Neptune Shield Awarded $162,000 EDIP Grant to Expand Innovation Hub in Virginia Beach

May 16, 2025

EDIP Grant Will Power a Wide Variety of Startups, Including Veteran-Owned, Maritime, Defense and Cybersecurity

The Virginia Beach Department of Economic Development (VBED) has awarded a $162,681 Economic Development Investment Program (EDIP) grant to Neptune Shield, a Virginia Beach-based, veteran-led startup supporting companies creating advanced, dual-use technologies that strengthen national security.

Founded by former Navy SEAL Nick Rocha, Neptune Shield plays a critical role in the regional innovation ecosystem by providing early-stage U.S. and international companies—particularly those in the maritime, defense, cybersecurity, and government contracting—with the infrastructure, technology, resources, and secure environments needed to bring high-impact solutions to market.

The grant will fund the expansion of Neptune Shield’s Mid-Atlantic Innovation Tech Hub, located in the Lynnhaven area near NAS Oceana. Planned upgrades include private offices, coworking and R&D space, collaborative areas, and the addition of a Sensitive Compartmented Information Facility (SCIF)—a key resource for companies working with classified or sensitive information. The EDIP award is tied to Neptune Shield’s projected $2.4 million capital investment and the creation of 22 high-wage jobs to support the hub’s operations and growth.

“We’re honored to receive this support from the Virginia Beach Department of Economic Development,” said Nick Rocha, Founder and CEO of Neptune Shield. “Hampton Roads is one of the most strategically vital defense regions in the nation. By providing early-stage companies with the essential tools and resources they need, we’re accelerating the development of solutions that will shape the future of defense and drive economic growth. Our mission is to strengthen the region’s defense ecosystem and ensure that cutting-edge innovation—especially from those who have served—continues to thrive and evolve right here in Virginia Beach.”

The Mid-Atlantic Innovation Tech Hub serves as a regional launchpad for the growth and commercialization of dual-use technologies. The expanded facility will support both U.S. and international startups by providing “soft-landing” infrastructure, technical assistance, access to capital, and collaboration opportunities with government agencies, contractors, academic and industry stakeholders.

“Virginia Beach is proud to be the home of Neptune Shield’s Mid-Atlantic Innovation Tech Hub,” said Christian Green, Director of Economic Development for the City of Virginia Beach. “This forward-thinking initiative is a significant addition to our region’s growing defense and technology ecosystem. Neptune Shield’s deep commitment to innovation, research, and collaboration will leave a lasting mark on our region’s entrepreneurial landscape and further solidify Virginia Beach as a leader in the national security and defense sector.”

About Neptune Shield

Neptune SHIELD is dedicated to the commercialization of dual-use technologies for national defense and maritime infrastructure industries. Our membership is comprised of corporate partners, industry professionals, entrepreneurs, and veterans, with an emphasis on special operations. Neptune Shield provides an ecosystem of support and collaboration, advancing innovation, strengthening national security, and creating economic prosperity.