Welcome to the media room of the Center for Innovative Technology.  Read the latest news about CIT and how the organization seeks to close innovations gaps in the Commonwealth of Virginia and the nation.

The media room contains our latest press releases, media coverage of CIT, a bio of our president, our annual report and appropriate contact details if you are a member of the media and have an inquiry.

CIT is honored to support the recently released report by Governor Bob McDonnell outlining Virginia’s cyber industry and promoting the Commonwealth as the leading cyber security ecosystem in the U.S.

CIT Announces Commonwealth Research Commercialization Fund (CRCF) Winter 2012 Request for Proposals
February 3, 2012 (Herndon, VA) - The Center for Innovative Technology (CIT) announced today the Commonwealth Research Commercialization Fund (CRCF) Winter 2012 Request for Proposals (RFP). CRCF advances science- and technology-based research, development, and commercialization to drive economic growth in Virginia and strengthen partnerships between academia, business, and industry. Press Release 

CIT GAP Funds Invests in WireTough Cylinders, LLC of Bristol, VA
February 2, 2012 (Herndon, VA) - The Center for Innovative Technology (CIT) announced today its Commonwealth Energy Fund (CEF) has invested $200,000 in Bristol, Va.-based WireTough Cylinders, LLC. WireTough manufactures compressed natural gas (CNG) cylinders reinforced with steel wire, thus reducing weight, providing high safety, and increasing fuel-efficiency for vehicles. Press Release 

CIT GAP Funds Invests in RecargaX, LLC
January 26, 2012 (Herndon, VA) - The Center for Innovative Technology (CIT) announced today a $200,000 investment in Leesburg, Va.-based RecargaX, LLC, a company that allows money service businesses (MSBs) to expand their service offerings to large unbanked and under-banked sectors of the economy. Press Release 

CIT GAP Funds Invests in SpydrSafe Mobile Security, Inc.
January 23, 2012 (Herndon, VA) - The Center for Innovative Technology (CIT) announced today a $50,000 investment in SpydrSafe Mobile Security, Inc., of McLean, Va., whose mobile security platform prevents corporate data breaches and enables the use of employee-owned devices in the workplace. Press Release 

CIT GAP Funds Invests in SphynKx Therapeutics LLC
January 18, 2012 (Herndon, VA) - The Center for Innovative Technology (CIT) announced today a $50,000 investment in Charlottesville, Va.-based SphynKx Therapeutics LLC. SphynKx focuses on the discovery and development of small molecule therapeutics that target the sphingosine 1-phosphate (S1P) pathway in novel ways, potentially leading to breakthrough treatments for diseases such as fibrosis and cancer. Press Release 

CIT GAP Funds Invests in PublicRelay
January 11, 2012 (Herndon, VA) - The Center for Innovative Technology (CIT) announced today an investment in Reston, Va.-based PublicRelay, a company providing an intelligence system for corporate communications and public relations executives. Press Release 

CIT GAP Funds Invests in U.Va.-Based Start-Up Rivanna Medical
January 9, 2012 (Herndon, VA) - The Center for Innovative Technology (CIT) announced today a $50,000 investment in University of Virginia (U.Va.)-based start-up Rivanna Medical, a company specializing in portable, low-cost, radiation-free X-ray replacement technology based on medical ultrasound. Press Release 

CIT Announces Fall 2011 Commonwealth Research Commercialization Fund (CRCF) Awards
December 21, 2011 (Herndon, VA) - The Center for Innovative Technology (CIT) announced today 29 Commonwealth Research Commercialization Fund (CRCF) awards totaling $3.6 million made to 22 organizations from academia, the research community, and industry in the Commonwealth for the purpose of funding targeted areas of research with commercial promise aligned with the Commonwealth Research and Technology (R&T) Strategic Roadmap. Press Release 

Innovation and Entrepreneurship Investment Authority and CIT Announce New Officers
December 19, 2011 (Herndon, VA) - The Innovation and Entrepreneurship Investment Authority (IEIA) and the Center for Innovative Technology (CIT) announced today the election of David Lucien, CEO of DCL Associates, as Chairman, and Joseph Doherty, Executive Vice President and COO of Government Solutions, ACS, A Xerox Company, as Vice-Chairman. Press Release 

CIT GAP Funds Invest in Ringio
November 30, 2011 (Herndon, VA) - The Center for Innovative Technology (CIT) announced today a $100,000 investment in Ringio, an innovative cloud-based solution for small- and medium-sized businesses that combines unified communications, mobile services, social media, and customer relationship management (CRM) technologies to improve all qualitative aspects of customer phone calls. Ringio is located in McLean. Press Release 

