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2025 C-Suite awards large private companies 500+ employees

 

Franklin

W. TAYLOR FRANKLIN

CEO, FRANKLIN GROUP, VIRGINIA BEACH

In 2012, Franklin, his father and two other partners founded the Franklin Johnston Group after leaving S.L. Nusbaum Realty. Franklin took over the role of chief operating officer, and in 2023, he succeeded his father, Wendell Franklin, as CEO. With co-founder Tom Johnston having stepped down in 2024, the company is now known as the Franklin Group. It manages about 200 properties across 10 states and Washington, D.C., employing about 700 people. Over the past decade, the business has developed more than 10,000 new multifamily units across Virginia and North Carolina, totaling more than $1.6 billion in financed projects.

Franklin also is deeply involved in his community, including as vice chair of the Virginia Beach Development Authority board and chairman and president of the Chesapeake Bay Wine Classic Foundation board. He was tapped as 2022 King Neptune for Virginia Beach’s Neptune Festival and serves on the festival’s board. A Virginia Wesleyan University graduate, he also serves on William & Mary’s board of visitors.

“We actively seek out ways to give back, whether through partnerships, volunteer efforts or initiatives that support local growth and well-being,” Franklin says. “We are not just managing properties; we are helping shape neighborhoods and creating places people are proud to call home.”

Best advice I’ve received: Work hard, stay honest and lead with transparency. It’s straightforward, but it’s stuck with me because those values build real trust and long-term success. At Franklin Group, I strive to set that tone every day.


Hobbs

CHARLES ‘BRAD’ HOBBS

CEO, AIR CONTROL CONCEPTS, NORFOLK

The umbrella company for HVAC equipment brands in 32 states, Air Control Concepts was founded in May 2024 in a rebranding of Hobbs & Associates, Hobbs’ family-owned HVAC business started in 1984. Based in Norfolk, the business has more than 100 offices and employs 1,750 people, including more than 275 HVAC technicians. Backed by private firms Blackstone and Madison Dearborn Partners, Air Control Concepts announced its acquisition in January of Midwest Machinery, a century-old HVAC manufacturers’ sales representative.

A Virginia Tech graduate who serves on the university’s board of visitors, Hobbs is close friends with Gov. Glenn Youngkin, whom he aided with fundraising and as part of the governor’s transition team. Hobbs also has lent significant support to area nonprofits, including the American Heart Association’s Hampton Roads branch, Norfolk Christian Schools and Virginia Beach’s Neptune Festival.

Hobbs says that Air Control Concepts has a culture “deeply rooted in the family business my father founded over 40 years ago. These values include family first, compassion and empathy, integrity and honesty, and empowerment and accountability. We build this business first and foremost with a people-first, profit-second philosophy.”

Best advice I’ve received: It’s been said that business is a long lesson in humility. I was blessed to learn that lesson early in my career from my father. People will always work well together in an environment driven by humble leaders who desire to build as a team.


Schools

BRIAN SCHOOLS

PRESIDENT AND CEO, CHARTWAY CREDIT UNION, VIRGINIA BEACH

Having joined Chartway, one of the state’s largest credit unions, in 2008, Schools has led its growth into a $3 billion institution with more than 500 employees and over 260,000 members in Virginia, Utah and Texas. At a time when many financial institutions are closing or consolidating branches, Chartway has expanded, opening new offices in Norfolk and Virginia Beach in the past year.

Schools became Chartway’s president and CEO in 2015 and served on the National Association of Federally-Insured Credit Unions board between 2017 and 2023. Before Chartway, he worked for Chase, Capital One and Crestar banks.
A graduate of Virginia Tech and Virginia Commonwealth University, from which he earned his MBA, Schools serves as a trustee of the Chartway Promise Foundation, a nonprofit that has provided $16 million to assist children with medical problems. He also was chair of the transition board for the creation of America’s Credit Unions, which resulted from the 2023 merger of NAFCU and the Credit Union National Association.

How I foster a positive culture: I aim to be honest when it comes to the environmental forces — whether economic, pandemic, cultural or otherwise — that may create a change in the direction of how we operate, but these don’t change who we are. We are committed to the fact that the balance of well-being and productivity of our team members drives the strength of Chartway.


Setian

JULIAN SETIAN

PRESIDENT AND CEO, SOSi, FAIRFAX COUNTY

The son of SOSi founder Sosi Setian, Julian Setian joined the federal contracting company in 1994, just after graduating from Columbia University. The company was only 5 years old then and still finding its footing, but today SOSi is a major defense and tech contractor that has won more than $5 billion in federal contracts and made $200 million in acquisitions since Setian became CEO in 2001.

Although the company’s original focus was on providing language translation and transcription services for federal agencies such as the FBI and the Drug Enforcement Administration, SOSi has grown its client list to include the Department of Defense and the intelligence community. In 2011, SOSi founded Exovera, a software and data science subsidiary.

Setian and his family support many civic and business organizations in Virginia, including Cornerstones, which advocates for disadvantaged people in Fairfax County, and he sits on the executive council of the Professional Services Council. SOSi is a corporate sponsor of the Wolf Trap Foundation for the Performing Arts, and Setian’s family established an endowment to promote early childhood arts education through the foundation. He says a quote from theologian, philosopher and physician Albert Schweitzer provides words to live by: “The three most important ways to lead people are by example, by example, by example.”

How I foster a positive culture: The key is maintaining a strong identity to which employees feel connected. At SOSi, we spend a lot of time talking about who we are versus what we do. The contracting industry is saturated with service businesses. We adapt to the policy and spending changes, but remain steadfast in our long-term commitment to customers, employees and partners.


Shriver

EVAN SHRIVER

CEO, ATLANTIC CONSTRUCTORS inc., CHESTERFIELD COUNTY

In 2020, Shriver became Atlantic Constructors’ new CEO, taking over from its founding leader, Art Hungerford. An industrial and commercial contractor with offices across the state, ACI has grown significantly over the past five years. Formerly the company’s executive vice president of construction operations, Shriver led a $25 million expansion to quintuple ACI’s fabrication capabilities, building a 170,000-square-foot plant next to the company’s headquarters.
Trained as a mechanical engineer at Virginia Tech, Shriver has an MBA from James Madison University and holds certificates in lean construction and medical gas inspection, as well as being LEED-accredited. He also instituted a “[Root] Beer with the Boss” program, events where Shriver visits worksites with a cooler of root beer to share with ACI workers while having conversations.

Acquired in April by Texas-based TriplePoint MEP, ACI has worked on major projects like the restoration of Richmond’s Altria Theater, construction of a 515,000-square-foot Microsoft data center in Mecklenburg County and multiple buildings for Virginia Commonwealth University and VCU Health.

Shriver says that a quote from Mike Tyson has helped him stay prepared for life’s unexpected challenges: “Everyone has a plan until they get punched in the face.”

How I prepare my team for success: There is a major skills gap in the construction industry, so we believe strongly in providing opportunities and training for people to build a lasting career. We have programs at Atlantic to bring in people without any construction experience and give them the tools they need to succeed in our industry.


 

2025 C-Suite awards small private companies

Geller

REBECCA GELLER

PRESIDENT AND CEO, THE GELLER LAW GROUP, FAIRFAX COUNTY

After having two children, Geller decided to create something else — a law firm that enables women to be successful attorneys and moms. Since its 2011 founding, the Geller Law Group has grown to 36 attorneys serving 18,000 clients across Northern Virginia, Washington, D.C., and Maryland, with offices in Fairfax and Washington.

“I saw far too many incredibly talented women leaving large law firms because those environments just weren’t built to support working parents,” Geller says. “I knew there had to be a better way.”

Embracing work-from-home technology before the pandemic, Geller and her firm have received numerous awards for helping maintain work-life balance, including 2023 woman business owner of the year, awarded by the national chapter of the National Association of Women Business Owners. She has spoken at a press conference at the U.S. Capitol with former Speaker of the House Nancy Pelosi, advocating for women-friendly workplace policies such as paid leave, flex scheduling and telecommuting.

Geller is also very active in community service. Her firm contributes volunteer hours, money and goods to regional food banks, and it has created a “robust legal resource center” on its website for LGBTQ+ people navigating legal issues.
Best advice I’ve received: It was from a friend who told me to think of all the balls I’m juggling in life — work, family, health, community, everything — and recognize that some of those balls are made of rubber, and some are made of glass. This advice helps me take a breath, figure out what truly needs my attention in the moment and let go of the rest — at least for now.


