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A Resource Guide for Creating Or Launching a Small Business ENTREPRENEUR TOOLKIT: TECH

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A Resource Guide for Creating Or Launching a Small Business ENTREPRENEUR TOOLKIT: TECH A Resource Guide for Creating or Launching a Small Business ENTREPRENEUR TOOLKIT: TECH The technology sector plays a major role in diversifying Washington, DC’s economy. DC tech entrepreneurs enrich our communities through a wide range of products and services, including mobile apps, software, university and government tech transfer, biotechnology, UI/UX and web design, defense technology, augmented and virtual reality, hardware production, and much more. IN THIS TOOLKIT The DC Advantage Regulations Finding & Developing Talent Financial Incentives & Resources DC Accelerators, Incubators & Flexible Office Space Get Plugged into the DC Tech Community The Entrepreneur Toolkit is a publication of WDCEP. This document is intended to serve as a guide to start, grow, or expand your business in DC. It is not intended to supplant legal or financial advice. Although every attempt was made to ensure the quality of the information contained in this document, WDCEP makes no warranty or guarantee as to its accuracy, completeness, or usefulness for any given purpose. September 2018 II WELCOME Welcome to Washington, DC—the capital of inclusive innovation. DC is home to one of the world’s most talented, innovative, and diverse tech ecosystems. The District is not only home to several large successful tech companies like Mapbox, EVERFI, and Optoro, but it also features a thriving startup ecosystem with more than 80 coworking spaces, accelerators, and incubators spread throughout the city. DC’s mix of top talent and commitment to remaining the capital of inclusive innovation make it an ideal place for entrepreneurs to start or grow their tech company. Are you ready to turn your innovations into a reality? WDCEP is Here to Help! Looking to start or grow your tech We created this Entrepreneur Toolkit business in DC? The Washington specifically for the DC tech industry to DC Economic Partnership (WDCEP) supplement our more comprehensive can help. Whether you’re a new and detailed DC Doing Business startup or an established company Guide, which you can download looking to relocate or expand, at wdcep.com. We have done all WDCEP provides resources, the preliminary research for you so introductions, and promotion to help that you can focus on bringing your your business thrive in the District. business to life. WASHINGTON DC ECONOMIC PARTNERSHIP 1 ENTREPRENEUR TOOLKIT: TECH THE DC ADVANTAGE People are often attracted to Washington, DC for its politics and power, but increasingly more are discovering that the city is a thriving center for technology and entrepreneurship. Talented & Inclusive Workforce including over 180 embassies and foreign councils. DC is also home DC’s tech community is diverse, to the most iconic financial tenants inclusive, and active. Multiple in the world: the World Bank, the community and networking events International Monetary Fund, and the happen every day. Being the nation’s Inter-American Development Bank. capital, DC attracts diverse creative With so many different nationalities talent that provides a rich ecosystem flowing in and out of these institutions, for new enterprises and new every language and ethnicity can be opportunities in the city. found in Washington, DC, making it an international gateway. Supportive Tech Community Access to Available Investment, DC is home to the federal government, Business Opportunities & 16 universities, and many government and private-sector research institutions, Capital Resources making the District a global hub for Washington, DC entrepreneurs innovation in technology, policy, have access to a variety of funding and finance among many other sources from local and federal disciplines. Governors, mayors, heads government grants to venture capital. of state, university presidents, CEOs The Washington, DC region has an of energy companies, utilities, and abundance of wealth and is home hospital groups—all of these people to seven of the top ten wealthiest come through Washington making counties in the nation. With a growing DC a prime location for technology angel investor community, access to companies in regulated industries. accelerators, and proximity to federal and local government funding sources, International Visibility DC is an ideal location for startups to do business. The world recognizes DC as an international and national magnet for domestic and foreign affairs 2 Washington, DC is: • #1 Strongest Economy in the U.S. (Business Insider, 2018) • #1 Best U.S. Tech City for Women (SmartAsset, 2018) • #1 U.S. Public Transportation System (SmartAsset, 2018) • #2 Most Educated City in the U.S. (WalletHub, 2017) “As an entrepreneur, I’m privileged to • #3 