CIT GAP Funds Managing Director Tom Weithman to Participate in Venture Capital Panel at Accelerate 2022
Richmond, Va. – Oct. 19, 2021 – The Center for Innovative Technology (CIT) today announced CIT GAP Funds Managing Director, Tom Weithman, will serve as a panelist during Accelerate 2022. The investor conference and startup business competition, taking place Oct. 19-20, aims to spur Northern Virginia’s innovation and entrepreneurship to a new level. Accelerate 2022 will showcase the Virginia, Maryland, and metropolitan DC region as a destination for business development, venture investment, and job creation.
On Wednesday, Oct. 20, Weithman will speak on the “Trends in Venture Investing” panel, joining fellow panelists Nassir Criss, Associate at Sixty8 Capital; Aurelia Flores, Venture Partner, New Markets Venture Partners; and Steve Balestreri, Managing Director of MorganFranklin.
For more information about the full event and registration details, please click here.
We are a proud sponsor of this event. Marco Rubin, Senior Investment Director, Center for Innovative Technology (CIT) and Vice Chair of The Launch Place’s Seed Fund Advisory Board joined an esteemed panel of judges for this event.
"The Launch Place received 64 applications for its Ninth Annual Big Launch Challenge Pitch Competition from various start-up companies located in the U.S. and abroad.
The top 10 competitors took the stage and presented their innovative business ideas at the NC Biotechnology Center yesterday.
The winner of this year’s competition is LiRA, inc. who was awarded a $10,000 cash prize..."
The full panel of judges included Elaine Bolle, Lead Venture Partner, Portfolia’s Active Aging and Longevity fund and Investment Chair for RTP Capital; Tim Cartwright, Co-Founder and Partner of Fifth Avenue Family Office, Founder and Chair of the Tamiami Family of Angel Funds, Adrenaline Venture Fund, General Partner; Marco Rubin, Senior Investment Director, Center for Innovative Technology (CIT) and Vice Chair of The Launch Place’s Seed Fund Advisory Board; Louisa Smith, Managing Director, NO/LA Angel Network; and Autumn Visser, Principal, Woods Rogers PLC, The Launch Place’s legal counsel.
The City of Winchester, VA is testing drone technology to assess if using drones could be helpful in improving efficiency in several city programs. Part of the Innovative Municipalities initiative, the test scenarios will be done in collaboration with Virginia Beach-based company DroneUp, City staff, and The Center for Innovative Technology (CIT) – the non-profit operations arm of the Virginia Innovation Partnership Authority (VIPA).
“Through the Innovative Municipalities initiative and by partnering with DroneUp, The CIT, and various other organizations, the city hopes to enhance its drone program and take full advantage of the opportunities drones can provide in improving efficiency of local government operations,” said Scott Kensinger, Emergency Management Coordinator.
WINCHESTER — You may see some unusual activity in the skies above Winchester next week as the city tests the capabilities of aerial drones.
Drones are remote-controlled, unmanned aircraft used for purposes ranging from recreation to warfare. Winchester’s Emergency Management Department owns five of the devices and has 10 trained pilots that have used them for things like searching for hot spots during structure fires.
Starting Monday, the city will be conducting tests to further explore the potential uses of drones. Specifically, the tests will determine the feasibility of using drones to:
According to a media release from Rouss City Hall, next week’s tests will be conducted by the Virginia Beach-based company DroneUp in partnership with city staff and the Center for Innovative Technology (CIT), the nonprofit operations arm of the Virginia Innovation Partnership Authority.
Writen by Nick Serfass, rvatech/CEO
The Commonwealth of Virginia recently announced that 34 small technology-focused businesses in Virginia will receive a total of $3.4 million in Commonwealth Commercialization Fund (CCF) grants to commercialize research in an array of sectors. Five of those companies hold strong ties to greater Richmond. In case you’re wondering who they are and what they do, we have the answers!
Richmond, Va. – June 11, 2021 – The Center for Innovative Technology (CIT) today announced that CIT GAP Funds Managing Director, Tom Weithman, and Senior Investment Director, Jen O’Daniel, will present at the upcoming PitchPlus Clinic presented by RAMP, the regional accelerator and mentoring program. The clinic, taking place Tuesday, June 15 at 9:00am EST, will feature a panel of experts providing venture capital education to help participating startups prepare for early-stage investment opportunities.