Demeria

ROBBY DEMERIA

CHIEF CORPORATE AFFAIRS OFFICER, PHLOW, RICHMOND

The state’s first deputy secretary of commerce and trade for technology and innovation, Demeria has gone on to play a significant role in Virginia’s growing pharmaceutical hub. In addition to his role as chief corporate affairs officer for pharmaceutical manufacturer Phlow, Demeria is also founding board chair of the Alliance for Building Better Medicine, a coalition of public and private partners that are working toward developing the Richmond-Petersburg area into a hub for pharma R&D and manufacturing. In 2022, the alliance won a $52.9 million Build Back Better Regional Challenge Grant from the U.S. Commerce Department.

Phlow launched in 2020 and promptly won a $354 million federal contract to create a domestic supply chain for essential drugs and ingredients. Since then, the company has expanded to 85 employees and sent more than 1 million vials of medication to children’s hospitals as part of the Children’s Hospital Coalition.

During his time in state , Demeria helped start the Virginia Innovation Partnership Corp., an agency promoting and tech . He also served as executive director of the Richmond Technology Council and vice president of government affairs for the Northern Virginia Chamber of Commerce.

How I foster a positive culture: As a dad of young kids, I deeply believe in the importance of work-life balance, but I also recognize that the idea of “having it all” is more ideal than reality. As a leader, I try to create a culture that respects the ebb and flow. I don’t expect perfection or hustle for the sake of appearances.


ANGELA REDDIX

FOUNDER, CEO AND PRESIDENT, ARDX | ENVISION LEAD GROW | THE MUSTARD SEED PLACE, NORFOLK

The founder of Norfolk-based health care management and IT consulting company ARDX, Reddix has always stayed busy and engaged outside of work, too. In 2024, she opened The Mustard Seed Place in downtown Portsmouth, where she rents affordable business spaces to female entrepreneurs. She also runs a nonprofit known as Envision Lead Grow, which helps girls become successful entrepreneurs, and in 2022, she and her husband, Carl, donated $1.1 million to their alma mater, James Madison University, to establish the Reddix Center for First-Generation Students.

Next up is the Museum of Black Women Innovators, set to open later this year in Portsmouth next to The Mustard Seed Place.

“Across all my enterprises — whether it’s ARDX, Envision Lead Grow, The Mustard Seed Place or the Museum of Black Women Innovators — my mission is the same: to build spaces where people feel empowered, seen and supported,” Reddix says.

In addition to her degree from JMU, she has a master’s from Bowie State University and a doctorate from Oklahoma State University. Reddix founded ARDX as a health care consulting firm in 2006, and it has won federal contracts with the Centers for Medicare and Medicaid Services and employs more than 100 people. She also has served on the Norfolk State University School of Business advisory board and the United Way of South Hampton Roads’ foundation board.
A quote I live by: “If you have faith as small as a mustard seed … nothing will be impossible for you.” — Matthew 17:20. Faith, no matter how small, has the power to move mountains. I know that planting even the smallest seed of belief can grow into something world changing.


Pollack

HANNAH POLLACK

PRESIDENT, CO-FOUNDER AND CEO, NIGHTINGALE ICE CREAM SANDWICHES, RICHMOND

A former Marine and fine-dining pastry chef, Pollack is a Richmond native who launched Nightingale in 2016 with her husband and fellow chef, Xavier Meers. Starting with a limited menu and distribution area, Nightingale earned about $50,000 in its first year. But soon enough, her company grew its output of deluxe ice cream sandwiches — including banana pudding, Key lime and chocolate blackout flavors, as well as limited edition treats — and expanded beyond its backyard.
Today, Nightingale has gone national, following a 2024 distribution deal with Kroger. It also expanded along the East Coast through Whole Foods Market, in addition to selling its products in 4,500 other stores and markets. The company broke $20 million in revenue in 2024, Pollack says, and Nightingale now employs 100 people in a large production space in Richmond’s Manchester neighborhood. The sandwiches are still made in small batches, and Pollack has donated many to the Children’s Hospital of Richmond and other nonprofits.

A QUOTE I LIVE BY: “A river cuts through rock, not because of its power but because of its persistence.” It reminds her, she says, that “anything can be accomplished with enough drive and persistence, even if it takes a little time,” and she shares the quote with everyone who works at Nightingale. “We can get over any obstacle thrown our way by keeping our focus and not giving up.”

On my business’ responsibility to the community: We are always striving to be better and do better. There are so many issues impacting businesses in our region and beyond; it’s important to keep informed and be open to change. One of our core values is continuous improvement, and I take that to heart in how I run the business on a daily basis.


 

2025 C-Suite awards higher education

Conston

MARCIA CONSTON

PRESIDENT, TIDEWATER COMMUNITY COLLEGE, NORFOLK

Since 2020, Conston has led Virginia’s second largest community college, which encompasses four Hampton Roads campuses in Chesapeake, Norfolk, Portsmouth and Virginia Beach, as well as online learning programs. For the 2023-24 academic year, more than 23,000 students enrolled at TCC, up from 17,000 in 2020, and according to early reports, the college this spring saw its highest rate of enrollment growth since 2012.

Before coming to Virginia, Conston was a vice president at Central Piedmont Community College in Charlotte, North Carolina, and she started her career at her alma mater, Mississippi’s Jackson State University. With an increasing focus on the state’s community college system as a training ground for skilled workers, TCC expanded its Portsmouth-based Skilled Trades Academy in 2024, providing more space for students to learn shipfitting, electrical and HVAC skills, among other in-demand career paths. Conston also has been instrumental in TCC’s winning of $3.7 million in grants to expand educational opportunities.

Conston serves on the board of the Southern Association of Colleges and Schools Commission on Colleges’ accreditation body and chairs the Virginia Community College System’s strategic planning committee. In addition to earning bachelor’s and master’s degrees from Jackson State and Hood Theological Seminary, Conston holds a doctorate from the University of Southern Mississippi. She also has been active in civic organizations such as Virginia Beach Vision, the Hampton Roads Workforce Council and the Virginia Arts Festival board.

A quote I live by: “Be the woman who fixes another woman’s crown without telling the world it was crooked.” — Amy Morin, psychotherapist and author.


Danilowicz

BRET DANILOWICZ

PRESIDENT, RADFORD UNIVERSITY, RADFORD

In 2022, Danilowicz arrived at Radford, having served as provost and vice president for academic affairs at Florida Atlantic University and dean of Oklahoma State University’s College of Arts and Sciences. He’s made his mark in fundraising, pulling in a record $106 million for 2024’s Together campaign at Radford. He also oversaw the opening of the Artis Center for Adaptive Innovation and Creativity, the university’s largest capital construction project.

Danilowicz also has overseen an enrollment increase to more than 7,800 students in fall 2024, a one-year, 29% increase that marked the university’s second highest gain since 1975 and a turnaround after three years of declining enrollment. Much of this growth was achieved through Radford’s direct admission and tuition support initiatives, and Danilowicz also has streamlined transfers for students from eight Virginia community colleges. In 2024, Radford’s nursing school was upgraded to the College of Nursing, making Radford the only four-year public university in Virginia with a standalone nursing college. Danilowicz also has been involved in boosting economic development in the city of Radford, including adding a university economic development center, The Hub at Radford.

A graduate of Utica College of Syracuse University, England’s Open University and Georgia Southern University, Danilowicz also holds a doctorate in zoology from Duke University.

How I foster a positive culture: It starts with ensuring that every employee sees a future at the university — one where they can grow, contribute meaningfully and expand their impact over time. Equally important is cultivating a sense of pride in the organization, and supporting work-life balance is just as critical.


Miller

SCOTT D. MILLER

PRESIDENT, VIRGINIA WESLEYAN UNIVERSITY, VIRGINIA BEACH

Miller joined independent liberal-arts college Virginia Wesleyan as its president in 2015, after having served as president of West Virginia’s Bethany College, Wesley College in Delaware and Lincoln Memorial University in Tennessee. With a total of
34 years leading institutions, he’s among the nation’s most experienced university leaders.
According to Miller’s chief of staff,

Kelly Cordova, Miller has raised more than $400 million for his four institutions, and at Virginia Wesleyan, he oversaw the creation of a 10-year campus master plan, a capital campaign strategy and an academic plan while growing the university’s endowment from $53 million in 2015 to $126 million in 2021. The school also has added a campus in Tokyo in partnership with a Japanese university and constructed the new Virginia Museum of Contemporary Art at VWU.

A Philadelphia native, Miller has degrees from West Virginia Wesleyan College, the University of Dayton and Vanderbilt University, and received his doctorate from Union Institute & University. Miller, who worked as a journalist early in his career, also is known for penning op-eds on occasion for The Virginian-Pilot, HuffPost and other publications. Over the past two decades, he’s also been executive editor of “President to President” and “Presidential Perspectives,” online series of essays by college presidents that resulted in 22 books.

On responsibility to the university and the community: We have both a responsibility and an opportunity to contribute to the economic vitality and workforce development of the region. Through my leadership roles with Virginia Beach Vision and the Hampton Roads Chamber, we are able to deepen our institutional engagement and expand our impact.

