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ALEXANDRIA, Va. — The Alexandria Economic Development Partnership has selected FedTech to develop and operate the new Alexandria Business Accelerator, with the program set to launch this summer.
AEDP chose the Arlington-based firm from a pool of more than 20 applicants to run a high-touch cohort program for up to 15 Alexandria start-ups in high-growth sectors, including robotics, aerospace, quantum, artificial intelligence, 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 research and development organizations. The company has run more than 130 custom studios and accelerators with 120 partner labs around the world, and its 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," AEDP Senior Vice President Marian Marquez said. "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 Founder and CEO Ben Solomon said the company is eager to work in its home region.
"FedTech is excited to partner with AEDP to launch this program in our home region of Northern Virginia," Solomon said. "There isn't a better place than Alexandria to tap into and grow the regional innovation ecosystem and to serve the entrepreneurs there."
The accelerator will focus heavily on one-on-one support and mentorship tailored to each start-up's needs, while also offering classroom instruction and networking opportunities. Applications for companies to participate will open in the coming weeks.
The accelerator is the city's first initiative under ALX Forward aimed at supporting entrepreneurship and innovation. The program will also integrate where appropriate with offerings from National iQ, the new innovation district in National Landing.
More information and application updates are available at alexandriaecon.org.
