This article was written by Adam Henry, CEcD, EDP, Senior Business Development Manager for Arlington Economic Development.
Last week, Arlington Economic Development (AED) opened applications for the Arlington Innovation Fund (AIF) Catalyst Grant Program.
The Catalyst Grants help increase funding for early-stage technology startups through technical assistance and non-dilutive, co-investment grants from $25,000 up to $50,000. Companies must demonstrate that they have raised a minimum of $25,000, up to $500,000. Once verified, grants will be a 1:1 match up to $50,000 for companies that have raised between $25,000 and $50,000.
Any company that has raised between $50,001 and $500,000 will receive a capped grant of $50,000. An internal committee of AED staff, supported by a third-party vendor, will evaluate all applications and award grants through a competitive process. The base qualifications for the program include the following:
- Must be a registered LLC, S-Corp or C-Corp with the Virginia State Corporation Commission and have their principal place of business in Arlington (virtual addresses and P.O. boxes NOT ELIGIBLE)
- Be a for-profit company
- Have at least one full-time employee
- Have raised a minimum of $25,000, up to $500,000, through a combination of equity investments, grants and convertible debt
- The primary source of revenue must be derived from the sale, licensure or distribution of proprietary technology
- Be current on all applicable Arlington County taxes.
Applications will remain open until October 20, 2023. For more information on the program, the application, and FAQ about the Catalyst Program, please visit the AIF webpage. If your company has questions regarding the Catalyst Grant Program, please contact the AED team at [email protected].
AED is excited to open the application and invite early-stage, Arlington-based technology companies to apply. This program aims to serve the tech ecosystem better and foster the growth of tech startups, allowing them to flourish as office users, employers and taxpayers in the Arlington community.
