E-Newsletter

Korean Business Delegation Visits Fairfax County + Weekly Business News Digest

FCEDA Welcomes Representatives from Daejeon Metropolitan City, Korea to Tysons

(FCEDA photo.)

Fairfax County Economic Development Authority (FCEDA) was honored to host a delegation from South Korea led by Vice Mayor Ho-Jong Chang from Daejeon Metropolitan City, a thriving center for innovation fostering the growth of technology-driven startups, especially in the aerospace and quantum industries. Victor Hoskins, president and CEO of the Fairfax County Economic Development Authority, and Vice Mayor Chang signed a letter of support to strengthen the competitiveness of both Daejeon Metropolitan City and Fairfax County business ecosystems in various strategic sectors through innovative and sustainable partnerships.

“We are excited to work with Daejeon Metropolitan City to grow Fairfax County’s economy and support the success of Korean companies here,” said Hoskins.

With a population of nearly 1.5 million, Daejeon is South Korea’s fifth-largest metropolis. Daejeon is home to 23 universities and colleges, including Korea Advanced Institute of Science and Technology (KAIST) and Chungnam National University, government research institutes, and research and development centers.

FCEDA has served as a go-to resource for South Korean companies interested in expanding into the U.S. market since 2004. FCEDA offers soft-landing services such as connections with Korean incubators here in the U.S.; site location and business development assistance; and connections with government agencies to help Korean companies locate and expand here.

More than 65 Korean companies currently maintain a presence in Fairfax County, including StarKist, STraffic, Hanwha Defense USA, Golfzon, and Korean Aerospace Industries. Fairfax County is home to the third-highest concentration of Korean Americans in the U.S., which also makes it an ideal choice for Korean businesses planning to enter the U.S. market.


Accelerate Breakfast Series January 2025 Applications Now Open

Applications are now being accepted for the first Accelerate Breakfast Series event of the New Year, to be held on January 24, 2025 at MITRE in Tysons. The special guest speaker will be Dr. Gregory Washington, President of George Mason University. Early-stage companies in the greater Washington, D.C. region seeking seed funding between $500,000 and $2 million are encouraged to apply by November 22, 2024.

Click here for more information or to submit an application.

“The Accelerate Breakfast Series has become a vital connector in our region’s entrepreneurial ecosystem,” said Dave Harvey, Executive Director of the program. “We’re particularly excited to discover the next wave of innovative companies that will help shape the future of the DMV area’s technology landscape.”

Selected companies will receive:

  • Opportunity to pitch to over 100 investors and business leaders
  • Professional pitch coaching and preparation support
  • Valuable feedback from an experienced investor panel
  • Networking opportunities with key stakeholders in the DMV region

Eligible companies must:

  • Be located in Virginia, Maryland, or Washington, D.C.
  • Be actively seeking seed-stage capital ($500,000 – $2 million)
  • Have a scalable technology-focused business model

There is no cost to apply or present. Applications from historically underserved groups and minority entrepreneurs are especially encouraged. For more information about the Accelerate Breakfast Series or to discuss sponsorship opportunities, please contact Dave Harvey at dave@harveygc.com.


Weekly Business News Digest

Key hub for connections: United Airlines is adding more domestic flights out of Washington Dulles International Airport this year than any of its other airports, and it’s not just due to heightened demand from travelers who live and work in Greater Washington, reported Washington Business Journal. By the end of this year, United will have added nonstop flights to 13 new destinations from Dulles, including to previously unserved destinations such as Anchorage, Alaska, Palm Springs, California and Greensboro, North Carolina. Increasingly, executives at the Chicago-based United Airlines Holdings view Dulles as one of its key hubs for domestic and international passenger connections.

Safeguarding space assets: Tysons-based Booz Allen Hamilton‘s corporate venture capital arm, Booz Allen Ventures, has made a strategic investment in Seattle-based satellite servicing company Starfish Space. This is the third space-focused investment by Booz Allen Ventures and reflects the growing criticality and varied mission needs of the space domain. “As dynamic space operations become increasingly critical to the Department of Defense, NASA, the intelligence community, as well as commercial entities, advancements in satellite servicing and orbital logistics are imperative to safeguarding space assets and enabling long-term mission success,” said Chris Bogdan, executive vice president at Booz Allen and leader of the firm’s space business. “Continued strategic investments in companies like Starfish Space are critical to help drive the development of vital technologies for sustainable operations and strengthen the nation’s ability to navigate and secure an increasingly congested space environment.”

