Early stage investor Fortify.vc will open the doors to a new business incubator program today for as many as 15 start-ups, choosing office space in the District after a $100,000 grant from the mayor’s office lured the firm away from neighboring Arlington.
The city’s economic development office has made a more concerted effort in recent months to engage the technology community in the District, which has become a burgeoning hub for start-ups with little involvement to date from city officials.
The deal came together in a matter of weeks. Fortify Founding Partner Jonathon Perrelli met with officials at the Office of the Deputy Mayor for Planning and Economic Development just a few days before Christmas to discuss a deal.
The terms of the grant require Fortify and its business accelerator, called The Fort, to operate in the District for at least the next four years. Fortify’s annual event where start-ups pitch investors for money, called Distilled Intelligence, will now be held in the District.