Virginia Innovation Partnership Corporation (VIPC) is a nonprofit corporation that accelerates the next generation of technology and technology companies. VIPC creates new technology companies through capital formation, market development and revenue generation services. To facilitate national innovation leadership and accelerate the rate of technology adoption, VIPC creates partnerships between innovative technology startup companies and advanced technology consumers.

VIPC, which began as the Center for Innovative Technology (CIT) in 1985, creates technology-based economic development strategies to accelerate innovation, imagination, and the next generation of technology and technology companies. VIPC, a non-profit corporation, bridges gaps at the earliest stages of the Innovation Continuum.

Through commercialization and seed funding VIPC helps entrepreneurs launch and grow high-growth technology companies and create high-paying jobs for the future. VIPC helps facilitate national innovation leadership and an accelerated rate of technology adoption through partnerships with innovative technology start-up companies and advanced technology consumers. 

The Virginia Innovation Partnership Corporation (VIPC) is the operating non-profit of the Virginia Innovation Partnership Authority (VIPA).¹⁾

November 16, 2021

Richmond, VA The Center for Innovative Technology (CIT), known for its efforts to grow and diversify Virginia's economy by investing in and accelerating innovation, commercialization, and entrepreneurship for more than 35 years, announced today that it has completed a major rebranding. CIT will now be known as the Virginia Innovation Partnership Corporation (VIPC) and will function as the nonprofit operating arm of the Virginia Innovation Partnership Authority (VIPA).

CIT's name and brand change to VIPC reflects a new era in the prioritization of innovation and entrepreneurship in the Commonwealth. The new Authority consolidates and builds on an existing foundation of successful programs and regional ecosystems that are key elements in Virginia’s strategy to nurture emerging technologies and create high-tech startups and jobs.

The brand change came as a direct result of extensive research and stakeholder outreach to identify strategies for Virginia to maintain a leadership position in this important sector of our economy. That process included town hall meetings across the Commonwealth engaging with nearly 1000 participants and survey respondents; meetings with 65 organizations, from chambers of commerce and tech councils to accelerators and angel networks; 3 work sessions with 172 business and educational leaders; and input from every major state research university, tech transfer office, community college. Additionally, SCHEV, Senate Finance, and House Appropriations, in consultation with the existing Boards and staff of CIT, drafted legislation that created the Virginia Innovation Partnership Authority (VIPA). ²⁾