(Danville) — A Danville-based venture development firm is getting some state help.
The Launch Place has been named a Technical Assistance Grant Program provider by the Virginia Small Business Financing Authority. The Launch Place will get up to a million dollars to offer legal, accounting, and financial advisory services to companies preparing for support from state and/or federal small business programs.
“We are excited to offer this critical support to small businesses. This program will have a lasting, positive impact on the entrepreneurial landscape of the Commonwealth,” said VSBFA Executive Director, Joe Shearin.
The Launch Place is working with Woods Rogers and Harris Harvey Neal & Company and will make more announcements on future events and programming.
“Small businesses are a critical component of Southside Virginia’s economy. The Launch Place is honored to be named a VSBFA TA provider,” said Eva Doss, President and CEO of The Launch Place. “This opportunity fuels our steadfast commitment to deliver premier services and resources to our region’s small businesses so they can successfully launch and grow their companies to scale.”
The Launch Place provides capital, mentorship, and support services for promising startups, focusing on medical, health, and green technologies. Based in Danville with a second office in North Carolina’s Research Triangle Park, TLP’s initial investments typically range from $200,000 to $250,000, with potential follow-on investments reaching $750,000.
TLP’s original and biggest funder to date is the Danville Regional Foundation.