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Web Site for Virginia Technology Entrepreneurs posted by Center for Innovative Technology (CIT)

Virginia’s Center for Innovative Technology (CIT) http://www.cit.org/ announced the launch of an online startup guide for the state’s technology entrepreneurs. Innovation Avenue, http://www.innovationavenue.com/ is designed to accelerate the growth and success of new technology firms in Virginia by offering expert advice from a virtual founding team, answers to frequently asked questions, a glossary of need-to-know terms, and links to essential resources.

Govtech.net

"By gathering valuable educational, business and professional development information tailored to the Virginia technology entrepreneur into a single user-friendly Web site, Innovation Avenue aims to help users overcome the common preliminary hurdles faced in the early stages of corporate development," said Tom Weithman, CIT vice president for entrepreneurship and IP transfer.

The site also serves as a portal for the resources available to assist new tech businesses in Virginia, with links to services provided by CIT and its statewide network of partners, including university-based Entrepreneurship Centers and Virginia’s 10 regional technology councils, as well as the state’s general and specialized business assistance resources.

Plans for an entrepreneurial guidebook emerged from the Virginia Strategic Plan for Technology, issued last fall by Secretary of Technology George C. Newstrom on behalf of Gov. Mark R. Warner. CIT transformed its existing Innovation Avenue Web site from a Virginia technology community portal of news, events and industry-specific resources into this resource devoted exclusively to the needs of the Virginia technology start-up.

"Increasing the survival rate of early-stage technology firms is one of the primary drivers of CIT’s strategy to accelerate Virginia’s next generation of technology and technology companies," said Peter Jobse, CIT president. "Re-tooling an existing resource to better serve our fiscal 2004 plans provides an immediate access point for our target clientele."

Innovation Avenue features four main sections, organized according to responsibilities of the principal members of a typical founding team and includes entrepreneurship, legal, finance and sales functions.

Sixteen industry experts contributed content for the site. Each topic contains an overview, a list of frequently asked questions and answers, a glossary, and hot links to resources. Additional topics are planned along with frequent updates of the content.

CIT is a state-chartered nonprofit corporation focused on three goals: enhancing federal research funding to Virginia’s colleges, universities and industry; commercializing intellectual property from universities and laboratories and growing entrepreneurial companies; and promoting technology-based economic development. The group is partially supported by the state but is moving toward self-funding.

http://www.govtech.net/news/news.php?id=2003.07.08-58848

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