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VCEDA seed grants sow small business growth
Adam Patterson knew if his fashion design company was going to thrive in his hometown of Big Stone Gap, he needed capital — and a new sewing machine. “Mine was so old, it sewed crooked stitches,” says Patterson, founder of Jones-Hurst Designs. Patterson received a $10,000 grant in September from a Virginia Coalfield Econom[...]
Summit for entrepreneurs planned for Danville
Two South Boston-based economic development organizations will host a summit for entrepreneurs and business leaders Oct. 19 at the Institute for Advanced Learning and Research in Danville. Launched by the SOVA Innovation Hub, a nonprofit working to drive economic transformation with digital skills and entrepreneurship, and RISE [...]
265 Va. companies make 2024 Inc. 5000 list
This year, 265 Virginia companies made the Inc. 5000 list of the nation’s 5,000 fastest-growing privately held companies, released Tuesday by Inc. magazine. Ranking at No. 53 overall, Ashburn IT services firm Blu Omega, a woman-owned small business founded in 2020, was the highest-ranking Virginia company on the list. Blu Omega’s clients include federal agencies […]
VIPC launches $100M fund partnership for Va. startups
The Virginia Innovation Partnership Corp. is partnering with seven venture capital fund managers to invest $100 million in 100 Virginia-based startups. Through the partnership, announced Monday by Gov. Glenn Youngkin and named Virginia Invests, VIPC will commit $40 million to the seven funds using previously awarded funding from[...]
HEARD AROUND VIRGINIA
Alexandria venture capital firm Columbia Capital has indicated in regulatory filings that it has raised $977 million to keep investing in companies in the communications and technology fields. Documents filed with the Securities and Exchange Commission on Dec. 15, 2023, show the investment firm has reached its fundraising goal for two separate funds. The firm […]
Richmond-area mainstay Saxon Shoes moves onto its next step
When Gary Weiner’s parents, Jack and Gloria, opened Saxon Shoes in Richmond in 1953, they mostly carried shoes for children with orthopedic needs. Now, 70 years later, the store has something for everyone and is about 10 times the size of the average shoe store and operates in Henrico County’s Short Pump area. It’s be[...]
EY taps seven Va. biz leaders as mid-Atlantic entrepreneurs of year
Seven Virginia business leaders have been named winners of Ernst & Young LLP’s Mid-Atlantic Entrepreneur of the Year Award for 2023. The winners, named Friday by the Big Four multinational professional services company, include: Aptive Resources | Rachele Cooper, founder and CEO, Alexandria Cuisine Solutions Inc. | Felip[...]
Virginia Business announces 2023 Va. CFO Awards winners
Virginia Business presented its 2023 Virginia CFO Awards Thursday during the magazine’s annual awards banquet honoring chief financial officers from nonprofits and businesses from across the commonwealth. This year’s Virginia CFO Awards banquet — the largest annual gathering of CFOs in Virginia — was held at The Jeff[...]
Shenandoah Valley SBDC names new director
Shenandoah Valley’s Small Business Development Center, based in Harrisonburg, has named Allison Dugan its newest director. Dugan started with the regional SBDC as a part-time program manager in 2014 and became a business adviser in 2015, adding the title of assistant director in 2019. She took on the leadership role May [...]
Hampton Roads Chamber exec retires
In her 33 years with the Hampton Roads Small Business Development Center, Debra Hamilton Farley helped launch 252 businesses that created more than 9,000 jobs. Now, she’s taking a break — Farley retired on April 28. “Debra’s contributions to the small businesses community she has served over her sterling career is in[...]
Convenience products distributor to double size in Salem
Layman Distributing, a woman-owned wholesale distributor of convenience and grocery store products, will invest $6.8 million to expand in Salem, adding 42 jobs, Gov. Glenn Youngkin announced Friday. The company will relocate to a facility at 2157 Aspersion Drive, doubling its current square footage and operational capacity. Founded in 1948, the company is currently located […]
Lighthouse Labs names new managing director
Art Espey will be the new managing director of Richmond-based Lighthouse Labs, beginning April 17, replacing Paul Nolde, who is leaving to lead 757 Collab and 757 Angels in Hampton Roads. Lighthouse Labs, launched in 2012, is an equity-free, early-stage startup accelerator. Espey previously served as vice chair of Lighthouse Lab[...]