CIT Invests in ADI Engineering
November 15, 2011 (Herndon, VA) - The Center for Innovative Technology (CIT) announced today that its Commonwealth Energy Fund (CEF) has invested $200,000 in ADI Engineering, headquartered in Charlottesville, Va., a leading provider of “green” commercial off-the-shelf (COTS) embedded single board computers with a unique Open IP model that allows customers to tap into emerging low-power technologies faster. Press Release 

CIT Mourns the Loss of Dr. John B. Noftsinger, Jr.
November 14, 2011 (Herndon, VA) - The Center for Innovative Technology (CIT) reported today, with great sadness, the sudden passing of Dr. John B. Noftsinger, Jr., Vice Provost for Research and Public Service at James Madison University (JMU).  In addition to his position at JMU, Dr. Noftsinger supported the establishment of a statewide strategic planning Roadmap for the Commonwealth of Virginia.  Working with CIT and other research institutions, Dr. Noftsinger was a well-regarded member of the Research and Technology Investment Advisory Committee (RTIAC). Press Release

CIT Awarded Subcontract with Rutgers University for MARACOOS Project
November 10, 2011 (Herndon, VA) - The Center for Innovative Technology (CIT) announced today a subcontract with Rutgers University for the Mid-Atlantic Regional Association Coastal Ocean Observing System (MARACOOS) project whose mission is to seek, discover, and apply new knowledge and understanding for our coastal ocean. Press Release

CIT GAP Funds Invests in OhMyGov, Inc.
October 25, 2011 (Herndon, VA) - The Center for Innovative Technology (CIT) announced today an investment in OhMyGov, Inc., an Alexandria-based technology firm that provides software to help government agencies, politicians, and political organizations monitor public dialogue and measure the influence of marketing efforts on politics. Press Release

CIT Invests in Front Royal-based CavitroniX
October 20, 2011 (Herndon, VA) - The Center for Innovative Technology (CIT) announced today that its Commonwealth Energy Fund (CEF) has invested $200,000 in CavitroniX, based in Front Royal, Va., a leader in point-of-use emulsion systems that cuts energy costs and pollution. Press Release

CIT GAP Funds Invests in Efficient Photon LLC
October 17, 2011 (Herndon, VA) - The Center for Innovative Technology (CIT) announced today that its CIT GAP Funds has invested in Efficient Photon, LLC, of McLean, Va., a manufacturer of energy efficient industrial lighting that saves energy, cuts costs, and maintains performance for five years. Press Release

CIT GAP Funds Portfolio Company Marz Industries Announced Winner of Distilled Intelligence 1.0
October 12, 2011 (Herndon, VA) - The Center for Innovative Technology (CIT) announced today that CIT GAP Funds portfolio company Marz Industries of RIchmond, Va. has won first place and $15,000 cash funding in the Distilled Intelligence 1.0 event. Marz was selected from among the mid-Atlantic region's hottest and most promising start-ups. Press Release

CIT Invests in Servhawk LLC
October 6, 2011 (Herndon, VA) - The Center for Innovative Technology (CIT) announced today that its Commonwealth Energy Fund (CEF) has invested $200,000 in Servhawk LLC of Great Falls, Virginia, whose proprietary software solution takes server inventory and utilization data and quickly turns it into better energy usage, efficiency, and productivity information in the growing data center marketplace. Press Release

CIT and Technology Community Release Research & Technology Strategic Roadmap, CIT Opens CRCF Solicitations
October 4, 2011 (Herndon, VA) - The Center for Innovative Technology (CIT) - in close collaboration with the Secretariats of Technology, Education, and Commerce and Trade; members of the legislature; Virginia Economic Development Partnership (VEDP); the ten regional technology councils; colleges and universities; federal labs and research institutes; and Chmura Economics & Analytics - announced today the release of the Commonwealth Research and Technology (R&T) Strategic Roadmap. The R&T Roadmap identifies key industry subsectors and applied research that will be eligible for funding through the newly created Commonwealth Research Commercialization Fund (CRCF). A fall solicitation will be released on October 4 and a second round will be issued in early CY2012. Press Release

