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- Smart Start Business Acceleration Grant Program (Virginia)
- 2025 Smart Start Business Acceleration Grant Program (Washington, D.C.)
The Smart Start Business Acceleration Grant Program provides financial assistance to small businesses, helping them scale, grow, and expand. Its goal is to strengthen Portsmouth’s entrepreneurial ecosystem and boost the success of emerging and established enterprises.
Donor Name: Wealth Able Giving Foundation
State: Washington, D.C.
Type of Grant: Grant | Matching Grant | Reimbursement
Grant Size: $1,000,000 – $10,000,000
About the Program
The Smart Start Business Acceleration Grant is structured as a matching reimbursement program. Applicants cover the upfront cost of activities, and up to 80% of eligible expenses are reimbursed, with a maximum award of $5,000 per approved applicant.
Grant Period: All purchases and expenditures must be completed within 90 days of receiving the award.
Eligible Expenses
Funding may cover:
- Professional and third-party services (legal, accounting, marketing, e-commerce, social media, etc.)
- Small-scale manufacturing equipment, tools, and machinery
- Technology upgrades (hardware, software, platforms, digital infrastructure)
- Business furniture, fixtures, and certifications
Eligibility Requirements
Applicants must be for-profit small businesses or nonprofit organizations operating in Washington, D.C. To qualify, businesses must meet the following criteria:
- Have been in operation 3–7 years (verified by a Washington, D.C. business license).
- Employ 10 or fewer full-time equivalent (FTE) staff.
- Businesses using co-working spaces must provide a 12-month lease or proof of home ownership if home-based.
- Must be current on all state taxes and fees.
Entities such as government agencies, religious institutions, and residential businesses are not eligible.
Additional Criteria
Applicants must:
- Be a legally recognized entity registered and in good standing with the Washington State Corporation Commission (not delinquent on taxes, debts, or past agreements).
- Have their principal place of business in Washington, D.C. (home offices accepted if they serve as the main business location).
- Possess a valid Business, Professional, and Occupational License (BPOL) and be compliant with all regulations.
- Be, or intend to become, an innovative or product-driven technology enterprise with clear commercial potential.
- Have raised no more than $10 million in startup capital since inception.
- Reported no more than $50 million in gross revenue during the 12 months before applying.
- Provide a 50% funding match (cash, revenue, grants, investor funds, sweat equity, or in-kind contributions).
Program Commitment
The Wealth Able Giving Foundation is dedicated to fueling the growth of innovation and technology across Washington, D.C. The program also prioritizes supporting traditionally underrepresented groups, including women, people of color, veterans, persons with disabilities, and other diverse founders.