Editor's note: Each year, DC Inno and the Washington Business Journal publish the Fire Awards spotlighting the founders, funders and fast-growing companies helping to power Greater Washington’s innovation economy. Click here to read our other profiles.
It’s only been a year since Arlington County launched a $1 million innovation fund to help spur entrepreneurship in the county and already it’s awarded $400,000 in grants to up-and-coming businesses. Indeed, officials have been so encouraged by the launch that they recently authorized another $250,000 for the Arlington Innovation Fund for the 2025 fiscal year.
Like similar funds rolled out in D.C. and neighboring counties in recent years, the fund’s aim is to provide capital to young companies that could eventually become bigger employers within their borders. That’s especially important in Arlington, where office vacancy rates are among the highest in the D.C. region.
Since its July 2023 launch, the innovation fund has awarded pre-seed grants, ranging from $25,000 to $50,000, to nine startups, seven of which are run by women or people of color. The recipients have included: Dispatchr, a clean technology startup that develops optimization software for cogeneration plants; and Seamless Transition, a medical device company creating a prosthetic knee that mimics the natural movement of human limbs.
To be eligible, companies had to have raised a minimum of $25,000 in outside funding and have their primary source of revenue be from the sale, licensure or distribution of their proprietary technology. They must also commit to keeping their headquarters in Arlington for two years and participate in business assessment programs.
Arlington officials say the fund’s success won’t be solely measured by how much each individual company grows. Rather, it will be graded based on the overall health of the region’s startup ecosystem and, to that end, the county is committing about one-third of its funding to programs that would benefit a broad range of founders. Case in point: It’s teaming with Citrine Angels, a local investing firm and another of our Fire awardees, on a series of workshops aimed at helping female founders hone business plans, obtain funding and scale their businesses.
Arlington Economic Development
- Director: Ryan Touhill
- Headquarters: Arlington
- Fund amount: $1.25 million
- Full-time employees: 50
- 2023 revenue: N/A
