The bill establishes 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 duties, 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 required to respond to inquiries from businesses within 48 hours and must submit an annual report to the Joint Standing Committee on Economic Development detailing its activities and recommendations for improving entrepreneurship in the state.

Additionally, the bill creates the West Virginia Office of Entrepreneurship Fund, which will be administered by the Secretary of State to support the office's activities. The office is authorized to generate revenue through events and services while ensuring that government liaison services remain free for entrepreneurs. The Secretary of State is also empowered to propose rules for legislative approval to implement the provisions of this article. Overall, the bill aims to enhance the entrepreneurial ecosystem in West Virginia by providing structured support and resources to businesses.

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