Charlottesville: New Capital for Venture Capital
The University of Virginia’s hometown has long been a hub of innovation, but in the last five years Charlottesville has exploded with entrepreneurial growth. The National Venture Capital Association recently ranked Charlottesville as the fastest-growing venture capital ecosystem in the United States.
Between 2010 and 2015, venture funding in Charlottesville jumped from $250,000 to $27.7 million invested in local companies, the organization said.
“Charlottesville is a truly vibrant start-up environment. We’ve made a great deal of progress working together as a community and as an institution and we’re looking forward to even greater success in the future.”
UVA is a driving force behind this rapid growth. Nine leading companies in Charlottesville were the primary recipients of that $27.7 million in investments; of those, six have worked directly with the UVA Licensing & Ventures Group to launch, grow and help bring University research to the commercial market. One, Neoantigenics, calls the UVA Research Park home.
“For each start-up we work with, we’re committed to helping them recruit excellent talent and build strong partnerships,” said Michael Straightiff, the Licensing & Venture Group’s executive director.
The Licensing & Ventures Group works with UVA researchers to protect their intellectual property, license University technology to independent companies and launch new businesses. They offer progressive licensing strategies, an entrepreneur-in-residence program and local office space, and recently started the UVA Seed Fund, which provides early-stage investment to selected start-ups.
– See more at: UVA Today.