The Alexandria Economic Development Partnership today announced that it has been awarded a $200,000 grant from the Virginia Innovation Partnership Corporation (VIPC) through the Regional Innovation Fund to expand its technology and innovation programming.
The award, announced at AEDP’s Annual Impact Event, will enhance Accelerate ALX, the City’s first accelerator for high-growth technology companies; extend innovation-focused programming through the rest of the fiscal year, including with the new National Innovation Quarter (National IQ); and grow the ecosystem around these industry sectors.
VIPC is the nonprofit operations arm of the Virginia Innovation Partnership Authority (VIPA), which was created by the Commonwealth to diversify Virginia’s economy through innovation-led initiatives. Established in 2021, the Regional Innovation Fund is a state-funded program that awards competitive grants to organizations that serve science- and technology-based entrepreneurs and ecosystems in Virginia.
AEDP will use the funds to connect founders with investor networks, educational institutions, and public and private sector stakeholders to strengthen collaboration, capital access, and commercialization opportunities in the tech industry across Alexandria and Northern Virginia.
“Through the application process for Accelerate ALX, we saw firsthand the demand for this type of programming, and this funding will help us connect more founders with the investors, partners, and the resources they need to grow.” said Philomena Fitzgerald, AEDP senior manager of strategic initiatives and innovation. “VIPC is known for their dedicated support and successful backing of innovation initiatives in Virginia, and this grant represents a meaningful vote of confidence in the work we are doing in Alexandria.”
“VIPC’s funding underscores our commitment to growing Virginia’s innovation and entrepreneurial ecosystems through regional collaboration and public-private partnership,” said Joe Benevento, VIPC President and CEO. “By catalyzing the launch of Accelerate ALX, Alexandria’s first accelerator for high-growth technology companies, we are doubling down in a strategic area of national security innovation and expanding opportunities for founders to launch and build here in Virginia.”
In early 2026 City Council officially adopted ALX Forward: A Strategic Framework for Economic Growth, the City’s first economic development strategy in more than 15 years. It focuses on three goal areas: place-based development, business recruitment and retention, and entrepreneurship and innovation.
One of the first initiatives under the entrepreneurship and innovation goal, Accelerate ALX targets high-priority technology sectors that drive both regional and national economic competitiveness. In May, AEDP selected local firm FedTech to operate the program. 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, and their alumni companies have raised more than $7.5 billion in investment.
Alexandria is uniquely positioned to become a hub for innovation due to its strategic location, strong talent pipeline, proximity to federal agencies, and growing network of investors, entrepreneurs, and research institutions, including Virginia Tech’s Institute for Advanced Computing.