The bill proposes the establishment of the Office of Entrepreneurship within the Office of the Secretary of State in West Virginia, aimed at supporting and facilitating the growth of businesses, particularly startups and scale-ups. It defines key terms such as "business," "entrepreneur," "startup," and "scale-up," and outlines the office's responsibilities, which include serving as a liaison between entrepreneurs and state agencies, coordinating resources, and fostering relationships with various organizations to promote entrepreneurship. The office is also tasked with responding to inquiries from businesses within 48 hours and submitting an annual report to the Joint Standing Committee on Economic Development detailing its activities and recommendations.

Additionally, the bill creates the West Virginia Office of Entrepreneurship Fund, which will receive annual appropriations of $175,000 from the General Revenue Fund starting July 1, 2026. The Office of Entrepreneurship is authorized to generate revenue through events and services while ensuring that government liaison services remain free for entrepreneurs. The Secretary of State is empowered to propose rules for legislative approval to implement the provisions of this article. The bill emphasizes the importance of confidentiality in handling sensitive information and aims to balance accountability with the need for entrepreneurial support.

Statutes affected:
Introduced Version: 5B-2P-1, 5B-2P-2
Committee Substitute: 5B-2P-1, 5B-2P-2