May 1, 2021
In a year fraught with health concerns, political and social unrest, shuttered venues and job insecurity, it’s imperative to knock down the barriers to entrepreneurial dreams. Highlighting community and regional collaboration, Percolator in Norfolk and Bloom Coworking in Portsmouth will provide subsidized co-working space and wraparound supportive services to 30 startup businesses. Educational and mentorship services provided by Black BRAND, B-Force Accelerator and the Portsmouth Partnership.
With the goal of opening up opportunities to entrepreneurs that have historically faced closed doors and prohibitive costs, the Startup Stability Program will support local and minority job creation by providing safe, stable office space and support services, allowing the vulnerable small business owner population to work towards their education and economic growth while recovering from the impact of the Covid-19 pandemic.
The Startup Stability Program is a multidisciplinary and collaborative approach to providing some tangible solutions to business owners most in need. The hope is that what has proven successful in other markets—giving business owners free tools, structured training, and free rent in an environment that encourages productivity and idea-sharing—empowers the business owners to scale their ideas. Decreasing the disparity for minority owned businesses and highlighting the pool of talent and ideas in Region 5 of Virginia, this program will target several key industries including business services, tourism and recreation, life sciences, and advanced manufacturing.
While we hope that a large percentage of the free rent will be secured by minorities, this GoVa Grant opportunity is available and open to anyone in need. We encourage all entrepreneurs in the targeted industries to apply.
This project was funded in part by GO Virginia, a state-funded initiative administered by the Virginia Department of Housing and Community Development (DHCD) that strengthens and diversifies Virginia’s economy and fosters the creation of higher wage jobs in strategic industries.
GOVA GRANT AWARDS FUNDS TO STARTUP STABILITY PROGRAM PROVIDING IMMEDIATE AND FREE OFFICE SPACE TO QUALIFIED ENTREPRENEURS IN NEED