The Fairfax County Department of Economic Initiatives (DEI) announced the selection of eight innovative startups for the second cohort of the Fairfax Founders Fund (FFF). This competitive grant program, established by the Fairfax County Board of Supervisors, is a significant component of the county's economic development strategy and Countywide Strategic Plan. The eight grant awardees were chosen because of the potential of their innovative technology solutions and demonstrated business growth opportunities.
The FFF is a grant and technical assistance program that provides critical early-stage funding of up to $50,000 to high-growth startups based in Fairfax County. It targets companies with the potential to:
- Bolster economic development by fostering innovation-driven businesses and job creation, while preparing young companies for future investment opportunities.
- Promote Fairfax County's advantages by connecting startups with local partnerships and fostering the development of competitive technology clusters within the county.
- Champion economic mobility by providing a new source of early-stage capital to high-growth businesses with diverse ownership. The program specifically targets outreach to underrepresented and diverse founders, including women, people of color, veterans, and persons with disabilities.
The eight grant recipients are:
- Karambit.AI, Annandale, VA
- PLURIBUS Inc., McLean, VA
- ZipID, Inc. , Alexandria, VA
- KAPPA AgTech , Vienna, VA
- Magna Labs Inc. , Falls Church, VA
- NanoNiFe LLC, Vienna, VA
- NIOSolutions Inc , Mclean, VA
- Saltenna LLC , Mclean, VA
"The Fairfax Founders Fund is instrumental in catalyzing the growth of our county's innovation economy," stated Rebecca Moudry, Director of Fairfax County's Department of Economic Initiatives. "By providing crucial seed funding and support, we are empowering these eight exceptional startups to transform their visionary ideas into tangible products and services. This investment not only fosters technological advancement, but also drives job creation and economic prosperity within Fairfax County."
In addition to the Fairfax Founders Fund, Fairfax County offers a robust ecosystem of support for entrepreneurs. Programs such as the Accelerate Breakfast Series provide opportunities to match startups with potential investors, while Fairfax CORE offers comprehensive resources and information to help businesses start and grow.
The eight winning companies represent a variety of industries, all showcasing emerging technologies. Each will receive a $50,000 grant to fuel their growth. An official award ceremony and celebration will be held in Fall 2024.
For more information, including program details, eligibility criteria, and future cohort information visit the Founders Fund page.