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CIT Investment Director, Jen O’Daniel, to Speak at Alberta Innovates Symposium

O’Daniel will join other technology leaders and experts in Calgary to discuss future trends in cyber security

October 10, 2018 –The Center for Innovative Technology (CIT) is pleased to announce that Jennifer O’Daniel, Investment Director, will speak at the 2018 Alberta Innovates Future of Cyber Security Symposium in Calgary. In support of Cyber Security Awareness Month (CSAM), an internationally recognized campaign held each October to advocate for the importance of cyber security, the symposium targets cyber security stakeholders interested in gaining deeper industry knowledge and the opportunity to network.

O’Daniel is set to speak after opening remarks to share insights on future trends in cyber security, and will be followed by an outstanding line-up of speakers including Robin Winsor of Cybera, Dr. Tom Keenan of the University of Calgary, Brad Pawlak of Microsoft Canada, Ken Brizel of ACAMP, and Marius Ghinescu of Raytheon Canada. To register for the event or to see the full agenda, please click here.

When:Tuesday, October 16, 2018 from 9:00am-9:30am MT

Where: Alberta Innovates, 3608 33 Street Northwest, Calgary, AB, Canada

What: The Future of Cyber Security Symposium

The future of cyber security is interwoven with emerging trends in information and operating technologies. Our lives and the devices on which we rely are becoming increasingly interconnected, including personal goods as well as industrial, commercial, and government systems. Most of the data will reside in the cloud, and most processes will be automated with reduced user control and access. This will lead to incredible societal progression, but also a new cyber threat environment that we are only beginning to appreciate. With the escalating pace, complexity, diversity, and impact of cyberattacks, it is clear that we need more sophisticated resources, tactics, and strategies to address this issue.

Who: Jennifer O’Daniel, Investment Director, CIT

Jennifer O’Daniel joined CIT GAP Funds in 2003, where she leads seed and early stage investments in tech companies for CIT GAP Funds, concentrating on cybersecurity and enterprise software. As part of the investment team, she has led or been part of over 100 investments in seed and early stage companies. O’Daniel also leads investments for MACH37, a cybersecurity accelerator. She is the co-founder and managing director of VT Investor Network (VTIN) a 75+ member angel group that invests in Hokie-led startups. O’Daniel holds a Bachelor of Science in Information Technology and a Bachelor of Science in Management from Virginia Tech.




CIT Investment Director Marco Rubin to Speak at 2018 Global Security Exchange

Panel discussion will cover the good and bad of developments in unmanned aircraft and drone technology as part of GSX “D3 Xperience” Track

September 25, 2018 –The Center for Innovative Technology today announced that Senior Investment Director, Marco Rubin, will speak at the 2018 Global Security Exchange (GSX) in Las Vegas. Formerly known as the ASIS International Annual Seminar and Exhibits, GSX is one of the most comprehensive security events in the world, uniting cyber and operational security professionals from across the private and public sectors to explore the current and future security landscape, exchange ideas, expand global connections, and experience new innovations. Rubin began his career as an engineer at NASA Johnson Space Center where he trained and certified astronauts and flight controllers to operate spacecraft, and is scheduled to participate on the expert panel discussion, “Unmanned Robotics - What might the future hold?” on Wednesday, Sept. 26, 2018 from 3:30-4:30pm PT.

Rubin, who was recently featured on a Security Management podcast in an interview with associate editor Holly Stowell, offers insight on how startups are championing innovation in unmanned systems. He will join panelists Max Klein, VP Engineering and Product Development at SCI Technology, a Sanmina Company, and Nathan Ruff, Managing Director at Coalition of UAS Professionals as part of the D3 Xperience track covering ‘Drones, Droids, Defense’. The session will explore how UAS, popularly referred to as drones, are dominating headlines in both good and more troubling ways. Drones that can deliver medical devices to those in need, drones that bring popsicles in minutes after clicking an online order from a phone, and drones used in assassination attempts are all real world examples making recent headlines. From flights over people, to remote identification, swarm technology and surveillance, the panel will provide attendees a look at both the risks and benefits that come along with this technology.

“I am very excited to take part in this event. I believe that there are many valid use cases for UAS technology, but for these systems to be both practical and safe, it will require more education for both the general public and private businesses as well as more regulation,” Rubin said. “This panel will be a great opportunity to provide insights on a topic that I’ve been passionate about my entire career, and I am grateful to ASIS and GSX for having me!”

