Grant will jumpstart new development for startups, including On RAMP, Exit RAMP, and the Ecosystem Navigator Program.
The integration of both GO Virginia funding and a U.S. Economic Development Administration (EDA) Economic Adjustment Assistance grant will be instrumental in advancing Verge’s outreach efforts to regional technology and biotech companies, through its Regional Accelerator and Mentoring Program (RAMP) focusing on early-stage technology-based economic development. RAMP will invest additional attention and resources for historically underserved communities across Southwest Virginia. This initiative supports rural, minority, and immigrant populations in accessing resources for technology and biotechnology startup ventures.
With the combined funding support of the EDA and GO Virginia, Verge is enhancing its flagship program, RAMP by launching 'On RAMP,' designed to assist early-stage startups, as well as ‘Exit RAMP’ to assist with later stage business needs like capital readiness. These initiatives provide tailored programming, connections, mentoring, coaching, and engagement opportunities specifically targeting underserved areas such as the City of Roanoke, Roanoke County, Giles County, City of Radford, Botetourt County, Montgomery County, City of Salem, Pulaski County and Floyd County.
Additionally, Verge will introduce an Ecosystem Navigator Program to facilitate entrepreneurs’ access to regional and statewide support organizations, while forming a task force to aid early-stage technology and biotechnology firms. The strategy and goals behind the expansion of these programs is not only to improve the success and growth rates of technology-based startups, but to increase the rate and speed in which an idea is brought to market.
The federal project's success owes much to leveraging GO Virginia funding, which drives progress in emerging sectors such as life sciences and biotechnology. GO Virginia’s strategic financial support has proven crucial in making these initiatives competitive and impactful, empowering projects to achieve significant milestones and contribute meaningfully to their sectors. By extending project lifecycles with state funds, GOVA not only catalyzes new developments but also ensures their sustainability through federal funding.
"The collaborative efforts facilitated by GO Virginia underscore its essential role in advancing critical projects and fostering innovation," said Erin Burcham, President of Verge. "GO Virginia’s support, combined with the EDA grant, will allow us to expand the scope and impact of our programs," Burcham said.
This strategic combination of state and federal resources highlights the EDA and GO Virginia’s pivotal role in supporting ventures that deliver lasting benefits to communities.
“The addition of On and Exit RAMP enables our region to provide a full lifecycle runway of guidance and support for tech and life science ventures, no longer will companies need to go elsewhere to access the critical resources and mentorship required to start a high growth venture,” said John Hagy, Director of RAMP.
ABOUT VERGE
Verge is at the foundation of the Roanoke Blacksburg innovation alliance, supporting tech-based economic development in the technology and life sciences sectors, while supporting professional communities. The Regional Accelerator & Mentoring Program (RAMP) and the Roanoke Blacksburg Technology Council (RBTC) are part of the alliance. RAMP offers the core entrepreneurial programs for startups at any stage, access to assets, like office space and software, and connection to a vast network of mentors, companies, and investors. Established in 1998, RBTC is a member-driven association working to promote the growth of the Roanoke-Blacksburg technology community. The organization serves as a business resource for technology entrepreneurs and companies seeking greater success.