Homegrown incubator: UVA’s i.Lab boosts burgeoning companies, from the idea up
C-VILLE Weekly Wednesday, February 28, 2018 at 8 a.m.
The University of Virginia’s i.Lab is where good business ideas go to become great ones.
Local entrepreneurs and their teams apply for the incubator program in January, and if they’re one of about 20 groups selected after a Shark Tank-style round of pitches, they’ll be admitted into a 10-week program where their start-ups are provided a $5,000 grant, workshops, mentorship and workspace, followed by ongoing support from the folks on staff at the i.Lab.
Since the summer of 2013, the lab has provided more than $600,000 in grant funding to more than 100 business ventures, according to its director, David Touve. He says, long-term, its programs have racked up nearly $1.5 million in grants to more than 225 ventures and their 400-plus team members over the past 18 years.
At the i.Lab, the entrepreneurial spirit is contagious.
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