Grabbing the keys: Herndon-based Tyto Athene, a federal systems integrator of mission-focused digital transformation solutions, and portfolio company of Arlington Capital Partners has completed its acquisition of Chantilly-based Key Solutions, a firm providing expert bid and proposal development consulting and support. “This acquisition represents a strategic step forward in our mission to be the premier provider of secure technical solutions, ensuring information dominance for our public sector customers,” said Dennis Kelly, CEO of Tyto Athene. “By integrating KSI’s industry-leading expertise into our bid and proposal center, we are poised to accelerate growth and strengthen our position as a leader in the market.”

AI Safety: Falls Church-area based General Dynamics Information Technology has joined the National Institute of Standards and Technology’s Artificial Intelligence Safety Consortium, according to ExecutiveBiz. GDIT’s contributions as a member of the consortium include supporting the development of new standards that address AI risks, providing technical expertise to support the development, deployment, transparency and evaluation of AI technologies, and assessing large language models and analyzing training data using the Luna AI Digital Accelerator.

Game-changer: Tysons-based Qubrid AI and California-based Supermicro are working together on an advanced line of AI server appliances that cut-down the time for enterprises to get started and scale with AI, according to a Qubrid AI announcement. Powered by Supermicro’s leading GPU sever hardware, NVIDIA GPUs and Qubrid AI’s AI Controller Software, this on-prem solution empowers businesses to rapidly develop, fine-tune, and deploy Generative AI and traditional deep learning models with ease and efficiency. “Collaborating with Supermicro allows us to deliver state-of-the-art AI infrastructure that is both accessible and effective,” said Pranay Prakash, CEO at Qubrid AI. “These plug-and-play appliances are a game-changer for companies looking to leverage AI technology quickly and efficiently.”

A commanding share of local company participation: U.S. Space Command is expanding its commercial intelligence-sharing initiative, adding five new companies to a program that helps coordinate responses to space threats and satellite anomalies, according to SpaceNews. The Commercial Integration Cell (CIC), established in 2015, will now include Herndon-based Blacksky; Kratos, which has Chantilly and Arlington locations; LeoLabs, which has offices in Chantilly; Iceye and Telesat. Herndon-based radio-frequency satellite data provider Hawkeye 360 and Reston-based space tracking specialist Exoanalytic Solutions are expected to join in the coming weeks. Longstanding CIC members include Eutelsat America, Hughes Network Systems, Intelsat General Communications (Tysons), Iridium Communications (Tysons), Maxar Technologies (offices in Chantilly and Herndon); SES Government Solutions (Tysons), SpaceX, Viasat, and XTAR.

A pragmatic move: Tysons-based Integral Federal, a company that offers national security services, has completed the acquisition of Reston-based information technology services provider Pragmatics. The company said the strategic move aims to enhance its capability to provide customers with mission-critical operations support. With the acquisition, Integral Federal will integrate the company’s Agile development, DevSecOps in the cloud and other digital services with its own capabilities. The company will also leverage Pragmatics’ 40-year experience in building relationships with federal agencies to further its growth in the government sector, especially in the national security space, reported GovConWire.

They grow up so fast: Tysons is transforming so fast that the Fairfax County government has created an online tool for people to track their growth, wrote Jared Wenzelburger in a Fairfax County Times. According to the Tysons Tracker, an interactive platform providing data, analysis, and updates about new community developments, over a dozen mixed-use developments have been approved across Tysons, according to the article, which provides details of the currently approved projects.

Resilient digital infrastructure: Tysons-based Intelsat has been awarded the prestigious Africa Sustainable Futures award delivered by the Financial Times and the World Bank Group’s Multilateral Investment Guarantee Agency (MIGA), in the “Digital Infrastructure” category, SatelliteProme reported. This recognition highlights Intelsat’s recent innovative satellite broadband project in Burkina Faso, which has significantly enhanced the country’s telecommunications resilience. “We are honored to receive this award,” said Rhys Morgan, regional vice president, EMEA, Media and Networks at Intelsat. “This recognition underscores our commitment to providing innovative and reliable connectivity solutions that make a real difference in people’s lives. We look forward to continuing our work in Burkina Faso and other regions in need of resilient digital infrastructure.”