Best Tech City in the U.S. work in a community where the creative juices are always flowing and you have (Cushman & Wakefield, 2017) the support you need at your fingertips. • #4 Most Innovative State in America DC boasts enthusiastic private and public (WalletHub, 2018) capital partners—all of which have been critical for my growing fintech company. • Best Startup Hub in the U.S. The unique access to policymakers and (2017 Kauffman Growth Entrepreneurship Index) thought leaders is only possible in our nation’s capital; and this, coupled with • Top 10 Global City the diverse and vibrant local culture, for Female Entrepreneurs make DC a great place to work and live.” (The Dell We Cities Index, 2016) —Marla Blow, CEO, FS Card What’s awaiting you in DC: • Demand for innovative tech solutions for local, national, and global issues • Extensive tech programming, including pitch competitions, mentoring, and one of the largest professional Meetups in the country, DC Tech Meetup • Over 80 coworking spaces, accelerators, and incubators • A highly skilled and educated workforce • Proximity to federal regulators and purchasers • City-wide initiatives that support and promote inclusive innovation • 9 major universities within 20 miles of DC with tech and data science degree programs • Multiple full-time and part-time computer programming schools WASHINGTON DC ECONOMIC PARTNERSHIP 3 ENTREPRENEUR TOOLKIT: TECH DO IT RIGHT ⊲ REGULATIONS Making Your Business Legal ➊ Complete Business Registration— ➏ Apply for a Certificate of DC Department of Consumer and Occupancy (bit.ly/CofO) Regulatory Affairs (business.dc.gov) ➐ Food service business applicants ➋ Apply for Employer Identification are required to submit a final Number (bit.ly/EIN-IRS) DOH inspection report. ➌ Register with the DC Office of Tax (bit.ly/DOHinspection2) and Revenue and complete the ➑ Apply for Basic Business FR-500 to receive your DC License and/ or other applicable Business Tax Identification Number licenses, according to your (mytax.dc.gov) business activities. (dcra.dc.gov/ ➍ Receive Certificate of Registration node/539512 and business.dc.gov) from the Office of Tax and Revenue ➒ Register your Business Trade Name ➎ Complete the Clean (dcra.dc.gov) hands Certificate affidavit (ocfocleanhands.dc.gov/cch) More information Business Licensing & Registration (DCRA) dcra.dc.gov/book/just-starting-your-business Zoning Interactive Map maps.dcoz.dc.gov/zr16 dcoz.dc.gov Public Space Permits bit.ly/DDOTpublicspace Building Permits, Building Plats, Trade Permits, Inspections dcra.dc.gov 4 FINDING & DEVELOPING TALENT Locating the right talent for your startup can be a major challenge, but keep in mind that DC has an extensive job market with a highly skilled workforce. Below are some of the resources available in the District that can help you find the right talent for your startup or help train you or your team with the technical skills you need. LOCAL JOB BOARDS FOR TECHNOLOGY JOBS Tech.Co AngelList DC Tech Jobs jobs.tech.co angel.co Facebook Group bit.ly/dctechjobs Technical.ly Upwork™ Freelancers technical.ly/dc/jobs upwork.com DC Digital Jobs Facebook Group Hired hired.com LOCAL JOB BOARDS FOR TECHNOLOGY JOBS Find talent, train your staff, or learn to code. Washington, DC is home to a wide variety of coding bootcamps that can help individuals kickstart their career in tech. Coding bootcamps are intensive programs that teach people with little or no technical background how to code and build applications on a professional level in as little as eight to twelve weeks. Coding bootcamps can be a great resource to find entry-level talent for a startup or to train existing staff with needed technical skills. PROGRAM COURSES FORMAT Byte Back PC for Beginners, Office Track, Microsoft Office Specialist IP, PT Certification in Excel, CompTIA A+ Certification Code for Progress Back-End, Front-End IP, FT Data Society Data Analyst, Network Analyst, Text Mining Analyst: Coming On, FT, PT Soon Flatiron School Software engineering, Data Science IP, FT, PT General Assembly Coding, Design, Data, Marketing, Business On, IP, FP, PT Hear Me Code Beginners Coding: 3 Lessons IP, PT NodeSchoolDC Open Source Workshops, Self Guided (Workshoppers) On, Off w/ Node.js, npm, and a text editor Thinkful Stack Developing, Data Science, Front End Developing, Back On, IP, FT, PT End Developing, Mobile Developing, Design Coder Camp Full Stack Web Development, Coding from Scratch On, IP, FT, PT IP - In Person PT - Part Time FT - Full Time On - Online Off - Offline WASHINGTON DC ECONOMIC PARTNERSHIP 5 ENTREPRENEUR TOOLKIT: TECH FINANCIAL INCENTIVES The District offers a variety of incentives for entrepreneurs who are looking to locate or expand their business in DC. This section gives you an array of programs set up to help businesses succeed in DC. QUALIFIED HIGH TECH COMPANY (QHTC) INCENTIVES Washington, DC offers
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