The roots of a digital economy are beginning to take hold in the shenandoah valley, a region historically seen as fertile only for agriculture and manufacturing with little space for innovation

The Shenandoah Community Capital Fund, Inc. received a $1.5 million Project Grant award from the Department of Commerce Economic Development Administration under the BUILD TO SCALE federal grant program. The three-year award ending in September 2024 will support the REV Initiative to develop a scalable tech startup ecosystem in the Shenandoah Valley region of Virginia.

Key activities to be undertaken by the REV Initiative include engaging the local community to create a regional innovation vision and digital hub. The hub will host events and resources to elevate the region's entrepreneurial ecosystem and create pathways for technology-based business growth. The funding aims to capitalize on existing momentum and address high levels of unfilled digital jobs by harnessing local technical talent and fostering entrepreneur-led economic development strategies in the region.

The region currently has over 3,400 open digital jobs, but with a median income trailing the commonwealth by 24.4%, IT is difficult for employers to retain talent and fill vacancies. This, along with an aging population, illustrates the need to implement entrepreneur-led economic development strategies to harness the tech knowledge that exists within the region. The REV initiative, a venture challenge build grant, will capitalize on existing momentum within the entrepreneurial ecosystem by elevating the region's innovation and creating pathways to scalable tech entrepreneurship. The REV initiative will create this vibrant scalable tech startup ecosystem by: 1. Engaging our local community to create a regional vision and share our region's story 2. Building a digital, interactive hub to host