�鶹��Ƶ Enterprise Center

Podcast - EP 48: Everything is business

Damian Cristodero — Fri, 28 Apr 2023 18:35:39 +0000

Podcast - EP 48: Everything is business Damian Cristodero Fri, 04/28/2023 - 14:35

Paula Sorrell, �鶹��Ƶ associate vice president for innovation and economic development and School of Business dean, Ajay Vinzé in the studio for this episode of the Access to Excellence podcast with �鶹��Ƶ president, Gregory Washington.
photo credit: Cristian Torres / �鶹��Ƶ

Business is at the heart of everything.

So says Ajay Vinzé, dean of �鶹��Ƶ's School of Business. In a conversation with �鶹��Ƶ President Gregory Washington, Vinzé joined Paula Sorrell, associate vice president for innovation and economic development at �鶹��Ƶ, to celebrate National Small Business Week, and discuss how �鶹��Ƶ Enterprise is an economic engine for Northern Virginia, and how the School of Business is changing the way business is taught.

In this Episode

Gregory Washington

Ajay Vinzé

Topics

Access to Excellence podcast

Podcast Episode

podcast

Costello College of Business

�鶹��Ƶ Enterprise Center

Center for Innovation and Entrepreneurship

entrepreneurship

Small Business Development Center

Costello College of Business News

Strategic Direction

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�鶹��Ƶ expands entrepreneurial and small business support to Herndon

Colleen Rich — Mon, 23 Jan 2023 17:48:32 +0000

�鶹��Ƶ expands entrepreneurial and small business support to Herndon Colleen Rich Mon, 01/23/2023 - 12:48

�鶹��Ƶ is expanding its small business incubator programs to the Town of Herndon, with the aim of empowering more Northern Virginia businesses with high-growth potential.

Photo by Getty Images

The newest �鶹��Ƶ Enterprise Center (MEC) will focus on supporting small, entrepreneurial and emerging businesses while promoting Herndon’s economic growth.

Herndon becomes the fifth Northern Virginia locale to partner with the MEC, joining Fairfax, Arlington, Fauquier, and Springfield. The no-cost and low-cost services brought to small businesses include business advisory services and educational workshops from federal and state programs such as the Virginia Procurement Technical Assistance Center (Virginia PTAC), the state Small Business Development Center (SBDC) Network, and the Innovation Commercialization Assistance Program (ICAP) among others.

“We are thrilled to continue the success of the �鶹��Ƶ Enterprise Centers with this expansion by bringing �鶹��Ƶ assets directly into the Herndon business community,” said Paula Sorrell, �鶹��Ƶ’s associate vice president of innovation and economic development.

In conjunction with partners in Office Evolution and the Town of Herndon, �鶹��Ƶ will continue to grow its services, which include access to health insurance, payroll support, and other critical business services in an effort to boost business growth and overall independence to small businesses in the Town of Herndon.

Others services to be provided by the MEC will include access to �鶹��Ƶ classroom and research projects, and capstone students and interns.

The project enhances Herndon’s reputation as a tech-savvy area, Sorrell said.

"We are delighted to partner with the �鶹��Ƶ Enterprise Center and Office Evolution in creating this space for businesses to grow and prosper,” said Mayor Sheila Olem. “We look forward to welcoming many new enterprises to the town as a result of this collaboration.”

Topics

Campus News

�鶹��Ƶ Enterprise Center

Small Business Development Center

Strategic Direction

Washington Business Journal: "�鶹��Ƶ finally turns 50 — and hits a serious growth spurt"

Kristin Heydt — Tue, 31 May 2022 19:50:18 +0000

Washington Business Journal: "�鶹��Ƶ finally turns 50 — and hits a serious growth spurt" Kristin Heydt Tue, 05/31/2022 - 15:50

"Before �鶹��Ƶ started building new labs for engineering students in Manassas, before it coached and mentored more than 100 new startup companies in Fairfax, before it set up a campus in South Korea’s Songdo, or broke ground on a new space in Arlington to collaborate with the likes of Amazon.com Inc., it was just a single building.

One lone building in 1957. And 17 students enrolled through the University of Virginia.

Eventually, UVa. would procure 150 acres from the not-yet-incorporated town of Fairfax to spin off and plant GMU’s main hub there in 1959. Thirteen years later, the Fairfax university’s status reached the desk of former Virginia Gov. Linwood Holton, who signed legislation April 7, 1972, establishing �鶹��Ƶ as an independent public university.

