APR is all about collaboration. We are excited to celebrate with Savannah area non-profit The Creative Coast, as they receive an incredible grant providing seed funds for Savannah area entrepreneurial efforts.
On Tuesday, July 23, The Creative Coast received a Federal grant from the Economic Development Administration to fund the development of a seed fund in the region. This grant will help fund the launch and management of a $2 million to $10 million seed fund that will invest in about 30 high growth potential startups in an eight county region (Beaufort, Jasper, Hampton counties in South Carolina and Chatham, Bulloch, Bryan, Liberty and Effingham counties in Georgia).
The Creative Coast Executive Director, Jennifer Bonnett, tells Savannah Morning News, "The Bridge Fund — goes across the Savannah River, across the state line. I believe this was key to our success in receiving the federal funding. This grant is a Regional Innovation Strategies grant and regions go across state lines. Talent and customers travel across state lines every day. We believe investors will, too.
Now, the real work begins. Now, we go out and raise $2 million to $10 million from high net worth individuals and companies to fund the fund, and eventually the companies, who are interested in an ROI on both their investment and our region. Will you join us?"
We're excited for all that's to come and love collaborating with our creative economy.