Established in 2020, the Virginia Innovation Partnership Authority (VIPA) supports the life cycle of innovation, from translational research; to entrepreneurship; to pre-seed and seed-stage funding; as well as acceleration, growth, and commercialization, resulting in the creation of new jobs and company formation. The Authority provides a collaborative, consistent, and consolidated approach to assist the Commonwealth in identifying its entrepreneurial strengths, including the identification of talents and resources that make the Commonwealth a unique place to grow and attract technology-based businesses. 

The Virginia Innovation Partnership Authority (VIPA), through its operating nonprofit the Virginia Innovation Partnership Corporation (VIPC), creates technology-based economic development strategies to accelerate innovation, imagination, and the next generation of technology and technology companies.  

VIPC fuels Virginia's innovation-driven economy by amplifying entrepreneurial startup ecosystems, accelerating technology commercialization pathways, and attracting early-stage investment capital.

VIPC drives impact by equipping entrepreneurs, researchers, and ecosystem partners with critical funding, expertise, and connections. From seed-stage investment and research commercialization grants to statewide networks and public-private partnerships, VIPC builds the infrastructure that allocation innovation to thrive across the Commonwealth. 

Integrity: We treat everyone with respect, fairness, and professionalism. We honor our commitments and foster a culture of transparency, accountability, and inclusivity.  

Collaboration: We foster cohesive and inclusive collaboration across VIPC and Virginia's early-stage innovation ecosystem. By uniting our strengths and breaking down silos, we work together to achieve shared success.

Excellence: We set high standards and deliver quality in everything we do. We believe diverse perspectives are essential to enabling innovation and continuous improvement.

Innovation: We embrace innovation and a growth mindset over status quo. We continuously improve our programs and processes to meet the evolving needs of a dynamic Commonwealth.

Mission-Driven: We are driven by our mission to unleash innovation and economic development across the Commonwealth. We are action-oriented and focused on measurable, data-driven outcomes to ensure our work creates meaningful, lasting impact.

The Virginia Innovation Partnership Authority (VIPA), through its operating nonprofit the Virginia Innovation Partnership Corporation (VIPC), serves as a catalyst for seed stage economic growth in the Commonwealth by supporting and facilitating interdependent ecosystems comprised of entrepreneurial support organizations, industry, universities and government leaders who commercialize research, build new companies and create new jobs. VIPC is the commercialization and seed stage economic development driver in the Commonwealth that leads funding, infrastructure and policy initiatives to support Virginia’s innovators, entrepreneurs, startups and market development strategies. VIPC collaborates with local, regional, state, and federal partners to support the expansion and diversification of Virginia’s economy. In cooperation with the administration, industry and regional stakeholders, VIPC is committed to accelerating new economic opportunities and stimulating economic growth to the benefit of all Virginians.

Article 11. Commonwealth of Virginia Innovation Partnership Act

§ 2.2-2351. Short title; declaration of public purpose.

It is found and determined by the General Assembly that there exists in the Commonwealth a need to support the life cycle of innovation, from translational research; to entrepreneurship; to pre-seed and seed stage funding; and to acceleration, growth, and commercialization, resulting in the creation of new jobs and company formation. A collaborative, consistent, and consolidated approach will assist the Commonwealth in identifying its entrepreneurial strengths, including the identification of talents and resources that make the Commonwealth a unique place to grow and attract technology-based businesses. It is also found and determined by the General Assembly that there exists in the Commonwealth of Virginia a need to (i) promote the technology-based economic development of the Commonwealth by building, attracting, and retaining innovation and high-technology jobs and businesses in Virginia; (ii) increase industry competitiveness by supporting the application of innovative technologies that improve productivity and efficiency; (iii) attract and provide additional private and public funding in the Commonwealth to enhance and expand the scientific and technological research and commercialization at state and federal research institutions and facilities, including by supporting and working with technology transfer offices to advance research from proof-of-concept to commercialization resulting in new business and job creation; (iv) attract and provide additional private and public funding to support and enhance innovation-led entrepreneurship ecosystems and coordination of existing activities and programs throughout the Commonwealth to create new job opportunities and diversify the economy; (v) ensure promotion and marketing of Virginia's statewide innovation economy and support and coordinate regional marketing efforts to align local and statewide objectives; and (vi) close the Commonwealth's support gap through pre-seed and seed stage investments, coordination of private investor networks, and shared due diligence research.

The Virginia Innovation Partnership Corporation (VIPC) information technology is provided by the Virginia Information and Technology Agency (VITA) and third party applications/providers hosted off-site or in the cloud.