Taking calculated risks: Warren Thompson, CEO of Reston-based Thompson Hospitality, is profiled in The Darden Report, published by The University of Virginia’s Darden School of Business, on how taking calculated risks enabled him to build a $1 billion business enterprise. During an interview about his business philosophies, entrepreneurship and leadership, “a theme emerged again and again of taking aggressive-but-smart chances that lead to bigger successes and more opportunities,” according to the article. Thompson Hospitality owns more than 70 restaurants, provides contract food-service and facilities management services to higher education and corporate partners. A Darden alumnus (MBA ’83), Thompson is president and chairman of the board.

Beacon of hope: Herndon-based Beacon announced the 14 grand-prize winners of its annual Beacon of Hope program on Veteran’s Day, an initiative aimed at honoring Veterans throughout North America for their service by supporting them with a brand-new roof, free of charge. Together with local roofing companies, Beacon will deliver and facilitate 14 roof replacements for Veteran and Gold Star Family homes, and community buildings serving Veterans.  Now in its sixth year, the program is open to all military Veterans in the U.S. and Canada Since launching the program in 2018, Beacon has installed over 50 roofs that helped our Veterans gain confidence and pride in their homes. “At Beacon, we’re committed to giving back, especially to the Veterans who have bravely served our country,” said Jamie Samide, VP of Marketing, BeaconClick here to read more.


Notable Contracts

General Dynamics Information Technology (Falls Church area) secured a $5.57 billion U.S. Air Force contract to support mission partner environment operations. GovConWire

Northrop Grumman (Falls Church area) received $540.9 million in funding from the U.S. Missile Defense Agency to support the company’s development of the Glide Phase Interceptor, a technology to detect and intercept hypersonic weapons. GovConWire


FCEDA Hosted and Sponsored Events

November 19-Benefits of Committing to Sustainability: The Experience of Climate First Bank.
Register for the fall Green Business Partners webinar, Tuesday, Nov. 19 at 12 p.m.. Attendees will learn how a strong corporate commitment to fighting climate change can generate an edge in the marketplace when it comes to attracting and
retaining customers, employees, and investors. Climate First Bank’ s Executive Vice President and Chief of Staff, Chris Cucci, will talk about their path in standing up a sustainability-driven and climate-branded company and how some of the business benefits accrue to their customers as well. Click here to register and learn more.

December 6 — Virginia Economic Summit and Forum on International Trade. The Virginia Chamber Foundation and Virginia Economic Development Partnership are pleased to present the 2024 Virginia Economic Summit and Forum on International Trade. Attend this event to hear from Virginia candidates in the 2025 governor’s race on their priorities for keeping Virginia as the best state for business. Hear from business and economic development leaders from across the Commonwealth on Virginia’s business climate and economic competitiveness. Click here for more information and to register.

December 10 — Tech100 Celebration. The Northern Virginia Technology Council Tech100 Celebration honors the top companies and leaders in the National Capital Region technology community. As Innovators Assemble for an epic evening, NVTC will honor the trailblazing tech companies, visionary tech executives, and NextGen champions of Northern Virginia’s tech universe at the Hilton McLean, Tysons. Click here for more information and to register.

December 16 — CONNECTpreneur Holiday Networking and Pitch Extravaganza. CONNECTpreneur is a bi-monthly networking mashup, which has been attended by 25,000+ business leaders over the past 13 years. Program Highlights include a dedicated session for companies to showcase their groundbreaking ideas and innovations to a captivated audience of investors and industry experts. Click here for more information and to register.

January 22, 2025. Tech & Cyber Networking and Hiring Event: Experienced Professionals and Cleared Talent. Presented by FCEDA at Capital One Hall in Tysons. Save the date! Information and registration coming soon!

January 23, 2025. Tech & Cyber Networking & Hiring Event: Internships and Entry-Level Talent. Presented by FCEDA at Capital One Hall in Tysons. Save the date! Information and registration coming soon!


FCEDA is Here to Help Your Business Thrive

Fairfax County EDA is here to connect businesses of all kinds to resources and information. For direct assistance, email the FCEDA at info@fceda.org, or call 703-790-0600. If you have company news or announcements to share, email FCEDA at News@fceda.org.