Launch LYH is a program that supports entrepreneurs who are ready to start a new business, relocate their business, or expand their existing business in a Downtown Lynchburg storefront.
Donor Name: Downtown Lynchburg
State: Virginia
City: Lynchburg
Type of Grant: Program
Deadline: 01/31/2025
Size of the Grant: $10,000 to $100,000
Grant Duration: Grant Duration Not Mentioned
Details:
Funding Information
- Total grant funds available in 2025 were $100,000.
- Winning pitches will receive at least $20,000 in cash grants to help with new venture costs.
- Grant awards are reimbursement-based, and will not be paid out until expenses are incurred.
Eligibility Criteria
- Launch LYH is open to new businesses, existing online businesses, existing brick-and-mortar businesses located elsewhere, and existing Downtown businesses seeking to expand their footprint.
- Businesses must create a new amenity for Downtown Lynchburg visitors and/or residents, and therefore must fall within one of the following categories:
- Entertainment/culture/attraction
- Restaurant/beverage
- Retail
- Residential/workforce amenities (market/convenience store, pharmacy, dry cleaning, laundromat, etc)
- The business must not have announced that it will be opening/expansion to Downtown Lynchburg.
Participation Requirements
All applicants must:
- Be ready and willing to open a business in a Downtown Lynchburg storefront location by December 31, 2025. A storefront is a first-floor commercial space with a street-facing public entrance.
- Attend an eight-week business training course, create and submit a detailed business plan, and present the business idea to a panel of judges at a pitch competition.
- Create at least one new job with new or expanded business.
- Participate in at least two Downtown Lynchburg Association promotions in the first year after opening
- Attend two follow-up classes provided by the Lynchburg Small Business Development Center in the first year (free)
- Meet with a mentor, assigned to you by the Downtown Lynchburg Association, at least once per month for the first six months
- Be available for press opportunities and engage in ongoing dialogue as the project progresses for the first six months
- Submit photos, once per month for the first 12 months to chronicle your development, and then twice per year thereafter for the next two years.
- Submit the following data annually for progress reporting for the first three years following your business opening and document expansion through a signed performance agreement. Data collected will be confidential to the partnering organizations and will include, but not limited to:
For more information, visit Downtown Lynchburg.