The Virginia Innovation Partnership Corporation (VIPC) employs a team with diverse backgrounds to best serve its constituents.  Staff members are required to demonstrate strong consensus-building, problem-solving, organizational planning, analytical, data- and evidence-based results, decision-making skills, as well as the ability to comprehend and communicate information effectively. VIPC is deeply committed to the professional development of its employees, emphasizing continuous improvement in both technical and soft skills to enhance performance, increase employee satisfaction, and prepare staff or future growth. Training opportunities are available to all employees, including self-directed learning and targeted programs informed by performance feedback. In FY2026, VIPC will continue to prioritize continuous feedback, coaching, and leadership development across the organization. Succession plans for key personnel are reviewed and updated annually to ensure organizational continuity and readiness.

The Virginia Innovation Partnership Corporation (VIPC) maintains a membership for co-working office space in Richmond (headquarters) and Norfolk, which provides access to various locations in and around Richmond, Newport News, and Virginia Beach, and leases office space in Northern Virginia to provide services consistent with the mission of the organization. Physical needs of the organization are re/evaluated annually, or more frequently as required.

Economic conditions and inability to catalyze resources that commit to a precise outcome.

In FY2025 and FY2026, the Commonwealth appropriated $132,539,319 and $42,486,085 respectively. The Virginia Innovation Partnership Authority (VIPA) base budget during the FY2025-2026 biennium is $42,486,085.

The difference in FY2025 appropriation is a one-time $90,053,234 appropriation to fund the Commonwealth's Life Science Research Diamond Initiative which appropriates funds to increase research capacity, collaboration, and commercialization by the University of Virginia's Institute for Biotechnology $46,500,000; Virginia Tech's Patient Research Center $26,500,000; Virginia Commonwealth University's Medicines for All Institute $13,000,000; and Old Dominion University's Digital Patient Model $4,053,234.

The base budget is comprised of $25,350,000 appropriated to the following independent entities under Item 115 of the 2025 Appropriation Act.

$17,500,000 to the Commonwealth Cyber Initiative (CCI) to scale and provide resources for faculty recruiting at both the Hub, Virginia Tech, and Node sites. Funds include leasing of space and establishment of the Hub by the anchoring institution and for the establishment of research faculty, entrepreneurship programs, student internships and educational programming, and operations of the Hub.

$3,750,000 to the Virginia Biosciences Health Research Corporation (VBHRC aka VA Catalyst) to contract with private entities, foundations, and other governmental sources to capture and perform research in the biosciences, as well as promote the development of bioscience infrastructure tools to facilitate additional research activities. Up to $3,750,000 may be used to develop or maintain investments in research infrastructure tools to facilitate bioscience research.

$3,625,000 to the Commonwealth Center for Advanced Manufacturing (CCAM) for rent, operating support, and maintenance; for private sector incentive grants to industry members; for university research grants; and to attract federal funds for research projects to be conducted by CCAM, including marketing, travel, grant proposal writing, business development, matching funds for federal programs, and federal research costs not reimbursable on federal research awards.

$350,000 to the Commonwealth Center for Advanced Logistics Systems (CCALS) to provide seed money for collaborative public sector projects with partners, such as the Port of Virginia, Department of Corrections, and the Virginia Department of Transportation.

$125,000 to the Virginia Academy of Science, Engineering and Medicine (VASEM) to provide technical assistance to the VIPA.

The remaining balance of $17,136,085 is comprised of the following programs administered by the Virginia Innovation Partnership Corporation (VIPC):

$5,000,000 to support the Commonwealth Commercialization Fund (CCF) to foster innovative and collaborative research, development, and commercialization efforts in projects and programs for high potential for economic development and job creation in the Commonwealth.

$3,100,000 to the Virginia Venture Partners Growth Acceleration Fund to support seed stage direct investment and other indirect investment mechanisms to foster the development of Virginia-based technology companies.

$3,000,000 for the Entrepreneurial Ecosystems Division to support and promote technology-based entrepreneurial activities in the Commonwealth, including but not limited to the Regional Innovation Fund (RIF) follow-on sustaining funding to promising entrepreneurial ecosystem projects identified by the Virginia Initiative for Growth and Opportunity (GO Virginia) Board.

$1,000,000 to support Strategic Initiative pilots determined to be high growth industries in the Commonwealth and support regional needs, including but not limited to Smart Community/Living Labs; Public Safety; federal/state flood sensor network collaboration; Advanced Air Mobility; among emerging markets including Quantum Computing.

