This resource page will be updated daily with current information and relevant programs to keep up with the changing business environment. Resources are free unless otherwise noted.
TABLE OF CONTENTS
Select a topic below to redirect to that section/page.
STARTUP VIRGINIA PROGRAMS
OPEN TO EVERYONE!
Ransomware & Disaster Recovery: How Data Backups Can Save Your Company
Wednesday, Dec. 2, 11 a.m.-12 p.m. – Ransomware poses a significant risk to ALL organizations. It’s a persistent threat that can potentially enter your company’s network from many different angles, and can quickly knock your entire organization offline. In this workshop, we’ll take a detailed look at how ransomware works, what exactly it does to your computers and files, and the attack vectors most commonly used to spread the problem. After that, we will look at some of the most effective ways to protect your organization by preventing the threat, as well as ways to recover when prevention fails.
OPEN TO EVERYONE!
Collect Data With Intention: A Conversation with Vida Williams
Wednesday, Dec. 9, 11 a.m.-12 p.m. – Collecting data is crucial to understanding consumer habits and needs but companies may not fully understand why or what they’re collecting, which can make the data dangerous. Always at the forefront of data innovation, Vida Williams will lead a conversation and provide guidance on how to gather data effectively and without negative effects. We'll learn: 1) How to assess your business quandaries, 2) How to determine why you’re collecting the data, and 3) Ways to negotiate and collaborate with the data you collect.
Monthly on 3rd Thursday,
Hang out with other EdTech founders/team members to check-in on how things are going with the shift in education right now. Email Sonia to join.
COMMUNITY PROGRAMS + WEBINARS
Lighthouse Labs Spring 2021 Accelerator Program
Applications due January 8, 2021 – Lighthouse Labs is a nationally recognized seed-stage accelerator located in Richmond, Virginia. The accelerator invests $20,000 per startup without taking equity or fees from founders and have invested nearly $1,000,000 in future-focused founders. Their 3-month experience for high-growth startups is designed to help founders develop quickly and expand their market with the help of mentors, industry experts, investors, support services, lean startup education, and office space.
Lighthouse Labs’ 10th cohort will run from March 15 - June 4, 2021. The Spring cohort will be industry agnostic and virtual – all early-stage startups are encouraged to apply!
The Business Case for Investing in Diverse Founders with Collin West (Women in Venture) – Tuesday, Dec. 8, 5:30 p.m. – Collin West is a research specialist exploring the multiple facets of startup diversity, including geography, ethnicity, education, and gender. Join us as we unpack the research and business case behind supporting diverse founders as they build companies that break into venture capital. Register here.
Lighthouse Labs Spring 2021 Info Session – Wednesday, Dec. 9, 12-1 p.m. – Join Lighthouse Labs for an info session on our Spring 2021 startup acceleration program and application process. You'll learn more about what an acceleration program is, what companies are a good fit for acceleration, and how to throw your hat in the ring! Register here.
DEIC Accelerate Virtual Demo Day – Thursday, Dec. 10, 3:30-5 p.m. – Join us virtually as the 2020 DEIC Accelerate cohort will showcase their technologies, recent milestones, and future roadmaps. Sit in and hear from all seven of our companies, and have a chance to connect with them after the exhibition concludes. Register here.
State of Innovation: Future of HealthTech (Richmond Inno) – Tuesday, Dec. 15, 1-2 p.m. – Join us for a discussion on the Future of Health Tech with Richmond experts, executives, startups and stakeholders, exploring the national and local trends impacting the industry, along with the companies and organizations growth the health tech ecosystem regionally. Panel includes: Erin Powell, Executive Director, Lighthouse Labs; Nicky Monk, Director, VCU Ventures; Lennox McNeary, cofounder and COO, ArchiveCore; and Elise Franco, staff reporter, Richmond Inno. Register here.
FOUNDER FIRESIDE CHATS
A Q&A-style conversation where we really get to know a founder within the Startup Virginia community.
