Beyond daylight savings wreaking havoc on everyone's sleep cycle, last week also brought the biggest bank crash since 2008. Fortunately, tech leaders joined forces to lobby the U.S. government to step in. The FDIC $250,000 insurance cap has been in place for 13 years - since the increase from $100,000 in 2008. While this is not the focus of this short article, it is my personal hope that daylight savings and the current FDIC cap will move to the rear view mirror for the sake of our personal and small business health.
Our tech companies are valuable to all of us, advancing systems that improve our lives. We've long advised tech clients (for their personal due diligence and to speed the investment cycle) to be prepared for investment with vetted legal documents and deal structures that makes sense based on acceptable valuation and deal-term standards typical for east coast investors. With the crash of SVB it may be, for the sake of entrepreneurs and investors, that this conservative approach will become more formulaic and standardized across the country.
For more than a decade, our local accredited investor groups, like Charlottesville Angel Network (CAN) and CAV Angels, have demonstrated a conservative approach; rejecting outrageous valuations and, for example, the original form of SAFEs (Simple Agreements for Future Equity). While one may happen upon the occasional rogue angel that will do an un-vetted deal with an unwarranted valuation, today's accredited angels are experienced, educated, and access data regarding valuation and legal standards.
All of this is to say that those seeking investment (of venture, grant or traditional bank capital) are best positioned for success when providing a researched, vetted investment offer that makes sense to the investor. If you are exploring investment and wish to learn more, you may join us this week for a program we are conducting with UVA Credit Union and Community Investment Collaborative called 'Show Me the Money' or contact our office to make an appointment with a business advisor.
~ Rebecca, Haydock, CV SBDC Director
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CIC / CV SBDC are Hiring! |
The CIC / CV SBDC team is hiring for multiple positions! Learn more about each job on the CIC website.
- Rural Ecosystem Builder
- Workshop & Outreach Coordinator
- Director of Human Resources
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For the first time since the pandemic up-ended all things small business, CV SBDC has compiled a full annual report. We are excited to share the successes of the Central Virginia small business community and hope this report is informative and that you enjoy seeing the impact of your local SBDC team in the community. Learn about how CV SBDC has impacted the community, who we are, and how we track what we do. |
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Virginia SBDC has released the 2022 Client Success Stories! Pay special attention to the two Central Virginia stories, Inspired By The Dress and Liquet to see what some local businesses accomplished last year. The small business community across the state accomplished countless victories and the SBDC network is proud to highlight a small sample of these stories.
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Do you have an innovative technology solution? |
America's Seed Fund help startups navigate the earliest stages of technology translation, investing roughly $200 million annually in approximately 400 startups. Each startup can receive up to $2 million to support translational research and development. From advanced manufacturing to artificial intelligence to biological technologies to environmental technologies, America's Seed Fund funds nearly all areas of technology. |
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What types of startups have been historically good candidates for the Google for Startups US Black Founders Fund and Latino Founders Fund?
Startups are eligible if they are based in the US, have raised less than $5M at the time of application, have a full-time founder/cofounder who identifies as Black or Hispanic/Latino (30% or more of the business must be minority-owned at the time of application), are post-revenue, and demonstrate traction (sales, monthly active users, beta sign-ups, revenue).
Application deadline: March 26
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Value Added Producer Grants in Virginia |
The Value-Added Producer Grant (VAPG) program helps agricultural producers enter value-added activities to generate new products, create and expand marketing opportunities, and increase producer income.
Grant and matching funds can be used for planning activities or for working capital expenses related to producing and marketing a value-added agricultural product. Examples of planning activities include conducting feasibility studies and developing business plans for processing and marketing the proposed value-added product.
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Culpeper County Conference (C3)
Business Breakouts
C3 is designed to help local businesses grow, market themselves effectively and operate more efficiently.
This half-day conference will be held at Germanna Community College, Daniel Technology Center on Wednesday, April 26, 2023 from 8:30am – 1:30pm, and is free for all to attend.
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Reach out for virtual or in person meetings in our Charlottesville & Culpeper offices. |
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March 23 | 8:00 - 9:30am
In-person at 300 Preston Ave, 2nd floor, free parking on-site (light refreshments provided) or Online via Zoom
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Business Essentials Training (BET) |
Prepare for launch with confidence OR conduct a “Business Health Check” as a foundation for expansion or growth.
Weekly through April 26
Wednesday afternoons, 3:00 - 5:00pm
In-person at 300 Preston Ave, 2nd floor or online via Zoom.
Come learn with fellow entrepreneurs! Good company & parking are free!
Want to earn the Business Essentials Training Certificate?
More information can be found here.
$10 fee. Scholarships available.
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Thinking about starting a business?
Started, but could use some advice? This workshop is for you!
Learn the steps for a successful start, registrations and regulations, the components of sound business planning and meet other founders!
Apr 11 | 1:00 - 3:00pm
$10 fee. Scholarships available.
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Upcoming Webinars from the Virginia SBDC Network |
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March 23 | 11 AM EST
March 23 | 1 PM EST
March 29 | 9 AM EST
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March 29 | 10 AM EST
March 30 | 5 PM EST
April 1 | 12 PM EST
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LAST CALL! Apply to PITCH at Tom Tom by 3/24! |
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What can you gain in 3 minutes?! According to the Tom Tom Festiva's Annual Crowdfunded Pitch Night, A LOT! On Thursday, April 20, 2023, at 6:30PM, family, friends, and supporters from near and far will rally around ten entrepreneurs and GIVE to their favorite business(es) or idea(s). A $5K max grand prize is also up for grabs! If you're looking to win capital and exposure and think you've got what it takes, send in your information by this Friday, March 24th!
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Happening in the Community |
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CvilleBioHub Presents:
March 28 | 5:30 - 7:30pm
InBio: 700 Harris St, Charlottesville
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Central Virginia SBDC
Your Partners in Business:
Supporting Small Business - from Startups to International Expansion
Serving the City of Charlottesville and the Counties of Albemarle, Culpeper, Fluvanna, Greene, Louisa, Madison, Nelson, Orange, Rappahannock.
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Charlottesville main office phone: 434-295-8198 | Culpeper direct phone: 540-727-0638
Culpeper office: 803 South Main Street, Culpeper, VA 22701
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