Shenandoah University, U.S. Department of the Treasury Host Small Business Summit

Shenandoah University and the U.S. Department of the Treasury teamed up for a daylong conference on Tuesday, Sept. 24, that helped connect the region’s small businesses to vital resources.

The 50 States Initiative Small Business Summit, held on SU’s main campus in Winchester, featured government and industry leaders at the national, state and local levels and faculty experts from Shenandoah University who explored a variety of topics and provided small-business owners and entrepreneurs with the important information, resources and opportunities they need to thrive. The summit took place in Shenandoah’s Halpin-Harrison Hall and the brand-new Hub for Innovators, Veterans and Entrepreneurs (HIVE). 

It was the first major event held in the HIVE, a technology hub and innovation accelerator designed to serve as a catalyst for economic development in the Northern Shenandoah Valley. During the Small Business Summit, the U.S. Department of the Treasury’s Office of Small and Disadvantaged Business Utilization (OSDBU) recognized the HIVE as a Center of Excellence, underscoring the university’s commitment to supporting small and veteran-owned businesses throughout the Winchester and Frederick County community, the Northern Shenandoah Valley, and beyond.

We’re making history and we’re a part of history today, and we’re grateful for the Department of the Treasury and this collaboration. We’re better together. That’s what this space represents. Think of a hub, a space where innovators, veterans, entrepreneurs – that’s what we are – can come together and grow our businesses and make our communities better. And we’re doing that on a university campus, so on top of that we have students who are learning and growing and they’re going to be a part of this, and as a result, they’re going to be better and they’re going to go out in the community and they’re going to make the community better. This really does mean a lot and we’re thrilled about the partnership, we’re thrilled about the Center of Excellence, and we really look forward to seeing everything that’s going to come out of this space and our partnership with (the Department of the Treasury).”

James Imoh, chair of Shenandoah University’s Board of Trustees

Established by the Treasury OSDBU, the 50 States Initiative was created to foster economic growth, create jobs and promote innovation at the local level in underserved and under-resourced communities. By actively engaging with small-business owners and stakeholders through events like the Small Business Summit, the OSDBU gains a better understanding of the unique challenges faced by those groups in different regions of the country, allowing for more specialized support to help address specific needs.

The theme of the 50 States Initiative Small Business Summit was “Building an Inclusive Innovation Ecosystem Through Empowering Diversity and Business Transformation.” The summit featured six panel discussions, including an afternoon session with Shenandoah faculty and staff who discussed how the university can collaborate with the community to expand the role of small business ecosystems.

Shenandoah President Tracy Fitzsimmons, Ph.D., was the opening speaker for the Small Business Summit.

“We were honored to host the 50 States Initiative Small Business Summit in collaboration with the U.S. Department of the Treasury and the Office of Small and Disadvantaged Business Utilization,” Dr. Fitzsimmons said. “This event was an excellent way to introduce the HIVE, an amazing program that will provide the tools and resources for technological advancement and economic growth not only within our university, but throughout the local community and the Northern Shenandoah Valley. The Small Business Summit is just the start of Shenandoah’s partnership with the U.S. Department of the Treasury, and we look forward to working together – and with our community partners – to empower small businesses throughout our region.”