A. The Department shall establish and administer a pilot program whereby established businesses, or subject matter experts in relevant industry sectors, act as mentors for start-up women-owned and minority-owned businesses. In establishing the program, the Department may include any of the following elements: (i) requiring a participant who has completed the Department’s Scaling4Growth program or any successor program to act as a mentor for a start-up women-owned or minority-owned business; (ii) awarding grants in each region, as defined in § 2.2-2484, to recruit mentors and match them with start-up women-owned and minority-owned businesses in such region; or (iii) any other measures the Department deems appropriate for facilitating mentorship relationships between established businesses and start-up women-owned and minority-owned businesses. The Department shall also evaluate the feasibility of awarding procurement preferences for businesses who agree to act as mentors in the mentorship program.

Terms Used In Virginia Code 2.2-1605.1

  • Department: means the Department of Small Business and Supplier Diversity or any division of the Department to which the Director has delegated or assigned duties and responsibilities. See Virginia Code 2.2-1604
  • Minority-owned business: means a business that is at least 51 percent owned by one or more minority individuals who are U. See Virginia Code 2.2-1604

B. In establishing the pilot program under subsection A, the Department shall by July 1, 2023, select an initial group of established businesses, subject matter experts in relevant industry sectors, and start-up women-owned and minority-owned businesses. The Department shall by July 1, 2024, report on the progress of the initial group pursuant to § 2.2-1610, but shall not select a second group unless directed to do so in legislation enacted by the General Assembly.

2022, c. 302.

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