Washingtonian Magazine recognized CIT President & CEO Bob Stolle as one of the 2021 class of Tech Titans - "a group of power players, innovators, networkers, lobbyists, and government officials who proved resilient in these uncertain times."
Our guide to the most important and innovative leaders in Washington’s digital economy.
WRITTEN BY JOSEPH GUINTO | PHOTOGRAPHED BY LAUREN BULBIN | PUBLISHED ON MAY 3, 2021
Smart City Works AnnouncesAward of New Grant byGo Northern Virginia to Support theNorthern Virginia Smart Region Initiative
Northern Virginia, April 27, 2021 – Smart City Works, with partners Washington DC ArchAngels and VA Center for Innovative Technology (CIT), announced a new grant award supporting the Northern Virginia Smart Region Initiative. The $1.9 million grant was approved by the Virginia Growth and Opportunity State Board.
Company’s solution leverages hybrid electric propulsion and aerodynamic design features to achieve longer flight times and greater productivity
Richmond, VA, April 29, 2021 (GLOBE NEWSWIRE) -- The Center for Innovative Technology (CIT) today announced that CIT GAP Funds has invested in Hampton, Va.-based Advanced Aircraft Company (AAC), an aeronautical engineering and aircraft manufacturing company that produces vertical takeoff and landing (VTOL) unmanned aerial systems (UAS) for military and commercial markets. AAC’s long endurance drones can double revenue generated per pilot for commercial UAS operators. The company will use this investment to action on its go-to-market plan and increase aircraft production rate.
"Acoustic lighthouses" broadcast sound to reduce avian collisions with manmade structures | CIT CRCF Awardee | In the News
Funding: This work was supported by the Center for Innovative Technology's Commonwealth Research Commercialization Fund award MF18-029-En (https://www.cit.org/) to JPS, by the Animal Welfare Institute (https://awionline.org/), the Virginia Society of Ornithology (https://www.virginiabirds.org/), the Williamsburg Bird Club (http://williamsburgbirdclub.org/), and the Department of Arts and Sciences at William & Mary to TJB. The funders had no role in study design, data collection and analysis, decision to publish, or preparation of the manuscript.
A SpaceX advisor and other industry figures explain why the company's NASA partnership signals a new space age as they prepare for the Artemis mission | CIT GAP Funds Marco Rubin quoted in this article
CIT GAP Funds Managing Director Tom Weithman to Participate in Valleys Innovation Council Founders and Funders Webinar Series
CIT GAP Funds Managing Director Tom Weithman to Participate in Valleys Innovation Council Founders and Funders Webinar Series
Richmond, Va. – April 19, 2021 – The Center for Innovative Technology (CIT) today announced CIT GAP Funds Managing Director, Tom Weithman, will serve as a panelist for an upcoming webinar focused on venture capital as part of the Founders and Funders Webinar Series presented by Valleys Innovation Council (VIC). The webinar, taking place Thursday, April 22 at 3:30pm ET, will feature a panel of experts from across the region discussing various types of capital and challenges that entrepreneurs and startups may encounter when seeking capital.
Tom will join speakers James Ramey, Managing Director and Fund Manager at Middleland Capital; Jason Caplain, General Partner and Co-Founder of Bull City Venture Partners; and Moderator, Fourd Kemper, M&A Attorney from Woods Rodgers Law Firm. For more information about the webinar, please click here. Registration is free and open to the public.
When: Thursday, April 22, 2021 from 3:30 PM – 4:30 PM ET
Where: Zoom – Click here to register
By 2025, TemperPack wants to be the world’s largest sustainable packaging company. Four years ago, a $12 million investment from SJF Venture marked a turning point to helping the company reach that goal, Powers said.
More early stage funding can help the next clean tech startups take off, he said.
That’s where organizations like the Center for Innovative Technology are playing a role. CIT GAP Funds has made equity investments in 16 early-stage clean tech companies since 2007, investing $50,000 to $500,000 in each company over time, said Marco Rubin, Senior Investment Director...
