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VIPC partners with VC funds to invest $100 million in 100 startups
The Virginia Innovation Partnership Corp. is partnering with seven venture capital fund managers to invest $100 million in 100 Virginia-based startups. Through the partnership, announced May 20 by Gov. Glenn Youngkin and named Virginia Invests, VIPC will commit $40 million to the seven funds using previously awarded funding from the U.S. Treasury Department’s State Small […]
Top Five July 2024
1 | 39 Virginia companies make the 2024 Fortune 1000 Thirty-nine companies headquartered in Virginia are on Fortune magazine’s 70th annual Fortune 1000 list, with 24 Virginia companies again making the elite Fortune 500. (June 4) 2 | VDOT buys Owens & Minor’s Hanover headquarters for $33.5 million The Virginia Department of […]
Electra’s hybrid prototype aircraft takes first flight
This story was updated Dec. 1. A Manassas aircraft manufacturer that’s developing an electric short takeoff and landing (eSTOL) aircraft logged a significant milestone Nov. 19 when it completed its first hybrid-electric flight. Electra’s EL-2 Goldfinch took off from Manassas Regional Airport and flew 23 minutes, reaching an altitude of 3,200 feet and covered about […]
VIPC leader to step down
Virginia Innovation Partnership Corp. President and CEO Robert “Bob” Stolle will step down from his role in September after 13 years with the not-for-profit state corporation and its predecessor. Stolle became CEO of VIPC‘s predecessor, the Center for Innovative Technology, in 2020. Before that, he was the economic development organization’s senior vice president for operations. [&[...]
Economic Development 2023: ROBERT J. ‘BOB’ STOLLE
Editor’s note: Stolle announced his resignation on Aug. 31, after publication of the Virginia 500. A former state secretary of commerce and trade under Gov. George Allen, Stolle brings years of experience in economic development and public policy to his role leading VIPC. Formerly the Center for Innovative Technology, VIPC is a not-for-profit corporation created […]
Agtech startup to invest $25M in Albemarle expansion
Agricultural biotech startup AgroSpheres will invest $25 million to expand in Albemarle County, creating an estimated 50 jobs, Gov. Glenn Youngkin announced Thursday. The company will increase production at its facility at 1180 Seminole Trail and build a research and development and demonstration facility for new products, which will be a pilot plant for a […]
Report: Air taxis could land Va. $16B in new biz by 2045
Air taxis could generate up to $16 billion in new business in Virginia and carry as many as 66 million passengers by 2045, according to an economic impact study released Tuesday. The report, commissioned by the Virginia Innovation Partnership Corp. and the state commerce and trade secretary, forecasts short, carbon-free flights connecting cities, suburbs and rural […]
Va. receives $230M for startup, venture capital funding
Virginia has been approved for as much as $230.4 million in federal funds to accelerate startups, the U.S. Department of Treasury announced Tuesday. The money comes from the Treasury’s State Small Business Credit Initiative (SSBCI). Virginia will operate five programs, including two loan participation, one loan guarantee and two equity/venture capital programs. Loan programs include [&hellip[...]