PPP Loan Forgiveness Update by EDGe Business Planning (October 2020)
The SBA just issued new guidance and form for PPP loan amounts of less than $50,000. The new one-pager requires certification of seven statements. All of these certifications also appear on the 3508EZ as well. However, the 3508S removes three important certifications:
- The Borrower did not reduce salaries or hourly wages by more than 25 percent for any employee during the Covered Period or Alternative Payroll Covered Period.
- The Borrower did not reduce the number of employees or the average paid hours of employees between January 1, 2020 and the end of the Covered Period.
- The Borrower was unable to operate between February 15, 2020, and the end of the Covered Period at the same level of business activity as before February 15, 2020 due to compliance with requirements established or guidance.
In short, this form removes any reduction of forgiveness if the borrower had to let go of employees and didn’t hire them back and/or reduced wages. That eliminates a very onerous and tedious part of the application process for small borrowers.
The instructions to the form still require borrowers to submit verification of payroll and non-payroll expenses for the covered period. That means for those of you with employees or non-payroll expenses included in your forgiveness calculation, you still need to gather and submit bank statements, tax forms, payment receipts, etc. with the application. You must also keep that documentation for six years after the date the loan is forgiven or repaid in full, in case representatives of the SBA asks for it.
Check with your lender on when and how they will accept the new 3508S form.
While this form does not go as far as pending legislation that would have allowed a simple attestation that the funds were spent, this is a simpler process for the 3.5 million PPP loans that are less than $50,000.
Richmond Recovers Grant Program: The City of Richmond is awarding grant amounts from $10,000 to $15,000 based on the organization’s number of current active full-time employees. Grant funds can be used to reimburse the costs of employee wages, including the cost of benefits; rent and utilities for commercial workspaces; and working capital. Applications will be accepted from September 1-30, 2020. Learn more and apply.
We Care Rebuild RVA Project: An initiative by the Metropolitan Business League to support small, women and minority-owned businesses financially impacted by the COVID-19 pandemic and the social justice demonstrations by providing emergency funding, crisis tools/resources, and small business coaching. In addition, the We Care RVA Rebuild Project will provide clean up, professional services and counseling in the areas of insurance, legal, and architectural design for qualified businesses. Application Period: Monday, September 21, 2020 – Monday, October 5, 2020. Learn more here.
Rebuild VA Grant Fund: Businesses and nonprofits that are approved for a Rebuild VA grant may receive up to 3 times their average monthly eligible expenses up to a maximum of $10,000. Apply here.
Virginia 30 Day Fund: The nonprofit Virginia 30 Day Fund provides forgivable loans for Virginia-based small businesses. Apply here.
City of Richmond Small Business Disaster Loan: The Richmond Economic Development Authority is offering no-interest loans to small businesses within city limits. Apply here.
The Helm's Complete Guide to Emergency Funding: From how to access SBA Disaster Recovery Loans, to grants and relief packages, this guide is a frequently-updated list of everything women-led businesses will need to weather the impacts of Coronavirus.
COVID-19 Relief Efforts for Entrepreneurs and Gig Workers (By StitchCrew Accelerator): The Airtable spreadsheet includes funding/grant/loan resources, online tools, data/research, and more.
Paycheck Protection Program (PPP) is an SBA loan designed to help small businesses keep employees on the payroll and closed on August 8, 2020. These loans are subject to 100% loan forgiveness if certain requirements are met. Visit the SBA website for more details on loan forgiveness. We also highly recommend visiting EDGe Business Planning's blog for up-to-date information on PPP loan forgiveness.
VCU Health Healthy Workplace Guide: Provides up-to-date information about COVID-19 and how to protect your employees and customers to comply with the VA Department of Labor and Industry (DOLI) requirements.
