The Innovation Index: Creating a Road Map to the New Innovation Economy

Since 1984, CIT has been a leader in the efforts to create a globally competitive innovation economy in Virginia.  CIT has worked with public and private stakeholders to boost entrepreneurial endeavors, support research and create seed-stage funding for start-ups and intellectual property – the essential ingredients for the creation of the next generation of technology companies. 

But sustained growth of an innovation economy requires more than funding to create new opportunities. Investment must be combined with proven management tools and commonsense performance metrics so that those investments offer the greatest return. Moreover, unlike other models that use centralized planning and top-down directives, CIT has advocated, instead, for a grassroots, regional approach that gives local industry and technology leaders the opportunity to provide input about innovations that will shape the future of their regions.

In 2008, the Virginia General Assembly passed a resolution creating the Commonwealth Innovation Index – a community-driven tool that will help the Commonwealth build and attract advanced technology companies. Specifically, it directed CIT to work with Virginia’s technology councils and technology leaders to create the index.  This partnership will provide elected officials with valuable guidance and expertise so that they can support the new innovation economy that benefits all regions of the Commonwealth.

For more information on the Index, contact Nancy Vorona at nancy.vorona@cit.org.

View the December 2, 2009, Phase I report (Flipbook (flash) or  PDF).

View the January 2009 status report to the Governor and General Assembly.