Department of Economic Initiatives (DEI)

Fairfax County and George Mason University have established a strategic partnership to fund the Accelerate Breakfast Series, a regularly occurring breakfast event that brings together entrepreneurs and investors for curated pitch opportunities, to support growth of the local entrepreneurial network.  The program, funded by a Fairfax County Board of Supervisors through the Economic Opportunity Reserve, will bolster Fairfax County and the region’s start-up ecosystem to drive investment to local companies.
 

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The Accelerate Smart Cities Challenge matches innovative solutions to urban challenges, then tests them in real metropolitan conditions within VA and DC. It is a six-week innovation competition to make our region smarter, more livable, resilient, and sustainable for everyone.   This challenge is one of a series of innovation challenges Fairfax County and Smart City Works are hosting, to harness the best and brightest ideas to solve today’s (and tomorrow’s) challenges. By partnering and hosting these events, Fairfax County is leading the way to identify growing issues and quickly find and test solutions.

Asoleyo is a Virginia-based innovative start up in the green energy space that is redesigning solar cells to be not only functionally effective and efficient but also aesthetically attractive. They were chosen to pilot their innovative technology solution with Fairfax County after being chosen as a Smart City Challenge award recipient. That event evaluated solutions to housing, transportation, health, energy, public safety, and other civic and social issues.

Asoleyo’ s first Fairfax-supported project will be a public private venture with the county’s Department of Economic Initiatives, and the Reston Community Center.

The Talent Up Fairfax Fund is a Fairfax County workforce incentive, supported by funds provided by Fairfax County's American Rescue Plan Act, that matches county jobseekers with Fairfax County employers seeking to quickly fill open jobs through funded internship opportunities. 

Talent Up is accepting applications now from employers and job seekers on a first-come, first-served basis. The application period will remain open until all funds allocated for work-based learning internships are filled and no later than December 31, 2024. 

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THRIVE is a technical assistance program dedicated to small business growth. Through this program businesses will receive targeted consulting services valued up to $10,000 to help them achieve unique business goals and continue their post-pandemic recovery. Fairfax County's Board of Supervisors allocated $7,000,000 from Fairfax County's share of the American Rescue Plan Act (ARPA) to fund THRIVE. The Latino Economic Development Center (LEDC) serves as the program grant administrator.

This is the third in a series of Grant programs to help Fairfax County small businesses. RISE and PIVOT grants, along with these funds, 
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The Fairfax Founders Fund provides early capital to startup companies in Fairfax County.   The fund targets early-stage technology companies with technical assistance grants of up to $50,000 to help them prepare for later stage investments. The county allocated $1,000,000 from its Economic Opportunity Reserve Fund to capitalize the pilot program. 
 
Fairfax County expects the fund will bolster economic development by growing local innovation-based businesses. It will also foster the startup ecosystem by connecting young businesses with funding, local programs, and partners. Recipients will be able to use the resources for commercialization and market entry, including but not limited to prototype development, market intelligence, or technology validation.  

Cohort 1 was completed in Fall 2023. See winner's announcement

Cohort 2 expects to announce finalists in Fall 2024

Cohort 3 will begin taking applications in late Fall 2024 or Early Winter 2025 

In late 2021,Fairfax County awarded more than $16,000,000 in PIVOT grant funds to 1,016 Fairfax County businesses adversely affected by the pandemic. Businesses in the most hard-hit sectors of the Fairfax County economy, including hotel, food service, retail and personal services, and arts and culture industries, were targeted and received grants between $1,500 and $207,000. The goal of the program was to help those businesses continue their recovery by providing needed capital for ongoing operations.

A breakdown of PIVOT grant awards by funding type, industry sector and geographic location is available on the 2021 PIVOT Business Recovery Grant Program dashboard.

Fairfax County awarded $52.5 million to more than 4800 small businesses and nonprofits impacted by the COVID-19 health crisis. The program, called RISE, offered  financial assistance grants that assisted with wages, employees’ health insurance, rent, and other fixed operating costs to help small businesses remain in business. More than 72% of the organizations receiving grants identified as small companies owned by women, minorities and/or veterans—businesses that account for one-third of jobs in Fairfax County.  This exceeded the original goal to allocate at least one-third of funds to one of those historically disadvantaged groups.  The program was funded using federal CARES Act funds provided to the County and the grants did not need to be repaid.

In 2020, Fairfax County dedicated a full-time staff person to work directly with Fort Belvoir and the Garrison Command. The liaison position supports Fort Belvoir as a strategic economic development driver in Fairfax County and drives collaboration for mutually beneficial projects. 

The DEI liaison with Fort Belvoir continues to yield significant results. Increased collaboration, communications and regular meetings have set the stage for projects that will benefit the personnel on the base as well as the surrounding Fairfax County community.