June 3, 2014
Digital DC is an initiative aimed at highlighting the successes of the DC tech startup community in an effort to push its status as a leading startup ecosystem and to further encourage economic development in the District.
According to a comment posted earlier this afternoon to the DC Tech Facebook Group, Digital DC has finally published the details for the DC Tech Fund. Indeed, from the Digital DC website, it seems that the information has actually been up since yesterday, when the application process first opened up.
The Digital DC Tech Fund is a $1 million fund that will award grants between $25,000 and $250,000 to early- and growth-stage tech startups that aren’t yet ready to raise a Series A or Series B round of funding. Those chosen to receive grants are also provided with customized mentorship, training, access to various networks, capital, and other resources.
Startups that receive grants will be required to relocate to the new, designated Digital DC Tech Opportunity Corridor (between Mt. Vernon Square and Petworth) within six months of accepting the funding. Further, these companies must stay within the corridor for a period of 36 months.
Other requirements, as listed on the new website, include that the startup must be a registered business in the District, and must commit to hiring DC residents for at least 51% of new positions. Check here for all the requirements.
Applications to the Digital DC Tech Fund are open until Friday, June 20 at 5 pm Eastern Daylight Time.
Did you like this article?
Get more delivered to your inbox just like it!