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Virginia business incubator gets $500,000 grant

McAuliffe's office said 757 Accelerate was one of 27 successful applications out of more than 200.
Virginia Gov. Terry McAuliffe speaks with reporters on May 24, 2016.

RICHMOND, Va. (AP) - Gov. Terry McAuliffe is announcing a new federal grant designed to help entrepreneurs in the state's southeast.

McAuliffe said Tuesday that the U.S. Department of Commerce had awarded $500,000 to 757 Accelerate, a business incubator.

757 Accelerate is a three-month project designed to help pair startups with mentors and investors.

McAuliffe's office said 757 Accelerate was one of 27 successful applications out of more than 200.

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