Mission and Background
BACKGROUND
AdvanTech is a non-profit, small business incubator, designed to foster technology companies that are in the second stage of business development. In 1999, the Industrial Development Authority for the City of Richmond, in cooperation with the Department of Commerce Economic Development Administration and the Commonwealth of Virginia's Department of Business Assistance, contributed resources to create the first small business incubator in the Greater Richmond area. Extensive renovations and upgrades were completed in order to prepare the building for the demands of 100 growing technology companies.
MISSION
The goal and mission of AdvanTech is to contribute directly to economic growth and job creation in the area by providing state of the art physical space and business and technical support to entrepreneurs. The Industrial Development Authority in partnership with business development experts will encourage the formation of new, high-growth businesses with wealth and new job creation as the benchmarks for project success.