Regional Innovation Fund
Regional Innovation Fund supports Virginia entrepreneur support organizations with funding for services, resources, and infrastructure to help early-stage science and technology companies launch and grow.
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, per organization for 12–24 months
Summary: Supports Virginia entrepreneur support organizations providing services, resources, and infrastructure for early-stage science and technology entrepreneurs and ecosystems.
Key Information: All applicants must provide a 1:1 cash or in-kind match from sources not derived from 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 services, resources, and infrastructure that help early-stage science and technology founders and companies in Virginia launch, grow, and succeed. Partners include accelerators, incubators, training providers, technology councils, chambers of commerce, and other entrepreneur support organizations.
RIF supports new and emerging innovation ecosystem initiatives, programs serving underserved regions and communities, and the continuation of successful entrepreneurial support programs. Priorities include potentially high-growth companies, collaboration that leverages existing resources and minimizes duplication, and support for historically underrepresented founders. Proposals should demonstrate long-term sustainability, measurable outcomes, and effective organizational management.