 

2025 C-Suite awards government

BENEVENTO

JOE BENEVENTO

PRESIDENT AND CEO, VIRGINIA INNOVATION PARTNERSHIP CORP., RICHMOND

Formerly a deputy state secretary of commerce and trade, Benevento started his career at Goldman Sachs and private firm THL Partners and was managing director of an investment firm. A graduate of Cornell University and Harvard Business School, Benevento was named in 2023 interim president and CEO for VIPC, a state-funded entity that supports Virginia’s entrepreneurial ecosystem. The following year, he was made VIPC’s permanent leader.

During the past two years, Benevento launched a $100 million private sector investment initiative, Virginia Invests, focused on sourcing outside capital for state-based . Last year, VIPC also celebrated Virginia’s return to the top 10 states for investment, as the commonwealth saw $2.48 billion in VC deal value in 2023. VIPC also has helped promote the fact that there have been 10,000 high-growth startups created in Virginia since Gov. Glenn Youngkin took office in 2022.
In nominating Benevento, VIPC board member Richard Hall noted that VIPC’s CEO “constantly challenges the organization to move faster and reimagine new ways of doing things to amplify the impact we can have in the commonwealth,” as well as being a “great collaborator who works extensively with many diverse external stakeholders in a solution-oriented and nonpartisan manner.”

Benevento serves on several boards around the state, including the Northern Virginia Technology Council, the Virginia Space Grant Consortium, and the Alliance for Building Better Medicine. In a 2024 interview, Benevento wrote, “EQ (emotional intelligence) is just as important as IQ, and there’s no substitute for having a ‘degree’ in GSD — Getting Stuff Done.”


CASEY

JOSEPH CASEY

COUNTY ADMINISTRATOR, CHESTERFIELD COUNTY

Casey joined Chesterfield County as its administrator in 2016, but he’s been active in local since 1990, serving as a deputy county administrator for both Henrico and Hanover counties. A graduate of the University of Richmond, he earned a master’s degree and doctorate from Virginia Commonwealth University in public policy and public administration.

Also qualified as a CPA, Casey began his career at KPMG, one of the Big Four accounting firms. As a public servant, he has held many statewide leadership roles, including serving as president of the Virginia Local Government Management Association and the Virginia Government Finance Officers’ Association. He was also a member of the national GFOA’s executive board.

Chesterfield has seen both economic and population booms in recent years, landing major projects like Lego Group’s $1 billion toy factory, Commonwealth Fusion Systems’ nearly $3 billion commercial fusion power plant, and Danish electrolyzer manufacturer Topsoe’s $400 million manufacturing plant. Meanwhile, the county saw its population rise by 8.3% between 2020 and 2024.

Chesterfield Economic Development Director H. Garrett Hart III says Casey “possesses an extraordinary blend of strategic insight and operational expertise,” as well as “ethical leadership and unwavering integrity.” Casey also has served on several boards and councils, including the Appomattox River Water Authority and the Asian & Latino Solidarity Alliance of Central Virginia.

How I create a positive culture at work: Keep engaged and smiling, create memorable stories others can then share, and laugh at yourself with humility and self-deprecating humor.


VITHOULKAS

JOHN A. VITHOULKAS

COUNTY MANAGER, HENRICO COUNTY

A native of Greece who arrived in Virginia as an infant, Vithoulkas graduated from Henrico County’s J.R. Tucker High School in 1985 and began working for the county as a budget analyst in 1997. Since 2013, Vithoulkas has served as Henrico’s county manager, overseeing its operations, recommending a

$1 billion operating and capital budget annually to the county board of supervisors, and leading more than 4,000 employees. In 2021, Henrico County was recognized as a top workplace by the Richmond Times-Dispatch and as one of America’s Best-In-State Employers by Forbes in 2024.

A graduate of Virginia Commonwealth University and the University of North Carolina at Charlotte, where he earned a master’s degree in public administration, Vithoulkas has led multiple initiatives and programs to improve life for Henrico residents, including two bond referendums totaling more than $930 million that funded 47 capital projects.

Vithoulkas has also worked with supervisors to cap real estate taxes for older and disabled residents, and in 2023, the county opened the Henrico Sports & Events Center, which attracts sporting competitions and other events at the site of a former mall. Earlier this year, he announced plans to rebid rights to redevelop the former Best Products corporate campus into an arena-centered mixed-use development.

Best advice I ever received: My first supervisor told me, “Never fear failure. If you do not take risks, you will never fail, and if you never fail, you will never grow.” Henrico County is a laboratory for “Let’s try this,” and if something has never been done before, so much the better.

As federal cuts loom, Virginia universities redouble fundraising

SUMMARY:

  • William & Mary has had record-breaking private gifts over the past year, including $100 million for coastal and marine sciences program
  • Universities face federal funding cuts, so they are focusing even more on private
  • , Shenandoah University and U.Va.-Wise also reported record-breaking donations over the past year

This is an era when individual philanthropists are needed, says Dr. , the retired liver surgeon who has donated more than $150 million to Virginia Commonwealth University and William & Mary over the past three years.

He and many others who make major donations or solicit them on behalf of universities and nonprofit organizations are fully aware of the current national situation. Colleges are facing cuts in federal funding — totaling hundreds of millions or even billions of dollars in some cases — and that creates more pressure to seek funds from private donors, who already carry considerable weight at higher education institutions.

“I don’t know how long this push to minimize the contribution of scientific research and the way human beings are going to interact with Earth and everything that lives on Earth” will continue, Stravitz says. “The people who are degrading this and our NIH-funded researchers, for instance, I understand where they’re coming from. They’re trying to shrink big and things like that, but this isn’t the way to do it, in my opinion. And so, I think that VIMS and VCU are probably going to rely more on foundation giving.”

In February, Stravitz and his family’s philanthropic organization, the Brunckhorst Foundation, made a $50 million donation to W&M’s Virginia Institute for Marine Science (VIMS) and the Batten School of Coastal & Marine Sciences, creating a full-tuition scholarship fund for students in those programs. Stravitz says he was inspired by Hampton Roads philanthropist ‘s record-breaking gift to W&M and knew the university was seeking more funding to sustain its work in climate change research and coastal resilience.

In 2022, Stravitz made headlines for his $104 million donation to support liver research at VCU, establishing the Stravitz-Sanyal Institute for Liver Disease and Metabolic Health. A 1982 W&M alumnus who was medical director of VCU Health’s Hume-Lee Transplant Center, he is an heir to the Boar’s Head Provisions Co. fortune through his mother, the late Barbara Brunckhorst. The Brunckhorst Foundation, Stravitz says, has long supported programs focused on , one of his mother’s primary interests.

In July 2024, Batten gave $100 million to establish the Batten School and expand VIMS, including creating the state’s first undergraduate degree program in coastal and marine sciences.

In an April email answering questions about her donation, Batten wrote that the school named after her family “promises to unleash an army of young environmentalists to lead the battle in their communities, their professions, in the world at large to save our planet from the lethal effects of a changing climate.”

Batten and her family, who have made eight- and nine-figure gifts to other Virginia universities, derived their fortune from the late Frank Batten Sr., who co-founded The Weather Channel and sold it to NBC Universal and two private firms in 2008 for nearly $3.5 billion. The family owned TeleCable, Landmark Communications and The Virginian-Pilot and Daily Press newspapers, among other media properties.

A former William & Mary Board of Visitors member, Batten says that her family is “committed to the support of environmental education,” and that the university’s “location at the center of a geographical region of the United States at high risk made it an obvious choice for an investment in an undergraduate degree in marine science, the first in Virginia.”

Record-breaking year

While he recognizes the challenges facing his office and its counterparts at universities across the nation with federal funding in jeopardy, William & Mary’s senior vice president of university advancement, Matthew Lambert, is also proud of the series of blockbuster donation announcements William & Mary has made over the past year.

In addition to Batten’s $100 million gift, which marks the university’s largest ever philanthropic gift, and Stravitz’s $50 million donation, which is the largest scholarship- specific fund in William & Mary history, William & Mary also received a $30 million anonymous donation from an alumna in March 2024 to renovate and rename a building in honor of former U.S. Secretary of Defense Robert M. Gates, the university’s chancellor. This April, alums Rob and Jean Berger Estes made a $15 million donation to launch the Estes Center for Excellence in Accounting.

Rob Estes, chairman and CEO of Richmond trucking giant Estes Express Lines, happens to live near Stravitz on Richmond’s Monument Avenue, though the two didn’t discuss their donations ahead of time, Stravitz says. Typically, major donors work closely with a small group of university advancement and administrative staff, keeping their cards close to the vest until announcement time. It can take multiple years to hash out plans for a major gift.

Stravitz began discussing his donation to VIMS with President Katherine Rowe, and Derek Aday, VIMS’ dean and director, not too long after Aday joined the university in 2021.

