Established in 2005 and organized as an operating division of the Center for Innovative Technology, a Virginia 501c(3), CIT GAP Funds places equity investments in Virginia’s high-growth potential science and technology-based companies. Underwritten by an annual appropriation from the Virginia General Assembly, CIT GAP Funds functions as a double-bottom-line investment fund focused on creating significant economic outcomes for entrepreneurs and co-investors, evergreen funding capacity for the Center for Innovative Technology and spill-over economic development benefits for the Commonwealth of Virginia. A leading early stage investor in the Roanoke-Blacksburg region, CIT GAP Funds is staffed by a seasoned venture investment team with a proven track record of rigorous due diligence, prudent capital deployment and sustained value creation and return realization from its investments in early stage technology companies. CIT GAP Funds typically deploys $100-200K in early stage transactions with limited follow-on investment capacity.
The CIT GAP Funds Team
Pictured left to right. Front row: Sean Mallon, Tom Weithman, Veronica Waters, Dan Henderson. Back row: Marco Rubin, Jen O’Daniel, Alex Euler, Dan Mindus
Thank you, CIT GAP Funds, for sponsoring the VT KnowledgeWorks Entrepreneurship Challenge!
The VT KnowledgeWorks Sixth Annual Entrepreneurship Challenge is taking place on Friday, April 18, 2014, at The Inn at Virginia Tech and Skelton Conference Center, Blacksburg, Virginia.
Event attendees will start the day observing entrepreneurs hoping to establish a new venture in Blacksburg using their Virginia Tech-owned technology. Entrepreneurs will compete for the $100,000 award of mentorship and business support services in the Tech Transfer Challenge, including:
- Hydrokinetic Energy Systems – Gary Nave, Mark Stremler, Saikat Basu, and Tyler Michael. The proposed venture is aimed at commercializing a robust system for on-demand harvesting of clean, renewable energy from tides and rivers using a unique kilowatt-scale system for off-grid applications.
- LIN System – Boris Vinatzer and Lenwood Heath. The LIN System revolutionizes classification, identification, and naming of life forms.
- pheno-CHIP – Elliot McAllister, Dr. Rafael Davalos, and Steve Turner. pheno-CHIP is a pre-commercial cell identification platform.
- P&P Coating – Atieh Haghdoost and Mehdi Kargar. P&P Coating is a Virginia Tech spin-off formed around the patent pending technology platform of low-cost porous coatings completely made of earth-abundant metals.
In the afternoon, Virginia Tech student teams will compete in the Student Business Concept Challenge for $10,000 in scholarships, start-up services, and the opportunity to compete on a world stage in August for the $25,000 VT KnowledgeWorks Global Challenge Award including:
- DealAdder – Abhishek Dube
- Detect-C – Siddhartha Roy
- L8 Magnetic/Kinetic Toy – Alireza Borhani and Negar Kalantar
- Project OrganiCo – Steven Zimmerman, Sebastian Walker, Don Choi, and John Lucas
- Vestigo – Joe Acanfora, Paul Feagan, and Jeff Morris
For the first time at the Entrepreneurship Challenge, teams competing in the Student Business Concept Challenge will be eligible to win the People’s Choice award, where members of the audience will select their favorite team to win $5,000 in scholarships.
The cost to attend this full-day event including the competitions, luncheon, and reception is only $30 for students and $50 for everyone else. Or attend only the afternoon session for free, luncheon not included.
Win a Kindle Fire! All attendees will be entered into the raffle contest. Must be present to win. Raffle prize donated by Holiday Inn University Blacksburg.
For more information, please contact Christine Spalding at 540-443-9100 ext.3 or via email at [email protected]
VT KnowledgeWorks wants to thank our generous sponsors of the Entrepreneurship Challenge including CIT GAP Funds, Virginia Tech College of Agriculture & Life Sciences, Virginia Tech Corporate Research Center, Virginia Tech Office for Research, Virginia Tech Outreach & International Affairs, and Virginia Tech Pamplin College of Business.
VT KnowledgeWorks encourages and enables creative entrepreneurship world-wide, through innovative curriculum, local business resource centers, and a global network of cooperating regions, all focused on three essential contributors to success: clear understanding of fundamental business principles; access to timely, relevant information; and meaningful personal and corporate relationships. It is a subsidiary of the Virginia Tech Corporate Research Center, supported by the continuing confidence and enthusiasm of its clients, sponsors and friends, both corporate and individual. Its world headquarters are in Blacksburg, Virginia, USA.
VT KnowledgeWorks Sponsors
Allegheny Logistics Group, Automation Creations, Inc., BAE Systems, The Branch Group, Inc., Brown, Edwards & Company, City of Roanoke, Fox 21/27, G.J. Hopkins, Inc., Hodges, Jones & Mabry, P.C., Hutchison Law Group, Interactive Achievement, Inc., Latimer Intellectual Property Law, LLC, Meridium, Montgomery County, Virginia Economic Development Department, NetVentures, New River Valley Intellectual Property Law, Phoenix Packaging Operations, Rackspace, Shentel, StellarOne Bank, SunTrust Bank , TechLab, Third Security, Town of Blacksburg, Town of Christiansburg, Virginia Tech Corporate Research Center, Virginia Tech Outreach and International Affairs, VPT, Inc, Wordsprint