CIT Invests in Richmond, Virginia-based Marz Industries
September 29, 2011 (Herndon, VA) - The Center for Innovative Technology (CIT) announced today that its CIT GAP Funds has placed an investment in Marz Industries, Inc., of Richmond, Virginia, whose patent-pending hydrogen fuel cell-based technology is designed to improve fuel efficiency and reduce emissions for the trucking and other diesel-reliant industries. Press Release

LATISTA, a CIT GAP Funds Company, Implemented by Largest General Contractor in the Southern U.S.
September 14, 2011(Herndon, VA) - LATISTA, a CIT GAP Funds company and provider of field management software and services, has signed an agreement with Brasfield & Gorrie General Contractors, the largest general contractor in the southeast, to impletement more than 1,000 users on LATISTA's construction quality management software. To read more about LATISTA and the agreement, check out the article on PRWeb.

CIT Announces New Research and Technology Investment Advisory Committee Appointments
August  24, 2011 (Herndon, VA) - The Center for Innovative Technology (CIT) announced today the appointment of the Research and Technology Investment Advisory Committee (RTIAC). As part of Governor McDonnell's economic development package and in conjunction with General Assembly action, the RTIAC will support the establishment of a statewide strategic roadmap and guide $6 million of investments in research and technology aligned with the roadmap. Press Release

IEIA and CIT Announce New Board Appointments
August  9, 2011 (Herndon, VA) - The Innovation and Entrepreneurship Investment Authority (IEIA) and the Center for Innovative Technology (CIT) announced today the appointment of six new members to serve on the organizations' Board of Directors: Jim Cheng, Virginia Secretary of Commerce and Trade; Laura Fornash, Virginia Interim Secretary of Education; Dr. Michael Rao, President of Virginia Commonwealth University (VCU); David Lucien, CEO of DCL Associates; Joseph Doherty, Executive Vice President and COO of ACS Government Solutions; and Terry Hsiao, Founding CEO of Hooks Mobile. Press Release

CIT Hires Dan Mindus as New Investment Director of CIT GAP Funds
July 26, 2011 (Herndon, VA) - The Center for Innovative Technology (CIT) announced today that Dan Mindus has joined CIT as Investment Director for the CIT GAP Funds. Prior to coming to CIT, Mindus served as Vice President of the New Vantage Group, a leading East Coast investment firm focused on angel capital management. As Investment Director, Mindus will be responsible for sourcing, diligence, and closing of seed- and early-stage investments on the GAP Tech Fund. Press Release

CIT GAP Funds Invest in uKnow.com
July 25, 2011 (Herndon, VA) - The Center for Innovative Technology (CIT) announced today a $100,000 seed-round investment in Arlington, Va.-based uKnow.com, a parental intelligence system that helps parents protect their kids against online predators, sexting, and cyber-bullying, while also supervising their children's digital privacy and reputation. Press Release

CIT Welcomes Alex Euler as the GAP BioLife Fund's New Investment Director
July14, 2011 (Herndon, VA) - The Center for Innovative Technology (CIT) announced today that Alex Euler has joined CIT as Investment Director for the GAP BioLife Fund. Euler will be responsible for sourcing, conducting due diligence on, an closing seed- and early-stage investments for the GAP BioLife Fund. He will also serve as board representative on GAP BioLife Fund portfolio companies and help guide these firms to their next stage of development. Press Release

CIT Hires Sean Mallon as New Senior Investment Director of CIT GAP Funds
June 14, 2011 (Herndon, VA) - The Center for Innovative Technology (CIT) announced today that Sean Mallon, experienced entrepreneur and investor, has joined CIT as Senior Investment Director for the CIT GAP Funds, where he will be responsible for sourcing, diligence, and closing of seed- and early-stage investments on the GAP Tech Fund. Press Release

CIT Takes Charge to Advance New Legislation, Spur Innovation Economy
May 31, 2011 (Herndon, VA) - The Center for Innovative Technology (CIT) announced today that it will lead the development of the Commonwealth Research and Technology (R&T) Strategic Roadmap that is tied to the $6 million in new money for the Commonwealth Research Commercialization Fund (CRCF). The reforms and funding were part of the McDonnell Administration's economic development package and spearheaded in the 2011 Virginia General Assembly session by Delegates Scott Lingamfelter and Joe May, and Senators Mark Herring and Stephen Newman. Press Release

CIT GAP Funds Company, MiserWare, Sees Customer Spike Following Japan Earthquake
April 28, 2011 (Herndon, VA) - MiserWare, a Blacksburg, VA-based software startup and CIT GAP Funds portfolio company tripled the number of downloads for its Granola product, an energy-saving software which has become highly popular in Japan following the March earthquake. Reuters reported on the spike in an April 27-released article.

