Vinton – 137 local entrepreneurs and innovators are participating in the Gauntlet Business Program and Competition, now in its 11th year. This program offers an opportunity for local entrepreneurs and business owners, or those who want to start their own business, successfully launch or expand.
Since its start in late January, participants have participated in 3 cross regional networking events in Danville, Alleghnay, and Buena Vista. Last weeks event was held at the Virginia Innovation Accelerator, an innovation project also powered by The Advancement Foundation. Over 60 community leaders, entrepreneurs and innovators were joined by the Secretary of Agriculture, Matt Lohr and a special video message from Senator Warner.
Gauntlet is Virginia’s Largest Business Program and Competition and offers a proven formula to develop business knowledge, by pairing entrepreneurs with mentors, and opening up numerous resources for new and expanding businesses. Gauntlet’s 10-week business program is designed to teach local entrepreneurs how to develop a business plan. At the end of the course, participants can submit their business plans for a chance to win cash and in-kind prizes to help get their business started.
Becky Freemal, a board member of the Advancement Foundation, highlights the broader impact of the program. “The other important aspect about this is the economic development,” Freemal said. “This isn’t just about that direct involvement of a mentor or a participant or someone who donates. The communities in which we’re serving are seeing the optimization and the growth of their economies because when a business succeeds, the entire community succeeds.”
Gauntlet is a cross-regional network of innovators, entrepreneurs, community business leaders and industry experts that leverage all the assets of the entrepreneurial ecosystem across the state with a focus on Roanoke, Shenandoah, New River Valleys, Alleghany, Southside and far Southwest Virginia. The Gauntlet ecosystem is powered by The Advancement Foundation, a 501C3 that has supported more than 1,100 entrepreneurs, with resources exceeding $8 million for the communities served. The program is currently seeking community partners to join their network or to donate in-kind prizes or services.
“That’s the beautiful thing about the Gantlet. It’s not just about the people who have this great idea and how do I turn it into reality. Everybody can have a role in it in some form or fashion. So you can donate cash, you can donate in-kind prizes. Maybe you have a marketing business on the side and you could help others with your skills who may need it in that area. So you may not realize you have something that you can donate to help get a business up and running,” Freemal said.
For more information, interested entrepreneurs, mentors, sponsors, and community leaders can visit here.