“The first time I went to VIMS several years ago, Derek was pretty much new on the job,” Stravitz says, “but you could tell that this guy totally had his act together and had a plan. We started talking, and I guess it took about three years or so to assemble what we’ve ended up with.”

Even though William & Mary is easy to work with and is an institution with deep ties to the nation’s history and an impressive slate of alums, it hasn’t always succeeded in past years at landing big donations.

“For reasons I don’t understand, they hadn’t received a lot of large gifts,” Stravitz says. “William & Mary’s received a lot of really big gifts in the last year, which is just wonderful. I think Jane Batten has a lot to do with that, and she certainly made me realize that this was a good investment.”

Despite his family foundation’s major gifts to VCU and William & Mary, Stravitz points out that the Brunckhorst Foundation has a wide-ranging scope, contributing to more than 60 organizations nationwide. He took a leadership role in the foundation in about 2016, he says, as his mother was aging and his career in medicine was winding down.

“It has been a tremendous joy,” Stravitz says. “I get a lot out of it. I somehow have gotten thrust into a position where I have to be creative about giving the money away and make people happy. I think taking a young person and promoting interest in research, whether it’s environmental or medical research, and making it easier for them to achieve their goals … is a very good strategy.”

Private vs. public sector

Lambert says that Rowe, who became William & Mary’s president in 2018, has created a “vision where William & Mary is uniquely positioned to be a force not just for good in our local Hampton Roads area or in the commonwealth, but for the country and the world.”

That appeals to major donors who “generally want to add to the margin of excellence [and] enable transformation and change,” he says. “We very rarely are going to donors and asking them to help us solve a crisis, although we do on occasion.”

Although many universities are taking steps to comply with the Trump White House’s executive orders — particularly in dissolving diversity, equity and () offices — to protect federal funding, most expect to lose grants now or in the future as the administration cuts budgets for public health, environmental protection and international aid. Many other nonprofit institutions that receive federal grants are feeling the same pinch.

Designated an R1 research university by the Carnegie Classification of Institutions of Higher Education, William & Mary processed more than $81 million in research spending in fiscal 2023 that was sponsored by grants. According to the university’s updated federal guidelines webpage, “a significant portion of this amount” could be impacted by changes in federal policy, and it is creating plans for scenarios in which it loses up to $70 million in annual revenue.

Stravitz anticipates people in the future looking back at this period in U.S. history — “where the federal government is trying to dismantle itself” and institute deep cuts — will “realize that we made a lot of mistakes, and that was not the way to make government smaller.”

The Batten School and VIMS have approximately $100 million in active research grants from federal agencies, creating about half of its operating budget, William & Mary says. In addition to working with Virginia’s congressional delegation “to ensure that decision makers understand the value of our nonpartisan science,” the university has “developed a gap fund to provide grants and loans to principal investigators who otherwise would need to pause or terminate ongoing work.”

Right now, with some of the Trump administration’s proposed funding cuts going through the court system, universities don’t have solid answers about how their budgets will be impacted, although most public research universities expect significant federal funding cuts.

In response, some of the nation’s largest philanthropic foundations — among them the Marguerite Casey Foundation, Bloomberg Philanthropies and the MacArthur Foundation — have committed hundreds of millions to make up some of the government funding gaps, but nowhere near the billions that some large universities receive annually.

In an April 28 NPR interview, New York University finance professor Sabrina Howell noted, “No private company would take on [research] on their own because it’s really expensive… only government can fund that kind of work.”

On the higher education side of the ledger, philanthropic funding is typically tied to specific projects, meaning that institutions can’t simply shift money to a program that is suddenly unfunded. Still, donors and advancement offices at universities are doing what they can to keep projects running and address new areas of research. So, the trend of seeking out ever-bigger individual donations continues.

Over the past year, William & Mary was not the only big winner in philanthropic announcements among Virginia colleges and universities.

In May 2024, Hampden-Sydney College and Shenandoah University each received $20 million donations, among the largest ever made to their institutions. Richmond’s Endeavour Legacy Foundation pledged its gift toward renovating Hampden-Sydney’s science center to an academic center housing two departments, and Wilbur and Clare Dove’s donation will help SU build a performing and visual arts center on its Winchester campus.

The ‘s College at Wise also received its largest ever donation last year, $11.2 million, from The Bill Gatton Foundation, creating six endowed funds for scholarships and capital construction.

Lambert says that getting the message out that William & Mary is a good investment to major donors — as well as to smaller donors who can combine forces to make a significant impact — is vital for the university’s future.

And that’s true across the board for higher education, he notes: “We’ve always as a country prioritized education, and when you look at the colleges and universities in the United States, that’s still the case today, but we clearly as a sector need to do a better job of [teaching] those that are in positions of leadership in the country, as well as our fellow citizens, about the impact that our colleges and universities have on the economy, the impact they have on our workforce [and] the impact they have on our democracy.”

Is DEI done at the University of Virginia?

SUMMARY:

  • board voted to dissolve office after Trump executive order
  • However, conservative critics say university hasn’t gone far enough
  • Department of Justice issued a May 30 deadline for U.Va. to prove progress in stripping out all DEI functions at university
  • Some students, faculty and staff are concerned about impact on campus life

When she went through orientation at the start of the ‘s 2024-25 academic year, first-year student Katherine Rattray felt welcomed.

The university founded by Thomas Jefferson in 1817 as an “academical village” constructed in part by enslaved people seemed to acknowledge, “Yes, this institution was built on slavery, but at the same time we’re trying to do better,” says Rattray, who is Black.

But after U.Va.’s board of visitors voted in March to dissolve the university’s Office of , , and Community Partnerships in response to an executive order from President Donald Trump, Rattray’s feelings have changed.

“It’s already a big deterrent for students to see that there’s not a lot of diversity on campus,” Rattray says of the university’s 55% white student body. “Rescinding this, it just becomes more words than actions.”

Associate professor Jeri Seidman, chair-elect of the U.Va. Faculty Senate, says that U.Va.’s DEI office was largely focused on compliance with Title IX and Title XI anti-discrimination laws. Photo by Jay Paul

U.Va. is far from the only public university that has dissolved its DEI office in recent months. George Mason University, James Madison University, Virginia Tech, Virginia Commonwealth University and other universities across the nation have done the same, with university administrators and board members saying they didn’t have much choice in the matter, as their institutions stood to lose significant federal funding if they fought the White House on the issue.

For some observers, the Trump administration’s war on DEI represents a backlash against racial progress made following the 2020 police murder of George Floyd in Minneapolis, which sparked widespread protests and pledges for societal change. Many businesses and universities subsequently hired DEI professionals to help diversify their staffs, among other measures.

Although U.Va.’s DEI office was founded in the 1990s, when its primary focus was to raise graduation rates of Black students, the university’s board of visitors voted in 2020 in favor of an initiative to double the number of racially diverse faculty members and to pursue a more diverse student body.

After the board’s vote to dissolve the office this March, Gov. Glenn Youngkin said in a statement, “The Board of Visitors voted for common sense, saying ‘no’ to illegal discrimination and ‘yes’ to merit-based opportunity. DEI is done at the University of Virginia.”

In April, board members followed up by rescinding the 2020 diversity resolution.

Despite these actions, conservative critics say U.Va.’s administration hasn’t gone far enough.

President Jim Ryan “is not going to do anything if the board doesn’t hold his feet to the fire. He’s going to do nothing,” says former U.Va. board member Bert Ellis, a Youngkin appointee who was the board’s most vocal opponent of DEI. Ellis was so vocal, in fact, that Youngkin ousted him from the board in April partly over his outspokenness.

Meanwhile, the U.S. Department of Justice has gotten involved, alleging that U.Va. is not doing enough to dismantle its DEI apparatus and issuing its president a compliance deadline.

Word on the Grounds

“In hindsight, I’m not sure that the DEI office was the right title for it because it felt like a lot of what it did was either legal compliance or really just trying to build community within the faculty, within the students, within the community,” says Jeri K. Seidman, associate professor of commerce and chair-elect of U.Va.’s faculty senate. “Not necessarily anything that was singling any particular group out, but rather just trying to create welcoming relationships amongst all of the stakeholders.”

As at other public universities that receive federal funding, U.Va.’s DEI office also served as an umbrella for departments responsible for compliance with federal laws, including Title XI, which aims to prevent racial discrimination at colleges, and Title IX, which opposes gender discrimination in everything from college athletics to campus rape investigations.

U.Va.’s DEI office also housed the Starr Hill Pathways program, a college and career pipeline initiative for and students in grades seven through 12.

Also, notes engineering professor Keith Williams, since the Supreme Court’s 2023 ruling overturning affirmative action in college admissions, U.Va. has already pivoted its focus on helping students based on merit and financial need, rather than race or ethnicity.

