Program areas at Innovate Hampton Roads
Entrepreneurial Education and Competition toward Ecosystem Development: Innovate Hampton Roads (IHR) empowers entrepreneurs through educational workshops and high profile competitions. From June to December, 2024 IHR educated 30 founders with 42% from historically underrepresented groups through initiatives like four Start Peninsula Micro Pitch Competitions, culminating in a final pitch event in November 2024. The program facilitated over 200 mentorship hours. IHR also hosted the first-ever Virginia Regional StartUp World Cup, where local startup IV Watch placed third globally while competing for a $1 million prize. Moreover, in 2024 IHR hosted six events with 715 attendees including "Down to Earth: Ready to Launch" workshop with NASA Research Center in Hampton, Virginia.
Startup Incubator and Support: IHR manages the REaKTOR Technology Innovation Center, a hub for technology-driven startups in Hampton Roads, Virginia, providing office/lab space, mentorship, and funding support. From June to December 2024, the incubator onboarded five new companies, surpassing the goal of three, and supported a portfolio of 16 companies employing a staff of 91. The program facilitated $9.185 million in grants, investments and commitments for 7 client companies, created 24 new jobs, recruited seven professional service providers and introduced four investors.
Who funds Innovate Hampton Roads
Grants from foundations and other nonprofits
Financials for Innovate Hampton Roads
| Revenues | FYE 12/2024 | FYE 12/2023 | % Change |
|---|
| Total grants, contributions, etc. | $139,368 | $126,744 | 10% |
| Program services | $157,769 | $2,425 | 6405.9% |
| Investment income and dividends | $0 | $0 | - |
| Tax-exempt bond proceeds | $0 | | - |
| Royalty revenue | $0 | | - |
| Net rental income | $0 | | - |
| Net gain from sale of non-inventory assets | $0 | $0 | - |
| Net income from fundraising events | $0 | | - |
| Net income from gaming activities | $0 | | - |
| Net income from sales of inventory | $0 | $0 | - |
| Miscellaneous revenues | $0 | $0 | - |
| Total revenues | $297,137 | $130,129 | 128.3% |
Organizations like Innovate Hampton Roads
| Organization | Type | Location | Revenue |
|---|
| Womens Entrepreneurship Day Organization | 501(c)(3) | New York, NY | $194,696 |
| Mujer Emprende Puerto Rico | 501(c)(3) | Puerto Rico, | $138,510 |
| Principled Business | 501(c)(3) | Lopez, PA | $450,872 |
| VINE Institute | 501(c)(3) | Woodland, CA | $548,729 |
| Side Hustle Economy Co | 501(c)(3) | Indianapolis, IN | $102,057 |
| New Energy Nexus Enventure | 501(c)(3) | Berkeley, CA | $106,494 |
| Rockies Venture Institute | 501(c)(3) | Denver, CO | $158,687 |
| Ihub San Joaquin | 501(c)(3) | Stockton, CA | $370,525 |
| Women Impacting Storebrand Excellence (WISE) | 501(c)(3) | Lombard, IL | $190,174 |
| Southern Illinois Now | 501(c)(3) | Carbondale, IL | $442,580 |
Data update history
April 7, 2026
Posted financials
Added Form 990 for fiscal year 2024
January 21, 2026
Used new vendors
Identified 1 new vendor, including
August 17, 2024
Updated personnel
Identified 9 new personnel
August 14, 2024
Posted financials
Added Form 990EZ for fiscal year 2023
Nonprofit Types
Social advocacy organizationsBusiness and community development organizationsCharities
Issues
Economic developmentBusiness and industry
Characteristics
Legally formed as corporationPartially liquidatedState / local levelReceives government fundingTax deductible donationsNo full-time employeesAccepts online donations
General information
- Address
- PO Box 664
- Virginia Beach, VA 23451
- Metro area
- Virginia Beach-Norfolk-Newport News, VA-NC
- County
- Virginia Beach city, VA
- Website URL
- innovate757.org/Â
- Phone
- (757) 362-0436
IRS details
- EIN
- 47-4617002
- Fiscal year end
- December
- Taxreturn type
- Form 990
- Year formed
- 2015
- Eligible to receive tax-deductible contributions (Pub 78)
- Yes
Categorization
- NTEE code, primary
- S43: Management Services for Small Business, Entrepreneurs
- NAICS code, primary
- 813319: Social Advocacy Organizations
- Parent/child status
- Independent
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