About this programme
The VIPC Launch program is powered by the Commonwealth Commercialization Fund (CCF) and gives high-potential, early-stage Virginia companies non-dilutive and dilutive capital to accelerate them toward their next stage of funding. It runs through two separate instruments: Launch Grants and Launch Notes.
Launch Grants target pre-product companies that have raised almost nothing yet, while Launch Notes target companies that already have an MVP and some customer traction, so the two tracks serve different points in a startup's life.
How it works
Launch Grants provide $50,000 per award. The company must be pre-MVP (no minimum viable product yet) and pre-revenue, cannot have raised angel or venture capital, and can only count up to $300,000 in family-and-friends funding if it was raised at least 90 days before applying. A 1:1 non-dilutive capital or in-kind match is required.
Launch Notes provide up to $150,000 per investment as a convertible note. Eligible companies have an MVP through early stage with customer traction and less than $200,000 in annual recurring revenue (ARR). Prior equity raises are capped at $750,000 (or up to $500,000 from family and friends, if raised 90+ days prior), and a 2:1 match is required that includes capital from an investment closed within the preceding 90 days.
Launch Grants are reviewed on a quarterly cycle; at the time of writing, Cycle 6 had closed and Cycle 7 was expected to open October 1. Launch Notes are accepted on a rolling basis.
Who can apply
Launch Grants: pre-MVP, pre-revenue Virginia company with no angel or VC funding raised, family-and-friends funding capped at $300,000 (if raised 90+ days before applying), and able to provide a 1:1 non-dilutive capital or in-kind match.
Launch Notes: MVP-to-early-stage Virginia company with customer traction, less than $200,000 in ARR, prior equity raises under $750,000 (or family-and-friends funding under $500,000, if raised 90+ days before applying), and able to provide a 2:1 match including capital from an investment closed in the preceding 90 days.
How to apply
- Review the Launch Grant Company Requirements, DD Score Sheet, and Grant Terms.
- Complete the application through VIPC's Launch application portal.
- Submit before the relevant deadline (quarterly for Grants, any time for Notes).
- Await review and selection notification.
Documents you’ll typically need
- Launch Grant Company Requirements
- Launch Grant DD Score Sheet
- Grant Terms
Frequently asked
What's the difference between a Launch Grant and a Launch Note?
A Launch Grant is $50,000 in non-dilutive funding for pre-MVP, pre-revenue companies. A Launch Note is up to $150,000 as a convertible note for companies with an MVP and customer traction, generating less than $200,000 in ARR.
Do I need matching funds?
Yes. Launch Grants require a 1:1 non-dilutive capital or in-kind match; Launch Notes require a 2:1 match that includes capital from an investment closed within the prior 90 days.
Can I have raised money already and still qualify?
For Launch Grants, no angel or VC money is allowed, though up to $300,000 in family-and-friends funding is acceptable if raised 90+ days earlier. For Launch Notes, prior equity raises are capped at $750,000 (or $500,000 from family and friends, if raised 90+ days earlier).
When can I apply?
Launch Grants are reviewed on a quarterly cycle (Cycle 7 was expected to open October 1). Launch Notes are accepted on a rolling basis.
Who do I contact?
launch@virginiaipc.org.
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Reviewed 2026-09-25. Programmes change, so check eligibility, amounts and deadlines on the official page before you apply. CapEasy is a private firm and is not part of any government body.