Fairfax Founders Fund Cohort #3

The Fairfax Founders Fund (FFF) is a grant and technical assistance program aimed at supporting early-stage, innovative startups in Fairfax County, Virginia. The fund provides up to $50,000 per awardee to help fuel the growth of promising companies poised to disrupt industries and create new jobs. The goal is to bolster economic development, attract venture capital investment, and foster entrepreneurship in underrepresented communities. The next application cycle for Cohort #3 will be open from March 17 through April 21, 2025. Applications, budget templates, Q&A documents, and additional resources are available for prospective applicants. Program Goals Economic Growth – Grow innovation-driven businesses in Fairfax County and prepare startups for future investment opportunities. Competitive Technology Clusters – Establish a network of partnerships to promote the county as a hub for technology and startup innovation. Economic Mobility – Expand access to early-stage capital, particularly for women, people of color, veterans, persons with disabilities, and other underrepresented founders. Eligibility Requirements To qualify for the Fairfax Founders Fund, applicants must: Be a for-profit company. Be legally registered and in good standing with the Virginia State Corporation Commission (SCC). Have their principal place of business (PPB) in Fairfax County or one of the Towns of Herndon, Vienna, or Clifton. Hold a valid Business, Professional, and Occupational License (BPOL) and be in good standing (not delinquent on tax or debt payments). Be an innovative and/or disruptive, product-focused technology enterprise. Demonstrate potential commercial value for its product. Have raised no more than $1,000,000 in startup funding (includes investments from friends and family, angel investors, venture capital firms, and private equity). Have received no more than $250,000 in gross revenue in the past 12 months. Provide a 50% funding match for the requested FFF grant amount (matching funds may include in-kind contributions, sweat equity, commercial revenue, other grants, or investor funding). Funding Priorities Fairfax County prioritizes startups in the technology and innovation sector, including underrepresented founders (women, minorities, veterans, and persons with disabilities). The fund aims to create a diverse, inclusive, and competitive business ecosystem. Application Process Application Period: March 17 – April 21, 2025. Submission Materials: Includes a full application, budget template, and supporting business documents. Evaluation Criteria: Companies will be assessed based on their growth potential, innovation, and ability to secure future investment. Award Amount: Up to $50,000 per business. Matching Requirement: 50% of the requested grant amount must be matched with additional funding sources. Additional Resources For startups that do not yet meet the eligibility criteria, Fairfax County offers alternative programs: Innovation and Commercial Assistance Program (ICAP) – Customer discovery program for early-stage companies. Virginia Ventures-Partners (VVP) Coffee Breakfasts – Networking events for entrepreneurs. Fairfax CORE – Regulatory and resource support for startups. Fairfax County Economic Development Authority – Business support and guidance. For more information or questions, applicants can contact the Department of Economic Initiatives (DEI) at EconomicInitiatives@FairfaxCounty.gov or 703-324-5171.

It is important to note that proprietary information should not be included in applications due to potential disclosure under the Virginia Freedom of Information Act.