The Arlington Economic Development (AED) is excited to announce the Arlington Innovation Fund (AIF) Catalyst Grant Program.
Donor Name: Arlington Economic Development (AED)
State: Virginia
County: Arlington County (VA)
Type of Grant: Grant
Deadline: 10/20/2023
Size of the Grant: $25,000 and $50,000
Details:
The Catalyst Grant Program is a tool to help increase funding for early-stage technology startups through technical assistance and non-dilutive, co-investment grants to help companies extend their runway of funding and gain access to larger venture capital rounds to expand their customer base, employment, and operations.
Funding Information
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 at $50,000.
Uses of funds
Funds awarded through the Catalyst Grant can be used for any business operation expenses incurred by the startup. Examples include machinery and equipment, office supplies, hiring consultants or advisors, purchasing of services, and tenant upgrades to commercial office space.
Eligibility Criteria
- Must be a registered LLC, S-Corp or C-Corp, with the principal office address in Arlington according to the Virginia State Corporation Commission (virtual addresses and P.O. boxes are NOT ELIGIBLE)
- Must be a for-profit company
- Must have at least one full-time employee
- Primary source of revenue must be derived from the sale, licensure or distribution of proprietary technology
- Must be current on all applicable Arlington County taxes.
Grant Award Selection Criteria
- An internal committee of AED staff, supported by a third-party vendor, will evaluate all applications for the Arlington Innovation Fund’s Catalyst Grant Program. Only selected companies that meet the base qualifications of the program will be asked to proceed to the next evaluation stage.
- At the request of County staff and the third-party vendor, applicants may be required to provide additional information prior to funding an award.
- Applications are assessed on factors, including but not limited to:
- Experience of the company’s leadership
- Strength of the business model
- Funding potential
- Proof of concept
- Potential for growth
- Return on investment to Arlington County
- Any business not classified as a technology company will not be considered. For the purpose of this program, a technology company is classified as a business whose primary source of revenue is derived from the sale, licensure or distribution of proprietary technology.
- Catalyst Grant Program funds are awarded to a company at the County’s discretion and are based on the recommendations of the internal review committee and third-party vendor.
- By applying, companies agree to have their company logo, company name, and founder information available to share with the public via Arlington Economic Development’s website, promotional materials, and social media handles. Additionally, companies agree to have their information included in any press releases applicable to the Arlington Innovation Fund.
- Arlington Economic Development will not share confidential or sensitive information provided by the company.
For more information, visit AED.
