Regional Innovation Fund
Regional Innovation Fund supports entrepreneur-support organizations with programs and infrastructure that help Virginia’s early-stage science and technology companies launch, grow, and succeed.
Funder: Virginia Innovation Partnership Corporation
Due Dates: Rolling (proposals accepted year-round)
Funding Amounts: Track 1: up to $50,000 for 1–12 months | Track 2: $50,000–$500,000 per year for 12–24 months
Summary: Supports organizations providing programs and ecosystem infrastructure for Virginia-based science and technology entrepreneurs.
Key Information: All applicants must demonstrate a 1:1 cash or in-kind match from sources other than state general funds.
Description
The Regional Innovation Fund (RIF) is a state-funded competitive grant program administered by the Virginia Innovation Partnership Corporation’s Entrepreneurial Ecosystems Division. Launched in March 2021, it strengthens the infrastructure and programs that help early-stage science and technology companies in Virginia launch, grow, and succeed. Partners include accelerators, incubators, training providers, industry associations, chambers of commerce, and other entrepreneur-support organizations.
RIF supports new and emerging initiatives as well as existing infrastructure and successful programs. It prioritizes potentially high-growth companies, collaboration that leverages existing resources and minimizes duplication, and support for historically underrepresented founders and underserved communities. Applicants are assessed on long-term sustainability, measurable outcomes, organizational capabilities, and stakeholder support. Current guidelines are effective July 1, 2026.
