Startup Virginia is inviting aspiring entrepreneurs to participate in their Idea Factory, an 8-week hybrid program aimed at testing, improving, and validating business ideas. The Startup Virginia Idea Factory is perfect for anyone with a tech-driven or manufacturing-based business idea, offering training, resources, and support to help individuals decide if they are ready to become entrepreneurs. The program, which requires a 10-hour weekly commitment, includes both in-person and virtual workshops. Best of all, thanks to grants from GO Virginia and scholarships from the City of Richmond, Henrico County, and Chesterfield County, participation is entirely free. Applications for the Fall session, which starts on September 26, are open until August 28.

Program Overview

Startup Virginia is excited to offer another cohort of the Idea Factory, an 8-week hybrid program where aspiring entrepreneurs learn how to test, improve, and validate their business idea and get ready to create a product experiment, often called a “minimum viable product” (MVP). The application deadline is August 28th for the Fall session, which begins on September 26. You’ll find the program details below with more information on our website: startupvirginia.org/idea-factory.

Our Objective

The Idea Factory exists to (1) lead aspiring founders through the process of testing, refining, and validating their ideas, (2) provide accessible resources and education for those considering entrepreneurship, and (3) enhance our region’s entrepreneurial ecosystem and economy by building a more diverse and equitable founder community.

Who’s it for?

Anyone in Virginia with a technology-driven or manufacturing-based business idea is welcome to apply. The Idea Factory will provide the training, resources, and support to test your idea and help you decide whether you are ready to take the next steps toward becoming an entrepreneur.

Time Commitment

  • 10 hours per week for 8 weeks
  • Participation in 2 in-person and 4 virtual workshops on Monday evenings
  • Checkin weekly office with a mentor or facilitator
  • Willingness to talk about your idea with others, including interviewing strangers

Investment

What is the investment?
It’s FREE! The $500 program fee has been waived thanks to a grant awarded by GO Virginia and scholarships granted by the City of Richmond, Henrico County, and Chesterfield County. Those who successfully complete the program, validate their idea, and plan to commit a substantial amount of time to pursue a new business will be considered for additional support and free resources to help them keep going.

Am I ready?

All you need is an idea and a willingness to explore starting something new to apply to the Idea Factory. You don’t need business experience, specific training, or educational background or quit your day job. So yes, you’re ready!
Apply at startupvirginia.org/idea-factory! (Applications due August 28th.)

Question & Answer

What is the Idea Factory program by Startup Virginia?

The Idea Factory is an 8-week hybrid program offered by Startup Virginia aimed at testing, improving, and validating business ideas for aspiring entrepreneurs.

Who can participate in the Idea Factory program?

Anyone in Virginia with a technology-driven or manufacturing-based business idea can apply for the Idea Factory program.

What is the time commitment required for the Idea Factory program?

The program requires a 10-hour weekly commitment for 8 weeks, including participation in 2 in-person and 4 virtual workshops on Monday evenings, weekly check-ins with a mentor or facilitator, and willingness to talk about your idea with others.

What is the investment required to join the Idea Factory program?

Participation in the Idea Factory program is entirely free, as the $500 program fee has been waived thanks to grants and scholarships provided by various entities.

Do I need prior business experience to apply for the Idea Factory program?

No, you do not need business experience, specific training, or educational background to apply for the Idea Factory program. All you need is an idea and a willingness to explore starting something new.