This initiative is based upon a 2010 presentation by Deb Markley of Center for Rural Entrepreneurship in Chapel Hill, North Carolina to the VA Incubator Association entitled “Energizing an Entrepreneurial Economy.”

National trends and initiatives for business development practices are designed around encouraging and supporting local entrepreneurship.

In March, EDA was awarded a Virginia Innovation Grant in support of its stated “innovative collaborations” and “regional goals.”

In April the EDA hosted a luncheon to introduce the project to the community.  Attendees included representatives from VA Department of Business Assistance, Small Business Development Center, Workforce Services (LFCC), Shenandoah University Byrd School of Business, Workforce Investment Board, Project Lead the Way, SCORE, Warren Entrepreneurial Network Steering Committee, First Bank, Via Satellite, EDA.  The response was overwhelmingly positive.

There are three main components to our initiative for “Creating an Entrepreneurial Community.”

Ø  School Mentoring Program (Project #1)  “Foster Bright Ideas,” “Garden from Within”

Ø  Incubator creation in partnership with local colleges/universities/R&D Centers; Talent sharing, interface between colleges/universities and industry (Project #2) “Nurture to Success”

Ø  Establish a viable model in Warren County; Take the Initiative to the Region: (Project #3) “Innovative Collaboration”

Projected Outcomes:

ü  Create partnership with the school system and entrepreneurial studies + student entrepreneurs

ü  Demonstrate support/mentors for student entrepreneurs

ü  Develop local student internships

ü  Establish partnerships with schools, businesses, student entrepreneurs

ü  Create nurturing environment for “bright ideas” and successful entrepreneurs

ü  Develop business mentoring relationships

ü  Establish partnership with local colleges/universities and entrepreneurial studies

ü  Create business development incubator to support/mentor college-age+ entrepreneurs

ü  Develop business services, food service, small manufacturing, automotive “incubators”

ü  Share talent between schools, colleges, local businesses + industries

ü  Develop and nurture business mentoring relationships

ü  Bring commuters home to work

ü  Chart college-age career interests for business recruitment strategies

ü  Establishment of pro-business environment, commitments to success, investments in community

ü  Demonstrate Investments by: school system, local businesses, service organizations, citizens

ü  Develop Regional Plan of Action

ü  Share Resources Regionally (larger canvass; more opportunities)

ü  Create a healthy, progressive, self-sustaining local economy

Warren Entrepreneurial Network is a committee of the Front Royal-Warren County Economic Development Authority.