CIT GAP Funds Invest in Extinction Pharmaceuticals
April 20, 2011 (Herndon, VA) - The Center for Innovative Technology (CIT) announced today an investment in Extinction Pharmaceuticals. This Williamsburg, Va.-based drug development company is creating a proprietary and revolutionary therapeutic approach for treating anxiety disorders and other afflictions that can benefit from traditional talk therapy treatments. Press Release

CIT Announces $6 Million for its CIT GAP Funds, Information Sessions Calendar
April 12, 2011 (Herndon, VA) - The Center for Innovative Technology (CIT) announced today that it has received $4 million for its GAP Funds as part of Governor's McDonnell's and the General Assembly's budget package, and $2 million from the VIrginia Department of Mines, Minerals and Energy (DMME) through the U.S. Department of Energy (DOE) American Recovery and Reinvestment Act (ARRA) to identify and fund commercially ready, innovative green technolog companies located in the Commonwealth of Virginia. CIT also announced its plan to co-host with Virginia's ten regional technology councils information sessions to discuss these new funding opportunities for seed- and early-stage companies in the technology, energy, and life sciences sectors. Press Release 

CIT GAP Funds Invest in Canvas
April 7, 2011 (Herndon, VA) - The Center for Innovative Technology (CIT) announced today an investment in Herndon, Va.-based Canvas, a mobile applications company that makes it extremely easy to find, customize, and publish data collection apps for all varieties of smartphones and other mobile devices such as laptops, tablets, netbooks, and barcode scanning devices. Canvas reduces paper consumption, redundant data entry, and excess processes for businesses and mobile professionals. Press Release

MiserWare, a CIT GAP Funds Company, Ranks Among PC Magazine's Best Free Software of 2011
April 7, 2011 (Herndon, VA) - MiserWare, a Blacksburg, VA-based software startup and CIT GAP Funds portfolio company continues to receive recognition and praise - this time for its Granola software, which was ranked among PC Magazine's Best Free Software of 2011. To read more about MiserWare and Granola, check out the full article in PC Magazine online.

CIT GAP Funds Invest in Airside Mobile Inc.
April 4, 2011 (Herndon, VA) - The Center for Innovative Technology (CIT) announced today an investment in Airside Mobile Inc., an Arlington-Va.-based company providing a free mobile commerce platform that instantly allows travelers to ease and expedite their airport experiences through their mobile devices with access to a wide range of solutions to common - and often last-minute - airport hassles. Press Release

Former VA Secretary of Commerce Bob Stolle to Head CIT Regional Growth Programs
March 21, 2011 (Herndon, VA) - The Center for Innovative Technology (CIT) announced today the appointment of Bob Stolle as the new Vice President for Regional Growth Programs, where he will be responsible for the establishment and operation of strategic programs designed to maximize the growth of Virginia's regional technology industries. Press Release

CIT Announces Passing of Board Chairman
March 15, 2011 (Herndon, VA) - The Center for Innovative Technology (CIT) announced today the passing of Dan R. Bannister, Chairman of the Board of the Innovation and Entrepreneurship Investment Authority (IEIA) and CIT. Press Release

CIT Receives Additional Funding for Mine Safety Program
March 3, 2011 (Herndon, VA) - The Center for Innovative Technology (CIT) announced today that it received a $200,000 award from the Small Business Administration (SBA) to adapt methane and oxygen sensors and wireless communication systems to permit continuous, remote sensing of dangerous conditions in underground coal mines induced by high and/or low gas levels. Press Release

MiserWare, a CIT GAP Funds Company, Makes Time Magazine's Top 20 Green Tech Ideas
January 26, 2011 (Herndon, VA) - MiserWare, a Blacksburg, VA-based software startup that is quickly becoming a leading innovator in the Green IT marketplace, has made the list of Time Magazine's Top 20 Green Tech Ideas for its Granola software the cuts energy consumption without a loss in performance. Press Release

CIT's Vessel Tracking Project Seeks to Improve Security Along Virginia's Coastline
December 14, 2010 (Herndon, VA) - The Center for Innovative Technology (CIT) announced today an award from the Naval Surface Warfare Center Dahlgren Division (NSWCDD) to advance and demonstrate vessel detection technology in support of the U.S. Department of Defense (DoD) initiatives to detect and track approaching vessels inside America's Exclusive Economic Zone (EEZ). Press Release

