The purpose of this Request for Information/ Qualifications (RFI/Q) is to solicit responses from organizations interested in serving as the Regional Coordinating Entity to advance regional entrepreneurial ecosystem development activities for GO Virginia Region 5 (comprised of communities in Hampton Roads and Virginia’s Eastern Shore).
RFI Inquiries/Point of Contact
All responses to this RFI/Q should be submitted by email citing the Regional Coordinating Entity title to:
Ms. Donna S. Morris, Executive Vice President Reinvent Hampton Roads
email@example.com by 5:00pm, Wednesday, September 4, 2019.
Statement of Need
In 2018, the Virginia Department of Housing and Community Development (DHCD) engaged TEConomy Partners, LLC to provide each GO Virginia region with an independent and objective assessment of its entrepreneurial development position, to facilitate a situational assessment of the region’s entrepreneurial ecosystem, and to help identify priority actions to strengthen the ecosystem. Each region was provided with the baseline assessment that can be utilized by the regional council to develop a pipeline of initial projects to support regional entrepreneurship.
A significant finding of the TEConomy reports was that each GO Virginia region would benefit from the identification of an entrepreneurial coordinating entity to advance regional ecosystem development activities. This coordinating entity would identify opportunities and needs within the
targeted traded sectors and facilitate implementation. You can access the TEConomy Partners report for Region 5 from this link to the Virginia Department of Housing and Community Development website.
A GO Virginia grant up to $300,000 will be available to develop a regional entrepreneurial investment plan, based on the recommendations of TEConomy and other input from the Region 5 Regional Council and interested stakeholders. The $300,000 funding amount may support the
initiative for no more than two years, but the production of quick outcomes is encouraged in order to move to implementation of the regional investment plan.
While the local match requirement and the $1:1 match for typical GO Virginia grants will be waived, a minimum code of Virginia match of half the grant will still be required (e.g. A $300,000 request will require $150,000 match of non-state matching sources).
It is envisioned that these grants will enable the coordinating entity to:
(a) Develop a strategy for implementing the TEConomy recommendations or other concepts derived from the stakeholder engagement process that aligns with the regional economic growth and diversification plan.
(b) Develop a structure for advancing the entrepreneurial ecosystem, and
(c) Develop strategies to sustain the initiative after the initial GO Virginia grant
The coordinating entity may use a dedicated staff member or an outside consultant to assist with the delivery of the items outlined above. Each proposed plan shall include specific deliverables and metrics which will be used to measure success.The regional council will provide oversight of the coordinating entity, which will provide leadership to develop projects to implement the strategies and structures identified through the process.
Background – Provide a concise paragraph outlining your organization’s background.
Qualifications – List your organization’s qualifications to serve in the role of coordinating entity.
Other Information-Provide any other information that would be useful in our evaluation.