IGNITER RESOURCES
The Advancement Foundation and Their Ignitors transform communities by engineering opportunities for entrepreneurial success.
The Advancement Foundation (TAF), a nonprofit founded in 2007 works in concert with economic and community development organizations to execute key strategies that provide infrastructure, support, and resources to create an effective entrepreneurial ecosystem. TAF has researched, tested, and refined specific initiatives that help unify activities for small business development, increase support, and leverage resources to provide measurable impact on small business development for the communities it serves.
Mentor and Industry Expert Network
Whether you are a business ecosystem builder, wanting to grow a mentor network, or an entrepreneur hoping to leverage knowledge to shorten your learning curve, this network of business leaders has committed to help you be successful. The Advancement Foundation’s Mentor Network is over 250 strong and growing. A business mentor can share insights gained over years of trial and error. There is no other single way to impact immediate improvement in your business.
The GAUNTLET, Virginia’s largest Business Program and Competition connects entrepreneurs to resources! Over $300,000 in cash and in- kind awards were given, with additional resources such as low interest loan funds, matching grants, and industry expertise are available to GAUNTLET participants. -- This program is a phenomenal resource for community and economic developer alike.
The Innovation Mill Consulting’s mission is to increase the number of potential high growth companies across the commonwealth. Program participants are led through Research and Development , proof of concept, customer discovery, scalability models, investment potential, capital opportunities, one-on-one industry expert mentors, and use/rental of technical resources/equipment.
The Virginia Innovation Accelerator’s mission is to develop early stage high growth entrepreneur businesses and ignite value added product development by offering commercialization services and a unique acceleration and small scale manufacturing space.
The Hive in Vinton is a co-working space for entrepreneurs and hybrid professionals. The workspace is designed to inspire creativity & productivity while offering a collaborative environment to bounce ideas off other like-minded individuals.
Meet our SponsorS
Our 2024 Lead Sponsor, State Farm,
And our other 2024 sponsors and partners
2024 Media Partner
PLATINUM LEVEL SPONSORS
Meet Our Partners
The Advancement Foundation is a trusted partner of local business leaders, a powerful network of sponsoring resources and over 20 communities. Thanks to our 2023 partnering localities: Alleghany Highlands, Town of Clifton Forge, City of Covington, Bedford County, Town of Bedford, Botetourt County, Town of Buchanan, Town of Fincastle, Town of Troutville, City of Roanoke, Roanoke County, Town of Vinton, Rockbridge County, Buena Vista, Lexington, and Southwest Virginia.
Our 2024 Lead Partner/Sponsor
Incubators / Place Making
What is Place Making? We believe that Place Making is an important part of strengthening communities.
The Advancement Foundation is: powering physical spaces like the Virginia Innovation Accelerator, engaging entrepreneurial networks, developing mixed use properties, and identifying capital resources to help entrepreneurs and innovators advance their business ventures. These Place Making activities will ultimately increase awareness, support and action-oriented strategies aimed at providing comprehensive support for business and community development.
VIDA — Virginia Individual Development Accounts
The Advancement Foundation is a local provider for the Statewide VIDA Program.
This program helps qualified individuals save for a down payment on a home or for capital to start or expand a business. Eligible participants receive training, support, and match funding on their savings. The current match rate is $8 for every $1 the participant saves, up to $4,000 in match.
The Advancement Foundation serves as a VIDA intermediary. VIDA intermediaries determine eligibility and work with enrolled savers to prepare them to achieve their business or homeownership goals. Enrollment in the program will depend on eligibility and availability of funding.
VIDA has often been used in conjunction with other DHCD programs including the Down Payment Assistance (DPA) program and the Neighborhood Stabilization Program (NSP) to help individuals and families achieve their dream of homeownership. VIDA also receives funding from the Virginia Housing Development Authority (VHDA), which offers home buyer lending programs.
The Advancement Foundation is a local provider for the Statewide VIDA Program
If you are interested in purchasing your first home in the state of Virginia please contact VIDA@theadvancementfoundation.org for more information about the VIDA Program.
Low-interest Loans
Rural Loan Fund Program
COMMUNITY BUSINESS LAUNCH (CBL)
Designed to assist communities in taking a systems approach to defining and pursuing an asset-based small business development strategy. The program starts with a community’s unique vision for its future and then uses a local business competition to find and foster the entrepreneurs that connect with that vision. CBL will provide the tools to effectively prepare multiple entrepreneurs to operate successful businesses in a downtown or neighborhood commercial district and allow them to compete for funding to start up their new endeavor.
While only a limited number of entrepreneurs may win the business competitions, CBL gives rise to many budding entrepreneurs that have been prepared, through the CBL initiative, to be successful businesses. In addition, it will help communities begin to develop a coordinated, comprehensive sustainable environment that identifies, launches, and supports community-based entrepreneurs and small businesses at all levels of development.
Community Revolving Loan Fund
The Advancement Foundation provides low-interest loans to qualifying for-profit businesses undertaking certain types of projects designed primarily to create or retain jobs.
AREA OF OPERATION: Economic and Revitalization Program area: PDI Districts 1-6: mainly serving the following townships in Virginia, but not limited to, Vinton, Cave Spring, Hollins, Troutville, Fincastle, Buchanan, and Alleghany. ( New Areas being added)
PURPOSE: To create and retain jobs in PDI Districts 1-6 by stimulating new private investment by offering financing which may be subordinated to conventional bank financing.
TYPE OF FINANCING: Revolving Loan Fund (RLF) for working capital and fixed asset loan.
ELIGIBILITY: The applicant must be a Virginia small business, property owner, or have a current or pending lease, or sales contract for an eligible site in the PDI Districts 1-6. A small business as defined is a business which is at least 51% independently owned and controlled by one or more individuals who are U.S. citizens or legal resident aliens, and together with affiliates, has 50 or fewer employees, or average annual gross receipts of $1 million or less averaged over the previous three years. Loans will not be granted to applicants operating a home based business.
RURAL BUSINESS DEVELOPMENT GRANTS (RBDG)
Ecosystem builders that are interested in receiving assistance and technical training by TAF can benefit from RBDG in order to bring TAF programs, resources, and place making activities to the communities we serve.