Initiative:
Create a Regional Venture Fund

Goal:

Create a regional 'Early Stage Fund of Funds' to support start-ups, stimulate entrepreneurial environment, and create high quality jobs across diverse industries.

Intended outcome:

More new businesses and high quality jobs.

Strategies:

  • Create a regional committee to recruit the best possible fund manager or managers.
  • Include both a fund intended to achieve market returns, and a fund targeting high quality companies in traditional industries that typically do not attract venture investment.
  • Draft prospectus.
  • Raise funds - target $100 million.
  • Draw external investment capital to the region through the participating funds.

Lead Organization:

Regional Steering Committee/Allegheny Conference

"The conversation on regional interstate economic development is becoming more robust, deeper and more collaborative. We are seeing that many of our challenges and opportunities are similar. The Power of 32 is changing some of the systemic thinking and the ways we are acting and interacting. We have a greater value and greater leverage as a region."

– David Satterfield, Interim Director, West Virginia Manufacturing Extension Partnership

For questions or comment regarding Economy Initiatives email: economy@powerof32.org