CIT Posts Vendor Selection Process for Electronic Health Records
November 22, 2010 (Herndon, VA) - VHQC announced a partnership with the Center for Innovative Technology (CIT) to assist with the review and selection of qualified vendors to expand the use of electronic health records (EHRs) throughout the Commonwealth. The initiative is part of the $600 million nationwide effort by the U.S. Department of Health and Human Services (HHS) to help 100,000 priority primary care providers attain "meaningful use" of EHRs. Press Release

CIT Wins SBA's FAST Funding Award for Third Time
November 18, 2010 (Herndon, VA) - The Center for Innovative Technology (CIT) announced today an award from the U.S. Small Business Administration (SBA) for the FAST (Federal and State Technology) Partnership program. The award is for $100,000 in federal funding, with CIT providing a $100,000 match. This is the third time CIT has won the award. Press Release

CIT Releases Innovation Index Reports
November 17, 2010 (Herndon, VA) - The Center for Innovative Technology (CIT) announced today the release of reports on the Commonwealth Innovation Index, the first comprehensive, long-term planning tool designed to foster the formation, retention, and expansion of technology-based economic development opportunities throughout the Commonwealth. Press Release

CIT GAP Funds Invests in ROI²
October 26, 2010 (Richmond, VA) - The Center for Innovative Technology (CIT) announced today that CIT GAP Funds led a quarter-million dollar investment in ROI², of Reston, Virginia. ROI² provides Virginia with industry leadership in the $1.6B market for pharmaceutical, biotech and medical device product launch, branding and positioning. Press Release

CIT GAP Funds Invests in Parabon NanoLabs
July 6 , 2010 (Herndon, VA) - The Center for Innovative Technology announced today that its CIT GAP BioLife Fund closed on an investment in Parabon NanoLabs, Inc., a Reston-based nano-pharmaceutical company that uses a proprietary combination of innovative software and nanoscale fabrication technologies that speeds up and lowers the cost of drug discovery, especially for treatments for cancerous brain tumors like malignant glioma that took the life of late-Senator Edward Kennedy. Press Release

IEIA Board Elects Chairman, Vice-Chairman
May 3, 2010 (Herndon, VA) - The Board of Directors of the Center for Innovative Technology (CIT), a state-chartered non-profit that accelerates innovation and technology company creation, announced today that Dan R. Bannister and Dr. Charles W. Steger were elected Chairman and Vice Chairman of the Board of the Innovation and Entrepreneurship Investment Authority (IEIA) and CIT. Press Release

CIT GAP Funds Invests in SitScape
April 13, 2010 (Herndon, VA) - The Center for Innovative Technology announced today that its CIT GAP Funds invested in SitScape, an enterprise software company headquartered in Tyson's Corner that helps customers visually access live information from disparate applications and content sources, increasing transparency, productivity and marketing capabilities while reducing costs. Press Release

CIT Celebrates GAP Funds Milestone During National Entrepreneurship Week
February 24, 2010 (Herndon, VA) – The Center for Innovative Technology (CIT) touted the achievements of its GAP Funds, which has helped create 36 early stage high-tech and biolife companies, as part of National Entrepreneurship Week established by Congress in 2006 “so that the people of the United States are reminded of the contributions of entrepreneurs.”.  Press Release

CIT Part of Health IT Consortium to Advance electronic Health Records in Virginia
January 14, 2010 (Herndon, VA) - VHQC, a healthcare consulting firm and the federally designated Quality Improvement Organization for Virginia, in partnership with the Center for Innovative Technology, Community Care Network of Virginia and the Medical Society of Virginia, today announced the receipt of a two-year, $12.4 million grant. The funding from the United States Department of Health and Human Services, Office of the National Coordinator for Health Information Technology, will support a statewide Health Information Technology Regional Extension Center. Press Release

CIT Receives Mine Safety Funding
January 14, 2010 (Herndon, VA) - The Center for Innovative Technology received a $237,500 grant from the Small Business Administration (SBA) for a Mine Safety program, a public-private partnership to develop and deploy a carbon monixide sensor and wireless communications network in active coal mines to improve miner safety.  In addition to CIT, the team includes Tazewell-based Pyott-Boone Electronics and Innovative Wireless Technologies, Inc. of Forest, Virginia.  Press Release

