The Virginia Innovation Partnership Corp. said earlier this month it awarded $75,000 from the Commonwealth Commercialization Fund to Grantable, a Richmond firm that offers a grant writing platform powered by artificial intelligence.
The grant will be used to continue to develop and refine Grantable’s software and support the company’s participation in upcoming tech conferences. The platform is marketed as a time-saving measure for grant writers, as it automatically completes parts of applications. Its use has been promoted by professional associations for grant writers, according to The New York Times.
CEO Philip Deng was inspired to found Grantable in 2020 following his personal experience working as nonprofit founder who came up short on grants. He said Grantable’s prototype platform helped capture more than $1 million in early funding in its first year. He has taken the company through startup programs with Lighthouse Labs and Startup Virginia. Deng brought on Robert Lee as a co-founder and chief technology officer in early 2022 as the company was branching out to connect grant-seeking organizations with grant writers.
Grantable also received $75,000 from VIPC last year.
The Commonwealth Commercialization Fund awards grants to small businesses and university-based innovators on a rolling basis. Its private sector program focuses on early-stage tech companies exhibiting high potential. Its grants typically fund early tech and market validation efforts, including prototype development, pilot projects and intellectual property protection. More than $51 million has been distributed from the Commonwealth Commercialization Fund since 2012.
