Key Takeaways
- • Mayor Muriel Bowser announced more than $5 million in startup support on the first day of DC Startup and Tech Week, including $2 million in grants to three support organizations via the new Technology Ecosystem Fund and $3.15 million across seven direct startup investments through the DC Venture Capital Fund.
- • The Technology Ecosystem Fund awards, funded by $2.4 million in fiscal year 2026 budget appropriations, go to New Majority Ventures ($600,000 for two accelerator cohorts serving 55 DC-based companies), SOAR Bio ($600,000 to expand its venture studio at Children's National Research and Innovation Campus, targeting five life sciences companies), and Plug and Play ($800,000 for four cohorts over two years).
- • The DC Venture Capital Fund, launched in December 2024 with $26 million from the U.S. Treasury's State Small Business Credit Initiative, requires private co-investment at least dollar-for-dollar, creating a minimum combined pool of $52 million.
- • DC companies raised $861 million in venture capital in 2025, roughly one-sixth of the DMV's $5.4 billion total, according to Bowser's State of DC Tech report, underscoring the uneven regional distribution of capital.
- • Much of the new programming will fall under Bowser's successor, as she is not seeking reelection and her term ends in January 2027.
Summary
Mayor Muriel Bowser announced more than $5 million in funding for DC startups and accelerator cohorts on the first day of DC Startup and Tech Week. The package includes $2 million in grants to three support organizations through the city's new Technology Ecosystem Fund and seven new direct startup investments totaling $3.15 million through the DC Venture Capital Fund. Bowser also released the State of DC Tech report, which outlines the city's tech economy from workforce development to gaps in startup financing.
The Technology Ecosystem Fund's inaugural awards support three programs. New Majority Ventures, founded by investor and entrepreneur Melissa Bradley, will receive $600,000 for two accelerator cohorts serving 55 DC-based companies, offering mentorship, business development resources and connections. SOAR Bio will receive $600,000 to expand its venture studio at the Children's National Research and Innovation Campus, supporting the incubation and launch of five DC-based life sciences companies. Plug and Play, which launched its DC program in November 2025, will receive the largest award at $800,000 to operate four cohorts over two years, with participating companies receiving free office space in the Golden Triangle Business Improvement District. City lawmakers funded the program in the fiscal year 2026 budget with $2.4 million for entrepreneurial programming.
The DC Venture Capital Fund, launched in December 2024 with $26 million from the U.S. Treasury's State Small Business Credit Initiative, has made its first investments in AI, cybersecurity, aerospace and energy. According to the Washington Business Journal, the named companies are Hydden, Magma Space, Hire Nimbus, Buckstop and Orbital Sentry, with two startups still in stealth. San Francisco's Hustle Fund and New York's Lytical Ventures, working with DC-based K Street Capital, were selected as fund managers, with final approval from the district. The program is designed to prioritize underrepresented founders and explicitly focuses capital on DC proper.
The announcements come against an uneven regional backdrop. PitchBook's Venture Monitor reported that companies across the DC region raised $1.4 billion in the third quarter, with the 10 largest deals capturing nearly 80% of that total. The State of DC Tech report estimates DC's 2025 tech workforce at roughly 51,000 jobs and projects 7.9% growth through 2028, a projection that would reverse regional tech employment declines between 2024 and 2025. The report also flags a shortage of Series B and Series C capital.
Bowser, who is not seeking reelection and whose term ends in January 2027, has positioned tech as a tool for reducing the city's dependence on federal employment. DMPED's Adam Lattimore told Technical.ly that the ecosystem grants will be evaluated on jobs created and companies establishing themselves in DC, with the goal of ensuring companies remain in the city and can scale.
The Technology Ecosystem Fund's inaugural awards support three programs. New Majority Ventures, founded by investor and entrepreneur Melissa Bradley, will receive $600,000 for two accelerator cohorts serving 55 DC-based companies, offering mentorship, business development resources and connections. SOAR Bio will receive $600,000 to expand its venture studio at the Children's National Research and Innovation Campus, supporting the incubation and launch of five DC-based life sciences companies. Plug and Play, which launched its DC program in November 2025, will receive the largest award at $800,000 to operate four cohorts over two years, with participating companies receiving free office space in the Golden Triangle Business Improvement District. City lawmakers funded the program in the fiscal year 2026 budget with $2.4 million for entrepreneurial programming.
The DC Venture Capital Fund, launched in December 2024 with $26 million from the U.S. Treasury's State Small Business Credit Initiative, has made its first investments in AI, cybersecurity, aerospace and energy. According to the Washington Business Journal, the named companies are Hydden, Magma Space, Hire Nimbus, Buckstop and Orbital Sentry, with two startups still in stealth. San Francisco's Hustle Fund and New York's Lytical Ventures, working with DC-based K Street Capital, were selected as fund managers, with final approval from the district. The program is designed to prioritize underrepresented founders and explicitly focuses capital on DC proper.
The announcements come against an uneven regional backdrop. PitchBook's Venture Monitor reported that companies across the DC region raised $1.4 billion in the third quarter, with the 10 largest deals capturing nearly 80% of that total. The State of DC Tech report estimates DC's 2025 tech workforce at roughly 51,000 jobs and projects 7.9% growth through 2028, a projection that would reverse regional tech employment declines between 2024 and 2025. The report also flags a shortage of Series B and Series C capital.
Bowser, who is not seeking reelection and whose term ends in January 2027, has positioned tech as a tool for reducing the city's dependence on federal employment. DMPED's Adam Lattimore told Technical.ly that the ecosystem grants will be evaluated on jobs created and companies establishing themselves in DC, with the goal of ensuring companies remain in the city and can scale.
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