Eastern Foundry was built on the belief that innovative products and services can solve our country’s toughest challenges.
Crystal City, Va. (PRWEB) August 05, 2015
The United States Small Business Administration (SBA) yesterday announced that Eastern Foundry is among 80 winners of SBA’s second annual Accelerator Growth Fund Competition. Based in Crystal City, Eastern Foundry was awarded $50,000, and is the only accelerator that solely serves government contracting startups to win a grant. The SBA’s announcement was made in conjunction with the first-ever White House Demo Day, an event celebrating American entrepreneurship. The goal of the Accelerator Growth Fund Competition is to infuse extra capital into qualified startup ecosystems to provide greater resources and opportunities to surrounding entrepreneurship communities.
“We launched the second Accelerator Growth Fund competition to spur even greater opportunities for America’s small businesses,” said SBA administrator Maria Contreras-Sweet. “Through the wide-spread outreach of this competition, we are able to reach entrepreneurial ecosystems across the nation.”
Founded by a team of American military veterans, Eastern Foundry will use the $50,000 grant to fuel its unique government contracting marketplace that includes workspace, services, community and training to help tech startups succeed in government procurement. Since opening in December of 2014, Eastern Foundry has already filled 21,000 square feet of office space in Crystal City, Va. with 48 companies, and has facilitated new startup-to-agency and startup-to-prime connections.
“Eastern Foundry was built on the believe that innovative products and services can solve our country’s toughest challenges. Yet, government contracting is not an easy endeavor; success comes from the intersection of strong capabilities, process knowledge, professional networks and capital. We look forward to leveraging this SBA grant to better serve our members and the innovation they’re bringing to the public sector,” said Geoff Orazem, managing partner of Eastern Foundry.
About Eastern Foundry
Eastern Foundry is a first-of-its-kind marketplace where technologists, government contractors and agencies convene to exchange information, opportunities, find teaming partners and conduct business. Providing all of the resources of a modern technology incubator, Eastern Foundry offers physical workspace, services, training and information that is tailored to help large and small businesses achieve government contracting success. To learn more about Eastern Foundry, visit Eastern-Foundry.com, follow us @EasternFoundry or stop by our location in Crystal City.