Startup Virginia is excited to offer another cohort of the Idea Factory, a 7-week hybrid program where aspiring entrepreneurs learn how to test, improve, and validate their business idea and get ready to create a product experiment, often called a “minimum viable product” (MVP). The application deadline is February 1st for the Spring session, which begins on March 7. You’ll find the program details below with more information on our website: startupvirginia.
The Objective
The Idea Factory exists to (1) lead aspiring founders through the process of testing, refining, and validating their ideas, (2) provide accessible resources and education for those considering entrepreneurship., and (3) enhance our region’s entrepreneurial ecosystem and economy by building a more diverse and equitable founder community.
Who’s it for?
Anyone in Virginia with a technology-driven or manufacturing-based business idea is welcome to apply. The Idea Factory will provide the training, resources, and support to test your idea and help you decide whether you are ready to take the next steps toward becoming an entrepreneur.
What is the time commitment?
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10 hours per week for seven weeks
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Participation in 2 in-person and 4 virtual workshops on Tuesday evenings
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Check in weekly with a mentor or facilitator
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Willingness to talk about your idea with others, including interviewing strangers
What is the investment?
It’s free! The $500 program fee has been waived thanks to a grant awarded by GO Virginia and scholarships granted by the City of Richmond, Henrico County, and Chesterfield County. Those who successfully complete the program, validate their idea, and plan to commit a substantial amount of time to pursue a new business will be considered for additional support and free resources to help them keep going.
It’s free! The $500 program fee has been waived thanks to a grant awarded by GO Virginia and scholarships granted by the City of Richmond, Henrico County, and Chesterfield County. Those who successfully complete the program, validate their idea, and plan to commit a substantial amount of time to pursue a new business will be considered for additional support and free resources to help them keep going.
Am I ready?
All you need is an idea and a willingness to explore starting something new to apply to the Idea Factory. You don’t need business experience, specific training or educational background, or to quit your day job. So yes, you’re ready!
