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.