Startup empowers commercial real estate stakeholders to organize, secure, analyze, and share commercial floor plans all in one place
Richmond, VA, April 07, 2021 (GLOBE NEWSWIRE) -- The Center for Innovative Technology (CIT) today announced that CIT GAP Funds has invested in Virginia-based Floorwire, developer of a platform that provides commercial owners with control of their architectural data. By transforming inefficient and time-consuming workflows around storing and organizing data, Floorwire’s cloud-based solution addresses the needs of commercial landlords, architects and brokers. The startup will use this investment to enhance its technology and support its continued growth.
“Not everyone has the right tools to view CAD files or interact with architectural plans and data. With an ability to connect across a diverse set of asset management platforms and enable automation that’s not currently available on the market, Floorwire provides tools anywhere, anytime,” said Jen O’Daniel, Investment Director, CIT GAP Funds. “Floorwire is quickly growing and ready to make a splash in the commercial real estate industry. We look forward to following their journey as they continue to grow.”
Reston’s ThreatQuotient raised $22.5M amid increased enterprise attention to cybersecurity | CIT GAP Funds Portfolio Company - In the News
The cybersecurity firm took note of national VC trends as it sought funding to quicken product development and grow its engineering team. It plans to grow by 25 to 30% in the next year.
Virginia: Moving at the Speed of Innovation | Virginia Stakeholder Meeting Video | Hosted by Tracy Tynan, Director, Virginia Unmanned Systems Center at CIT - the nexus for Virginia's activity in UxS - Land, Air, Sea, and Space.
[ *The Center is responsible for instilling an entrepreneurial culture regarding Autonomous Systems across Virginia, encourage economic growth across the Commonwealth via Autonomous emergent business activities, and continue and increase the Commonwealth's position as a leader of the Autonomous Systems community. ]
CIT GAP Funds Invests in Linebird to Bring the Unmanned Systems Revolution to High Voltage Power Lines
Company’s use of unmanned aerial systems (UAS) to make contact with live power lines improves safety and reduces costs of grid maintenance and monitoring
Richmond, VA, March 24, 2021 (GLOBE NEWSWIRE) -- The Center for Innovative Technology (CIT) today announced that CIT GAP Funds has invested in Richmond, Va.-based Linebird, developer of an unmanned aerial systems (UAS) solution that makes contact with live power lines, addressing the safety concerns of grid maintenance and monitoring. Linebird is transforming the way power transmission infrastructure is inspected and maintained in a safer way with the use of drone technology. The company will use this investment to prepare its technology for product launch by the end of the year.
With recent investment from CIT GAP Funds, the Northern Virginia software company plans to embrace the virtual office trend and boost small businesses.
CIT GAP Funds Invests in AtWork Systems to Support SMBs with Solutions for Streamlined Business Operations
Company’s OneLynk platform provides end-to-end business processes and real-time analytics for government contractors
Richmond, VA, March 16, 2021 (GLOBE NEWSWIRE) -- The Center for Innovative Technology (CIT) today announced that CIT GAP Funds has invested in Herndon, Va.-based AtWork Systems, developer of a fully integrated, complete back office business solution for SMB government contractors. AtWork's OneLynk platform provides end-to-end business processes and real-time analytics, allowing business owners to focus on growing their organizations. The company will use this investment to support growth and continued technology enhancements.
CIT GAP Funds Makes Follow-On Investment in RoundlyX to Help Users Better Manage Digital Asset Portfolios
Richmond, VA, March 11, 2021 (GLOBE NEWSWIRE) -- The Center for Innovative Technology (CIT) today announced that CIT GAP Funds has made a follow-on investment in Richmond, Va.-based RoundlyX, a digital asset wealth management platform. Since its initial GAP Funds investment in May 2020, RoundlyX has expanded its service beyond the United States, with users now able to connect to any European or UK bank and round up their spare change into digital assets. The fintech startup plans to use this latest investment to support its continued user growth, which is now accelerating in response to the increased popularity in Bitcoin and other digital assets.
