Photo courtesy of AEDP
AEDP President & CEO Stephanie Landrum addresses attendees Sept. 30 at the Annual Impact Event.
The Alexandria Economic Development Partnership has won a $200,000 state grant to expand its programs for technology startups. The money will go toward connecting founders with investors, universities and government partners.
AEDP announced the award Wednesday at its Annual Impact Event. The grant comes from the Virginia Innovation Partnership Corporation through its Regional Innovation Fund.
Who it's for
The grant mainly benefits high-growth technology companies: startups building products with the potential to scale quickly, especially in areas tied to national security. For those founders, AEDP says the money will help with three things:
- Finding investors: meeting people who fund young tech companies.
- Building partnerships: connecting with universities, government agencies and established companies.
- Getting products to market: turning research and ideas into products people buy, known in the industry as commercialization.
Accelerate ALX is free and takes no equity. To qualify, startups must be incorporated and based in Alexandria, hold a current city business license and work in a high-growth tech field such as AI, cybersecurity, defense, quantum, energy, aerospace or robotics. Applications for the 2026 cohort closed in July; the program runs through December. Founders interested in future cohorts can contact the team at AccelerateALX@fedtech.io.
What the money pays for
Most of the funding supports Accelerate ALX, the city's first accelerator for high-growth tech companies. An accelerator is a structured program that gives a group of startups mentoring, connections and training over a set period, usually aimed at helping them raise money and grow faster.
AEDP picked Alexandria-based FedTech in May to run the program. FedTech designs innovation programs for federal agencies, state and local governments, defense contractors and corporate research groups. According to AEDP, FedTech has run more than 130 accelerators and similar programs, and companies that went through them have raised more than $7.5 billion in investment.
The grant will also extend AEDP's innovation programming through the rest of the fiscal year, including work with the new National Innovation Quarter, known as National IQ. is a multi-sector innovation district spanning Alexandria and Arlington in the National Landing area. Launched on February 11, 2026, it operates as a 501(c)(6) nonprofit organization designed to unite national security priorities with emerging technology. [1, 2, 3]
Demand was there
Philomena Fitzgerald, AEDP's senior manager of strategic initiatives and innovation, said applications for Accelerate ALX showed how much local founders want this kind of help.
“This funding will help us connect more founders with the investors, partners, and the resources they need to grow,” Fitzgerald said.
Joe Benevento, president and CEO of VIPC, called the program a strategic bet on national security innovation. He said the investment expands “opportunities for founders to launch and build here in Virginia.”
The bigger picture
The accelerator is one of the first projects under ALX Forward, the economic development strategy the City Council adopted in early 2026. It is the city's first new economic development strategy in more than 15 years. The plan focuses on three areas:
- developing specific neighborhoods and sites
- recruiting and keeping businesses
- encouraging entrepreneurship and innovation
AEDP argues that Alexandria is well placed to become an innovation hub because of its location near federal agencies, its talent pool and its growing network of investors and research institutions. That network includes Virginia Tech's Institute for Advanced Computing.
About the funders
VIPC is the nonprofit operating arm of the Virginia Innovation Partnership Authority, which the state created to diversify Virginia's economy. Its Regional Innovation Fund, launched in 2021, awards competitive grants to organizations that support science- and technology-based entrepreneurs in Virginia.