Rubin leads seed and early stage investments in the aerospace/UAS, energy, and software sectors for CIT, and serves as a board representative and mentor to numerous portfolio companies. Throughout his career, Rubin has invested in over 200 early-stage technology companies and has held leadership roles with funds recognized by Entrepreneur Magazine’s Annual VC 100 list. Prior to forming Exoventure, he founded Monumental Venture Partners, LLC (MVP), which invests in information security technology, software, telecommunications and medical devices. Before MVP, he ran New Ventures, MCI’s venture capital unit until the company's acquisition in 1998 where investment exits were made by Cisco and Alcatel. Previously, Rubin worked for Booz Allen & Hamilton where he served as a project leader for clients in the energy, telecommunications and information technology industries such as Mobil Oil and NASA. Rubin holds an MBA from George Washington University and a Bachelor of Science in Electrical Engineering from the University of New Mexico.

More than just a new name, GSX has elevated the event experience with modernized education, revitalized networking, and a reimagined exhibit floor that allows one to explore the current and future security landscape. GSX’s D3 (Drones/Droids/Defense) area of the expo will be showcasing counter UAS solutions (i.e. drones taking down drones), robotic demos including AI, Facial Recognition, and license plate scanning, a simulcast from Silicon Valley of a UAS thermal imaging mission, and even a small drone cage where attendees can fly UAVs themselves through an obstacle course. Now in its 64th year, the full 2018 event will run from September 23rd through September 27th. More information about GSX can be found here.




CIT GAP Funds Portfolio Company, TypeZero Technologies, Acquired by Dexcom

Charlottesville startup with U.Va. roots continues to improve and simplify the lives of people with diabetes through integrated technology

September 6, 2018 – The Center for Innovative Technology (CIT) is proud to announce that its CIT GAP Funds portfolio company, TypeZero Technologies, Inc. was acquired by Dexcom, Inc., the leader in continuous glucose monitoring for people with diabetes. In 2015, CIT GAP Funds led TypeZero’s seed round, furthering the development of the startup’s diabetes management technology that was licensed from the University of Virginia. TypeZero will continue operations out of Virginia as they enhance and accelerate Dexcom’s offering with tools to simplify diabetes management. 

TypeZero leverages more than 10 years of clinical trials, research and innovation to develop their proprietary inControl Diabetes Management Platform with the goal of improving the lives of people with diabetes, and supporting healthcare providers to make more informed decisions. To address the challenge of effectively managing diabetes in a safe and simple way, TypeZero’s inControl platform includes advisory applications for smart insulin pens and smartphone-based systems that automatically regulate insulin delivery to reduce hypoglycemia and improve blood glucose levels.  

“Since our seed investment back in 2015, TypeZero has continued to prove themselves as a leader in this field and a valuable innovator in the Commonwealth of Virginia,” said Tom Weithman, Managing Director of CIT GAP Funds.  “TypeZero is offering patients a huge advantage in the management of their diabetes by integrating treatment solutions into the technology they are already using.”  TypeZero’s software platform transforms the patient’s role in managing his or her blood glucose from hour-to-hour, active decision making and modification, to periodic supervision of a trustworthy, automated, intelligent system. TypeZero has also developed a suite of cloud-based applications and analytical services, which utilize its core algorithms to provide risk analysis, prediction, and clinical recommendations.

“The inControl system allows users to spend less time managing their diabetes, and more time living their life. We are excited to join Dexcom’s portfolio and expand on our shared mission of empowering people with diabetes through innovation,” said Chad Rogers, CEO of TypeZero. “CIT’s early support of TypeZero played an important role in the company reaching this next chapter, and we look forward to sharing this journey with our Virginia network as we continue to grow and reduce significant burdens that many people with diabetes face.”

CIT GAP Funds, a family of funds placing equity investments in Virginia-based technology, life science, and cleantech companies, has invested in over 200 high-potential, early-stage companies likely to achieve rapid growth and generate significant economic return. Since it’s 2005 formation, CIT GAP Funds has infused an additional $600M+ of private placements onto the balance sheets of portfolio companies. Funds have come from over 900 different investment sources, with 80 percent including out-of-state and blue-chip funding sources from across the U.S. For more information, please visit www.cit.org.  For more information on TypeZero, please visit www.typezero.com.

About CIT GAP Funds
CIT GAP Funds makes seed-stage equity investments in Virginia-based technology, clean tech and life science companies with a high potential for achieving rapid growth and generating significant economic return for entrepreneurs, co-investors and the Commonwealth of Virginia. CIT GAP Funds’ investments are overseen by the CIT GAP Funds Investment Advisory Board (IAB). This independent, third-party panel consists of leading regional entrepreneurs, angel and strategic investors, and venture capital firms such as New Enterprise Associates, Grotech Ventures, Valhalla Partners, Harbert Venture Partners HIG Ventures, Edison Ventures, In-Q-Tel, Intersouth Partners, SJF Ventures, Carilion Health Systems, Johnson & Johnson, General Electric, and Alpha Natural Resources. For more information, please visit www.citgapfunds.org.

