![]() The review and selection process includes three components: Matching funds may include in-kind contributions, sweat equity, commercial revenue, other grant funding and/or investor funds.įairfax County is seeking to support and invest in the growth of its innovation and technology sector, including with traditionally underrepresented and diverse groups, such as women, people of color, veterans, persons with disabilities, and other underrepresented founders. Demonstrate a match of 50% of its requested FFF grant amount, to be expended during the grant period of performance.Have received no more than $250,000 gross revenue in the 12 months preceding the date of application.Startup funding includes founder investments, grants, commercial revenue (since company inception), and investments from “friends and family,” angels, and venture capital firms. Have raised no more than $500,000 of startup funding.Be able to articulate the potential commercial value of its product.Be or intend to become an innovative and/or disruptive product-focused technology enterprise.“In good standing” means the applicant must not be delinquent in any tax or debt payments or otherwise in material breach of any previously-existing agreements with Fairfax County or the Commonwealth of Virginia. Have a valid Business, Professional, and Occupational License (“BPOL”) issued by Fairfax County or one of the Towns of Herndon, Vienna, or Clifton, and be in good standing.The applicant’s PPB may be a home office, so long as the home office functions as the PPB. Have its principal place of business (“PPB”) Fairfax County or one of the Towns of Herndon, Vienna, or Clifton.Be a legally-existing entity registered and in good standing with Virginia’s State Corporation Commission (“SCC”) to do business in the Commonwealth of Virginia.To be considered for a grant from the Fund, applicants must be for-profit companies that meet the following eligibility requirements: The second application period is expected to open in late Fall 2023. ![]() Applications for the first FFF grant cohort will be accepted by Fairfax County between April 10, 2023, and May 22, 2023. It is anticipated that approximately $500,000 of the grant funds will be expended with the first cohort. There will be a minimum of two cohorts for the program. There will be targeted marketing of FFF to underrepresented and diverse founders, such as women, people of color, veterans, persons with disabilities, and other underrepresented groups. Foster economic mobility by providing a new source of early-stage capital to Fairfax County businesses with high growth potential and ensuring that these funds are broadly accessible to entrepreneurs of all backgrounds. ![]()
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