“We already knew that our challenge was to reach out to the students, particularly in Southwest Virginia and Richmond. That’s been our challenge as long as I’ve been there,” says Williams, former director of U.Va.’s Clark Scholars program, which aims to recruit more underrepresented students into STEM fields.

The loss of the DEI office’s support in that mission, he says, “certainly makes it harder. I do think that it’s our job now, it’s our task to step up and to communicate better with students and make them feel welcome here, regardless of where they come from.”

Despite the U.Va. DEI office’s three-decade history, the focus on diversity, equity and inclusion at Mr. Jefferson’s University reached an apex following national racial justice protests in summer 2020, when U.Va.’s board of visitors endorsed several recommendations by a university racial equity task force, including an effort to double the number of faculty members from underrepresented racial, ethnic and gender groups by 2030 and to aim for a student population “that better reflects” the diversity of the state and nation.

The 2023 Supreme Court ruling and the current board’s April rescission sounded a death knell for these initiatives. Meanwhile, in March 2024, Youngkin signed a bill to ban all Virginia public universities from giving preferential treatment to legacy students.

Just as it’s not yet clear how these changes may impact demographics at U.Va., it’s also uncertain as to how successful the now-canceled DEI initiatives would have been at diversifying the university.

In 2016, 51% of all first-year applicants offered admission to U.Va. were white, a number that fell to 41.4% in 2022, while the numbers of Asian and Black students offered admission rose over that period. But in 2024, the number of Black students offered first-year admission fell from 924 students in 2023 to 633, while white, Hispanic and Asian admissions numbers increased slightly over the previous year.

Speaking from his own experience, Adrian Villanueva, a first-year engineering student, says being part of the Clark Scholars program helped him choose U.Va.

“If I wasn’t offered Clark, I don’t know that I’d be at U.Va., to be honest,” Villanueva says. “Diversity is what makes U.Va., specifically engineering, the place that it is. Different backgrounds provide different insight into different perspectives on a certain issue or topic and might even expose parts of that issue that people from a certain background might not have even considered.”

Second-year student Mara Williams, a computer engineering major, adds that student groups like the Korean Student Association, the Chinese Student Association, Black Engineers and others will now have more to do to help students feel welcome.

“There’s going to be a bigger role and importance for them to step up,” Williams says. “I worry what this message is sending to people who are not being supported anymore.”

DEI opposition

Critics of the DEI office and other university diversity initiatives say they led to unnecessary spending and prevented the hiring of people with moderate or conservative views at U.Va., among other impacts.

Broadly, the presence of the DEI office also led to members of the school community being afraid to voice any countering viewpoints, says Joel Gardner, executive director of The Jefferson Council, a conservative alumni group co-founded by Ellis.

DEI, argues Gardner, “became an overwhelming philosophy that snuck into every nook and cranny of life on the grounds,” and civil debate “became corrupted by the fact that this university became an echo chamber where most administrators and most faculty all believed the same thing.”

However, in a 2023 piece about “cancel culture” and the argument that conservative-leaning students and faculty members are self-censoring, Ryan and then-provost Ian Baucom wrote, “We should be concerned about self-imposed censorship, to be sure. But we should be a lot more concerned about censorship at the hands of the government — or university leaders, for that matter. … That means protecting the rights of our faculty, students and staff to speak about ideas on which society is divided, no matter how uncomfortable it might make us.”

Stating that Ryan’s administration has “been very committed to free speech,” Seidman says that people “should not feel deterred” to continue to speak out on political topics.

And “regardless of where the [Title XI and Title IX] offices are housed, the presence of those offices and their ability to investigate and to enforce those laws is going to stay the same,” Seidman says.

In April, Ryan was one of more than 560 signers of the American Association of Colleges and Universities’ “A Call for Constructive Engagement,” a public letter condemning what it calls the second Trump White House’s “unprecedented government overreach and political interference.” The letter called for the freedom of faculty, students and university staffers to “exchange ideas and opinions across a full range of viewpoints without fear of retribution, censorship or deportation.”

Ellis says he doesn’t see any concern about Trump exerting influence on what universities may or may not teach. The president, he says, has a philosophy of, “You don’t need our money, you don’t need any of our rules, but if you need and want our money, we have some standards and some conditions that we’re gonna impose.” And Ellis adds, “I think that’s totally fair.”

Gardner, although stopping short of calling for Ryan’s resignation, expresses doubt that Ryan’s administration will do away with all diversity and equity initiatives. “In order to actually root out DEI from this university, it’s going to take a massive, massive effort and a timely effort. Unless you have an administration that takes that seriously, just not going to happen.”

In late April, a day before the special meeting of the board of visitors, the U.S. Department of Justice sent a letter to Ryan, U.Va.’s general counsel and Rector Robert Hardie stating that the university had until May 2 to produce evidence that every division of the university and its health system had dismantled DEI departments and initiatives.

Signed by U.Va. Law alumna Harmeet K. Dhillon, now head of the DOJ’s civil rights division, the DOJ letter alleges that Dhillon’s office received complaints that an internal report on U.Va.’s 30-day progress in ending DEI operations at the university after the March 7 vote had not been made public, and that U.Va.’s administration “may have failed to implement these directives.”

The same day as the DOJ letter, the Jefferson Council posted a tweet complaining that several of its researchers and allies had not been able to get a copy of the report, despite multiple FOIA requests.

Meanwhile, the university received a brief reprieve from the Justice Department, which granted U.Va. an extension until May 30 to respond regarding the university’s efforts to eliminate DEI.


University of Virginia at a glance

Founded
Sometimes called Mr. Jefferson’s University or just The University, U.Va. was founded by Thomas Jefferson in 1819. Its first board of visitors included Jefferson and fellow U.S. Presidents James Madison and James Monroe.

Campus
With roughly 1,240 contiguous acres around its UNESCO World Heritage Site campus or “Grounds,” U.Va. is known for its distinctive Jefferson-designed Rotunda building located on the Lawn, the school’s 4.5-acre grass quad where graduations are held. U.Va.’s other major holding is the University of Virginia’s College at Wise, a four-year liberal arts college in Southwest Virginia.

2024-25 enrollment
17,901 undergraduate students
8,569 graduate students
5% international undergraduates
19% international graduate students
30% minority enrollment
67% in-state undergraduate students

Employees
Approximately 3,300 full-time faculty, 7,800 full-time staff and 12,800 Health staff

Academic programs
Notable for its medicine, law and business schools, U.Va. offers more than 200 majors across 12 schools.

Tuition, fees, housing and dining

Includes average room and board, education and general fees, plus books, travel and personal expenses for general undergraduates.
In-state residents: $39,494
Out-of-state residents: $79,574

Sources: State Council of for Virginia; University of Virginia

Charlottesville nurtures biotech startups

SUMMARY:

When Neal Piper’s son, Noah, rang the bell at Children’s Hospital in December 2020, it signaled the end of grueling chemotherapy treatments connected to beeping monitors and intravenous tubes.

Five years later, Noah is a healthy third grader who will turn 9 in July, and the biotech business his dad launched, , is also thriving.

Piper, who lives in Charlottesville with his family, expects the new feeding tube system produced by Luminoah to be approved by the Food and Drug Administration by the first quarter of 2026, which would clear it to go to market.

Like other companies in Charlottesville’s rapidly growing biotechnology sector, Luminoah has a mission to “change the standard of care” through innovation, Piper says. Whether it’s through new therapeutic drugs or medical devices, dozens of startups and established companies have adopted the same refrain.

Meanwhile, the University of Virginia’s $350 million Manning Institute of Biotechnology is helping drive further growth in medical innovations, with a 350,000-square-foot building under construction and expected to be occupied in late 2026.

In 2019, Noah Piper was diagnosed with a brain tumor, and doctors told Neal Piper and his wife, Valeria, that Noah would need to get his nutrition through a feeding tube.

Neal Piper recalls seeing a rocket ship on the wall they saw each time they visited their son at the children’s hospital. Looking back on it now, Piper sees the rocket as a metaphor for his family’s journey since Noah’s cancer went into remission. Inspired to help other families and individuals facing similar challenges, Piper started Luminoah, named for his son, after conceiving of a portable tube-feeding device that’s compatible with smartphones and able to track nutritional intake.

As of May, Piper says Luminoah has raised $10 million in capital and employs 10 full-time workers. If the feeding device receives as expected in early 2026, it would allow the company to begin scaling up extensively. But that wouldn’t be possible without locally available support, says Piper, who spent 15 years in commercial health care, including at pharmaceutical giant Pfizer.

“If we weren’t in the commonwealth, and particularly in Charlottesville in this ecosystem, I think I could have just been another dad with a passing idea to make a difference,” Piper says. “I wouldn’t have had a network and support to see it through. As a result … that ripple effect can impact the lives of millions of people.”

