CIT Engages Kent Murphy to Explore, Grow Cyber Market Opportunities

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Experienced entrepreneur tasked with leveraging Virginia’s public-private cyber assets.

CIT

Center for Innovative Technology

The Center for Innovative Technology (CIT) announced today the appointment of Kent A. Murphy, Ph.D. as its Cyber Security Entrepreneur-in-Residence to explore company formation and growth opportunities for Virginia companies and universities engaged in cyber security research, products and services.

In making the announcement, Pete Jobse, CIT President and CEO, said, “We know that investments in cyber security solutions are growing exponentially. Kent is an experienced researcher and entrepreneur who can help the Commonwealth develop a solid plan to generate opportunities and stimulate growth in this market space.”

Jobse, who was an early executive in cyber security leader ArcSight, which was later acquired by HP, said that Murphy will focus on analyzing current research initiatives at universities and labs. These initiatives will be integrated with public and private sector needs to create “an environment that fosters creativity, entrepreneurship and fully develops these opportunities into high growth cyber security product companies.”

Earlier this year, Governor Bob McDonnell released a report, “Virginia’s Innovation Ecosystem: The Trusted Leader in Growing Cyber Security Solutions,” that highlights the Commonwealth’s integrated public-private cyber security assets. At Governor McDonnell’s request, the General Assembly included $1 million in the biennium budget for CIT to develop a strategic plan and implement an ecosystem to expand the Commonwealth’s presence in the cyber security market.

As the Founder and CEO of Luna Innovations Incorporated, Murphy is a recognized leader in transitioning science into products. He built and sold three companies and took Luna Innovations public on the NASDAQ in June of 2006.

Murphy has over 25 years of experience with technological development and entrepreneurship, beginning work in the fiber optics field in 1978 with ITT. From 1990 to 2010, he founded and served as the Chairman and Chief Executive Officer of Luna Innovations, based in Roanoke, Va.

A recipient of numerous awards, Murphy was named Outstanding Industrialist of the Year by then-Virginia Governor Mark Warner in 2004. He has over 200 publications, 40 journal papers and 35 patents.

Murphy served as a tenured professor in Virginia Polytechnic Institute and State University (Virginia Tech)’s Bradley Department of Engineering. He holds a BS in Engineering Science and Mechanics an M.S. and Ph.D. in Electrical Engineering, all at Virginia Tech.

About the Center for Innovative Technology, http://www.cit.org
CIT is a nonprofit corporation that accelerates the next generation of technology and technology companies. CIT 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, CIT creates partnerships between innovative technology startup companies and advanced technology consumers. Its CAGE code is 1UP71.

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