This EDA investment funds the diversify-connect-fund project, to support the greater charlottesville entrepreneurial ecosystem, improving outcomes for underrepresented investors and startup founders…

This $1.2 million project grant from the Department of Commerce Economic Development Administration's BUILD TO SCALE program will fund the Diversify-Connect-Fund Project to support the entrepreneurial ecosystem in Greater Charlottesville, Virginia. The two-year project aims to improve outcomes for underrepresented startup founders and investors. Key services include an Angel Academy program modeled after an accelerator to provide outreach, recruitment, selection and six-to-eight week training for potential angel investors. The project will also establish a Capital Connections Roundtable of individuals with ties to outside funding networks to develop an investment fund strategy and structure with feedback from local stakeholders and external funders. These efforts are intended to strengthen the technology-based economic development of the region by helping entrepreneurs build and scale technology-driven businesses. The sole sub-awardee is the Greater Charlottesville Area Development Corporation, which will implement the project activities.

This EDA investment funds the diversify-connect-fund project, to support the greater charlottesville entrepreneurial ecosystem, improving outcomes for underrepresented investors and startup founders of this project. The project will coordinate an angel academy program. With parallels to a traditional entrepreneur accelerator program, the angel academy program will consist of outreach and info sessions for potential angel investors, a recruitment and selection process, and a six-to-eight-week training program. In addition, the project will establish a capital connections roundtable. This group will consist of individuals with ties to funding networks outside the region, such as the local fund managers, technology council, and academics. Once implemented, the work with the capital roundtable, newly minted angel investors, and identified project partners will develop a fund strategy and structure with feedback from the ecosystem and external funders.