RICHMOND, Va. (CBS19 NEWS) -- An initiative that aims to grow the entrepreneurial ecosystem in the area is getting grant funding.

On Friday, Governor Glenn Youngkin announced more than $2.9 million in Growth and Opportunity for Virginia, or GO Virginia, grants for eight projects.

According to a release, these projects aim to foster talent development, economic acceleration, entrepreneurial endeavors and connecting talent with employment opportunities to enhance the vitality of targeted sectors in the Commonwealth.

“These GO Virginia projects exemplify our commitment to fostering economic growth and creating opportunities across various regions,” said Youngkin. “By removing barriers to entrepreneurship, improving industrial sites and increasing the number of Virginia’s shovel-ready sites, we are propelling the growth of targeted industries and clearing pathways for sustainable employment.”

GO Virginia is a program that works to drive regional economic growth and diversification through various means, such as supporting workforce development projects, cluster scaleup, site development strategies and more.

“GO Virginia’s dedication to advancing Virginia’s economy in concert with workforce growth continues to produce innovative solutions and foster regional collaboration,” said Secretary of Commerce and Trade Caren Merrick. “These projects demonstrate our dedication to fostering industry sectors and talent pipelines that are vital to driving sustainable progress across the Commonwealth.”

The release says the projects receiving grants will also leverage another $6.1 million in local and non-state funding.

Under GO Virginia, Region 9 includes Charlottesville and Culpeper as well as the counties of Albemarle, Culpeper, Fauquier, Fluvanna, Louisa, Madison, Nelson and Orange.

Region 9 is getting $300,000 for an initiative involving the Community Investment Collaborative and Venture Central.

This initiative will develop a regional strategy to strengthen and grow the entrepreneurial system in the region by engaging a broad range of stakeholders, creating an inventory of available resources and small business funding sources, and developing actionable strategies to increase the rate of new business formation and improve survival rates for early-stage businesses in urban and rural areas.

Since its founding in 2017, GO Virginia has provided about $109 million in funding for more than 260 projects.

To see the full list of grants awarded on Friday, click here.