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Resource Guide for COVID-19 Financial Support Programs for Virginia Companies

A Letter to the Virginia Entrepreneur Community
From Ed Albrigo, President and CEO, Center for Innovative Technology
March 24, 2023

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From Ed Albrigo, President and CEO, Center for Innovative Technology
March 18, 2023

The Center for Innovative Technology (CIT) grows and diversifies Virginia's economy by investing in and accelerating innovation, commercialization and entrepreneurship.

CIT accelerates early commercialization & funding support for Virginia innovations, entrepreneurs, startups & market development initiatives. CIT concentrates on the early commercialization and seed funding stages of innovation, helping innovators and tech entrepreneurs launch and grow new companies, create high paying jobs and accelerate economic growth throughout the entire state of Virginia.

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CIT GAP Funds place equity investments in Virginia-based tech companies, mobilizing over 1,000 investors with private capital leverage of $1 billion. Since its inception, GAP has invested in over 223 new companies and supported the creation of more than 6,000 jobs by investing in and supporting a diverse range of sectors and industries.

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The Virginia Founders Fund (VFF) identifies, recognizes, supports and provides seed funding to entrepreneurs who are underrepresented in the Commonwealth. VFF focus includes targeting regions outside of Northern Virginia, and minority, women and veteran-owned startup initiatives.

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CRCF accelerates Virginia’s economic growth by supporting the commercialization of high-potential technologies at Virginia's public and private institutions of higher education, technology companies, federal labs, and nonprofit research organizations. Since its inception in 2011, CRCF has awarded nearly $28 million dollars to approximately 350 projects in support of early-stage technology development efforts in strategically important industries, leading to products launched, companies created, follow-on funding, new IP, jobs created and other important economic drivers.

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Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) CIT's Federal Funding Assistance Program identifies and accelerates opportunities for Virginia's small technology businesses to learn how to apply for and win government contracts through the federal Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs. In FY2018, CIT supported 57 of the 138 companies that received SBIR funding in 2018. These 57 companies received awards of $71M in SBIR/STTR funding, representing 50% of the total funding awarded to Virginia companies in 2018. CIT is one of 24 grantees of SBA’s Federal and State Technology (FAST) Partnership Program.

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CIT has funded innovation and commercialization initiatives at every major Virginia university in areas including, but not limited to, cybersecurity, life sciences, clean energy, unmanned systems and data analytics.

CIT leads 加速器ios across the Commonwealth through direct outreach, partnerships, grants, and information resources. We provide a robust support ecosystem for IoT and smart tech innovators via the Smart City Works actuator and several Living Labs.

The Virginia Unmanned Systems Center at CIT is the nexus for Virginia's activity in UxS - Land, Air, Sea, and Space. CIT is the primary source for information, grants, partnerships, and seed funding for UxS in the Commonwealth.

CIT provides education, mentorship, and funding to promising cyber companies through the MACH37 Cyber Accelerator. Our team invests capital, time, and resources developing the industry with a special interest in the Women in Cyber community.

We are pleased to announce, effective July 1, 2023, the Virginia Center for Innovative Technology's (CIT) Broadband initiatives are now under the Virginia Department of Housing and Community Development (DHCD).

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