As the direct investment program of the Virginia Innovation Partnership Authority (VIPA) Investment Division, CIT GAP Funds is a key part of the Commonwealth's strategy to leverage venture capital for Virginia-based startups. Weithman and O’Daniel will join speakers Greg Feldmann, President of Skyline Capital Strategies, LLC, and Fourd Kemper, Principal at Woods Rogers, PLC. Registration is free and open to the public.
When: Tuesday, June 11, 2021 from 9:00 AM – 12:00 PM EST
Where: Zoom – Click here to register
Startup app re-imagines job platforms, instantly connecting qualified talent with employers in retail and restaurant industries
Richmond, VA, June 10, 2021 (GLOBE NEWSWIRE) -- The Center for Innovative Technology (CIT) today announced that CIT GAP Funds, the direct investment program of the Virginia Innovation Partnership Authority (VIPA) Investment Division, has invested in Ashburn, Va.-based Capango, developer of a mobile first platform that connects qualified job seekers to work opportunities in the retail and restaurant industries, simplifying the hiring experience for employers with an easy-to-use mobile app - no resume required. The startup will use this investment to support growth plans as they continue to expand and help more employers save time and money by finding the perfect hire for each job.
From left to right: Jackson Ward Collective co-founders Kelli Lemon, Rasheeda Creighton and Melody Short - Courtesy of Jackson Ward Collective - Story By Kaitlynn R. Copinger - June 07, 2021
While some progress has been made in diversifying Richmond's startup ecosystem, Black founders say they still lack access to a crucial piece of the puzzle - capital
"Now that the Richmond ecosystem has been talking about the challenges facing Black and other underrepresented founders for more than a year, what’s changed? And — perhaps more importantly — what work remains?"
"Funding: The Crucial Piece"
"...The Center for Innovative Technology, or CIT, launched the Virginia Founders Fund in 2018 and has since directed more than $3 million toward founder who are women, BIPOC and veterans, as well as those located outside of Northern Virginia.
There are aspirational, strategic and programmatic goals throughout the Fiscal Year 2022 operating plan that are dedicated to furthering our diversity, equity, and inclusion efforts - especially in light of the national conversation about systematic racism,” spokeswoman Sara Poole
Last fall, CIT Gap Funds hosted a roundtable event to bring together BIPOC founders to discuss barriers to forming and funding minority-led startups, a discussion that is expected to yield changes going forward..."
An $800,000 investment led by the Center for Innovative Technology is giving Richmond startup RoundlyX the runway it needs to expand operations internationally.
Richmond-based RoundlyX, co-founded in 2017 by Andrew Elliott and Will Trible, closed the round in late April. In addition to CIT's investment, Elliott said the round had significant participation from Allied Venture Partners and other fintech CEOs from across the country."
“Andrew, Will, and the entire RoundlyX team have done an outstanding job over the last year preparing for widespread adoption of digital assets. The simplicity of their app allows anyone to invest in Bitcoin, and given widespread interest in cryptocurrencies as an asset class, more users will be flocking towards this service,” said Alex Euler, Investment Director, CIT GAP Funds. “With their recent expansion into global markets, RoundlyX is set up for a very successful 2021. We look forward to following their continued success." - Quote from original press release March, 2021
Richmond, Va. – June 8, 2021 – The Center for Innovative Technology (CIT) today announced that CIT GAP Funds, the direct investment program of the Virginia Innovation Partnership Authority (VIPA) Investment Division, has invested in Roanoke, Va.-based Acomhal. The biotech research company is dedicated to developing therapeutic approaches to prevent tumor recurrence. Acomhal will use this investment to continue enhancing their product as well as expanding their research development.
Stafford County and the Center for Innovative Technology (CIT) Announce Opening of the First Virginia Smart Community Testbed | Northern Virginia Bureau Chief Julie Carey reports on a new partnership between high-tech companies and Stafford County.
(News4's Northern Virginia Bureau Chief Julie Carey has been covering this side of the state since joining NBC4 in 1992. She's joined by reporter Drew Wilder.)
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/
Charlottesville Business Innovation Council | Interview - Bob Stolle, President & CEO at CIT | Center for Innovative Technology | Virginia
By Juan Melgar
August 11, 2020
Gov. Ralph Northam recently signed legislation to establish the Virginia Innovation Partnership Authority (VIPA) in an effort to boost the state’s technology aspirations.
“It is very exciting to see government working together with academia to bring technologies to market so that they benefit humankind,” Boyan said in a statement on Tuesday. “I am honored to be part of this new phase in Virginia’s economic growth.”
CIT Press 2020-2021