VIPC Launch Program – Grants and Convertible Notes
VIPC Launch Program – Grants and Convertible Notes supports early-stage Virginia startups with funding for product development and commercialization to advance innovation and prepare for further financing.
Funder: Virginia Innovation Partnership Corporation
Due Dates: October 30, 2026, noon EST (Launch Grant Cycle 7) | April 30, 2027, noon EST (Launch Grant) | Rolling (Launch Notes)
Funding Amounts: Launch Grants: $50,000 with 1:1 match; Launch Notes: up to $150,000 with 2:1 match
Summary: VIPC Launch supports early-stage Virginia startups commercializing innovation through non-dilutive grants and convertible notes.
Key Information: Companies must commit to Virginia for three years; relocation can trigger repayment or other financial penalties.
Description
The Virginia Innovation Partnership Corporation’s Launch program bridges early funding gaps for high-potential companies in Virginia. Powered by the Commonwealth Commercialization Fund and administered through Virginia Venture Partners, it supports commercialization of innovation with strong potential for economic impact in the Commonwealth. Funding is intended to accelerate companies toward their next stage of financing.
Launch offers two distinct routes: competitive, non-dilutive grants for pre-minimum viable product (pre-MVP) companies, and dilutive convertible notes for companies progressing toward MVP and early customer traction. Grants support MVP development at the earliest stages of company formation. Notes can provide a next step for previous Launch Grant recipients or an initial entry into VIPC’s direct capital investments.
