2014 Session

Budget Amendments - HB30 (Committee Approved)

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VCU Business Accelerator

Item 204 #1h

Item 204 #1h

First Year - FY2015 Second Year - FY2016
Education: Higher Education
Virginia Commonwealth University FY2015 $250,000 FY2016 $250,000 GF

Page 173, line 39, strike "$526,719,872" and insert "$526,969,872".
Page 173, line 39, strike "$526,734,226" and insert "$526,984,226".
Page 176, after line 10, insert:
"S.  Out of this appropriation, $250,000 each year from the general fund is designated to establish an accelerator program to assist entrepreneurs to grow sustainable start-ups and support regional expansion of existing pre-accelerator programs at the university.  Grant funding may be provided to an intermediary organization or organizations to support entrepreneurial networks through effective business planning, technical assistance, mentoring, and access to capital.  The program shall demonstrate the ability to leverage private sector funding and to support start-ups with growth potential and that align with regional economic development strategies.  The university shall consult with the Richmond Technology Council in design of the program."

(This amendment provides funds for a business accelerator program at Virginia Commonwealth University.)