RICHMOND—On December 9, 2025, the GO Virginia State Board approved the following Region 2 project aimed at growing the regional economy. Region 2 consists of the cities of Covington, Lynchburg, Radford, Roanoke, and Salem and the counties of Alleghany, Amherst, Appomattox, Bedford, Botetourt, Campbell, Craig, Floyd, Franklin, Giles, Montgomery, Pulaski, and Roanoke.

Regional Initiative for Startups and Entrepreneurship (RISE)

Through Project RISE, Virginia Tech’s Corporate Research Center will expand the offerings of the Entrepreneur Resource Center (ERC) by supporting existing businesses, cultivating new startups, increasing job creation, and boosting patent activity for university-based ventures in the Roanoke and New River Valley, complementing ongoing regional investments.

Project RISE will deploy technical commercialization assistance to move promising technologies to market; establish an entrepreneurial mentorship and development hub activated through regular programming within the ERC; and provide access to on-call experts and AI, digital, and cloud-based tools to support entrepreneurs.

“With a host of government and educational partners, Project RISE represents a coordinated, high-impact investment in the future of Region 2’s innovation economy. By serving as a magnet for talent, providing a home base for aspiring entrepreneurs through dedicated space, addressing critical gaps in the region’s ecosystem, and activating powerful innovation assets, Project RISE will support the nation’s next great companies and generate long-term economic resilience across southwestern Virginia and beyond,” said Brandy Salmon, vice president for innovation and partnerships at Virginia Tech.

"This grant will allow ERC to provide resources, experience, and critical knowledge transfer for entrepreneurs to bring new ideas to market, which will be particularly helpful for business owners who are just starting out," said Paul Denham, chair of the GO Virginia Region 2 council.

The GO Virginia board approved a total of $648,000 in state funds for the project, which is leveraging $2,933,555 in non-state sources.

Contact
John Provo
540-357-2949
jprovo@vt.edu