NRV News - Innovation Mill powered by The Advancement Foundation is NOW accepting Applications

The Advancement Foundation is seeking applicants for its Innovation Mill program to assist new or early stage businesses with high growth potential.

Simone Knowles, director of innovation and community expansion for the Innovation Mill, said the program can serve businesses in various sectors, from technology to manufacturing to food and beverage.

For the second year in a row, the Innovation Mill received funding from GO Virginia, a statewide economic development initiative with the goal of creating high-wage jobs. It provides support for around 25 businesses, Knowles said.

While The Gauntlet, another Advancement Foundation initiative, is a business development program that helps budding entrepreneurs determine if their idea is viable, Knowles said, the Innovation Mill is geared toward a slightly more established business.

"We’re looking for someone that has some knowledge about where their business is going and how they plan to scale," she said.

These businesses might already have a proof of concept, prototype, marketing plan or even funding, Knowles said. But if any of those pieces are missing, they can expect assistance through the Innovation Mill.

Helping participating businesses rise to the next level often involves applying for grants or accelerator programs like RAMP, she said.

One of the success stories from last year was an entrepreneur with a robotics and drone company. Knowles said the Innovation Mill helped him land a $70,000 grant to build a prototype.

With the COVID-19 pandemic, Knowles said she expects many people who wanted to start or scale their business reined their plans in. But, she said, resources are available and it's a great time to plan and work on the business.

Applications for the program, which runs for about three months, are open now. To apply, entrepreneurs can fill out a needs assessment at https://theadvancementfoundation.org/innovation-mill/.

Original article found here.