2014 Session

Budget Amendments - SB30 (Member Request)

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Chief Patron: Watkins
VCU - Fund Accelerator Programs

Item 206 #1s

Item 206 #1s

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

Page 176, line 24, strike "$273,421,441" and insert "$273,671,441".
Page 176, line 24, strike "$273,421,441" and insert "$273,671,441".
Page 176, after line 43, insert:
"F.  Out of this appropriation, $250,000 the first year and $250,000 the second year from the general fund are 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 startups with growth potential and that align with regional economic development strategies.  The University shall consult with the Richmond Technology Council in the design of the program."

(This amendment would provide $250,000 GF in each year to support accelerator programs at Virginia Commonwealth University (VCU).)