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.
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.