Image courtesy of AEDP
AEDP logo
The Alexandria Economic Development Partnership Monday announced that it will partner with FedTech to launch the Alexandria Business Accelerator this summer.
From a pool of more than 20 applicants, AEDP selected Arlington-based FedTech to develop and operate a high-touch cohort program for up to 15 Alexandria start-ups in high-growth sectors, including robotics, aerospace, quantum, AI, energy tech, computer services, cybersecurity and defense.
FedTech specializes in designing and operating innovation programs for federal agencies, state and local governments, prime contractors, and corporate R&D organizations. They have run more than 130 custom studios and accelerators, with 120 partner labs across the world, and their alumni companies have raised more than $5 billion in investment.
“FedTech’s deep experience and belief in this market, the local ecosystem, our region, and the opportunities here make them the ideal partner for this program,” said AEDP Senior Vice President Marian Marquez. “We’ve been thrilled with the interest in the program, and we are confident FedTech is the right partner to deliver this first round of support to our start-up community.”
“FedTech is excited to partner with AEDP to launch this program in our home region of Northern Virginia.There isn't a better place than Alexandria to tap into and grow the regional innovation ecosystem and to serve the entrepreneurs there,” said FedTech Founder and CEO Ben Solomon.
The Alexandria Business Accelerator program will focus heavily on one-on-one support will focus heavily on one-on-one support and mentorship, tailored to each start-up’s needs, while also including classroom and networking opportunities. Applications for companies to participate in the accelerator will open in the next few weeks, with the program itself beginning this summer.
The accelerator is the City’s first initiative under ALX Forward targeted at supporting entrepreneurship and innovation, and the RFP process connected AEDP to a deep bench of local, innovative companies. The accelerator will also integrate as appropriate with programming offered through National IQ, the new innovation district in National Landing.
To stay up-to-date with the accelerator and be notified when applications to participate open, please visit the AEDP website at alexandriaecon.org.
