Innovation growing in Richmond
For many reasons, the Richmond region is becoming a recognized leader in innovation and entrepreneurship in America. VCU’s journey to record research and creative activity — fueled by the entrepreneurial spirit and initiative of our faculty, staff and students — is one reason why.
Did you know that my faculty and staff colleagues conducted more than $262 million in sponsored research and creative activity last year? And, thanks to programs like VCU Squared in the VCU Innovation Gateway, one in eight of our students will actually start a company before they even graduate? Together, VCU faculty, staff and students started 14 companies last year alone.
This helps put Richmond on the national map for its innovation and discovery. But we know that none of us can grow innovation as quickly and effectively as all of us.
So together, our region took another big step forward this week when the Corporation Board of the Virginia Biotechnology Research Park became The Richmond Innovation Council, a body that will convene, facilitate and fuel the many sparks of creativity shining throughout Central Virginia. The Innovation Council will not replace what is already occurring here; rather, it is the glue that will bring disparate activities together to be more productive and impactful. It will also help serve as due diligence for those who would invest in innovation in our region.
All across Greater Richmond — including in laboratories, clinics, studios, classrooms and dorm rooms on our campuses — are people with good ideas and determination to succeed. By working together, our big ideas become bigger and more sustainable, and they can begin to help more people quickly, which is really our mission. That is what The Innovation Council, based in the research park, will do: convene ideas and talent from across sectors, those who would invest and advance these ideas (help make them real) and those whose experience and expertise may benefit those working to get their vision off the ground.
The Innovation Council will focus on collaboration over competition and will include representatives from higher education (including VCU), state and local government, business and civic leaders, regional accelerators, thriving corporations based in the research park, entrepreneurs, investors and others.
While the entire region will see enormous benefit from this new synergy, it is particularly important to VCU, a distinctive and premier national research university and the engine of innovation in Central Virginia. That is why the university has committed $1.2 million to this initiative over the next three years, with the promise that those funds will be leveraged and matched by corporations and others who would partner with us.
This investment will further develop the Richmond region as a place where students, recent graduates and entrepreneurs can take chances, innovate and start something new — a place where big ideas become big innovations that solve big problems.
I look forward to working with partners across the region to make Richmond a nationally recognized leader in innovation.
Categories Uncategorized