RollStream Lands $6M B Round Led by Core Capital
UPDATED: FAIRFAX, VA - RollStream, a Fairfax-based company selling supply chain management and communication process software, has closed a $6 million B round of funding led by Core Capital Partners with existing investor Grotech Ventures participating. Press Release

CIT GAP Funds Company Awarded SBIR Grant
The Center for Innovative Technology (CIT) announced today that Innovative Biologics, Inc. (IBI), a CIT GAP BioLife Fund portfolio company, received a $750,000 Small Business Innovation Research (SBIR) Phase II award from the National Institutes of Health (NIH).   Press Release

CIT Helps Dept. of Education Speed College Transcripts
June 23, 2008 (Herndon, Va.) – This time of year, after months of preparing transcripts and filling out applications, many high school seniors are graduating and looking forward to beginning college in the fall. The Virginia Department of Education—with assistance of technical experts at the Center for Innovative Technology—is piloting a new program that may give next year’s graduating seniors a faster and more secure way to get academic transcripts to colleges and universities.Press Release

CIT GAP Funds Invests in OTraces, Inc.
The Center for Innovative Technology (CIT), a state-chartered non-profit, announced today that its GAP BioLife Fund, part of the successful GAP Family of Funds, made a $100,000 early-stage investment in OTraces, Inc., a Herndon, Va.-based company that offers more highly accurate and sensitive blood screening tests for breast, prostate, lung and ovarian cancers. Press Release

CIT GAP Fund Invests in GCPay
The Center for Innovative Technology (CIT) announced today that CIT GAP Funds is investing in GCPay, a South Hill, Va.– based company whose online application service helps construction project owners, lenders, auditors, general contractors, and subcontractors by simplifying and automating the collection, reporting and processing of construction project progress payments. CIT will invest $100,000. Press Release

CIT GAP Funds Invests in WorkProducts, Inc
The Center for Innovative Technology (CIT) today announced that CIT GAP Funds is investing in WorkProducts, Inc., a Reston, Va. – based company with a market-leading evidence lifecycle management (ELM)/litigation compliance product, the MatterSpace® appliance. WorkProducts will use this capital to continue its customer and alliance partner execution, as well as to fortify its intellectual property protection.Press Release

CIT GAP Funds Invests in SwipePay Mobile, Inc
The Center for Innovative Technology (CIT) announced today that CIT GAP Funds is investing in SwipePay Mobile, Inc., creators of a prepaid mobile phone application based in Alexandria, Va. CIT will invest $100,000.  Press Release

CIT GAP Funds Invests in STR, LLC
The Center for Innovative Technology (CIT) today announced that CIT GAP Funds is leading an investment round in Soft Tissue Regeneration, LLC (STR), a medical device company based in Earlysville, VA, that develops synthetic scaffolds to encourage tissue regeneration.  CIT will invest $100,000. Press Release

CIT SERVICES NOW ON GSA SCHEDULES
The Center for Innovative Technology (CIT), a state-chartered non-profit, today announced that it is now on the GSA Mission Oriented Business Integrated Services (MOBIS) Schedule.Press Release

CIT GAP Funds Invest in NexGenVS, LLC
The Center for Innovative Technology (CIT) today announced that CIT GAP Funds is investing $100,000 in NexGenVS, LLC, a peer-to-peer (P2P) data sharing company with a patented architecture. NexGenVS, headquartered in Blacksburg, Va., will use the investment to complete and launch its software and service, build its team, implement partner channels and market its product. Press Release

CIT GAP Funds Invests in nexVortex, Inc.
The Center for Innovative Technology (CIT) today announced that CIT GAP Funds is leading an investment round in nexVortex, Inc., an Internet Telephony Service Provider headquartered in Herndon, VA, that specializes in “business grade” SIP trunking and other IP-based integrated applications and services. CIT will invest $100,000, which nexVortex will use to complete its business planning and to start implementation of a suite of collaborative Web 2.0 based services. Press Release

CIT GAP Funds Invests in Innovative Biologics, Inc.
The Center for Innovative Technology (CIT) today announced that CIT GAP Funds is investing $100,000 in Innovative Biologics, Inc. (IBI), an anti-infective drug discovery and development company searching for new anti-microbial drugs targeting bacterial toxins.  IBI, based in Sterling, Virginia, will use the investment to advance its Methicillin-resistant Staphylococcus aureus (MRSA) and Hepatitis C (HCV) preclinical candidates. Press Release

