RICHMOND, Va., and WASHINGTON — Village Capital and the Commonwealth of Virginia have announced the winners of the first-ever Virginia Velocity Tour Business Plan Competition. One of winners was FluxTeq, a manufacturer of sensors and instrumentation for applications including HVAC.

The Virginia Velocity Tour, a partnership between Village Capital and the Commonwealth of Virginia, was created to provide visibility and seed funding for promising startups throughout Virginia. Held September 19-23, the program highlighted industry sectors of regional strength. During the tour, 29 finalists participated in public pitch competitions to panels of local judges for the chance to win $25,000 in equity-free grant funding. Five prizes were awarded, for a statewide total of $125,000.

“The Virginia Velocity Tour is one of the most successful initiatives we’ve been involved in. The quality of the entrepreneurs we have worked with make me very optimistic about Virginia’s economy,” said Ross Baird, CEO of Village Capital. “It has been an honor to collaborate with Governor McAuliffe, his team and partners across the Commonwealth. We look forward to continuing to work with this community of founders across Virginia that are building the next generation of the economy.”

The Virginia Velocity Tour committee selected winners from five regions across the state. FluxTeq, winner from the Roanoke/Blacksburg region, is a creator of flux sensors and thermal instrumentation for applications ranging from energy-efficient HVAC systems to medical diagnostics and management of thermal systems.

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Publication date: 10/10/2016

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