News

VIPC Regional Innovation Fund Grant Awarded to CvilleBioHub to Strengthen the Entrepreneurial Ecosystem in Region

CvilleBioHub, an industry-led 501c3 nonprofit organization dedicated to accelerating Charlottesville’s biotechnology industry sector, today announced that it has again received a $200,000 Regional Innovation Fund (RIF) grant from the Virginia Innovation Partnership Corporation. RIF is state-funded program that provides competitive grants to leading Virginia-based entrepreneur support organizations. CvilleBioHub sits at the center of a thriving biotechnology ecosystem in the Charlottesville region with many partners across industry, academia and economic development.

“We are pleased to provide a Regional Innovation Fund grant to CvilleBioHub to support its efforts to strengthen Central Virginia’s biotechnology industry through engagement, resourcing, and education,” said Conaway Haskins, Vice President for Entrepreneurial Ecosystems at the Virginia Innovation Partnership Corporation. “The organization aims to double the size of the industry in its geographic footprint by 2030 by creating value and reducing barriers for companies to thrive and grow within the region. Over the past five years, CvilleBioHub has emerged as a linchpin to growing the region’s biotech and life sciences sector and it is serving as a model for other regional biotech hub efforts across Virginia.”

The Regional Innovation Fund grant will support CvilleBioHub activities across five areas in 2023:
Host Monthly Speaker Series to bring high profile industry leaders to Charlottesville
Plan for growth and launch of a wet lab incubator/accelerator in Charlottesville
Expand and deepen technical assistance and advisory services provided to companies through the Entrepreneur-in-Residence program
Build the biotech talent pipeline and workforce
Build out institutional capacity to improve communications and sustainability capabilities

“ We are honored to receive another RIF grant to continue to build and grow the entrepreneurial ecosystem for early-stage life sciences and biotechnology companies in the Charlottesville region,” said Nikki Hastings, PhD, executive director of CvilleBioHub. “As we move into our seventh year, our community now includes over 75 companies and 2,500 employees. VIPC has been an important partner for us and the RIF grant will bolster our thriving community of innovators so that we can ensure high-quality resources and connections to help more entrepreneurs start and growth their companies here.”

Regional Innovation Fund (RIF) is a state-funded program administered by the Virginia Innovation Partnership Corporation that provides competitive grants to leading Virginia-based entrepreneurial support organizations (ESOs). RIF grants provide operational and program funding for successful ESOs and ecosystem building initiatives. It is managed by VIPC’s Entrepreneurial Ecosystems Division.

 

Learn more here.

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