IDHS Awards Phase II Contract to AMERICAN SYSTEMS for Early Warning System Concept Demonstration
The Institute of Defense and Homeland Security (IDHS), an organization of the non-profit Center for Innovative Technology, announced today that AMERICAN SYSTEMS Corporation was awarded a contract to continue work on IDHS’ Red Cell program as part of its Crisis Alert initiative.
Press Release

CIT GAP Funds Invests in Eye Q Development
The Center for Innovative Technology (CIT) today announced that CIT GAP Funds is investing $100,000 in Eye Q Development, Inc., which produces advanced technology identification, security and safety items for business.  Eye Q of Reston will use the investment for research and product development using magnetic media and RFID technologies. Press Release

CIT GAP Funds Invests in LT Technologies
The Center for Innovative Technology (CIT) today announced that CIT GAP Funds is investing $100,000 in LT Technologies, LLC (LTT) to advance next generation semiconductor technologies. LT Technologies of Chantilly will use the investment to finance further research and development, commercialization and marketing of its break-through microwave technology and products in the semiconductor rapid thermal processing and bonding markets.  Press Release

CIT to Host Funding Road Show
The Center for Innovative Technology (CIT) today announced that it will host three educational seminars introducing small businesses in Southern Virginia to federal and private funding sources for technology research and development.  The half-day events will take place in Danville, Galax and Abingdon, Va. on July 24, 25 and 26 respectively. Press Release

Center for Innovative Technology Invests $100,000 in Piedmont Bioproducts
The Center for Innovative Technology (CIT) today announced that the CIT GAP Fund invested $100,000 in Piedmont Bioproducts, LLC in order to support the expansion of technology-based industries in Southern Virginia. Press Release

Center for Innovative Technology Invests $200,000 in Engineered Products of Virginia and Piedmont Bioproducts
The Center for Innovative Technology (CIT) today announced that the CIT GAP Fund invested $200,000 in Engineered Products of Virginia, LLC and Piedmont Bioproducts, LLC in order to support the expansion of technology-based industries in Southern Virginia. Press Release  

Center for Innovative Technology Invests $100,000 in Engineered Products of Virginia
The Center for Innovative Technology (CIT) today announced that the CIT GAP Fund invested $100,000 in Engineered Products of Virginia, LLC. Press Release

CIT GAP Fund Invests in NBE Technologies
The Center for Innovative Technology (CIT) today announced that its GAP Fund made an investment of $50,000 in NBE Technologies, LLC.  NBE Technologies will use the investment to expand its workforce and manufacturing capabilities.  Press Release

CIT Launches New Emerging Life Sciences GAP Fund
The Commonwealth’s Secretary of Technology and the Center for Innovative Technology (CIT) today announced that the CIT Growth Acceleration Program (GAP) has launched a new fund, the GAP BioLife Fund, a seed stage venture fund to support emerging life science companies in Virginia.  The fund launch coincides with CIT’s receipt of a grant from Johnson & Johnson, through the Corporate Office of Science and Technology, aimed at jump-starting fund formation and launch. Press Release

Symantec Makes Strategic Acquisition of CIT GAP Fund Portfolio Company
Center for Innovative Technology (CIT) today announced the acquisition of 4FrontSecurity, Inc., a GAP Fund portfolio company, by Symantec Corp., the world’s largest software security firm. Press Release

CIT GAP Fund Invests $70,000 in South49 Solutions
The Center for Innovative Technology (CIT) today announced that its GAP Fund invested $70,000 in South49 Solutions, LLC, a leading-edge provider of business technology services based in Sterling, Va. The investment will facilitate expansion of the company’s product offerings and web based software platform. Press Release

CIT to Host Innovative Transitions 2006
The Center for Innovative Technology (CIT) today announced that it will host Innovative Transitions 2006: Virginia’s 12th Annual SBIR Conference.  The conference will be held at CIT’s headquarters December 4-5, 2006. Press Release

CIT GAP Fund Invests $100,000 in iNEOMARKETING
The Center for Innovative Technology (CIT) today announced that its Growth Acceleration Program (GAP) fund invested $100,000 in iNeoMarketing™, a hosted eMarketing software company based in Herndon, Va.  The investment will facilitate building a sales infrastructure, marketing and software development.  Press Release

Center for Innovative Technology Announces Pilot Program for Seed Capital Generation
The Center for Innovative Technology (CIT) today announced the launch of a pilot program that will provide seed capital of up to $100,000 to promising early and growth stage technology businesses located in Southside and Southwest Virginia. Press Release

