In January 2011, GENEDGE ALLIANCE launched its Innovation & Growth for Southside and Southwest Virginia initiative by holding three regional workshops in partnership with economic developers throughout the state. The effort included close collaboration and cooperation with our Southwest Virginia affiliate, the Manufacturing Technology Center in Wytheville. Workshops in Adkins, Danville and Lebanon generated interest in the Innovation grant program and thus far have received an overwhelming response from companies throughout the Commonwealth. The initiative is part of a $1 million grant obtained by GENEDGE, which is available to help Virginia industries grow by developing new markets and products (see our press release detailing the specifics of the program).

Our findings thus far? Apparently, innovation and growth are a very high priority for Virginia companies. Three firms are currently enrolled in this grant initiative, representing the following industries: defense contracting, auto component manufacturing, and consumer products. With several more firms lining up and service proposals pending, Innovation & Growth for Southside and Southwest Virginia is proving to be among the most sought after programs ever launched by GENEDGE.

“Scientific evaluation, market planning and commercialization of new ideas are all key components in the innovation process,” says Jeff Kohler, Executive Director of GENEDGE ALLIANCE. “This program affords Southside and Southwest Virginia businesses an opportunity to explore their new business potential in a way that is both data driven and low risk.”

In each case, the circumstances leading to the company’s decision to innovate are different. In the first case, a once lucrative market has literally disappeared overnight due to a political factor; therefore, identifying a new market quickly is imperative. In the second case, a new product has been in development and GENEDGE was called in to help the company scientifically evaluate the underlying benefits offered to the target market along with the product’s predicted likelihood of success. In the final case, a manufacturer wishes to use its traditional core competencies to enter a new market. GENEDGE project managers are applying a two-step process with all companies involved in order to (1) scientifically evaluate the likelihood of success for new ideas and products, and (2) plan and assist with commercialization launch through resources and expense reduction available with grant program access. GENEDGE is the only provider in Virginia eligible to take companies through this process.

Although the grant initiative applies only to companies residing in the Tobacco Indemnification region, these same Innovation & Growth services are available to any company in the Commonwealth as part of our standard Manufacturing Extension Partnership (MEP) offerings.

GENEDGE project managers Paul Bolesta and Mike G. Levy take participants through a rigorous self-evaluation that includes a high degree of market insight. Using the Merwyn Research concept evaluation tool, a patented screening process is applied to your idea, benchmarking it against thousands of other successful ideas. Later, if the idea meets certain criteria, a commercialization plan is developed and GENEDGE resources are capable of assisting with everything from product development, certification, testing services and engineering to plant layout work and prototype development.

Companies interested in Innovation & Growth programs through GENEDGE are invited to contact Paul Bolesta at (804) 840-1670 or Mike Levy at (804) 840-1465 for more information. Alternatively, companies may call their local economic developers to see if an informational workshop is scheduled in the corresponding area.