CHARLOTTESVILLE, Va. (CBS19 NEWS) -- A new program in Charlottesville aims to advance commercialization efforts and grow local startups.
The city's Office of Economic Development and the Economic Development Authority have created the Cville Match program that will provide matching funds to recipients of Small Business Innovation Research, Small Business Technology Transfer, and Commonwealth Research an Commercialization Fund grants.
"Bringing in matching federal and state cash for growing local businesses is totally on mission for the CEDA and OED," said CEDA Chair Tara Boyd. "It's a great use of the funds that CEDA's bond activity generates for the city."
"The match will provide a meaningful contribution to many of the companies who will benefit from the program," said Nikki Hastings, the executive director of CvilleBioHub. "The program can support and further incentivize the CvilleBioHub network to apply for grants and grow deeper roots in the broader community."
The city says qualifying city-based companies are eligible to get a local match once federal/state funds have been approved.
Depending on the availability of funds, match amounts of up to $25,000 per-company, per-grant can be received.
The Cville Match program incorporates the Virginia Jobs Investment Program's match, a long-standing program that provides matching funds to city-based recipients.
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