Regional Innovation Fund
The Regional Innovation Fund (RIF) is a state-funded program that awards competitive grants for operating and programmatic support to Virginia-based entrepreneurial support organizations (ESOs) that serve science and technology-based enterprises and ecosystems.
Total Annual Funding Available through Program
$2,000,000
Average Award Size
$100,001 - $500,000
Eligible Applicants
Business/Small Business
Unit of Government
Non-Profit
Eligibile Areas
All areas in Virginia are eligible
Application Interval
Ongoing
Time of Year Accepting Applications
Rolling application window
Grantor Contact Information
Phone:
Email: RIF@VirginiaIPC.org
Funding Program
Economic Development
Small Business Development
Additional Information
RIF grant eligibility is limited to entrepreneur support organizations (ESOs) that are: Headquartered, or maintain a significant operating presence, in Virginia, Have a track record of supporting Virginia-based startups, Meet at least one of the following two criteria: Have successfully executed GO Virginia grants supporting science and technology-based entrepreneurship and ecosystem development in Virginia, OR Have actively collaborated with the VIPC Commercialization, Entrepreneurial Ecosystems, Investment, and Strategic Initiatives divisions. Additionally, all awardees must demonstrate a 1:1 funding match, meaning that for every dollar of requested RIF funding, the applicant will have funding of at least $1.00 coming from non-state sources.