Topics

�鶹��Ƶ in the Media

Gregory Washington

�鶹��Ƶ Enterprise Center

Economic Development

�鶹��Ƶ Enterprise to expand mentorship support for bio startups across the state, in partnership with Virginia Bio

Colleen Rich — Thu, 12 Aug 2021 15:12:31 +0000

�鶹��Ƶ Enterprise to expand mentorship support for bio startups across the state, in partnership with Virginia Bio Colleen Rich Thu, 08/12/2021 - 11:12

Fairfax, VA—�鶹��Ƶ’s �鶹��Ƶ Enterprise is establishing a new network of life science business mentors to help startups across Virginia launch and scale their ventures. The new team of mentors will support a broad range of life science companies in bringing their innovations, including therapeutics, medical devices, diagnostics and software, to market.

This network will be formed under the Innovation Commercialization Assistance Program (ICAP), a program of the Virginia Small Business Development Center (SBDC) Network. It will be funded through a partnership with Virginia Bio, a statewide trade association representing the commonwealth’s life sciences industry.

Virginia Bio received a $3.2 million GO Virginia grant to create VA Bio-Connect, a hub for the life science community to access commercialization and entrepreneurship programs, funding sources, accelerators, job and internship programs, and research facilities. This multi-regional collaborative effort seeks to advance the growth and competitiveness of Virginia’s biohealth economy.

“Building a thriving life science economy in Virginia absolutely depends on having the right infrastructure for advancing innovations,” said John Newby, chief executive officer at Virginia Bio. “By partnering with �鶹��Ƶ, we are building on a wealth of partnerships across the state as well as unique expertise in supporting entrepreneurs. These mentors are an integral piece of the puzzle as we work to achieve deeper synergies and connections across Virginia’s life science sector.”

The mentors will have broad expertise in launching new tech ventures and will support client startups in strategic planning, investor outreach, product development, navigating regulatory pathways, and fostering customer and research partnerships. They will also bring specialized industry knowledge in areas such as medical device technology, pharmaceutical products, and vaccine development.

“We are thrilled to be partnering with Virginia Bio on this important work,” said Paula Sorrell, associate vice president of innovation and economic development at �鶹��Ƶ. “�鶹��Ƶ has a track record of supporting thousands of successful entrepreneurs across Virginia because of its ability to convene diverse resources and experts. We look forward to building on these wins and contributing to a vibrant life science industry.”

Virginia Bio-Connect addresses a statewide demand for life science-focused mentorship and fills existing commercialization gaps by making it easier for inventors to manufacture and sell products and services such as state-of-the-art medical devices, advanced telehealth options, life-saving cancer treatments, and innovative health care data solutions. The network of hired mentors will serve as a single point of entry for any life science startup in the commonwealth that wants to launch or scale their business.

“This work is really perfectly timed,” said Jody Keenan, state director for the SBDC Network. “We are seeing more innovations centered on human health and well-being, such as vaccines and rapid diagnostic tests that were developed in response to the global health crisis we are experiencing. At the same time, we have been building our capacity to deliver very targeted mentorship to Virginia’s entrepreneurs.”

In the last three years, 15% of the companies that have accessed ICAP programs were in the life science sector. In the aftermath of the COVID-19 pandemic, that number became closer to 25%.

�鶹��Ƶ recently received a GO Virginia grant to expand its network of tech mentors in the SBDC-ICAP program. The life science mentors are expected to work closely with these new tech mentors, and will also leverage partnerships established across the state with accelerators, technology councils, economic development organizations and investors.

“Almost all of today’s startups operate across sectors, and almost all life science ventures have a tech dimension,” said Keenan. “Our goal is to ensure that innovators benefit from a wide range of expertise and go on to build successful and thriving businesses.”

�鶹��Ƶ �鶹��Ƶ

�鶹��Ƶ is Virginia’s largest public university and the country’s fastest growing research university. Located near Washington, D.C., �鶹��Ƶ enrolls 39,000 students from 130 countries and all 50 states. �鶹��Ƶ has grown rapidly over the past half century and is recognized for its innovation and entrepreneurship, remarkable diversity, and commitment to accessibility. Learn more at www.gmu.edu.

