Virginia’s 35-year old Center for Innovative Technology (CIT) has a new name.
Focused on growing and diversifying the Commonwealth’s economy by investing in and accelerating innovation, commercialization, and entrepreneurship, CIT is now known as the Virginia Innovation Partnership Corporation (VIPC) and will function as the nonprofit operating arm of the Virginia Innovation Partnership Authority (VIPA).
Programs managed by the VIPC include Programs include: (1) GAP Investment Funds; (2) Commonwealth Commercialization Fund; (3) Virginia Founders Fund; (4) Smart Communities; (5) Unmanned Systems; (6) Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) support programs; (7) Entrepreneurial Ecosystems; (8) Regional Innovation Fund; (9) University Partnerships; and (10) start-up mentoring and engagement.
Click here to learn more. Ironically, one of the first investments from the rebranded CIT is one in RegScale, a spinout from C2 Labs that has its R&D operations in Knoxville. Click here to learn more about that announcement.