$1,000,000 to support the Virginia Center for Unmanned Systems to serve as the catalyst for growth of unmanned and autonomous systems vehicles and technologies in Virginia. The Center establishes collaboration between businesses, investors, universities, entrepreneurs and government organizations to increase the Commonwealth’s position as a leader of the Autonomous Systems community.

The following statistics illustrate the breadth of services provided by VIPC. Statistics provided which include an * are based on mid-FY2025 data. Final FY2025 data will be available by calendar year end 2025.

The Virginia Innovation Partnership Authority (VIPA), through its operating nonprofit the Virginia Innovation Partnership Corporation (VIPC), customer base is projected to increase significantly due to program expansion in several areas to accelerate research and technology commercialization, new high-growth company formation, workforce development, pre- and seed-stage direct and indirect investment and entrepreneurial support organizations and ecosystems in the Commonwealth.

Commonwealth Commercialization Fund (CCF) fosters innovative and collaborative research, development, and commercialization efforts in projects and programs with high potential for economic development and job creation in the Commonwealth.

Virginia Venture Partners Growth Acceleration Fund supports pre-seed and seed stage direct and indirect investment mechanisms to accelerate growth of high-potential Virginia-based technology companies.

Regional Innovation Fund (RIF) provides follow-on sustaining funding to promising entrepreneurial ecosystem projects in each region that have successfully executed Virginia Initiative for Growth and Opportunity (GO Virginia) projects supporting science and technology-based entrepreneurship and ecosystem development or have actively collaborated with the VIPC Commercialization, Entrepreneurial Ecosystems, Investment, and Strategic Initiatives divisions.

Commonwealth Cyber Initiative (CCI) recruits faculty at Hub, Virginia Tech, and Node sites. In addition to talent attraction, the program has established entrepreneurship programs, an accelerator, student internships and educational programming.

Virginia Biosciences Health Research Corporation (VBHRC aka VA Catalyst) contracts with private entities, foundations, and other governmental sources to capture and perform research in the biosciences, as well as promote the development of bioscience infrastructure tools to facilitate additional research activities. Up to $3,750,000 may be used to develop or maintain investments in research infrastructure tools to facilitate bioscience research.

Commonwealth Center for Advanced Manufacturing (CCAM) provides private sector incentive grants to industry members; for university research grants; and to attract federal funds for research projects.

Commonwealth Center for Advanced Logistics Systems (CCALS) provides seed money for collaborative public sector projects with partners, such as the Port of Virginia, Department of Corrections, and the Virginia Department of Transportation.

The Virginia Innovation Partnership Corporation (VIPC) has a key role in the administration's economic development goals for Virginia - to aid Virginia's economic development organizations in the creation of new jobs, new high-growth startups, and a highly skilled workforce to meet the demands of the Commonwealth's innovation economy. Emphasis on innovation-centric entrepreneurship, scientific discovery, and engineering creativity has positioned programs under the VIPA as emerging assets to fuel economic competitiveness, workforce development, and job creation.

• Virginia's Research Diamond - advancing university research excellence and science talent recruitment.  Formed partnership with AstraZeneca, Eli Lilly, Merck, and higher educational institutions to invest $120M in advanced pharmaceutical manufacturing workforce development.


• Virginia's Lab-to-Launch - supporting technology commercialization and translational research. Formed partnership with six Virginia R1 research universities to implement a fast track license to reduce the cost of licensing intellectual property for commercialization.


• Virginia Accelerator Network - expanding entrepreneurial support and startup growth capacity.


• Virginia Invests - increasing access to investor capital.


• Earned "Exceptional" performance rating in all evaluation areas - quality, schedule (delivery), cost control, and management - for more than five consecutive years in the federal Contractor Performance Assessment Reporting System (CPARS).  This record reflects VIPC's strong financial management, data-driven decision making, and capacity to delivery large-scale, multi-stakeholder programs.


• Successful Joint Legislative Audit and Review Commission (JLARC) Science and Technology Economic Development Incentives Evaluation Report

By accelerating the seed stage innovation life cycle from research commercialization to seed stage investment to federal and state pilot program opportunities and services, the Administration will be well positioned to grow and attract talent, ecosystem partners, and companies.

Increase amount of leverage capital attracted and invested and jobs attracted, created, and retained in Virginia-based companies and in the Commonwealth.