�鶹��Ƶ �鶹��Ƶ Enterprise

�鶹��Ƶ Enterprise provides a suite of programs, incubators, and business advisors that support research lab-to-market, tech startup, and small business activities. Launched in 2018, the Innovation Commercialization Assistance Program (ICAP) contributes to building Virginia’s technology competitiveness by helping inventors and entrepreneurs bring new innovations to market. The program is run by �鶹��Ƶ’s Virginia Small Business Development Center (SBDC) Network that provides advising, support and training to small businesses and future entrepreneurs.

�鶹��Ƶ
Media Contact: Angelina Jarrouj, ajarrouj@gmu.edu.

Topics

Press Releases

Press Release

Small Business Development Center

�鶹��Ƶ Enterprise Center

entrepreneurship

Institute for Biohealth Innovation

�鶹��Ƶ tech mentorship program to expand support to early stage tech companies across the commonwealth, with help from GO Virginia grant

Colleen Rich — Mon, 12 Jul 2021 16:45:19 +0000

�鶹��Ƶ tech mentorship program to expand support to early stage tech companies across the commonwealth, with help from GO Virginia grant Colleen Rich Mon, 07/12/2021 - 12:45

Fairfax, VA—�鶹��Ƶ Enterprise at �鶹��Ƶ has been awarded a GO Virginia grant to expand its network of tech mentors. The funding will support the Innovation Commercialization Assistance Program (ICAP), a program under the Virginia Small Business Development Center (SBDC) Network, doubling its capacity to assist technology and innovation-driven startups across Virginia.

Between 2018 and 2021, more than 600 companies across the state accessed ICAP services and went on to generate $40 million in new capital. These companies represented diverse ownership: 47% were minority-owned, 32% were women-owned, and 12% were military/veteran owned.

“We are excited about the opportunity to partner with �鶹��Ƶ and support the tech mentorship team,” said Susan Baker, managing director for GO Virginia Region 7. “This initiative promises to help entrepreneurs grow and scale. Projects like these greatly impact the economic growth and diversification of start-ups statewide, particularly after the challenges of the pandemic.”

ICAP’s proposed work, which will be funded through GO Virginia’s Economic Resilience and Recovery Program, addresses a statewide need for tech-focused mentorship, capital, and business support services.

“This grant couldn’t be more timely for our work,” said Paula Sorrell, associate vice president of innovation and economic development at �鶹��Ƶ. “As Northern Virginia and the Commonwealth of Virginia forge a path out of the pandemic, entrepreneurs and innovators will be leading the way in creating a diverse and resilient tech economy that works for everyone, and the mentors will be there to support them every step of the way.”

ICAP employs a network of mentors across the commonwealth with expertise in launching and scaling technology and innovation-focused companies. The mentors, who are themselves experienced tech entrepreneurs, advise startups on strategy, customer acquisition and attracting funding. These services are provided to client companies at no cost to them and create an exponential return on investment to Virginia’s economy.

“We are extremely grateful for this support from GO Virginia,” said Jody Keenan, state director for the Virginia SBDC Network. “ICAP has helped so many businesses get off the ground and weather the impacts of last year’s crisis, and this grant will enable us to do even more. We want to be able to provide reliable, dedicated and customized support to any tech startup anywhere in Virginia, no matter which stage they are in.”

The tech mentor team will leverage the Virginia SBDC’s 27 regional offices across Virginia. They will also lean on ICAP’s more than 60 statewide partners including accelerators, technology councils, economic development organizations and investors.

“We were really pleased to get statewide support for our project,” said Keenan. ‘’We look forward to creating new alliances that ensure wider access for Virginia’s entrepreneurs.”

�鶹��Ƶ �鶹��Ƶ

�鶹��Ƶ is Virginia’s largest public research university. Located near Washington, D.C., �鶹��Ƶ enrolls 39,000 students from 130 countries and all 50 states. �鶹��Ƶ has grown rapidly over the past half century and is recognized for its innovation and entrepreneurship, remarkable diversity, and commitment to accessibility. Learn more at www.gmu.edu.

�鶹��Ƶ �鶹��Ƶ Enterprise

�鶹��Ƶ Enterprise provides a suite of programs, incubators, and business advisors that support research lab-to-market, tech startup, and small business activities. Launched in 2018, ICAP contributes to building Virginia’s technology competitiveness by helping inventors and entrepreneurs bring new innovations to market. The program is run by �鶹��Ƶ’s Virginia Small Business Development Center (SBDC) Network that provides advising, support and training to small businesses and future entrepreneurs.