Accelerating innovation

In April, the nonprofit CvilleBioHub opened the Commonwealth Bio Accelerator, a 6,500-square-foot lab and office space in U.Va.’s North Fork business park in designed to help new biotech companies get started. Since 2016, CvilleBioHub has supported more than 100 early-stage startups, and its executive director, Nikki Hastings, says the accelerator has room to accommodate six companies.

Tenants will have equipment and mentoring opportunities available, and once the Manning Institute opens, there will be more biotech support available just down U.S. 29 in the Fontaine Research Park.

The institute is expected to foster research on cellular therapy, gene therapy and nanotechnology while expanding U.Va.’s capacity for clinical trials.

In 2023, Albemarle philanthropists Paul and Diane Manning launched the institute with a $100 million gift to U.Va., with $150 million committed by U.Va. and $50 million by the state. In December 2023, the university broke ground on the institute’s home building, but in the meantime, it has begun hiring more scientists to conduct medical research to discover treatments for cancer, diabetes and other diseases.

Paul Manning, who started a biotech-focused private equity firm that invests in life sciences and pharmaceutical startups, has said that he hopes the institute will “transform the future of medicine.”

Meanwhile, the state’s GO Virginia economic development initiative has supported CvilleBioHub annually since 2020. The state pitched in $4.3 million for the Commonwealth Bio Accelerator, while the Mannings’ foundation, private donors and Albemarle and Charlottesville covered the rest of the $7.5 million project.

Although the new facility has limited space, Hastings says the companies primed to launch there are seeking to develop medications for lung fibrosis and genetic epilepsy, as well as a novel liquid biopsy blood sample analysis method for improved cancer detection.

“We’re trying to fill a lot of the gaps that exist in our entrepreneurial ecosystem,” Hastings says. “As companies are spinning out great research coming out of the University of Virginia, we’re asking how do we help them to make good decisions on the things that they need to do to commercialize their product and bring their ideas to market.”

Hastings and other leaders started CvilleBioHub in 2016 with several networking events. They learned quickly that there were brilliant people with innovative ideas in the community, but many of them found it difficult to connect with investors and other entrepreneurs who could help them succeed.

CvilleBioHub has helped ease that challenge for startup founders and has also encouraged more investment from the state and private sector. And the new accelerator will offer entrepreneurs another avenue for success, Hastings says.

“We’re also giving them the facilities and infrastructure that have been severely lacking in our region, to get them up and going and continuing to do their research.”

One of the more than 70 companies under the CvilleBioHub umbrella is Rivus Pharmaceuticals. Still in the clinical research stage, Rivus was established in 2019 with the goal of developing weight-loss medication that’s designed to reduce excess fat, maintain muscle mass and combat cardiometabolic diseases.

Allen Cunningham, Rivus’ co-founder and chief operating officer, has been working in Charlottesville’s biotech ecosystem for more than 20 years. He says it’s grown tremendously in the last decade as leaders like Hastings have advocated for stronger partnerships and connections, which in turn have drawn the attention of institutional investors from across the country.

“These investors are critical to fund the capital-intensive clinical development necessary to bring new therapies to patients,” Cunningham says. “With [U.Va.] and the increasing number of biotech companies in Charlottesville, there is an excellent pool of R&D resources to draw from to support the growth of companies like Rivus and others in our community.”

Big biotech

While pharmaceuticals and medical devices compose large parts of the biotech sector, the industry broadly spans the realm of life sciences. Through research on animal and plant cells, biotech has the potential to unlock breakthrough discoveries for disease-resistant crops, renewable energy sources and cancer treatments.

A recent example of biotech at work was the rapid development of mRNA vaccines for COVID-19, which helped immunize millions of people against the pandemic virus after it emerged in 2020.

In Virginia, around 3,400 biosciences companies employ a total of more than 30,000 people, according to Virginia Bio, a nonprofit state trade association based in Richmond.

As the number of biotech companies in Virginia leaped by 50% between 2019 and 2023, the industry’s average annual wage has increased to $107,000, making it one of the state’s highest-paying industries. Overall, biotech contributes $8.4 billion to the state economy, according to industry studies.

While Boston and North Carolina’s Research Triangle are famous for their biotech prowess, biotech trade publication GeneOnline ranked the Maryland-Virginia-Washington, D.C., region as the nation’s third best region for the industry in 2024, with Charlottesville and the Manning Institute specifically touted.

Virginia Bio CEO John Newby concurs, saying that Virginia biotech entrepreneurs benefit from proximity to the state’s wealth of research universities and hospitals, defense contractors, military bases and the federal government.

“It’s just a rich environment to find opportunities in life science and biotech,” Newby says. “Looking at this through the lens of a young professional looking to start her career or as she progresses, she doesn’t have to stay in just one silo. She doesn’t have to stay in the private sector. She can go to the government sector or a regulatory agency. She can go to Capitol Hill if she wants to do policy. You can do all that in this region.”

Industry leaders in Charlottesville have been at the forefront of advocating for stronger business relationships and mentoring by formalizing the “biohealth [hub] concept,” and stand out as leaders for the rest of the state, Newby says. “They were the first ones to do it, and they’ve done quite a good job.”

‘Collaborative community’

Often, biotech innovators are driven by experience and needs. Two of the Mannings’ children required specialty medical care and Luminoah founder Neal Piper started Luminoah after his son’s cancer diagnosis.

“He would spend most of the day at U.Va.’s Children’s Hospital getting chemo, and he would come home and all he wanted to do is play with his twin sister, but instead, he was tethered to an IV pole,” Piper recalls. “That meant he had to sit on the couch getting fed for up to six hours, and then he was also attached overnight, doing overnight feeds. And so, his quality of life was completely turned around as a result of needing this therapy.”

Piper knew he could do something about it and saw an opportunity to leverage his professional background and connections. That’s how Luminoah began.

“I’ve found that each chapter of a journey in life enables you to get confidence and really build on muscle memory,” he says. “You can have knowledge based on experience, but you really need a strong reason to drive innovation forward. And those two came together for us.”

Will Mauldin, CEO and co-founder of Rivanna Medical, started his medical imaging company in 2010 as he was completing a doctorate in biomedical engineering from U.Va.

Originally from North Carolina, Mauldin came to Charlottesville with the idea of starting his own business. Rivanna Medical has since created advanced ultrasound equipment and imaging software for administering epidural anesthesia.

“I found that U.Va. was a place where I was most likely to be successful,” Mauldin says, explaining why he chose to study there. “As far as innovation and , the setup at U.Va. was really strong for me.”

With a product already in the marketplace, Rivanna Medical continues to grow as the federal Department of Health and Human Services awarded it a $30.5 million grant in 2023 to develop a new ultrasound-based device to detect bone fractures in wrists and ankles.

Mauldin says the advancement would help emergency personnel manage triage in a mass casualty blast, but it could also have an application in urgent care clinics, as technicians could check for broken bones with the equipment.

As one of the more established biotech startups in the Charlottesville area, Mauldin has seen how CvilleBioHub has strengthened an already robust entrepreneurial ecosystem. He’s also been able to share some of his wisdom and experience with new startup founders, counseling them on how to strategize timelines and account for extended clinical trials or regulatory processes.

“We went through all those first initial steps, and I would definitely do it differently if I did it again. So, I’m very happy to share that,” Mauldin says. “We have a very collaborative community. I think we all see the benefit of that.”


Charlottesville at a glance

Widely known as home to Thomas Jefferson’s Monticello estate and the University of Virginia, the Charlottesville region is located about 65 miles west of Virginia’s state capital. The city was founded in 1762, with the Jefferson-designed U.Va. campus founded 57 years later. The region is popular for vineyards, breweries and distilleries, as well as for access to the Blue Ridge Mountains. The area’s largest industries include higher education, health care, defense, hospitality and tourism.

Regional population*
Charlottesville: 51,743
Albemarle County: 117,790
Buckingham County: 16,736
Fluvanna County: 28,382
Greene County: 21,717
Nelson County: 14,788
Orange County: 38,778

Major employers
University of Virginia/UVA Health
Albemarle County
Sentara Health
City of Charlottesville
U.S. Department of Defense
Northrop Grumman
Crutchfield Corp.
CFA Institute

Major attractions
Monticello
, the home of America’s third president and author of the Declaration of Independence, is a UNESCO World Heritage Site that draws visitors from around the globe. You can see the distinctive Jefferson-designed Rotunda at U.Va. Another must-see for history-minded visitors is Highland, the Albemarle estate of President James Monroe. Charlottesville’s Downtown Mall is a good place to visit for eating, shopping and socializing. Take in the natural beauty of the surrounding Blue Ridge Mountains along Skyline Drive and the Blue Ridge Parkway and at Shenandoah National Park. Hikers will savor Instagram-worthy views from Spy Rock and Humpback Rocks. Take a break from picking apples and peaches at Carter Mountain Orchard with live music and apple cider doughnuts. Or take a tasting tour through area wineries like Jefferson Vineyards, Trump Winery, Blenheim Vineyards and Pippin Hill Farm & Vineyards.

