Eastern Foundry, a new incubator for tech startups that want to work with the government, is set to officially open its doors tomorrow. The 21,000-square-foot space, which is located in Crystal City, soft-launched in early November and already has nearly 30 companies as members, says Geoff Orazem, the incubator's CEO and founder.
"We're a niche incubator," Orazem states. "We have all the resources that small government contract shops would need to succeed."
Physically, Eastern Foundry offers 70 offices spread over its Arlington office space, which start at $500 per month. That monthly rate includes phone, Internet, conference room hours, lunch-and-learn programming and access to Eastern Foundry's community of mentors. "We also have liberal use of another 40,000 square feet of event space," Orazem says, which will be dedicated to public and private events such as fundraisers. The incubator is also working to create separate, secure space for contractors working on classified projects.
Orazem touts the incubator's community as one reason for small contractors to rent office space at Eastern Foundry. "Our business developed out of our own frustration," he says. "We didn't have the information we needed" to win and execute government contracts or to navigate specific government processes contractors can run up against, like
a bid protest or the process for getting on the
GSA schedule. "Besides the informal knowledge sharing [that happens over lunch], we’re holding events and classes [to share knowledge among community members]."
Orazem hopes the incubator will become a "one-stop shop for vendors looking for qualified, vetted [private-sector] companies" to fulfill contracts. "Two of our members—one in cybersecurity and the other in the UAV [unmanned aerial vehicle] space are in the private sector," he says, "but they belong in the government pipeline. [Those companies] are sitting in a space where government contracting is the lunchtime conversation, and they can get smart about the process," with close proximity to D.C.
Eastern Foundry plans to open satellite locations, possibly in the District proper, in Tysons, and in Maryland, by late summer 2015.