The Alexandria Economic Development Partnership announced today that Arlington-based FedTech will help launch and manage the city’s new business accelerator this summer.
AEDP received more than 20 proposals from companies to help manage 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,” AEDP said in a release. The accelerator is the first strategy outlined in the ALX Forward framework, a roadmap for Alexandria’s economic future approved by City Council in January.
“FedTech is excited to partner with AEDP to launch this program in our home region of Northern Virginia,” said FedTech founder and CEO Ben Solomon. “There isn’t a better place than Alexandria to tap into and grow the regional innovation ecosystem and to serve the entrepreneurs there.”
Last year’s federal downsizing hit Alexandria hard, with thousands of residents losing their jobs.
FedTech specializes in launching startups that focus on deep tech and dual-use technology. AEDP says the accelerator program will offer one-on-one mentorship, classroom opportunities and networking support for participating startups. Programming will also be offered at National IQ, the new innovation district in National Landing, AEDP said.
“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.”
Application deadlines are expected to be released in the coming weeks, according to AEDP, which will post updates on the accelerator on its website.