Major convention hotels
Boar’s Head Resort
22,000 square feet of meeting/event space;
168 guest rooms and suites
Kimpton The Forum Hotel
22,000 square feet of meeting/event space;
208 guest rooms and suites
Omni Charlottesville Hotel
12,441 square feet of meeting/event space; 205 guest rooms and suites

Boutique/luxury hotels
Albemarle Estate at Trump Winery
The Draftsman
Graduate Charlottesville
Keswick Hall
Oakhurst Inn

Notable restaurants
C&O

French, candorestaurant.com
Ivy Inn
American fine dining, ivyinnrestaurant.com
Oakhart Social
Seasonal American, oakhartsocial.com
The Spot
Gus Burgers and fries, thespotuva.com
The Ridley
Southern, ridleyva.com

*July 2024 population estimates from University of Virginia Weldon Cooper Center for Public Service based on 2020 U.S. Census Bureau data

AI startup boom ‘here to stay’ in Virginia

SUMMARY:

  • The number of -related in Virginia has spiked in recent years.
  • Virginia’s concentrations of tech talent and data centers bolster AI startups. 
  • Founders of AI startups need to differentiate their companies to impress funders.

 

Virginia’s talent makes it a natural fit for AI-related startups, says founder and CEO Blake Hall. Photo courtesy ID.me

The introduction of OpenAI — and disruption of DeepSeek — have fundamentally changed how existing businesses operate. Indeed, nearly half of chief information officers, chief technology officers and other tech leaders report was fully integrated into their companies’ core business strategies — and a third said AI was fully integrated into products and services, according to a 2024 report by PricewaterhouseCoopers.

But at the forefront of AI-fueled innovation are companies that are paving the way so other businesses can operate more efficiently.

Between April and June 2024 alone, investors poured more than $27 billion into AI startups in the U.S., according to startup tracker PitchBook.

“The AI train is leaving the station, [and] you need to be on it,” Tom Loverro, general partner with firm IVP, wrote in a post on X in June 2024.

Zooming into Virginia, it’s “no surprise” there has been a “pretty big spike” in the number of AI-related startups during the past couple of years, says Jason Chen, CEO and executive director of Tysons cyber-focused startup accelerator .

There is no one industry that’s been left out of the AI startup boom in Virginia, Chen says.

“It’s everything from to cybersecurity to data governance, you name it,” Chen says. “I couldn’t tell you that there was one specific subsector that seems to be jumping out in particular to us, at least within Virginia.” And in terms of investment, Chen says most of the Virginia-based AI startups his firm tracks have landed seven or eight figures in funding during the past couple of years.

Among Southern states, Virginia also ranks third in terms of deal flow for AI-related startup companies, according to a 2024 report by venture capital firm Valor Ventures. Virginia ranks among Texas and Florida, which boast data centers and military installations.

“Virginia’s entrance into the top three lends credence to the national trend of enterprise SaaS being the largest AI-augmented sector so far as cities such as Alexandria and Herndon are home to enterprise SaaS-focused startups,” according to the report.

Some of the most popular AI startup sectors in the South include enterprise SaaS, digital health, cybersecurity, retail, supply chain and logistics, the report shows. Enterprise SaaS and cybersecurity are the biggest AI startup sectors in Virginia, according to Valor.

The AI boom is here to stay for now, says Beth Burgin Waller with law firm Woods Rogers Vandeventer Black. Photo by Don Petersen

Virginia’s cyber web

Blake Hall, founder and CEO of McLean-based verification service company ID.me, says Virginia is a natural fit for founding AI-related startups due to the state’s deep bench of cybersecurity talent.

In contrast to all of AI’s positive traits, bad actors can use these tools to create deepfake videos and other tricks that allow hackers to gain access to sensitive information or just confuse the public. Experts can ward off such misdeeds.

“There’s a lot of cybersecurity talent in this particular area that makes D.C. and Virginia really well-suited to be on the bleeding edge of protecting against some of the ways that unethical people will use AI tools to try to hurt folks,” Hall says. “It very much is a cat-and-mouse game on the AI side right now.”

Founded in 2010, ID.me serves as an example of a successful former startup that’s scaled in the era of AI innovation. Over the past decade and a half, ID.me has grown to become an AI-powered verification network for several federal agencies, including the IRS, Veterans Affairs, the Social Security Administration, the U.S. Treasury and the FBI. As of late 2024, ID.me was valued at $1.8 billion.

Hall predicts the AI startup space in Virginia will continue to grow, particularly as enemy nation-states continue to build up their own AI.

“There are other nation-states that don’t share American values that are trying to really beat us in this race,” Hall warns. “I think it’s kind of like a new ‘Manhattan Project’ for America that actually should spur investment into the space. It’s really important that America wins and that you have AI that is infused with American values based on freedom and human rights.”

Despite the buzz brought on by DeepSeek’s debut in early 2025, it’s unlikely to be a platform or service Virginia startups use. DeepSeek, a China-based AI research lab that develops its own open-source AI models, is beginning to get banned over national security concerns, says Beth Burgin Waller, a principal attorney at Roanoke-based Woods Rogers law firm who specializes in cybersecurity and data privacy.

Gov. Glenn Youngkin issued an executive order Feb. 11 banning DeepSeek on state government devices and networks, Waller says, and “given these concerns — that are beginning to be echoed at the federal level and beyond in the private sector — I think the likelihood of any Virginia startups successfully integrating DeepSeek into their platforms or operations would be incredibly difficult.”

An AI startup founder should be able to say what is different about the company’s approach to solving a certain problem, says Jason Chen with Mach37. Courtesy photo

Still, the “AI boom is here to stay — at least in the short term,” Waller adds. Since Virginia is a leader in the technology industry, the state is “poised to play a central role” in the movement, she says.

Virginia is rich in data centers, with Northern Virginia considered the data center capital of the world, having the highest concentration of data centers globally. This makes it easier for AI startups to tap into resources other states are “racing” to build, Waller says. Plus, Northern Virginia has the second-highest tech employment rate of any U.S. metro area and has 2.5 times more computer science graduates than other tech hubs like New York City, San Francisco and Seattle, according to a November 2024 study by the Northern Virginia Technology Council.

“Between venture capital firms and large corporations like Amazon, Google and Microsoft operating themselves like VCs in this space, significant investment is being made across all areas of AI infrastructure,” Waller says. “From the energy sector and the push for expansion of data centers to the rush to innovate around processing chips — such as the quantum computing chip Microsoft announced this year — the world is in a race to create sustainable AI infrastructure.”

Systemwide development

While cybersecurity-related AI startups have a clear and impending impact, incubators across the state have seen an array of industries using AI.

“What I’m seeing is just how many different industries are leveraging AI,” says Morgan Evans, marketing and program manager of Startup Virginia, a Richmond-based nonprofit business incubator and entrepreneurial hub focused on high-growth businesses.

Some examples she provided were Richmond-based AI startup Rising Tide, which offers an automated platform for last-mile logistics, and Richmond-based Kinis.ai, a company that builds smart insoles that use AI to enhance athletic performance and improve wellness.

And despite Northern Virginia’s strong connection to the tech community, Evans says she’s witnessed AI startups form across the state, particularly in Central and Eastern Virginia because of the amount of entrepreneurial support in both regions.

“There’s a hope that we’re driving more and more tech-related companies — AI or not — to Richmond,” Evans says. “That’s grown a lot in the past few years. There’s a lot of people around here that want to help boost startups and connect them with the right people and the right ways to get their startups off the ground.”

The Roanoke and New River valleys and Southwest Virginia have also seen an increase in AI-related startups, says John Hagy, director of Roanoke-based startup accelerator Regional Accelerator and Mentoring Program (RAMP), which also has education offerings for startup companies.

“AI has been the biggest trend that we’ve seen,” Hagy says. “Like every company is incorporating AI in some capacity, whether that’s in the main product or in their operations. That has really been most present in some of the core competency industries of Southwest Virginia,” which include the agriculture, biomedical and national security industries.

For example, AI implementation by startups in the region has helped agriculture-focused companies produce a higher yield of crops, biomedical-focused companies identify surgical instruments and track vital signs, and security-focused companies in the region identify deepfakes and disinformation, Hagy says.

“AI has become more accessible to people, and they see the value of it against day-to-day business problems,” Hagy adds. “The reason that the startups are so secure and growing so much here in those three industries is because of the level of research. And we have the benefit locally of [agriculture] and biomed, which are large employers” in the region.

