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Glendale awards $1M grant to FoundersBoost Collaborative, SmartGateVC
San Fernando Valley Oct 22, 2024
| Photo courtesy of Glendale Tech
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To further build its tech startup ecosystem, the City of Glendale announced programs led by FoundersBoost and SmartGateVC LLC as the recipients of a $1 million grant from the Governor’s Office of Business and Economic Development (Go-BIZ), secured by California State Senator Anthony Portantino for tech startup growth programs.
This program marked the second occasion on which the city awarded grants to tech accelerators. In 2019, the City of Glendale received a $1 million state grant. As part of this agreement, the city issued a request for proposals and allocated the funds to KidsX from the Children’s Hospital of Los Angeles (CHLA) and Hero House, which were selected as the final two accelerator operators. Since then, Hero House and KidsX have successfully nurtured a pipeline of startups in the region, laying a strong foundation for future initiatives.
Grant Proposal Process
Earlier this year the city invited qualified respondents to submit a proposal to be considered as grant recipients for the operation and program management of a tech startup accelerator, incubator, startup studio, or similar tech-Startup Growth Program to be in Glendale. A total of 17 proposals were received. The Selection Committee reviewed all submissions and interviewed the top five based on pre-determined metrics, qualifications, and experience, leading to the final decision.
One of the recipients, a collaborative effort by FoundersBoost Foundation, Hacker Fund, and the Alliance for SoCal Innovation, proposed a program titled the “Glendale Growth Alliance”, which will support innovation at multiple stages of maturity, from idea creation through startup scaling and growth. FoundersBoost is a global tech startup pre-accelerator that works with early-stage entrepreneurs. Hacker Fund is a model that empowers hackers to help the disadvantaged, educate the community, and protect the environment. The Alliance for Southern California Innovation is a not for profit that brings together the heft of Southern California’s top research institutions, local business leaders, and world-class advisors. Together they will build and run the “Glendale Growth Alliance” which will host public hackathons, run accelerator programs, and provide additional pathways for startups to grow and receive funding.
The second recipient is the “Venture Building Program” by SmartGateVC LLC, a firm that seeks out industry-defining ideas and injects the capital, talent, and industry connections necessary to power pre-seed to seed transformation. The Venture Building Program will bring together researchers at top universities with industry experts to develop and build products and companies, dramatically reducing the gap between the research and business communities. SmartGateVC currently operates startup hub HeroHouse in Glendale and has experienced success with investment in firms such as Krisp, Britive, and SuperAnnotate.
“There were several compelling factors that stood out for these two outstanding programs. They were able to demonstrate a track record of success and presented unique proposals that targeted different needs of the Glendale ecosystem and stages of growth for startups,” said Soua Vang, Glendale Deputy Director of Economic Development. “We look forward to seeing how they will help us to further shape the tech industry in Glendale.”
SmartGateVC Principal Armine Galstyan shared, “We are excited to continue our collaboration with the City of Glendale. We have been working within the Glendale tech ecosystem through SmartGateVC and Hero House, focusing on early-stage AI startups in the last three years. Glendale is the perfect base for our U.S. operations, offering a thriving tech community, strong civic support, and a central location within the Greater Los Angeles area. Hero House has become a hub of collaboration, and we look forward to deepening our impact within the tech community through these new programs.”
FoundersBoost CEO and Co-Founder Blake Caldwell said, “We are thrilled to be part of Glendale’s tech growth and to contribute to building a dynamic, inclusive startup ecosystem. The Glendale Growth Alliance supports the entire startup journey—from sparking inspiration to building capacity, and ultimately raising seed capital. By uniting three organizations, each a leader in their field, we deliver comprehensive support to help early-stage founders thrive. Our approach builds on the strong foundation already in place in Glendale, harnessing the city’s strengths in key sectors like SaaS, media, entertainment, and lifestyle, among others. Through this collaboration, we’re not just supporting startups—we’re fostering long-term innovation and economic prosperity for Glendale’s future.”
“The quality of proposals received by the city was impressive. More than that, we saw the incredible vision for our city’s future as presented by the two grant recipients. This program is just one more critical aspect of the city’s ongoing Tech Strategy which has made a huge impact in our ability to attract innovators and entrepreneurs to Glendale,” said David Crawley Delgado, Glendale senior economic development coordinator.
Much of this success has been driven by Glendale’s Tech Strategy report, published, and adopted by the City Council in 2017, which outlined several recommendations to strengthen the local ecosystem.
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