Greater Richmond Companies to Watch
Frequently Asked Questions
What make this business award different than any other award event?
The GRCTW is the only business award project that is looks forward as opposed to being based on historical results. The concept is to identify local companies with promising futures and show the Greater Richmond economy has a bright future ahead of it. It is time to put the complaining about the dotcom bust to bed.
We are going to try to limit the number of times you are supposed to clap to eight, it is not a sit down event and tuxedos are not recommended.
Who came up with the GRCTW idea?
The GRCTW idea came from Carl Johnson, President of NBI Advisors. Carl works with many local early stage companies with high growth potential. Carl was at a VC conference in Maryland where a Northern Virginia venture capitalist said that the Richmond area did not have enough of a critical mass of innovative companies to warrant venture capitalists to pay attention to the area. He also referred to a published list of Richmond’s fastest growing companies that did not include any businesses that a venture capitalist would be interested in. Carl decided to create the GRCTW project to show the outside world that Richmond does have a critical mass of highly innovative companies with high growth potential deserving of attention from capital sources.
What are the objectives of the GRCTW project?
There are many objectives of the GRCTW project including:
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Ø A positive, forward-looking event that will hopefully put an end to the angel investment stagnation created by the dotcom bust.
Ø Set a precedent by getting many of
Ø Promote the Venture Forum as the go-to place to learn about
Ø A first step towards the creation of an active angel investment group to support the area’s fledgling businesses with high growth potential.
Ø Advertise the importance of encouraging the growth of high risk, high potential companies in the conservative
How will you find the area’s Companies to Watch?
The GRCTW project has taken deliberate steps to be inclusive and unbiased while selecting the area’s Companies to Watch. The first step was to create the project through non-profit business organizations as opposed to a leading service provider. By taking this route, the GRCTW project hopes to avoid the unfortunate parochialism that occurs when one firm announces an award search and competing firms do not actively get their clients to participate.
The second step is to provide a high demand for companies to want to apply. By featuring selected companies at the event, including them in a full-color magazine insert, having them selected by non-biased third parties, sending their names to venture capital firms and leading Fortune 500 CEOs around the country and providing countless other benefits, companies will have many reasons to want to be selected.
The third step is to find those deserving companies that may be flying under everybody’s radar. The Venture Forum asked and received a confidential list of local businesses that fit certain growth criteria from Chmura Economics and Analytics, the area’s leading source for local economic data. This list is analyzed and potential CTWs are being contacted by GRCTW volunteers.
The fourth step is to promote the event and call for nominations through the contact lists of the Venture Forum, Greater Richmond Chamber of Commerce, Greater Richmond Partnership, Greater Richmond Technology Council as well as the City of Richmond Economic Development Department’s Multicultural Business Solutions Center and other organizations that have not yet been contacted.
Why did you select Main Street Station for the event? Will security be available?
Main Street Station was selected to highlight one of downtown Richmond best kept secrets. Usage of the rail connection to Washington D.C. is minimal and the second floor of the station, where the event will be held, is the unwittingly hip atmosphere we are looking for.
Hopefully by the time of the event, control of the large parking lot west of the Station will move to the City. Currently, it is owned by the State. If this lot is unavailable, parking is available across and to the side of Main Street Station. It is anticipated that security and possibly valet parking will be made available.
How can I help?
Individuals can help the project by recommending deserving companies to apply, having their business sponsor the event, buying tickets to the event or volunteering services. There is information related to all of these opportunities located throughout the web site or call those listed on the Contact page.