Being connected to the Virginia Tech community and its Northern Virginia hub have also helped AI-focused startups blossom in the region. Hagy says that while RAMP’s teachings are primarily focused on business fundamentals, entrepreneurial strategy and growth, the accelerator has also made a point to discuss the implications of AI with its cohorts. RAMP typically works with a partner or expert to explain to cohorts the importance and implications of AI implementation in their AI startups.

While there is interest from VC firms in providing capital to AI-related startups, Startup Virginia’s Evans also says it’s still a challenge to find capital for early-stage companies.

“That’s always just a struggle in general,” she says.

Proceed with caution

The promise of AI is exciting — but expensive. While large, well-funded companies have the manpower and resources to more quickly implement AI, smaller companies and startups have a steeper hill to climb.

Still, “there’s no reason to believe yet that the AI race will be winner-take-all,” according to an October 2024 article in Harvard Business Review about whether startups can survive in the age of AI. “There is still room for scrappy startups to eat away at market share.”

And while many companies have started to tout implementing AI into their products, services and operations, there are varying degrees to which the technology is being used. To stand out as an AI startup, it’s important to really be able to articulate the problem the company is solving and what is different or proprietary about the way the company is approaching a certain problem, Hall says.

“If you have good answers to those questions, then generally, investors and VCs are going to be predisposed to want to invest in your company,” Hall says.

While not trying to cast doubt, Chen with Mach37 says nearly all of the companies his firm tracks are trying to or claiming to incorporate some degree of AI into their solution.

“It is certainly a trend where I think the early-stage companies — and even growth-stage companies — have recognized the influence and impact that AI is now having across all of business, all industries,” Chen says. “If we were making investments, we’d be doing some pretty deep due diligence to see how strong the AI is, whether or not the AI is open source, or do they have an actual AI subject matter expert [or] an engineer on their team or not.

“You would just want to really dig deep to understand how much they really are pushing the needle.”

2025 C-Suite awards large private companies

Fowler

CALVIN W. ‘WOODY’ FOWLER

CHAIRMAN, PRESIDENT AND CEO, WILLIAMS MULLEN, RICHMOND

Fowler joined Williams Mullen more than three decades ago, and he’s currently in his fourth three-year term leading the state’s second largest law firm. With more than 260 attorneys on staff, Williams Mullen saw its profits rise from $106 million in 2013 to $195 million in 2024.

Fowler earned his bachelor’s and law degrees at the and counts among his clients several colleges and universities, health care systems and insurance companies. He was litigation chair at Williams Mullen before becoming the firm’s CEO and president in 2015. David Burton, a partner at the firm, notes that Fowler “is what you want in your CEO: He is direct, responsive and fair.” In addition to his other legal work, Fowler has served as an arbitrator and mediator in alternative dispute resolutions. Under his leadership, the firm has grown its roster of national and international clients, maintaining offices in Richmond, , Norfolk, Tysons and the Carolinas.

Fowler is also involved in several civic organizations, including serving on boards for the Virginia Chamber of Commerce and RVA757 Connects, as well as serving as former board chair and Heart Walk chair for the American Heart Association’s Richmond chapter. Fowler has been recognized by his peers annually as one of Virginia Business’ Legal Elite since 2008.

How I foster a positive culture: It’s hard to have a happy life if you don’t find satisfaction and joy in your work. We found that our employees are happier, more productive and more engaged when they clearly understand their role in supporting our strategic plan and see our progress toward meeting our goals. We do that by being very transparent about our results each month.


Halliday

CRAIG HALLIDAY

CEO, UNANET, DULLES

A tech leader whose experience extends from Oracle to Intelex Technologies, Halliday joined Unanet in 2019, driving growth at the Dulles software company. In November 2024, the company acquired Washington, D.C.-based GovPro , which provides AI-powered proposal-writing software for contractors, and in February, Unanet picked up Contraqer, which produces procurement and market intelligence software for the GovCon industry. Unanet also purchased Cosential, a Texas-based customer relationship management software company, in 2020.

Halliday is among 19 Virginia business leaders who are finalists for Ernst & Young’s 2025 Mid-Atlantic Entrepreneur of the Year award, with winners set to be announced June 18. And Unanet has appeared on the Inc. 5000 list of fastest-growing U.S. companies annually since 2019. Halliday also has appeared on Executive Mosaic’s Wash100 Awards list for the past three years, recognizing his prominence in federal contracting.

Acknowledging the current environment of uncertainty among government contractors, he writes, “The wave of austerity measures, tariffs and government contracting cancelations and modifications coming from Washington, D.C., has been destabilizing not just for businesses but for people. … As the head of a company, I feel I have a responsibility to our customers (many of which are government contractors) and to our employees to communicate consistently and transparently with them.”

Best advice I ever received: The best advice I ever got came early in my career from my managing partner at Arthur Andersen. He told me that you should always do what you say you will do. That’s how you earn trust from people.


Huffman

WHITSON HUFFMAN

CO-CEO AND CHIEF INVESTMENT OFFICER, CAPITAL SQUARE, GLEN ALLEN

One of Virginia’s fastest-growing real estate investment and development companies, Capital Square is deeply involved in Richmond’s Scott’s Addition neighborhood, where it has six multifamily properties that are expected to top out with 1,220 residential units. The Henrico County firm also manages more than $6 billion in assets, mainly in the Southeastern U.S., including a high-rise apartment tower in Raleigh, North Carolina, and major projects in Knoxville, Tennessee, and Charleston, South Carolina.

Huffman joined Capital Square, which was founded by his father-in-law, Louis J. Rogers, as chief strategy and investment officer in 2018, and in 2022, he was named co-CEO. Huffman was instrumental in starting Capital Square Living, the firm’s property management branch, and the company has taken 33 Delaware statutory trusts (DSTs) full cycle since 2018, resulting in 169.15% average total returns, with an average 12.89% rate of return to investors. He previously was an associate with Maryland real estate investment trust JBG Smith Properties.

Huffman also has raised money for the Children’s Tower at the Children’s Hospital of Richmond at VCU, and has volunteered for the March of Dimes, World Pediatrics and the National Multiple Sclerosis Society.

A quote I live by: My grandfather always told me, “No one can take the ultimate weight of decision-making off your shoulders. But the more you know about how things really are, the lighter the burden will be.” Learning is essential. Continuous exploration and analysis are essential. Decision-making can feel like a weight, but nothing is insurmountable with the right knowledge and the right team in place.


Schmuckler

JOSEPH SCHMUCKLER

CEO AND MANAGING DIRECTOR, CARY STREET PARTNERS, RICHMOND

A Wall Street veteran who joined Richmond-based wealth management firm Cary Street Partners (CSP) in 2015, Schmuckler previously worked for Tokyo-based Mitsubishi UFJ Financial Group as a senior executive officer and spent 17 years at Nomura Holdings, gaining experience in leading securities and capital markets worldwide. Schmuckler is a graduate of the University of Delaware and New York University, where he earned an MBA in finance. He started his career at Kidder, Peabody & Co., where he became a partner.

Since Schmuckler joined Cary Street, the company has grown from 10 to 19 offices, increasing its assets under management from $2 billion to over $10 billion and representing about 7,000 clients. In April, the firm announced that it plans to sell a majority stake to CIVC Partners, a Chicago private firm. In 2022, CSP purchased Atlantic Union Bank’s registered investment adviser (RIA) subsidiary, Dixon, Hubard, Feinour & Brown, for $1.6 billion, and Atlantic Union bought a minority stake in Cary Street.

Schmuckler says that accountability and leading by example are two of his pillars of leadership, as well as addressing mistakes when they occur.

On success: When we thrive, we’re able to reward our people and their families, offering competitive pay, benefits and more. Success also enables us to create career opportunities for our current team, as well as for others in the community who might not have access to these chances otherwise.

OurView: What’s fueling your startup dream?

Welcome to the third annual edition of StartVirginia, our special issue dedicated to Virginia’s entrepreneurial ecosystem. Born from the monthly StartVirginia page in Virginia Business, this expanded yearly issue explores , small businesses, and the fast-moving trends shaping them.

Even amid market volatility and Big Tech’s shifting fortunes, is powering bold new ideas — including those of several Virginia entrepreneurs featured in this year’s featured story.

And in our annual Elevator Pitch feature, you’ll meet 12 standout founders from across the state, representing ventures from to snack foods to fusion power, all making their case for why their next big idea deserves investments.

This issue also examines alternate paths — from search funds to franchising — and offers practical insights, like how to stress test your business model. Plus, we’ve included updated charts on , early stage funders, top VC deals and a list of Virginia’s leading and accelerators.

Whatever your startup vision, you’ll find the inspiration and resources here to help launch it.

Richard Foster
Associate Publisher & Editor
Virginia Business Media