"Richmond is home to a host of business incubators, nonprofits and educational initiatives that foster innovation and creativity; we look at what they do, the projects they support and what’s on the horizon..."
“CIT is focused on the growth of innovation and entrepreneurship in all sectors of Virginia, or all regions,” says Bob Stolle, president and CEO of CIT. “We have a variety of programs that provide direct investment into early-stage companies and seed-stage investment for equity positions in early-stage startups.”
3x CIT CRCF Awardee AgroSpheres, Inc. has been named a “top 20 innovative company to watch” for 2020 by Business Worldwide magazine
Cville-based AgroSpheres, Inc. has been named a “top 20 innovative company to watch” for 2020 by Business Worldwide magazine & featured in their latest issue! Check out pp. 40-43 to learn more about what this 3x CRCF awardee is developing:
The city of Fredericksburg is partnering with the Center for Innovative Technology to make Riverfront Park a "smart" location.
Running Headfirst into the Regulations
“At DroneUp, we run head first into the rules, not away from them” - Tom Walker, CEO
Around the same time Wing was obtaining its Part 135 certification, DroneUp was testing the limits of Part 107 with funding and researchers from the Commonwealth of Virginia’s Center for Innovative Technology (CIT). At the former campus of Saint Paul’s College in Lawrenceville, Virginia, the team conducted 200 drone flights and successfully delivered 1.275-pound payload packages to 10-foot diameter targets on 1500-foot round trips using off-the-shelf commercial tech within FAA Part 107 flight rules. This Operation Last Mile exercise involved 10 pilots working through seven test scenarios, including one dubbed “E-VLOS to determine variables in performance between test operations within visual line of sight of the remote pilot in charge (RPIC), and operations where visual line of sight (VLOS) of the RPIC is occluded by terrestrial obstructions.”
Fast forward in time. DroneUp is now routinely conducting short-range final mile deliveries of COVID-19 at-home self-collection kits under Part 107. At locations in Las Vegas, Nevada, Cheektowaga, New York near Buffalo and, more recently, El Paso, Texas, DroneUp is flying home self-collection and contactless at home COVID test kits with a forty-five minute turnaround time from order placement to doorstep. In a little more than seven weeks, the company has racked up 1,340 miles, 114 flight hours in local neighborhoods and hundreds of deliveries.
The City of Roanoke, VA is working with the Center for Innovative Technology (CIT) on a flood sensor project. The city was chosen for the project by CIT due to its history of flooding and the city’s existing flood resiliency efforts.
(Fredericksburg, VA) November 20, 2020 – The City of Fredericksburg is proud to announce a partnership with the Center for Innovative Technology (CIT) for a “smart” Riverfront Park. This new park located along Sophia Street in Historic Downtown will be a significant new public space in the downtown area. It is currently under construction and, when complete, will feature Rappahannock River views with open space, event space, and a play area.
The new Board appointees are as follows:
• Jay Bellissimo, Managing Partner, IBM
• David Berteau, President and CEO, Professional Services Council
• Jennifer Chronis, Vice President, Federal, Verizon
• Ted Davies, Chief Executive Officer, Altamira Technologies Corporation
• Damon Griggs, CEO, Dovel Technology
• Craig Halliday, Chief Executive Officer, Unanet
• Diane Leopold, Chief Operating Officer, Dominion Energy
• Paul Misener, VP, Global Innovation Policy and Communications, Amazon
• Bob Stolle, President and CEO of Centers of Innovative Technology
• Doug Wagoner, President and CEO, LMI
• Dr. Gregory Washington, President, George Mason University
Investment program spanning the Commonwealth continues to drive critical technology sectors during unprecedented times
Richmond, VA, Nov. 17, 2020 (GLOBE NEWSWIRE) -- The Center for Innovative Technology (CIT) announced today that CIT GAP Funds has again been named Virginia’s most active investor by CB Insights, a developer of a tech market intelligence platform that analyzes millions of data points on venture capital, startups, patents, partnerships, and news mentions to predict future technology trends. For the sixth year in a row, CIT GAP Funds joins an impressive list of VCs in the U.S.
“CIT’s sustained commitment to investing at the earliest stages of company development positions CIT GAP Funds as a fundamental building block of the Commonwealth’s startup ecosystem,” said Virginia Secretary of Commerce and Trade Brian Ball. “Even in these trying times, CIT’s investment outcomes are a fitting tribute to Virginia’s entrepreneurial vitality, community spirit, and economic and social diversity.”
