SBTC officials realized that the organization needed to rebrand itself to reflect what the organization was doing. During this rebranding process, the organization was awarded an unprecedented $10 million grant for five years from the Danville Regional Foundation (DRF). The organization increased its capacity to deliver its traditional business consulting services and earned the new capacity to recruit and retain entrepreneurs. The Launch Place was born.
The Launch Place has been granted additional funding from the Danville Regional Foundation to establish Pre-Seed Fund II and Seed Fund II that launched in July 2018. Our goal with these new Funds is to further develop an “idea-based entrepreneurship ecosystem” in the Dan River Region resulting in innovation, job creation, and ultimately transformation to the new technology-based economy. These funds totaling $11 million will allow us to continue to invest in innovative, high-growth, technology companies and continue offering wrap-around services to start-up companies during the next 5-years.
With this DRF investment, The Launch Place looks for investment opportunities and offers a full menu of services for entrepreneurs to be successful in its office locations in Danville, Virginia and the Research Triangle Park, North Carolina.
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