CIT GAP Funds Makes Follow-On Investment in Babylon Micro-Farms to Advance Sustainable Urban Agriculture
Additional funding supports company’s continued expansion into senior living and healthcare facilities
Richmond, Va. – March 11, 2021 – The Center for Innovative Technology (CIT) today announced that CIT GAP Funds has made a follow-on investment in Charlottesville, Va.-based Babylon Micro-Farms, provider of a software enabled indoor farming service. Since GAP Funds’ initial investment in 2019, Babylon Micro-Farms has pivoted to focus on indoor growing systems for hospitals, senior living communities, and schools as a result of the coronavirus pandemic. The company will use this additional funding to continue its expansion into more locations in Virginia and across the East Coast.
CIT GAP Funds Portfolio Company recognized by Fast Company - The 10 most innovative dining companies of 2021
From restaurant ordering platforms Tock and Slice to dining innovators like Panera, Chipotle, and White Castle, these companies are feeding the industry with innovation.
Thanks to its comprehensive flight test sites, miles of open roads, a long coastline with access to open water and world-class rocket launch facilities, Virginia is a natural location to support all domains in the unmanned systems (UxS) industry: air, ground, sea and space. Despite a challenging year due to a worldwide health pandemic and the sluggish economy created by the virus, UxS continued to accelerate in Virginia as the industry accomplished many new milestones and achievements.
The project to connect Stafford County like never before is well underway.
Dubbed “Smart City Test Bed,” the project to remake the county into the state’s first-ever 5G-connected community is focused on how to reduce traffic, how to predict and detect flooding, and, maybe someday, guide a tourist to get a juicy hamburger at a locally-owned restaurant.
“Smart is bigger than technology,” said Stafford County Economic Development Director John Holden.
Last summer, the county signed an agreement with the Center for Innovative Technology (CIT), Virginia’s quasi-governmental agency, promising to work together to first blanket the area around the county’s courthouse with 5G wireless technology. That work is happening now.
We are so excited to share with you that Kamana has officially joined forces with one of the nation’s leading healthcare staffing agencies, Triage Staffing.
Virginia Venture Connect | Ep 6: Forget Smart Homes, We're Talking Smart Cities | Charlottesville Business Innovation Council (CBIC) | Interview with David Ihrie, CIT Chief Technology Officer
Richmond-based startup AnswersNow has raised $1.8 million to help expand its online counseling service
A Richmond-based startup company that operates an online platform to help counsel parents of children with autism has raised $1.8 million to expand its services.
AnswersNow, which was founded in 2017, announced Tuesday that it had completed the seed funding round led by the American Family Insurance Institute for Corporate and Social Impact and Virginia’s Center for Innovative Technology.
As a result of the recent growth, Fringe has raised $2.2 million in new funding, in a round led by Sovereign’s Capital, with participation from Felton Group, Manchester Story, the Center for Innovative Technology, and angel investors, including Jaffray Woodriff. As part of this investment, the company also added longtime advisor William Boland, Senior Director of Corporate Development and Strategy at Mission Lane, to its Board of Directors.
AnswersNow recently closed a Seed Round of $1.8M lead by American Family Insurance Institute for Corporate and Social Impact and CIT with participation from Kapor Capital, Trolley Ventures, and K-Street Capital. Funds from the round are being used to fuel expansion plans, hire world class clinical talent to guide the efficacy of the services being delivered and guide marketing strategy to raise awareness of AnswersNow virtual ABA services.
David Ihrie - Innovation Partnerships for Virginia | Video | Shenandoah Valley Technology Council Luncheon Feb 2021
David Ihrie talks about CIT Smart Communities, the Virginia Innovation Partnership Authority (VIPA), and what projects might lend themselves for development in the Shenandoah Valley.
About the SVTC: The Shenandoah Valley Technology Council is a non-profit that serves technology users and creators in the Shenandoah Valley. Its members gather together for education, networking, and business development. By helping technology businesses in the area succeed and grow, the Shenandoah Valley Technology Council is an integral component of the region, helping bring high-paying technology jobs to the Valley. Website: https://svtc-va.org/
CIT Press 2020-2021