Startup Virginia plans program, Henrico expansions

Richmond-based high-growth business incubator Startup Virginia (SVA) has been helping regional founders start and grow their companies since 2016. Now, the nonprofit is expanding in multiple ways to help even more founders.

This growth is enabled by a $1.47 million grant from GO Virginia and a $3.75 million renovation investment from the Henrico Economic Development Authority, along with support from Richmond Economic Development and corporate partners.

SVA will now offer three tracks to guide founders through the growth journey: Ideate, Launch and Grow. These structured pathways within the SVA incubator are designed to give founders the right support at the right time, with coaching, curated resources, milestone planning, workshops and network-building activities.

The organization will also use networking and education to help founders secure capital, including hiring a part-time investment fellow who will help strengthen SVA’s investor database, coordinate outreach and support events. SVA expects to hire a fellow in the first quarter.

“The majority of our startup community are led by first-time founders, and they’re often navigating capital access for the first time,” says Noelle James, managing director of Startup Virginia. “Here’s an opportunity to provide more education and support. The capital options they pursue have to fit the business model and the objectives for the business.”

Based out of the Michael Wassmer Innovation Center in Richmond, Startup Virginia will be expanding with a second location in Henrico County. The new 7,000-square-foot Henrico Innovation Hub, to be located at 4912 Augusta Ave. in the Willow Lawn area, will feature collaborative workspace, private offices and event space.

“It was always a vision of our founders to have more than one location,” says SVA Executive Director Richard Wintsch. “We’re very grateful to Henrico EDA for seeing that vision that having a second location will make such a difference in our region.”

In December 2025, SVA hosted an event at the site to unveil plans and renderings for the Henrico Innovation Hub. Renovations on the office building for the space are expected to be completed in time for incubator programming to begin there by late 2026.

“Taking an older office space and revitalizing that really sets a good example in this region,” says Ebonie Atkins, managing director of the Henrico EDA. “It shows how you can reimagine those spaces and turn them into something really powerful and impactful for the community.”