds and industries. VA4E’s first initiative will feature a standardized online application to better link entrepreneurs with more than 50 equity firms and potential funders to help launch or grow their Virginia-based businesses. 

 Partners in the network include universities ranging from Virginia Tech to the University of Virginia’s College at Wise, angel investment groups such as 757 Angels and Shenandoah Valley Angel Investors, venture funds including Revolution and Village Capital, and statewide organizations including the Center for Innovative Technology.

“The Commonwealth has long been home to innovators and entrepreneurs who make up the backbone of our new Virginia economy,” said Governor McAuliffe. “That’s why it’s so important that we continue to expand our support for promising new ventures. The Virginia is for Entrepreneurs initiative will open new doors for local start-ups by increasing access to the capital they need to thrive and create good-paying jobs.”

“While Virginia boasts a number of innovative communities and ecosystems across the Commonwealth, a consistent problem has been connecting promising entrepreneurs with capital available to support their vision,” Sen. Warner said. “As part of a broader effort to strengthen the connective tissue between Virginia’s startup communities, this tool will help founders evaluate their product fit and maturity, and connect them with venture and angel investors across the Commonwealth.”  

“Whether you're an agriculture entrepreneur in Abingdon or a cyber-security entrepreneur in Arlington, if you've got a great idea and work hard, you should be able to succeed," said Ross Baird, the founder of venture firm Village Capital and one of the organizers of the VA4E initiative. “Today, too often the best ideas don't even get the opportunity to start because of who they are or where they come from. Virginia is for Entrepreneurs is testing ideas statewide to fix that.” 

The pilot initiative announced today, the online application, was successfully tested by more than 200 entrepreneurs and investors statewide at the TomTom Festival in Charlottesville and by the Roanoke-Blacksburg Technology Council.  

The initiative will help build strategic sectors in Virginia. For example, one of the initial areas of focus for the investment portfolio will be a state-led pilot program to promote the growth of early stage unmanned aerial systems companies, which has been identified as a cornerstone industry for Virginia’s 21^st Century economy.

For more information, please contact Ross Baird, ross@vilcap.com; Paul Hirschbiel, phirschbiel@edencapital.net; or visit va4e.org. 

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