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A Kinder, Gentler Shark Tank

Lots of people dream of starting their own businesses. But how many of those table  top discussions actually go on to the next phase?  Taking a cue from the popularity of the “Shark Tank” TV show, spin-off tanks are springing up.  Communities are  using them to help launch local businesses in Virginia. 

If TV’s Shark Tank is for the big fish, Floyd’s was more like a school of small fish.  Instead of venture capitalists looking to invest it was area economic development experts doing the judging.

Economic Development Authority Chairman, Jon Beegle explains why Floyd County is using the creative approach to foster small business development

"I think we’re kind of forced in that direction, in part because we don’t have four lanes we don’t have railroads, we don’t have anything that will draw a large business here," he says.

"But a couple things we do have.  We have incredible fiber optic infrastructure, unsurpassed in the region so that works really well with really creative businesses," says Community and Economic Development Director, Lydeana Martin,the force behind the competitions.

She brought in the funding from the county’s economic development authority and Virginia’s Department of Housing and Community Development. Now, she’s looking to leverage this lightening fast Internet connection to spur local business.

"Because e-commerce is such a big opportunity for people.  You can come up with your product and your market literally is the world."

Another attraction for contestants was the chance to work in the new Floyd Innovation Center.  New River Valley Regional Commission Planner, Patrick Obrien was a judge in the competition.

"The building is very reflective of the uniqueness of Floyd."

When you think of a commercial complex, this new timber framed building full of natural light with beautiful views isn’t the picture that first comes to mind.

"No it's not. Driving in here every day you see the beautiful mountains."

The building costs so little to heat and cool, that it’s included in the rent. The First place winner gets a break on that rent and a five thousand dollar prize.

"Drumroll please...  The first place winner is the mischievous Carrot!Rhonda Withington’s line of natural and organic products won first place."

Her products include a deodorant, a tooth powder and something called tired old foot soak. A former livestock manager on an organic farm in northern Virginia she couldn’t find safe organic body care products out there so she began making them herself.

"No chemicals no aluminum no animal products.  You could actually eat all of these products. There’s nothing in here that would harm you."

Mischievous Carrot products are already available in stores in Blacksburg and Floyd, but winning this contest means she can launch her online presence.  Her target customer?

"People just like me. Any age group from 20 to 60. People who want natural products because they want to be healthy.  The other big target for me is people who not only want to be healthy but they want to buy sustainably made products, they want to buy things that are healthy for the earth.  They’re not even necessarily thinking about themselves as much as they may be thinking about the planet and my product works really well for both."

Withington hopes to hire a part time employee and a full timer after that. And she wants to create a scholarship for a Floyd student who will study an aspect of the environment.

"When I came to Floyd – I live in a Yurt-- I live relatively simply in the woods, but every penny I saved in my life went to local contractors. So now it’s funny that it’s coming around and I have this wonderful grant to help me give back."

In our next report, we’ll hear about the 2nd and third place winners of Floyd County’s kinder, gentler  Shark Tank to help locals transform their dreams for a business of their own, into a reality.

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