 (Updated at 11:55 p.m.) More than 100 people have signed up to compete in Virginia’s inaugural Smart City Challenge, and organizers expect more to join in the coming weeks. The proceedings kicked off on Saturday (Jan. 23) with remarks from Virginia Gov. Ralph Northam and panel discussions on how technology could be used to address societal challenges, from COVID-19 and natural disasters to the availability of healthy food and efficiency of traffic lights. The month-long competition will conclude on Feb. 18 when participants pitch projects designed to improve modern communities by tackling issues in housing, transportation, health, education, and other sectors.  Named Virginia’s most active investor by CB Insights for the past six years, CIT GAP Funds’ investments have helped create more than 6,500 new jobs in the Commonwealth in the last 15 years, it reported this month... By Michelai Graham / STAFF  The Virginia Unmanned Systems Center at CIT would like to thank The Virginia legislature and many others for support in establishing the Commonwealth as a national leader in the Unmanned Systems Industry – land, sea, air, and space (UxS). Evidence of that leadership is provided by Business Facilities Magazine, which ranked Virginia as the top state in the nation for unmanned aerial systems two years in a row for "unmanned systems leadership, facilities, and industry connections, both military and civilian." The following short video provides insights on UxS from government and business leaders in Virginia.  Financing will support development of novel IL-2 treatments for various diseases CHARLOTTESVILLE, Va., Jan. 19, 2021 /PRNewswire/ -- Slate Bio, Inc., announced today the closing of a $1.75 million venture financing. Epidarex Capital led the investment round with participation from the UVA Licensing & Ventures Group Seed Fund, Center for Innovative Technology's GAP BioLife Fund, VTC Seed Fund, PharmaDirections, Inc., management and others.  By Kaitlynn R. Copinger | January 19, 2021, 09:56am EST A Virginia nonprofit organization wants to help young companies in strategically important industries commercialize their technology and create jobs in the commonwealth. The Center for Innovative Technology believes a new fund will help them do just that. The Commonwealth Commercialization Fund recently kicked off its first funding round with a plan to disperse $7 million in grants of up to $100,000 in 2021.  The CCI Technology Advisory Board inaugural members are: (from top left) Elisa Bertino, Tracy Gregorio, David Ihrie, and Jim Mollenkopf; (from bottom left) Melur “Ram” Ramasubramanian, Zachary Tudor, Sennur Ulukus, and Dan Woolley. The Commonwealth Cyber Initiative (CCI) has tapped top cybersecurity leaders to provide strategic guidance as part of its inaugural Technical Advisory Board. “The inaugural members represent some of the highest levels of industry, academia, and government and bring a wide array of experience and expertise, including running large research groups and developing innovation programs, said Luiz DaSilva, CCI executive director. “They’re also strong advocates for the initiative and their expertise will help us develop programs to further enhance cybersecurity workforce development and innovation within the commonwealth.”  Cloud-based dust accumulation monitoring system will help prevent fires and explosions in manufacturing, industrial and agricultural processing facilities Richmond, VA, Jan. 14, 2021 (GLOBE NEWSWIRE) -- The Center for Innovative Technology (CIT) today announced that Virginia Founders Fund (VFF) has invested in Williamsburg, Va.-based Industrial Intelligence, developer of a continuous dust accumulation monitoring system. Industrial Intelligence’s solution alerts organization operations when dust accumulation levels become unacceptable. The startup plans to use this VFF capital for engineering and development of their prototype, patent expenses and further certification testing.
Investments have supported the creation of nearly 6,500 jobs throughout the Commonwealth Richmond, Va. – Jan. 13, 2021 – The Center for Innovative Technology (CIT) today released the 2020 CIT GAP Funds Impact Report, detailing both return on investment and socio-economic impact achieved since the fund’s inception in 2005. A family of funds placing equity investments in Virginia’s high-growth based technology, life science, and cleantech companies at the earliest developmental stages, CIT GAP Funds has deployed $32.4 million in capital across 240 portfolio companies.  The Herndon-based Center for Innovative Technology (CIT) on Thursday opened the application process for $7 million in grant funds from its new Commonwealth Commercialization Fund, focused on promoting innovation and technology commercialization initiatives.  Up to $7 million in non-dilutive funding available for Virginia companies CIT GAP Funds is a participating VC in this study  In 2020, NASA’s Office of the Chief Technologist conducted a trade study about venture capital firms and their relationships with technology startups. The study used independent research and qualitative data from interviews with firms to develop recommendations for how NASA could increase the impact of its investments.  True to The Monthly Blend’s mission of catalyzing regional collaboration, in this Episode, we bring together the brand new CEOs of both TEDCO and CIT, mirror organizations in their respective states of MD and VA. Troy Stovall and Bob Stolle meet for the first time and share their visions for their organizations. Topics include investment, stimulating economic development, areas of focus, and diversity & inclusion. You may be surprised to hear what these leaders have to say about what’s coming for MD and VA! |
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Updated 7/28/2021