Bill > SB878

This bill establishes the Office of Entrepreneurship within the Office of the Secretary of State to support businesses in West Virginia. The office will act as a central point of contact, connecting entrepreneurs, startups (businesses five years old or less), and scale-ups (businesses showing significant growth) with state agencies and organizations that offer funding, mentorship, and resources. State agencies are authorized to share information with the new office, potentially under confidentiality agreements, to help it fulfill its duties. The office is required to respond to business inquiries within 48 hours and will submit an annual report to the Joint Standing Committee on Economic Development detailing its work, findings on the state's entrepreneurial landscape, and policy recommendations. A dedicated "West Virginia Office of Entrepreneurship Fund" will be created, and the office can generate revenue through fees for certain services, though core government liaison services will remain free. The Secretary of State is authorized to create rules to implement these provisions, and the bill also defines key terms like "business," "entrepreneur," and "entrepreneurial support organization."