CIT GAP Fund Invests $50,000 in Global Cell Solutions
The Center for Innovative Technology (CIT) today announced that its Growth Acceleration Program (GAP) Fund invested $50,000 in Global Cell Solutions, LLC, a Charlottesville, Va.-based biotechnology company focused on the application of novel and dramatically improved cell culture technologies to human therapy.  The investment will facilitate intellectual property filings, product research and development and sales and marketing efforts. Press Release

CIT GAP Fund Invests $100,000 in Verical
The Center for Innovative Technology (CIT) today announced that its Growth Accelerated Program (GAP) fund invested $100,000 in Verical Incorporated, an Alexandria, Va.-based e-commerce assurance company that provides authentication tools and clearinghouse services to prevent fraud in secondary marketplaces.   The investment will facilitate middleware development, a commerce platform, sales expansion and research and development. Press Release

CIT to Host Free Information Security Workshops in Southern Virginia
The Center for Innovative Technology (CIT) will host free interactive workshops to educate business owners, individuals and IT managers about the jargon, acronyms, benefits and misconceptions about network and data security in Southern Virginia.  The workshops will take place October 3 and 19, 2006 in South Hill, Va. and Danville, Va. Press Release

CIT to Host Free Educational Wireless Broadband Workshops in Martinsville and Blackstone
The Center for Innovative Technology (CIT) will host free interactive workshops in Southern Virginia to educate business owners, individuals and IT managers on the jargon, acronyms, benefits and misconceptions about wireless telecommunication techniques and technologies.  The workshops will take place October 18 and 31, 2006 in Martinsville, Va. and Blackstone, Va. Press Release

Charles Curran Named to CIT’s GAP Fund Investment Advisory Board
The Center for Innovative Technology (CIT) today announced the appointment of Charles Curran, general partner at Valhalla Partners, to CIT’s GAP Fund Investment Advisory Board (IAB).  The GAP Fund IAB guides CIT in making all GAP Fund investment decisions. Press Release

Three New Members Named to CIT’s GAP Fund Investment Advisory Board
The Center for Innovative Technology (CIT) today announced the appointments of Daniel Barchi, Hiram Ewald and S. Tien Wong to the organization’s GAP Fund Investment Advisory Board (IAB).  The GAP Fund IAB guides CIT in making all GAP Fund investment decisions. Press Release

CIT GAP Fund Named to Entrepreneur Magazine’s Top 100 Venture Capital Firms
Entrepreneur Magazine named the Center for Innovative Technology’s GAP Fund one of the Top 100 Venture Capital Firms in 2006.  The listing, http://www.entrepreneur.com/listings/vc100, ranks venture capital firms by the number of early-stage deals made in 2005. Press Release

VIRGINIA GOVERNOR TIM KAINE APPOINTS NEW MEMBERS TO CIT BOARD OF DIRECTORS
The Center for Innovative Technology (CIT) today announced the appointment of a new chairman, vice chairman and two new members to the organization’s board of directors.  The CIT board of directors is appointed by the Honorable Tim Kaine, Governor of Virginia. Press Release

CIT GAP Fund Invests in Rollstream
The Center for Innovative Technology (CIT) today announced that its GAP Fund participated in a $200,000 investment round in Rollstream, Inc., a Fairfax, Va.-based enterprise software management company. Press Release

CIT GAP Fund Invests in Bent Systems
The Center for Innovative Technology (CIT) today announced a $70,000 convertible debt investment by its GAP Fund in Bent Systems, Inc., a Fairfax, Va.-based company. Press Release

CIT GAP Fund Invests in Tau Therapeutics
The Center for Innovative Technology (CIT) today announced that its GAP Fund would invest $100,000 in Tau Therapeutics, LLC, a University of Virginia spin-out focused on the chronic treatment of cancer. Press Release

CIT GAP Fund Invests in Airak
The Center for Innovative Technology (CIT) today announced that its GAP Fund invested $50,000 in Airak, Inc., a Virginia Tech spin-out developing optical sensing technology for medium voltage power distribution. Press Release

CIT Awarded $1.8 Million Grant for Coastal Observation
The Center for Innovative Technology (CIT) announced today that it has been awarded a $1.8 million National Oceanic and Atmospheric Administration (NOAA) grant to continue Coastal Observation, a program that uses sensor technologies to monitor in real-time the influence of the Chesapeake Bay on nearby coastal ocean margin ecosystems. Press Release