Update (July 2026): The accelerator program announced in this article has officially launched as RAMP Up, an 8-week accelerator for innovative Virginia entrepreneurs delivered through a partnership between RISE Collaborative and RAMP (Regional Accelerator & Mentoring Program). Learn more about the program, eligibility requirements, and upcoming cohorts at https://sovarise.com/ramp-up >

In September 2025, Virginia Tobacco Region Revitalization Commission (TRRC) approved funding for a new entrepreneurship initiative led by the SOVA Innovation Hub through RISE Collaborative.

The initiative will help grow Southern Virginia’s economy by supporting entrepreneurs, innovative businesses, and regional partnerships. Its goal is simple: create more businesses, create more jobs, and strengthen the region’s innovation ecosystem.

Since receiving funding, the SOVA Innovation Hub and its partners have been building the initiative, developing new partnerships, and preparing to launch new programs and resources that will support entrepreneurs across the region. 

Helping Entrepreneurs Grow

A key part of this initiative is the development of a new accelerator program, adding a new level of entrepreneurship support to Southern Virginia’s growing training portfolio.

An accelerator is an intensive program that helps entrepreneurs move their businesses forward in a short period of time. Participants work alongside mentors, industry experts, and other entrepreneurs to solve challenges, test ideas, and prepare for growth.

The program will focus on commercialization, which means turning an idea, innovation, research, or new product into something customers will buy. Participants will learn how to validate their market, refine their business model, build partnerships, and develop a plan for growth.

The accelerator will serve startups, existing businesses launching new products or services, and other innovative companies with strong growth potential. Participants will receive business education, mentoring, technical assistance, and connections to regional resources. Participants who complete the program and meet eligibility requirements will also qualify for non-dilutive grant funding of up to $10,000 per company.

Supporting Local Business Service Providers

Startups and growth-oriented businesses need trusted partners. Through this initiative, RISE will build a network of volunteer mentors and Preferred Service Providers to support participating companies. This creates opportunities for local professionals while helping entrepreneurs succeed.

Service providers may include attorneys, accountants, engineers, manufacturers, marketers, banks, software developers, and other business experts.

Growing the RISE Summit

Funding also supports the continued growth of the RISE Summit, Southern Virginia’s annual entrepreneurship and innovation conference. The Summit brings together entrepreneurs, innovators, business leaders, investors, educators, students, and resource partners to share ideas, build connections, and strengthen the region’s entrepreneurial ecosystem.

Investing in Regional Collaboration

This initiative reflects RISE Collaborative’s commitment to connecting entrepreneurs with the people, programs, and resources they need to succeed. Through collaboration among the SOVA Innovation Hub, economic development organizations, educational institutions, industry partners, investors, and business support organizations, Southern Virginia is building a stronger innovation ecosystem that encourages entrepreneurship, supports scalable businesses, and creates high-quality jobs.

This initiative complements other recent investments by TRRC and GO Virginia in Southern Virginia’s entrepreneurship and innovation ecosystem. In January 2025, the SEED Innovation Hub opened in Farmville, expanding access to entrepreneurial resources and innovation programming in the northern portion of the RISE region. In Fall 2026, the SOVA Fab Lab will open at the SOVA Innovation Hub in South Boston, providing entrepreneurs, manufacturers, students, and innovators with access to prototyping equipment, digital fabrication technologies, and maker education.

Together, these investments create a stronger regional network of innovation spaces, entrepreneurship programs, and business support resources that help entrepreneurs move from idea to startup to growth.

Looking Ahead

This investment is about more than one program.

It helps build a stronger network of entrepreneurs, mentors, business service providers, and regional partners. Together, they will create more opportunities for innovation, business creation, and job growth across Southern Virginia.

More details about the accelerator program and other opportunities will be announced in the coming months.