The Startup Stability Program, funded partly by a $200,000 GO Virginia grant, is offering free rent for Hampton Roads startups. The program is a collaboration between Bloom Coworking, Percolator, and several business groups, and aims to assist entrepreneurs in launching their businesses through a 12-week accelerator program and expert mentoring opportunities. While any business can apply, there is a particular focus on helping minority, women, and veteran entrepreneurs. Along with three months of free rent at either Bloom in Portsmouth or Percolator in Norfolk, participants will also receive rental assistance as their businesses grow, access to the B-Force Accelerator program, and the opportunity to attend workshops and coaching sessions with industry experts. Applications are open until May 30, with the program commencing on June 1.

Introduction

From INSIDE BUSINESS By

Startup Stability Program

A new program funded in part by a $200,000 GO Virginia grant is giving Hampton Roads entrepreneurs the chance for months of free rent at area coworking spaces.

Program Details

The Startup Stability Program — a collaborative effort between Bloom Coworking, Percolator and several business groups — will help participants kick-start their business ventures with a 12-week accelerator program and expert mentoring opportunities.

Participant Eligibility

Any business can apply, but organizers are especially encouraging minority, women and veteran entrepreneurs to take advantage of the program, said Kindra Greene, Bloom Coworking community manager.

Benefits and Opportunities

Each participant will receive three free months of rent at Bloom in Portsmouth or Percolator in Norfolk. After three months, the coworking spaces will provide progressive rental assistance as the businesses grow, Greene said. Also, entrepreneurs will get to participate in the 12-week-long B-Force Accelerator program, which is organized by Black BRAND, the Hampton Roads Black chamber of commerce. Finally, participants will be able to access workshops and coaching opportunities from industry experts.

Application Process

To apply, visit bloomcoworking.org. The final deadline to apply is May 30, and the program will begin June 1.

Partnership and Contact Information

The program is a partnership between Bloom, Percolator, Black BRAND, the Norfolk State University Innovation Center and Portsmouth Partnership — a volunteer group that promotes economic development in that city.

Trevor Metcalfe, 757-222-5345, trevor.metcalfe@insidebiz.com

Question & Answer

What is the Startup Stability Program offering to Hampton Roads startups?

The Startup Stability Program is offering free rent for Hampton Roads startups at coworking spaces.

Who is funding the Startup Stability Program?

The program is funded partly by a $200,000 GO Virginia grant.

Who is eligible to apply for the Startup Stability Program?

Any business can apply, but there is a particular focus on helping minority, women, and veteran entrepreneurs.

What are some benefits and opportunities for participants in the Startup Stability Program?

Participants will receive three months of free rent at Bloom in Portsmouth or Percolator in Norfolk, rental assistance as their businesses grow, access to the B-Force Accelerator program, and workshops and coaching sessions with industry experts.