Richmond, VA, Sept. 11, 2020 (GLOBE NEWSWIRE) -- The Center for Innovative Technology (CIT) Board of Directors today announced Bob Stolle as the organization’s Chief Executive Officer and President of CIT. Stolle previously served as CIT’s Senior Vice President of Policy and Regional Initiatives as well as the head of CIT’s Entrepreneurial Ecosystems Division.
“Virginia’s entrepreneurship community has grown tremendously during Ed Albrigo’s tenure at CIT, and we are grateful for his dedicated service to our Commonwealth,” said Governor Ralph Northam. “I am pleased to welcome Bob Stolle to lead the agency and its efforts to advance our innovation economy.”
“On behalf of the CIT Board of Directors, I wish to thank Ed Albrigo for his outstanding leadership,” said Michael Steed, CIT Board Chairman and Founder and Managing Partner of Paladin Capital Group. “Ed has had a transformational impact on CIT and the Virginia innovation ecosystem from launching new innovative programs in technology and industry areas critical to Virginia, to launching the Virginia Founders Fund to ensuring that Virginia companies continued to receive over 4 million dollars in vital funding during COVID through CRCF, GAP, Smart Communities, and Unmanned Systems programs.”
CIT and the new Virginia Innovation Partnership Authority (VIPA) are in great hands,” said Ed Albrigo, outgoing CIT CEO. “I am thrilled that the CIT Board appointed Bob Stolle as the new CIT President. Bob knows CIT, the VIPA legislation, VIPA budget, and the key stakeholders for VIPA and CIT very well. Our communities and CIT staff highly respect Bob. There is no better choice for the new CIT President.”
Representing CIT, Bob currently serves on the GO Virginia Guideline Workgroup, he is on the executive committee of the University-Based Economic Developers (UBED), the GENEDGE Alliance, and is on the Boards of eight regional technology Councils in Virginia. He co-chaired “Technology, Innovation & Startups” for the Virginia Chamber’s “Blueprint Virginia” strategic plan, and he serves on the Investment Advisory Board for the Launch Place Seed Fund in Danville.
Mr. Stolle has also served in several key positions for the Commonwealth of Virginia during the administration of Governor George Allen, including Secretary of Commerce and Trade, where he was responsible for 15 state agencies and promoting economic and community development in the Commonwealth. He also served on the technology transitions teams for Governors Warner, Kaine, McDonnell, McAuliffe, and Northam.
Bob has an engineering degree from the US Naval Academy. He served on active duty and in the Reserves as a Navy pilot and retired with the rank of Commander.
About the Center for Innovative Technology (CIT)
Investing for Commonwealth Growth | CIT concentrates on the early commercialization and seed funding stages of innovation, helping innovators and tech entrepreneurs launch and grow new companies to create high-paying jobs throughout the entire state of Virginia. Founded in 1985, CIT, a nonprofit corporation, has been a primary driver of advocating for innovation and entrepreneurship in the Commonwealth. CIT accelerates next-generation technologies and technology companies through commercialization, capital formation, and market development initiatives. Our programs include | CIT GAP Funds | Commonwealth Research Commercialization Fund (CRCF) | Virginia Founders Fund | Broadband/Rural Broadband | Smart Communities | Cybersecurity | Unmanned Systems | SBIR/STTR Support (Small Business Innovation Research (SBIR) & Small Business Technology Transfer (STTR) programs) | University Partnerships | Startup Company Mentoring & Engagement on behalf of Virginia Entrepreneurship & Economic Development. CIT’s CAGE Code is 1UP71. Contact: 2214 Rock Hill Road #600, Herndon, VA 20170 | 703.689.3000 | www.cit.org | You can also follow CIT on Twitter, LinkedIn, and Facebook.
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