West Virginia Executive Fall 2020 | Page 92

Connecting Innovators with Resources

TechConnect West Virginia

LORI KERSEY
According to the Computing Technology Industry Association , 2,306 technology businesses with payroll were established in the Mountain State in 2019 . Even though technology is still an emerging industry in West Virginia , it contributed an estimated $ 2.4 billion to the state ’ s economy last year .
West Virginia entrepreneurs interested in starting new technology companies need not go at it alone — the state is home to several programs and resources aimed at assisting businesses starting out in the sector .
“ Research shows when you start a business in a state , it ’ s more likely to stay there ,” says Anne Barth , executive director of TechConnect West Virginia , a statewide nonprofit organization whose mission is to diversify the economy through technology-based economic development . “ If we can get these businesses launched here , we have a better chance of keeping them in West Virginia , where they will create jobs , broaden the tax base , diversify the economy and offer other avenues of employment for students coming out of our universities .”
TechConnect supports and offers resources to any West Virginia entrepreneur whose business has a research component or is developing a technology . According to Barth , these types of businesses tend to take longer to get started than mainstream businesses .
“ It ’ s different from renting space , stocking shelves and opening the door ,” she says . “ When you ’ re developing something that has technology involved , there is a longer runway . We try to fill some of those gaps and help people get the assistance they need to be successful because we hope to create good-paying jobs in fast-growing sectors in West Virginia .”
One such resource TechConnect offers is TechWrx . A two-year project funded by the state and the U . S . Economic Development Administration , the program was awarded to TechConnect in November 2019 . As part of the TechWrx program , TechConnect partners with the Chemical Alliance Zone , INNOVA Commercialization Group and the Center for Applied Research and Technology in Bluefield to provide startups with specialized assistance .
“ These three centers of excellence offer expert technical entre preneurial commercialization assistance that takes many forms ,” says Barth . “ It might be helping a company get to the point of raising funds or finding early-stage seed capital or an angel investor , or it might be trying to help someone who has a product develop a prototype .”
Entrepreneurs have utilized TechWrx to develop a wide variety of technologies , from devices that simplify archeological digs and use West Virginia coal to create fire-proof , light-weight roofing tiles to antimicrobial coatings created by a biotech company .
TechConnect also coordinates the Federal and State Technology Partnership ( FAST ) program , which aims to increase awareness and education about the federal Small Business Innovation Research ( SBIR ) and Small Business Technology Transfer ( STTR ) grants . SBIR and STTR are programs that
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