Arlington Innovation Fund Announces Inaugural Startup Grantees
February 5, 2024 | By MEDIA CONTACT: Destiny Esper, 703-228-0854, desper@arlingtonva.us
Arlington Economic Development (AED) is thrilled to announce the selection of five Arlington-based startups as recipients of Catalyst Grants from the Arlington Innovation Fund (AIF). After a rigorous review process involving 22 applications, these companies have demonstrated exceptional promise in driving innovation, fostering economic growth, and addressing critical challenges in their respective industries.
The Catalyst Grants from this round, totaling $225,000, represent a significant investment in the growing tech-entrepreneur ecosystem of Arlington. The remaining $425,000 in the Catalyst Grant Program will be available for the second round of applications this month, further underscoring AED’s commitment to supporting local innovation and fostering economic resilience. Funds awarded through the Catalyst Grant can be used for any business operation expenses incurred by the startup and may include adding employees, purchasing equipment, leasing office space, hiring consultants or advisors, and more.
The five grantees and their respective technology verticals are as follows:
These companies were selected based on their executive and technical capabilities, as well as their potential for significant revenue growth and societal impact.
“We are excited to support these innovative companies in their startup journey as they launch, scale and advance out-of-the-box solutions right here in Arlington,” said Michael Stiefvater, Director, Business Investment Group. “Their dedication to innovation and entrepreneurship aligns with Arlington’s vision as a leading technology hub offering a dynamic and inclusive business environment for startups.
Applications for the second cohort of Catalyst Grants open Feb. 5, 2024, and close on March 10, 2024. For more information about the Arlington Innovation Fund and/or to apply for the next round of funding, please visit www.arlingtoneconomicdevelopment.com/aif.