REED is seeking participants for the winter-spring group of organizations to participate in the program and has secured seed funding to underwrite activities.
The REED Capacity Building Program – Business Opportunity Development helps entrepreneurship support organizations looking to enhance their capabilities to nurture business startups and grow local ecosystems by providing proven processes, materials, training, and mentorship around lean startup methodologies.
The program includes:
- Working with the organization to identify and qualify an initial cohort of 4 to 6 companies
- Working with the organization and the companies to create a business proposition of value to the market, create a valid business model for the opportunity, and develop the planning required to fund and execute the new business.
- Providing the organization with access to the resources of Old Dominion University’s Institute for Innovation & Entrepreneurship, and participation in a growing network of similar organizations dedicated to entrepreneurship and economic growth.
NEW COLLEGE INSTITUTE AND OLD DOMINION UNIVERSITY INSTITUTE FOR INNOVATION & ENTREPRENEURSHIP JOIN FORCES TO HELP RURAL VIRGINIA BUSINESSES
New College Institute (NCI) and Old Dominion University’s Institute for Innovation & Entrepreneurship (ODU-IIE) announce the launch of a Business Opportunity Development program to help rural Department of Defense contractors and sub-contractors commercialize innovative products and services.
This collaboration is part of the Regional Entrepreneurial Ecosystem Development (REED) program and is supported by the DoD Office of Economic Adjustment to help DoD contractors and sub-contractors overcome the ups and downs of federal spending through the creation of commercial lines of revenue.
The original program was developed and successfully implemented by ODU-IIE TempO in Southeast Virginia. Over the past four years, it has helped Hampton Roads businesses achieve over $3 million in new annual revenue and raise over $5 million in investment capital. REED is the virtual rural version of this phenomenally successful TempO program.
REED will be conducted totally online and is currently provided at no cost to qualified rural Virginia businesses. NCI will be hosting an online Zoom REED overview with FAQ session July 16, 2020 from 11 AM – 12 PM
Interested in finding out more about this promising opportunity, please contact:
For information contact: