Arlington Economic Development (AED) announced the selection of five Arlington-based startups as recipients of Catalyst Grants from the Arlington Innovation Fund (AIF). After a rigorous review process involving 22 applications, these companies have demonstrated exceptional promise in driving innovation, fostering economic growth, and addressing critical challenges in their respective industries.
The Catalyst Grants from this round, totaling $225,000, represent a significant investment in the growing tech-entrepreneur ecosystem of Arlington. The remaining $425,000 in the Catalyst Grant Program will be available for the second round of applications this month. Funds awarded through the Catalyst Grant can be used for any business operation expenses incurred by the startup and may include adding employees, purchasing equipment, leasing office space, hiring consultants or advisors, and more.
The five grantees and their respective technology verticals are:
* Dispatchr Technologies, LLC (Cleantech)
* Freely Payments, LLC - (Fintech)
* GenLogs Corporation (Artificial Intelligence)
* Phalanx AI, Inc. (Cybersecurity)
* Seamless Transition (Medical Devices)
These companies were selected based on their executive and technical capabilities, as well as their potential for revenue growth and societal impact.
"We are excited to support these innovative companies in their startup journey as they launch, scale and advance out-of-the-box solutions right here in Arlington," said Michael Stiefvater, Director, Business Investment Group.
Applications for the second cohort of Catalyst Grants opened Feb. 5, 2024, and close on March 10, 2024. Visit the AED website for more information about the Arlington Innovation Fund and/or to apply for the next round of funding.
Inaugural Cohort of Grantees.
Dispatchr is a Cleantech company that develops optimization software for cogeneration plants. Freely is a Fintech company that empowers vendors and suppliers to accept credit card payments. GenLogs is an artificial intelligence company that optimizes ground freight supply chains. Phalanx AI is a cybersecurity company specializing in lightweight data loss prevention and document mapping solutions. Seamless Transition is a medical device company creating a prosthetic knee that mimics the movement of natural human limbs.
For more information on Arlington’s tech ecosystem, please visit the AED website or contact aif@arlingtonva.us.