WASHINGTON, D.C. – U.S. Senators Shelley Moore Capito (R-W.Va.) and Joe Manchin (D-W.Va.), members of the Senate Appropriations Committee, today announced $194,672 from the U.S. Economic Development Agency (EDA) Regional Innovation Strategies (RIS) program for the New River Gorge Regional Development Authority (NRGRDA). This funding will support the Country Roads Access Network, an initiative that provides capital investment for early-stage businesses and an educational component designed to spur entrepreneurism and drive economic growth in southern West Virginia.
“This is a huge investment in southern West Virginia. The EDA recognizes the tremendous potential of our state and the hard work ethic of our entrepreneurs. Through CRAN, we will be able to support entrepreneurship and innovation, two driving factors for economic growth. This funding will help more startups get off the ground and get to work in their local communities,” Senator Capito said.
“I am glad to see the EDA is investing in West Virginia. This funding will assist the NRGRDA in leveraging $2 million in private investments through CRAN. West Virginia is home to many entrepreneurs, and this funding will support the commercialization of their ideas or will help a small business scale-up – which leads to job creation and a boost to our economy. As a member of the Senate Appropriations Committee, I will continue to fight for funding that strengthens our economy and supports West Virginians and their goals,” Senator Manchin said.
“Securing funding from the US EDA RIS Seed Fund Support initiative is an exciting and innovative approach to entrepreneurial capital access for the state of West Virginia. The development of Country Roads Angel Network will provide early stage, risk capital and educational resources to both entrepreneurs served by NRGRDA’s WV Hive Network initiative as well as other early-stage, innovation-based companies throughout the New River Gorge region and West Virginia,” said Jina Belcher, Director of Business Development, NRGRDA
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