Opening & Operating: Best Practices (Dominion Payroll) – We share practical ways for your business to safely, sanely, and effectively transition your workforce back to the workplace covering: CDC guidelines, HR best practices, scenario planning, and more.
ForwardRVA: A coalition focused on creating an innovative reopening and planning framework. Their website includes a reopening checklist and resources pertaining to reopening protocols and strategies.
Remote Work: Tools & Resources for Startups and Entrepreneurs (Hubspot) – Tips and tricks you can implement today for your startup to thrive remotely.
LinkedIn Learning Courses for Working Remotely: Discover how to be productive and stay connected when working from home or other remote environments.
Keiter CPA’s blog provides information and updates on the latest COVID-19-related business finances and individual tax law changes.
COVID-19 Survival Kit by Sandbox (Liz Doerr, Mike Page & Jill Lemon): Sandbox’s research, best practices, and other insights from working with 30+ local and national startups, including HR policies, expense cutting ideas, non-dilutive financing resources, etc. Download the PDF.
Startup Strategies During Uncertain Times (Amazon Web Services): Former founders on the AWS Startups team shared strategies/tactics for managing unexpected developments, including cash preservation tips, fundraising advice, and internal employee communications. Download the slides.
P&L Spreadsheet for Financial Forecasting: This P&L modeling Excel template was created by founder, Shizu Okusa (JRINK) to help entrepreneurs with financial forecasting.
ARTICLE: How To Keep Your Company Alive – Observe, Orient, Decide and Act by Steve Bank. Here’s a five-day playbook to help CEOs of cash-flow negative startups, or ones about to go negative, assess the new normal and respond with speed and urgency. (Posted April 1, 2020) Read the blog post.
Lighter Capital Guides and eBooks: Written by experts and trusted by entrepreneurs, these guides are designed to help you understand the fundraising process. Examples include, "How to Choose the Best Funding Path for Your Startup," and "Finding the Right Financing For Your Capital Needs." Check them out here.
[Article] How Startup Valuation Works and How a Company Valuation Affects Financing by Lighter Capital. Published February 28, 2019. This article covers how startup valuation works, how you should be thinking about valuation in general and what it means for you now and down the road.
AMA: Start-up Funding Options Available Now (HubSpot): Four start-up financing experts discuss the evolving fundraising landscape, how they are thinking about financing for startups and what you can do to position your company for success in the coming months and year. Watch the recording. Pass: Fw1*+A!G (start at minute 3:55)
Raising Money in a Crisis: Jason Calacanis, tech entrepreneur, angel investor, and podcast host, speaks on raising capital in a crisis. Watch the recording.
Zero to Sold with Arvid Kahl (Makerpad): During this workshop, we cover: Scaling your SaaS business, identifying a problem, finding your first users, and selling your business. Watch the recording.
Fundraising During a Difficult Time (Hubspot): 5 resources startups can use today to secure funding, even in tough economic times.
ICAP & the Future of the Virginia Startup Ecosystem: In this webinar recording, members of the ICAP (Innovation Commercialization Assistance Program) and Virginia SBDC (Small Business Development Center) team discuss the success of ICAP over the past 2.5 years, provide details about the program's future, and offer current partners and an ICAP client the opportunity to discuss their experience with the program. Representatives from CIT also provide an update on the transition to VIPA and the current entrepreneurial landscape in Virginia.
[Article] Top 10 Equity Crowdfunding Sites – 2020: What are the top equity crowdfunding sites of 2020 for both investors and entrepreneurs? We have broken down the best crowdfunding platforms in terms of the number of investors, capital raised, fees, and other key areas. (Published: September 13, 2020)
VIRGINIA ANGEL + INVESTOR GROUPS
757 Angels is a select network of over 100 business and community leaders in the Hampton Roads region, who provide investment capital, strategic advice and mentoring to selected startup and early-stage companies to help them achieve market leadership. 757 Angels seeks dealflow from the Commonwealth of Virginia.
