Business Profile

Description: CIT is the nonprofit operations arm of the Virginia Innovation Partnership Authority (VIPA) | Founded in 1985, CIT, a nonprofit corporation, has been a primary driver of advocating for innovation and entrepreneurship in the Commonwealth. CIT accelerates next generation technologies and technology companies through commercialization, capital formation, and market development initiatives CIT GAP Funds | place equity investments in Virginia-based tech companies, mobilizing over 1,000 investors with private capital leverage of $1.1 billion. Since its inception, GAP has invested in over 240 new companies and supported the creation of more than 6,500 jobs by investing in and supporting a diverse range of sectors and industries 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 Commonwealth Commercialization Fund (CCF) | The Commonwealth Commercialization Fund, or CCF, was launched on July 1, 2020 to foster innovative and collaborative efforts in Virginia. CCF seeks technologies with a high potential for economic development and job creation and that position the Commonwealth as a national leader Smart Communities | CIT co-launched the Smart City Works accelerator, leads the Smart Communities Working Group, and funds smart cities and IOT startups SBIR/STTR | 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 Unmanned Systems | CIT leads Virginia’s ‘Unmanned Systems Center’ to establish industry support programs and attract startups and companies to Virginia