RCBI awarded nearly $44,000 to help launch businesses

July 12, 2017

The Greater Kanawha Valley Foundation has awarded the Robert C. Byrd Institute’s TEN50 Business Accelerator nearly $44,000 to drive innovation and entrepreneurship, economic development and ultimately job creation by supporting early-stage and growth-driven companies.

TEN50 already has resulted in new jobs and new product development in West Virginia, said Charlotte Weber, Director & CEO of RCBI. This new partnership with the Greater Kanawha Valley Foundation will increase the rate and strength of new ventures in Boone, Clay, Fayette, Kanawha, Lincoln and Putnam counties.    

RCBI's TEN50 Accelerator is a process of intense, rapid and immersive education aimed at accelerating the life cycle of young innovative companies. As West Virginia works to diversify and grow its economy, TEN50 partners provide access to assistance that includes Marshall University resources and research, global investors and local workshops. Such resources strengthen startups’ understanding of the keys to business success.

RCBI’s membership in the Global Accelerator Network also provides software perks as well as interactions with private investors and other accelerator members worldwide. Such benefits are invaluable to startups as they work to validate their individual business ideas in today’s global market.

"TEN50 is a huge success," Weber said. "TEN50 not only has provided the platforms for our first cohort to be successful, but it also has encouraged more public and private collaboration between job-creating entities in West Virginia.  We are fortunate to work with collaborating partners who understand the great need to invest in West Virginia's economic growth. Our partners include BB&T, Marshall University, the Global Accelerator Network, local economic development groups, chambers of commerce, and a board of statewide business leaders committed to job creation."

Weber praised the foundation for its continuing support of entrepreneurs in West Virginia. “The philanthropic efforts of The Greater Kanawha Valley Foundation enrich lives and build wealth in our communities,” Weber said. “We’re proud to partner with them to create and sustain economic growth across the Kanawha Valley.”

The Greater Kanawha Valley Foundation is the largest community foundation in West Virginia. For 55 years it has provided financial assistance to help individuals, communities, businesses and non-profits improve lives across the six countiesit serves.

To learn more about TEN50 or RCBI’s other services, visit www.rcbi.orgor call 800.469.7224.