A group of state organizations that includes the Marshall Advanced Manufacturing Center (MAMC) has been awarded nearly $850,000 by the U.S. Economic Development Administration (EDA) to support small business development and entrepreneurial growth across West Virginia.
Led by the High Technology Foundation, the organizations, which also include TechConnect WV, the Chemical Alliance Zone and the U.S. Research Impact Alliance, will provide comprehensive technical assistance, coaching and advising, business development services as well as matchmaking to connect technology-based businesses to investors.
MAMC’s role will be providing technical assistance through its Early Stage Funding initiative. Small businesses and entrepreneurs can apply for funding that ranges from $1,000 to $10,000 to cover the cost of new product development, design engineering, product prototyping, quality management implementation and advanced technology skill-set training.
Since 2021, MAMC’s Early Stage Funding initiatives have helped create hundreds of new jobs and generated millions of dollars in new sales, according to an economic impact study by Marshall University and MAMC internal data.
To learn more about MAMC’s Early Stage initiative and apply for assistance, visit www.mfg.marshall.edu/esfo.
The EDA award is part of the Assistance to Coal Communities initiative to support economic diversification, workforce development and job creation in communities affected by the decline in the coal industry.
Nov. 26, 2024
