StartVirginia: October 2023 Heard Around Virginia

Aravenda, a Fairfax e-commerce software company targeting consignment shops and resellers, landed a spot in the latest women founders cohort of the Google for Startups Accelerator. Aravenda’s software helps consignment and resale shops track inventory and manage payouts to people who sell there. Customers can use the software to build websites and manage inventory across several locations. The company has eight employees and is looking to boost its corporate and enterprise businesses by allowing companies to resell electronics and office supplies they no longer use. Aravenda is currently raising a $3 million seed round that it hopes to close this year. (DC Inno)

George Mason University is launching a training program for aspiring entrepreneurs from refugee and immigrant backgrounds. The Refugee and Immigrant Success through Entrepreneurship, or RISE, is helped by a $1.5 million donation from Sumeet Shrivastava, the former president and CEO of Fairfax-based government technology services firm Array Information Technology. The 11-month program will include six weeks of entrepreneurship training, 12 weeks of mentoring and then 13 weeks of consulting classes with business students at George Mason to help the participants hone plans. Mason’s Center for Innovation and Entrepreneurship is seeking philanthropic partners and grants to support future cohorts. (DC Inno)

Roanoke-based Regional Accelerator and Mentoring Program (RAMP) has named five companies for its fall cohort: Fairfax-based Oak Bioinformatics, which develops genetics analysis software; Performance Medical Technologies, a clinical data science and product development company from Charlottesville; Roanoke’s LymphaVibe, which provides wearable solutions for at-home patients with lymphedema; Dublin’s Good Food Groups, which aims to make foods that contain an acid that helps people maintain weight, build muscle and lose fat; and Pulaski-based MacroVation, which designs sustainable biomaterials. During the 12-week program, participants receive $20,000 in nonequity funding, mentoring and free office space. A “Demo Day” is set for Dec. 6. (News release)

The Shenandoah Valley Entrepreneurship Summit, organized by the Shenandoah Community Capital Fund, is scheduled for Oct. 23 and 24 at Liberty Street Mercantile in Harrisonburg. Sessions for entrepreneurs include topics such as finding the right co-founder, digital marketing and accessing the right type of capital. Tickets are on sale through Oct. 7 at sccfva.org and are $155 for general admission and $80 for students. Additionally, SCCF has announced its new Capacitor Incubator Program. Participation is free. Applications opened in September and will be accepted on a rolling basis. CIP expects to accept 24 entrepreneurs to the incubator during the next two years. (News release, VirginiaBusiness.com)

Unstuck Labs, a tech accelerator and mobile app developer that works with early-stage startups, founders and innovation programs, has opened its first permanent home in Rosslyn City Center in Arlington. The company, which offers a 12-week startup program, previously operated out of coworking spaces and moved into its new, 4,000-square-foot space during the summer. It also offers a weekly workshop, Unstuck Tuesdays, for curious entrepreneurs. Visit meetup.com/unstucklabs to sign up. (News release)

Richmond moving startup WayForth has filed for Chapter 11 bankruptcy protection. WayForth focuses on moving services for seniors. As part of its restructuring, WayForth’s offices in eight states and Virginia were to close Aug. 18. The company’s bankruptcy filing estimates it has between 100 and 199 creditors and between $1 million and $10 million in liabilities. Its assets are also within the range of $1 million to $10 million. Founded in 2016, the company raised a $32 million capital round just two years ago. WayForth filed a notice with the Virginia Employment Commission Aug. 11 indicating it planned to lay off 78 employees. (Richmond Inno, VirginiaBusiness.com)