 



CIT GAP Funds Invests in Embody

Advancing the Treatment of Tendon and Ligament Injuries for Warfighters and Sports Medicine Patients

August 28, 2018 – The Center for Innovative Technology (CIT) announced today that CIT GAP Funds has invested in Embody, a Norfolk, Virginia based medical device company developing collagen-based products for the treatment of tendon and ligament injuries. The 757 Angels led this investment in Embody’s convertible debt round, alongside CIT and individual investors.

Over two million patients are affected by soft tissue injuries annually in the United States. Embody’s mission is to improve the standard of care for these traumatic and sports injury patients by providing products that promote faster healing and restore pre-injury performance. Embody has been funded with $12 million from the Defense Advanced Research Projects Agency (DARPA) based on the need to advance the treatment standards for warfighters and veterans.

“Embody is creating a new standard of care for sports medicine patients by leveraging biomaterials and advanced manufacturing technologies to create products to accelerate rehabilitation,” said Jeff Conroy, CEO of Embody. “Thanks to the support of CIT and 757 Angels, we will launch our first product following FDA 510(k) clearance in 2019. 757 Angels is a major catalyst of entrepreneurship in the Hampton Roads region and has been critical to the success of Embody.”

“Biotechnology, specifically the area of regenerative medicine, deserves a spotlight in 2018,” said Thomas Weithman, Managing Director of CIT GAP Funds and Chief Investment Officer at MACH37. “This industry is ripe with innovation that has the potential to significantly improve the lives of patients. We were drawn to the experience of the Embody team and their strong relationships with DARPA, the University of Virginia, Old Dominion University, Virginia’s CATALYST and 757 Angels. ”

Together with partners, CIT GAP Funds is able to provide an expanded pool of investment opportunities and capital support services than might otherwise not be available to targeted companies. Co-investing in Embody with 757 Angels, who, like CIT aims to grow and diversify the economy by supporting promising new and early stage companies, paves the way for future collaboration and supports regionally-based innovation initiatives such as increased investment opportunities for Virginia-based entrepreneurs traditionally underrepresented in venture capital.

Monique Sury Adams, Executive Director of 757 Angels, adds, “Virginia had one of the slowest growth rates in the country back in 2013, and our mission is to develop implementable initiatives that lead to a stronger and more supportive entrepreneurial environment. Working with CIT is a great opportunity to help more entrepreneurs build their business based on tried and true strategies and sound investments, and continue to grow business in the Hampton Roads area. 757 Angels is proud to add Embody to our list of investments!”

CIT GAP Funds, a family of funds placing equity investments in Virginia-based technology, life science, and cleantech companies, has invested in over 200 high-potential, early-stage companies likely to achieve rapid growth and generate significant economic return. Since it’s 2005 formation, CIT GAP Funds has infused an additional $600M+ of private placements onto the balance sheets of portfolio companies. Funds have come from over 900 different investment sources, with 80 percent including out-of-state and blue-chip funding sources from across the U.S. For more information, please visit https://www.cit.org/.


About Embody
Embody LLC is a medical device company focused on the development of implantable medical devices to treat significant tendon and ligament injuries. With the support of DARPA and leveraging our expertise in biomaterials and advance manufacturing, we are engineering implantable devices that will significantly improve patient outcomes following tendon and ligament injury. More information is available at https://embodyparts.com/.

About 757 Angels
757 Angels seeks to provide risk adjusted returns for its members and investors and to catalyze the economy. 757 Angels is a select network of over 100 business and community leaders in the Hampton Roads region, who provide investment capital, strategic advice and mentoring to selected startup and early stage companies to help them achieve market leadership. 757 Angels seeks dealflow from the Commonwealth of Virginia. For more information, visit https://www.757angelsgroup.com/.

About CIT GAP Funds
CIT GAP Funds makes seed-stage equity investments in Virginia-based technology, clean tech and life science companies with a high potential for achieving rapid growth and generating significant economic return for entrepreneurs, co-investors and the Commonwealth of Virginia. CIT GAP Funds’ investments are overseen by the CIT GAP Funds Investment Advisory Board (IAB). This independent, third-party panel consists of leading regional entrepreneurs, angel and strategic investors, and venture capital firms such as New Enterprise Associates, Grotech Ventures, Valhalla Partners, Harbert Venture Partners HIG Ventures, Edison Ventures, In-Q-Tel, Intersouth Partners, SJF Ventures, Carilion Health Systems, Johnson & Johnson, General Electric, and Alpha Natural Resources. For more information, please visit www.citgapfunds.org