Charlottesville Angel Network (CAN) is a group of nearly 70 accredited investors and family offices. The group is made up of independent investors who make independent investment decisions. CAN is not a fund. Members make no commitment to invest and are not charged a carry or management fee.
CAV Angels is a nonprofit organization housing the only angel group specifically catered towards UVA alumni. CAV Angels’ mission is twofold: first, to provide education on investment in private, early-stage companies to members of the UVA family; second, to facilitate investment by members of the organization in early-stage growth companies founded, owned, or managed by members of the UVA family.
The Center for Innovative Technology (CIT) creates technology-based economic development strategies to accelerate innovation, imagination and the next generation of technology and technology companies. CIT GAP Funds is a family of seed- and early-stage -investment funds placing equity investments in Virginia-based technology, life science, and cleantech companies, with a high potential for achieving rapid growth and generating significant economic return for entrepreneurs, co-investors and the Commonwealth of Virginia.
NRV is a Richmond-based venture capital firm that invests in early-stage growth companies that are post proof-of-concept with demonstrated market traction led by exceptional teams.
Trolley Ventures is an investment fund for early-stage business ventures in central Virginia. The group seeks to provide a better solution for both investors and companies by giving investors a turn-key solution whereby they can diversify across many businesses through a single investment, and early-stage businesses can effectively raise the capital that they need through a single relationship and a streamlined application process.
Virginia Tech Carilion Innovation Fund (VTC Innovation Fund) is a venture capital fund primarily funded by the Virginia Tech Foundation and Carilion Clinic. The Fund is managed by Middleland Capital with the primary goal of commercializing innovative technologies, accelerating growth, and building long term value within the Virginia Tech and Carilion Clinic ecosystem by investing in early-stage life sciences and high growth technology companies. Although the VTC Innovation Fund’s primary focus is in the Central and Southeast Virginia region, it may invest in high growth opportunities across the Commonwealth.
VentureSouth operates angel investment groups and funds comprised of more than 300 accredited investors across the Southeast. The group aims to invest $250,000 to $1,000,000 in companies seeking capital to launch or scale a market-ready product or service.
New VA Workplace Regulations: Is Your Business Compliant? (Dominion Payroll): Virginia adopted the first-in-the-nation workplace safety standards for the COVID-19 pandemic. We provide an overview of these new regulations and to find out what your business needs to do to stay in compliance. Watch the recording.
Dominion Payroll Resource Page: Dominion Payroll has a comprehensive COVID-19 webinar resource page and created helpful Word templates: Sample Work from Home Agreement, a Furlough Letter, a Layoff Letter, and a Recall from Furlough Letter.
Fahrenheit Advisors Insights: Articles to help businesses navigate the changing and challenging times related to hiring.
Covid HR Practices - What You Need to Know (Sandbox): A one-page PDF detailing pertinent HR and employee-related information and resource links.
Troutman Pepper Insights: The blog provides articles related to COVID-19, as well as other posts that can be sorted by industry.
Williams Mullen COVID-19 Resource Center: The COVID-19 resource center includes alerts, recorded webinars and podcasts, an FAQ section, a 'Comeback Plan' for your business, and more.
Woods Rogers COVID-19 Legal Updates: The COVID-19 blog page shares legal updates and links to important resources.
The Remote Sales Playbook (HubSpot): Transitioning from field sales to remote selling isn't an easy task. We've put together a collection of 30+ of our best resources for sales reps and sales managers to help your startups tackle whatever is next.
HubSpot for Startups Education Series: Grow and Scale your Startup in 2020 – A digital workshop series to educate you on ten topics startups ask about the most.
Adapt 2020: An Education Series by Hubspot – A weekly content installment series that will help you shift and build a marketing and sales strategy for today’s unique situation and tomorrow’s new economy.
