Policy Considerations: Supporting WV Entrepreneurship
WV Forward’s blueprint shows that West Virginia can make the most economic development opportunities if there's a focus on ramping up strategic investments and funding. West Virginia can do more to improve investments and growth opportunities for business and technology.
America’s seed fund programs like the federal Small Business Innovation and Research (SBIR) and Small Business Technology Transfer (STTR) help companies and universities turn new technologies into viable business opportunities. Some states like Kentucky and North Carolina have already set up matching funds to boost entrepreneurial activity and commercialization. This year, the West Virginia Legislature is considering to do the same. West Virginia’s SB 602 and HB 2550 are proposed bills that aim to add matching funds to SBIR and STTR. The more we can do to set a strong foundation to build West Virginia's innovation ecosystem, the faster we can move WV Forward toward a more robust economy.
Stay tuned for a post-session summary on the policies and legislation that address issues related to WV Forward efforts in the coming weeks.
America’s seed fund programs like the federal Small Business Innovation and Research (SBIR) and Small Business Technology Transfer (STTR) help companies and universities turn new technologies into viable business opportunities. Some states like Kentucky and North Carolina have already set up matching funds to boost entrepreneurial activity and commercialization. This year, the West Virginia Legislature is considering to do the same. West Virginia’s SB 602 and HB 2550 are proposed bills that aim to add matching funds to SBIR and STTR. The more we can do to set a strong foundation to build West Virginia's innovation ecosystem, the faster we can move WV Forward toward a more robust economy.
Stay tuned for a post-session summary on the policies and legislation that address issues related to WV Forward efforts in the coming weeks.