• Invest in high growth companies and industries

By expanding and amplifying entrepreneurial ecosystem support services through best in class pre-acceleration, accelerator, mentoring, and customer development services, the success rate of small businesses will increase and robust ecosystem support systems will attract talent, grow jobs, and make Virginia the best state to grow or relocate businesses.

Catalyze, Expand and Amplify the Commonwealth's Entrepreneurial Ecosystem

• Active engagement to collaborate, partner and leverage the strengths of key stakeholder groups

Budget and program details included in the Strategic Plan above.

Budget and program details included in the Strategic Plan above.

In FY2025 and FY2026, the Commonwealth appropriated $132,539,319 and $42,486,085 respectively. The Virginia Innovation Partnership Authority (VIPA) base budget during the FY2025-2026 biennium is $42,486,085.

The difference in FY2025 appropriation is a one-time $90,053,234 appropriation to fund the Commonwealth's Life Science Research Diamond Initiative which appropriates funds to increase research capacity, collaboration, and commercialization by the University of Virginia's Institute for Biotechnology $46,500,000; Virginia Tech's Patient Research Center $26,500,000; Virginia Commonwealth University's Medicines for All Institute $13,000,000; and Old Dominion University's Digital Patient Model $4,053,234.

The base budget is comprised of $25,350,000 appropriated to the following independent entities under Item 115 of the 2025 Appropriation Act.

$17,500,000 to the Commonwealth Cyber Initiative (CCI) to scale and provide resources for faculty recruiting at both the Hub, Virginia Tech, and Node sites. Funds include leasing of space and establishment of the Hub by the anchoring institution and for the establishment of research faculty, entrepreneurship programs, student internships and educational programming, and operations of the Hub.

$3,750,000 to the Virginia Biosciences Health Research Corporation (VBHRC aka VA Catalyst) to contract with private entities, foundations, and other governmental sources to capture and perform research in the biosciences, as well as promote the development of bioscience infrastructure tools to facilitate additional research activities. Up to $3,750,000 may be used to develop or maintain investments in research infrastructure tools to facilitate bioscience research.

$3,625,000 to the Commonwealth Center for Advanced Manufacturing (CCAM) for rent, operating support, and maintenance; for private sector incentive grants to industry members; for university research grants; and to attract federal funds for research projects to be conducted by CCAM, including marketing, travel, grant proposal writing, business development, matching funds for federal programs, and federal research costs not reimbursable on federal research awards.

$350,000 to the Commonwealth Center for Advanced Logistics Systems (CCALS) to provide seed money for collaborative public sector projects with partners, such as the Port of Virginia, Department of Corrections, and the Virginia Department of Transportation.

$125,000 to the Virginia Academy of Science, Engineering and Medicine (VASEM) to provide technical assistance to the VIPA.

The remaining balance of $17,136,085 is comprised of the following programs administered by the Virginia Innovation Partnership Corporation (VIPC):

$5,000,000 to support the Commonwealth Commercialization Fund (CCF) to foster innovative and collaborative research, development, and commercialization efforts in projects and programs for high potential for economic development and job creation in the Commonwealth.

$3,100,000 to the Virginia Venture Partners Growth Acceleration Fund to support seed stage direct investment and other indirect investment mechanisms to foster the development of Virginia-based technology companies.

$3,000,000 for the Entrepreneurial Ecosystems Division to support and promote technology-based entrepreneurial activities in the Commonwealth, including but not limited to the Regional Innovation Fund (RIF) follow-on sustaining funding to promising entrepreneurial ecosystem projects identified by the Virginia Initiative for Growth and Opportunity (GO Virginia) Board.

$1,000,000 to support Strategic Initiative pilots determined to be high growth industries in the Commonwealth and support regional needs, including but not limited to Smart Community/Living Labs; Public Safety; federal/state flood sensor network collaboration; Advanced Air Mobility; among emerging markets including Quantum Computing.

$1,000,000 to support the Virginia Center for Unmanned Systems to serve as the catalyst for growth of unmanned and autonomous systems vehicles and technologies in Virginia. The Center establishes collaboration between businesses, investors, universities, entrepreneurs and government organizations to increase the Commonwealth’s position as a leader of the Autonomous Systems community.

Budget and program details included in the above-referenced Strategic Plan and 53412 Economic Development Services sections.

Budget and program details included in the above-referenced Strategic Plan and 53412 Economic Development Services sections.

Budget and program details included in the above-referenced Strategic Plan and 53412 Economic Development Services sections.

Budget and program details included in the above-referenced Strategic Plan and 53412 Economic Development Services sections.