�鶹��Ƶ Media Contact: Angelina Jarrouj, Office of the Provost, ajarrouj@gmu.edu

Topics

Press Release

Press Releases

Small Business Development Center

�鶹��Ƶ Enterprise Center

GO Virginia

Fauquier County Chamber of Commerce recognizes �鶹��Ƶ’s commitment to county’s small businesses

Colleen Rich — Wed, 31 Mar 2021 18:41:21 +0000

Fauquier County Chamber of Commerce recognizes �鶹��Ƶ’s commitment to county’s small businesses Colleen Rich Wed, 03/31/2021 - 14:41

For small businesses in Fauquier County, sustaining their operations during the pandemic often hinged on the owner’s ability to process and adapt to rapidly changing government information.

Many in Fauquier’s small business community turned to the �鶹��Ƶ’s �鶹��Ƶ Enterprise Center (MEC) and the Lord Fairfax Small Business Development Center (SBDC) for support and guidance.

Christine Kriz. Photo provided

“There were so many changes and so much information coming so fast, we knew we needed to communicate in a way everyone could understand,” said Christine Kriz, Lord Fairfax SBDC director. “We helped businesses walk through the steps on how to apply for loans and grants. Many times it was life-saving for those businesses.”

For their timely and vital support to the business community, the Fauquier Chamber of Commerce recently recognized Kriz and Renee Younes, regional manager of the MEC, with the 2020 Business Hero of the Year awards.

Kriz, whose work covers six counties, was honored for her role with the Fauquier County COVID-19 response team set up to help businesses impacted by the pandemic. Every week, she provided crucial information to businesses including updates from the Small Business Administration (SBA), changes to the Paycheck Protection Program (PPP) process, and new public health requirements from the Virginia Occupational Safety and Health (VOSH) Program.

While the work was pivotal during the pandemic, it is part of a suite of services regularly available to businesses throughout the region.

“The SBDC and MEC are anchors in the Fauquier community,” said Paula Sorrell, associate vice president of innovation and economic development at �鶹��Ƶ. “We are a major supporter of the Virginia small business economy, and that job is more important than ever during challenging times like this.”

Kriz and Younes collaborate often and did so even before the pandemic. One of the opportunities they provide jointly is a breakfast seminar series to match entrepreneurs with others in the community who might have relevant expertise and can assist them in navigating specific issues.

Renee Younes. Photo provided

This coordination has been crucial for businesses as they emerge from the pandemic.

“The blessing of COVID is that it brought people closer,” said Kriz. “We came together as a group cohesively, solidified our relationships and got to know each other better. We got through it together.”

Lord Fairfax is one of 26 �鶹��Ƶ-run SBDC network offices providing comprehensive services helping small businesses and aspiring entrepreneurs across the commonwealth create business plans, apply for loans, track their financials and launch marketing campaigns, all at no cost to them.

The MEC in Fauquier is one of four �鶹��Ƶ-run incubators focused on supporting small companies. At these centers, entrepreneurs can receive mentorship and one-on-one counseling, attend educational sessions on starting and managing a business, access group health insurance and receive accounting, payroll and human resources support.

“Bringing people together to solve problems is probably what Renee does best,” said John Frazer from Brown & Bigelow, who nominated Younes for the award.

Despite disruptions to in-person engagement activities, �鶹��Ƶ remained committed to supporting the needs of the local economy. In the past year, �鶹��Ƶ assisted more than 10,000 companies, providing them with more than 27,000 hours of counseling. More than 17,000 entrepreneurs and small business owners attended 800 �鶹��Ƶ-hosted events. The result is an estimated economic impact to the Commonwealth of Virginia of more than $1 billion.

Topics

Campus News

Small Business Development Center

�鶹��Ƶ Enterprise Center

coronavirus; COVID-19; Editorial

�鶹��Ƶ extends a helping hand to small businesses affected by COVID-19

Colleen Rich — Wed, 29 Jul 2020 13:09:55 +0000

�鶹��Ƶ extends a helping hand to small businesses affected by COVID-19 Colleen Rich Wed, 07/29/2020 - 09:09

Topics

�鶹��Ƶ Enterprise Center

coronavirus; COVID-19; News; Editorial

Costello College of Business

CARES Act

Campus News