From left to right: Derek Ford, President & CEO of Washington DC Economic Partnership (WDCEP); Kathrine Vanliew, Director of Business Attraction at WDCEP, Vice President of Corporate Attraction, Audrey Polk at WDCEP, Mayor Muriel Bowser; Deputy Mayor Nina Albert of DMPED; Ben Fritsch Director of Communications of DMPED; Sara Adams, Director of Business Attraction & Expansion at DMPED; Chad Shuskey, Chief Operating Officer of WDCEP, Jamie Scott, Interim Director of Business Development & Strategy at DMPED; Tamara Zeidan, Director of the Office of Innovation at DC Department of Insurance, Securities, and Banking.
The Office of the Deputy Mayor for Planning and Economic Development (DMPED) is a driving force behind Washington, D.C.’s economic engine, a catalyst for innovation, growth, and opportunity in the nation’s capital. With a mission to foster a thriving, inclusive ecosystem, DMPED spearheads initiatives that attract businesses and cultivate job growth and entrepreneurship. Under the leadership of Mayor Muriel Bowser, Deputy Mayor Nina Albert, and Director of Business Development and Strategy Sybongile Cook, the organization sets a bold precedent for how cities can leverage policy and innovation to propel economic development.
Building the Future: A Multifaceted Approach
DMPED’s economic development framework includes targeting key high-growth industries seeking high-skilled talent, supporting housing affordability across the income spectrum, developing inclusive economic solutions, and fostering extraordinary culture and entertainment experiences. A core function of DMPED’s business development team is playing a critical role in attracting, retaining, and expanding businesses in the District. This unit aims to bring local and international businesses to D.C., fostering a diverse, vibrant, and thriving business community.
As Sybongile Cook describes it, “We are the economic development engine of District Government. Our work cuts across a variety of sectors, from job creation to creating world-class cultural and entertainment ecosystems.”
Innovation and Technology: The Heart of Growth
At the heart of DMPED’s mission is creating a vibrant innovation and technology ecosystem that positions Washington, D.C., as a leader in global innovation. Recognizing the transformative power of technology, DMPED prioritizes initiatives that foster innovation, attract cutting-edge companies, and nurture local talent. This strategic focus draws new businesses to the District and empowers homegrown startups to flourish in an increasingly competitive market. According to ArubaExec, D.C. is ranked #3 of the 15 leading tech cities in the nation.
“Growing the ecosystem is not just about attracting tenants and businesses here but growing our own and finding ways to invest in our local founders, too,” Sybongile emphasizes. This commitment to nurturing local entrepreneurship is evident in DMPED’s various programs that provide critical resources, mentorship, and financial support to budding innovators. By investing in local talent, DMPED aims to create a sustainable pipeline of innovation that drives long-term economic growth.
A cornerstone of this strategy is the development of innovation districts, such as the Golden Triangle Business Improvement District, which serves as a dynamic hub for tech startups and entrepreneurs. These districts are strategically located near essential institutions like universities, research centers, and government agencies, providing startups unparalleled access to resources and collaboration opportunities. These innovation districts are designed to be more than just physical spaces; they are thriving communities that foster creativity, collaboration, and entrepreneurship.
DMPED’s dedication to inclusivity in the innovation ecosystem ensures that all entrepreneurs, regardless of their background, have the opportunity to succeed. By actively removing barriers and creating equitable opportunities, DMPED seeks to empower entrepreneurs who might not traditionally receive investment. “We must ensure we create a space for everyone to have a seat at the table and no one on the menu; the District is a place for everyone to grow, live, and thrive,” Sybongile explains. This ethos of inclusivity is embedded in programs like the Inclusive Innovation Equity Impact Fund, which provides pre-seed funding to minority and underserved entrepreneurs. Over the past few years, DMPED has invested over $6 million in startups through this program.
This initiative is now evolving into a larger, more ambitious project: the $26 million DC Venture Fund, set to launch in the fall of 2024. “We’re preparing to launch our fund-to-fund program, which will provide significant pre-seed investment dollars into our founders in D.C., through funding from the U.S. Department of Treasury,” she reveals.
Through partnerships with organizations like 1863 Ventures and the creation of funds like the DC Venture Fund, DMPED addresses the funding gap many startups face. DMPED is leveling the playing field and enabling diverse entrepreneurs to contribute to the District’s economic vitality by ensuring that minority-owned ventures can access significant pre-seed investment dollars.
Moreover, DMPED collaborates with educational institutions and community partners to offer workforce development and entrepreneurship programs that equip local talent with the skills needed to thrive in the technology-driven economy. Initiatives like DC Startup Week provide platforms for entrepreneurs to network, share ideas, and showcase their innovations, further strengthening the District’s reputation as a hub for entrepreneurial activity.
A Collaborative Ecosystem: The Power of Partnerships
DMPED understands that building a robust economic ecosystem requires collaboration with various stakeholders, including community partners, government agencies, and private sector leaders. Through these partnerships, DMPED can design and implement programs that meet the evolving needs of the business community.
“We operate collaboratively, working closely with partners, businesses, and entrepreneurs, a practice we’ve upheld for the past 15+ years,” notes Sybongile. This collaborative approach is evident in initiatives like DC Startup Week, which has become a significant platform for showcasing and supporting local entrepreneurs.
Empowering Entrepreneurs: A Message of Hope and Opportunity
For entrepreneurs and startups in D.C., DMPED offers a message of hope and opportunity. The organization is committed to supporting innovation and entrepreneurship, providing the resources and environment necessary for businesses to succeed. “We want to hear from you and encourage your involvement and engagement, just as we are committed to engaging with you,” Sybongile emphasizes.
DMPED’s work is not just about economic growth; it’s about creating a community where everyone has the chance to succeed. As she states, “We want to grow together. This is a place where we want you to succeed and thrive in D.C.”
Leading with Vision and Purpose
DMPED is a shining example of how strategic planning and innovative thinking can drive economic growth and development. Through its comprehensive approach, the agency is laying the foundation for a vibrant, inclusive, and sustainable future for Washington, D.C. As the city continues to evolve, DMPED remains at the forefront, leading with vision, purpose, and a commitment to making D.C. a global leader in innovation and economic development. It’s an exciting time for Washington, D.C., and DMPED is poised to play a pivotal role in shaping the city’s future.
