CIT Announces Appointments to Innovation and Entrepreneurship Investment Authority and CIT Board of Directors

Appointments represent strong university, industry partnership to advance innovation

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CIT

Center for Innovative Technology

Herndon, Va. (PRWEB) December 05, 2012

The Center for Innovative Technology (CIT), a state-chartered non-profit organization that accelerates innovation and technology company creation, announced today two reappointments and one new appointment to its Board of Directors and to its parent authority’s, the Innovation and Entrepreneurship Investment Authority (IEIA), Board of Directors.

Newly appointed is Dr. Teresa Sullivan, President of the University of Virginia. She replaces Dr. Alan Merten, President of George Mason University, whose term expired. Reappointed are Dr. Charles W. Steger, President of Virginia Polytechnic Institute and State University, and Wayne Hunter, Managing Partner of Harbert Venture Partners.

David Lucien, Chairman of the CIT and IEIA Boards, said, “We are fortunate to have Dr. Sullivan join Drs. Steger and Rao on our Boards, collectively, they represent the leading research institutions in our Commonwealth. Working with Wayne Hunter and other business leaders on our Board, we have a strong public-private partnership that will help us and the Commonwealth create a consistent, long-term plan for prioritizing research opportunities that create new markets, new emerging technology companies and sustainable job growth.”

The 15-member Board, appointed jointly by the Governor and General Assembly, consists of:

  •     David C. Lucien, Chairman, CEO of DCL Associates
  •     Joseph P. Doherty Jr., Vice-Chairman, CEO of GCR Inc.
  •     Karen Booth Adams, CEO of Hot Technology Holdings
  •     Jim Cheng, Secretary of Commerce and Trade for the Commonwealth of Virginia
  •     James Duffey, Secretary of Technology for the Commonwealth of Virginia
  •     Laura Fornash, Secretary of Education for the Commonwealth of Virginia
  •     Eric Hansen, CEO, President and Co-founder of Innovative Wireless Technologies Inc.
  •     Wayne Hunter, Managing Partner of Harbert Venture Partners
  •     Terry Hsaio, Founding CEO of Hook Mobile
  •     Dr. Ray O. Johnson, Senior Vice President and CTO of Lockheed Martin Corporation
  •     Hooks Johnston, General Partner of Valhalla Partners
  •     Don Rainey, General Partner of Grotech
  •     Dr. Michael Rao, President of Virginia Commonwealth University
  •     Dr. Charles Steger, President of Virginia Polytechnic Institute and State University
  •     Dr. Teresa A. Sullivan, President of the University of Virginia
About the Innovation and Entrepreneurship Investment Authority and Center for Innovative Technology, http://www.cit.org
The Innovation and Entrepreneurship Investment Authority (IEIA) was created by an Act of the General Assembly in 2009. The legislation consolidated two existing entities with research and development (R&D)-related responsibilities – the Innovative Technology Authority and the Virginia Research and Technology Advisory Commission – into a single authority – the IEIA. Under this structure, the Authority is responsible for accelerating all phases of technology company creation from research and development through commercialization, capital formation and successful product assimilation.

CIT is the non-profit corporation that conducts the business of the IEIA. To support IEIA’s mission, 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 start-up companies and advanced technology consumers.

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