Mallon is a familiar face: He previously worked for CIT GAP Funds and has now returned to the nonprofit to lead this new division focused on strengthening programs for entrepreneurs throughout Virginia.
State of Virginia - CIT is a nonprofit corporation that invests in technology companies within the state. The Entrepreneurial Ecosystems Division is one of four the nonprofit recently created as the operating arm for the Virginia Innovation Partnership Authority. Investment, Commercialization and Strategic Initiatives make up the other three divisions.
CIT is coordinating a flood sensor pilot project that originated with the Department of Homeland Security. “And the ultimate goal would be to be able to do this throughout the Commonwealth of Virginia,” Kirby told WDBJ7.
Virginia's Center for Innovative Technology (CIT) Announces Vice President for Entrepreneurial Ecosystems
Richmond, VA, Nov. 11, 2020 (GLOBE NEWSWIRE) -- The Center for Innovative Technology announced the appointment of Sean Mallon as Vice President for its Entrepreneurial Ecosystems Division. The division is one of four recently created at CIT in its role as the operating arm for the Virginia Innovation Partnership Authority (VIPA). The other three divisions are Investment, Commercialization, and Strategic Initiatives.
CIT’s Virginia Founders Fund Invests in Mesh Intelligence to Manage the Global Food Supply Chain Risk
Food safety and supply chain solution keeps global food chain safe, predictable and flowing despite market uncertainty
Richmond, VA, Nov. 11, 2020 (GLOBE NEWSWIRE) -- The Center for Innovative Technology (CIT) today announced that Virginia Founders Fund (VFF) has invested in Rosslyn, Va.-based Mesh Intelligence, developer of a proactive food safety and supply chain solution to predict upcoming and evolving risks and disruptions globally to help organizations plan and act faster. Mesh Intelligence helps food organizations identify, predict, and mitigate critical food safety risks in their global food supply chain before they happen. The company plans to use this VFF capital to invest in hiring key talent, enhancing the company’s technology, building the company’s presence in Virginia.
The city has partnered with Virginia’s Center for Innovative Technology to bring specialized flood sensors to certain tributaries in the city.
Chuck Kirby with CIT says that came about thanks to ongoing efforts by the U.S. Department of Homeland Security to combat certain natural disasters – including urban flooding.
An arena wired with a range of leading-edge sensors including video, audio, particulate sensors and occupancy detectors demonstrates an essential use case
"Investments in an operating business like Micronic are countering early signals that opportunity funds are focused only on real estate deals." | ImpactAlpha, Nov. 4 – Virginia-based Micronic Technologies raised $3 million for its water purification technology. The Center for Innovative Technology’s CIT GAP Funds and The Pearl Fund led the investment, with participation from CAV Angels.
"BEYOND builds on the success of its forerunner, the UAS Integration Pilot Program (IPP), which was led by the U.S. Department of Transportation and managed by the Federal Aviation Administration (FAA). That three-year program, which ended on Oct. 25, brought together companies, research organizations, state and local governments, and federal agencies on teams focused on high-impact drone-integration projects.
Virginia’s selection for the program in 2018 kicked off two-and-a-half years of remarkable progress in a state that already had a reputation as a trailblazer in this field. The state’s team, which will continue in the BEYOND program, is led by the Center for Innovative Technology. The Virginia Tech Mid-Atlantic Aviation Partnership (MAAP), an FAA-designated UAS test site whose leadership of multiple federal drone projects has propelled the industry forward, has managed the team’s three projects in collaboration with corporate partners Dominion Energy, State Farm, and Wing..."
VIRGINIA CENTER FOR INNOVATIVE TECHNOLOGY (CIT) & ROANOKE CITY PARTNER ON FLOOD SENSORS TO IMPROVE PUBLIC SAFETY
Roanoke, VA, Nov. 03, 2020 (GLOBE NEWSWIRE) -- As the 35th anniversary of The Flood of 1985 approaches, a unique partnership has emerged to seek flood safety improvements. The Commonwealth of Virginia, through the Center for Innovative Technology (CIT), with support from the Department of Homeland Security (DHS) Science & Technology Directorate, has collaborated with the City of Roanoke in a flood sensor project. CIT has identified Roanoke as an ideal location for flood sensors in Virginia, based on the history of flooding throughout the valley and the City’s existing flood resiliency efforts. These flood sensors would provide real-time, web-based information on flooding conditions that City staff can use in a variety of ways, such as evacuating flood-prone homes, proactively closing roadways, and floodplain management.
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