How to Market & Sell When It's Not 'Business as Usual' (Northern Virginia Technology Council): This webinar presents how to stay engaged with customers and drive growth, the role of sales & marketing in the continuity of business operations, concrete steps your organization can implement today to pivot your customer engagement strategies, and the dos and don’ts of marketing and PR in times of crisis.
Prospecting in the Days of Social Distancing (Sandler Training): This webinar recording focuses on the necessary behaviors, attitudes, and techniques to turn the challenges we are facing today into opportunities for sustainability and growth. Download the slides. Download Sandler Research Center's Market View research.
Marketing Templates by Mortensen Designs: Created by SVA mentor Olivia Mortensen, these professionally-designed small business marketing templates are fully customizable to match your company’s brand. What’s Inside? 3 Social Media Templates, 2 One Pager Templates, 1 Pitch Deck Template.
ARTICLE: The Elements of Value by Harward Business Review. It’s more important than ever to demonstrate that your company, and you as an employee, can provide value to customers. Here are all of the ways you can tangibly provide value. Read the article.
Anti-Racist Resource Guide for the Tech & VC Community: This resource list was compiled by Female Founders Fund for the tech & VC community with the intention of deepening anti-racism knowledge and to share ways we can participate in creating change.
Black Venture Capitalists Confront Silicon Valley’s Quiet Racism: Interviews with Black VCs illuminate the difficulty of making a difference in a tech industry that often refuses to acknowledge the problem; the frustrations of seeking to be recognized for their work irrespective of race; and the internal conflict many face over whether they’re doing enough to create opportunities for others like themselves. Read the Bloomberg article. (Posted: August 24, 2020)
An Open Professional Network For Black Founders: Networks are a key factor in professional success, but Black individuals don't always have access to deep professional networks in the startup and marketing world. Despite 14% of the U.S. population being Black, at the top 75 companies in Silicon Valley, only 3% of employees are Black, and in advertising, less than 7% of employees are Black. Explore this network of professionals committed to creating more access for Black individuals in the startup and marketing space or consider offering up your time.
Company Culture: Fostering Diversity, Equity & Inclusion (Dominion Payroll) – As 2020 exposes long-overdue structural inequities, business leaders are asking themselves how they can push for diversity, equity, and inclusion within their own companies. Learn how your company can leverage business as a force of good and make real social impact.
Antiracism and Inclusion In Tech with Dr. Tiffany Jana (RVATech): In this session, we explore actionable ideas that, when implemented, can help make the tech industry more equitable and inclusive. Dr. Jana shares pointed and direct advice on how you can be a force for positive change.
Social Justice and Leading RVA in Uncertain Times (Metropolitan Business League): A panel of leaders discuss the current state of injustice, how we got to this point, and what actions business leaders should be taking now.
BizSense Assembly recap: Black Entrepreneurship in Richmond – A group of Richmond’s Black entrepreneurs reflected on how racism has created hurdles to the growth of their careers and companies. Read the recap. (Posted: July 23, 2020)
The Definitive Guide to Investing in Black Founders: The meeting is only one piece of the puzzle. Learn how to find more black founders and how to build a relationship that will get you in their round. Read the article. (Posted: June 8, 2020)
The Conversation And The Data: A Look At Funding To Black Founders – “Black founders are often over-mentored and under-invested,” Woodard said during the event. “If you have the ability to write a check, but you will only offer mentorship to black founders, that is only helpful to your ego.” Read the article. (Posted: June 5, 2020)
ChamberRVA COVID-19 Resource Center: Funding and resources for the business community.
Facebook Business Resource Hub: Facebook for Business recently launched a resource page full of information and courses to help you manage through and build resilience during the outbreak.
Envoy Portfolio: Us vs. Coronavirus – Envoy Portfolio, along with their speakers and partner subject matter experts, provide practical tools for leaders. Check out the videos and resources.
ARTICLE: When, Why, & How to Pivot a Startup Business. A look at how Burbn pivoted and turned into Instagram. (Posted: March 25, 2020) Read the Hubspot article.