EDA authorizes $100,000 Year‑2 grant match for Siebel Biohub accelerator

The Albemarle County Economic Development Authority voted unanimously to authorize a $100,000 grant-match payment for Year 2 of a three-year commitment to the Siebel Biohub accelerator, a Go Virginia-funded biotech accelerator headquartered at North Fork Discovery Park.

Staff described the project as a three-year pilot to provide shared wet-lab space, specialized equipment and investor connections for biotech startups in the region. "There have been 8 companies that have officially signed on to the accelerator," staff said. The presentation also said the accelerator has secured "$15,000,000 for what happens when the 3 year pilot is done," including $7.5 million each from the University of Virginia and the Commonwealth of Virginia toward a permanent home.

Board discussion focused on the mechanics and oversight of the EDA contribution. Questions included whether the EDA’s $100,000 annual contribution is counted as grant-match, how Year 1 funds were used, whether future payments will require line-item reporting, and whether the grant match can fund operations or salaries. Staff said the Go Virginia grant did not require granular line-item reporting at signing and that the EDA contribution was intended as general support for operations and capital; that does not preclude use for staff salaries if needed.

A motion authorizing the Year 2 $100,000 payment and delegating authority to the EDA chair and treasurer to execute necessary documents was made, seconded and passed unanimously on the record. The motion notes the total three-year agreement is $300,000 and that yearly payments are subject to EDA approval.

What’s next: Staff said the authority could request a Year 1 update from the accelerator (a site visit or a presentation around February) and will continue to authorize Year 3 funding in a later session if requested by the board.