Herndon, VA, Oct. 22, 2019 (GLOBE NEWSWIRE) -- The Center for Innovative Technology is pleased to announce, in accordance with the provisions of Virginia Code § 2.2-2218, that three new Board of Directors members have been appointed to the Commonwealth of Virginia’s Innovation & Entrepreneurship Investment Authority (IEIA) and to the Board of Directors of the Center for Innovative Technology (CIT). New additions include; James Cheng, Co-Founder, CAV Angels, Senior Advisor, Pamunkey Indian Enterprises; Richard Hall, Managing Director, Orion Capital; and Manish Malhotra, CEO Unissant. The new additions will replace outgoing Board Members including Walter “Duffy” Mazan, Jonathan Aberman, and Stephen R. Chapin, Jr. who have served honorably on the CIT Board for a number of years.

The Board provides leadership for carrying out IEIA’s and CIT’s missions; accelerating the next generation of technology and technology companies by focusing on commercialization and seed funding stages of innovation, helping innovators and tech entrepreneurs launch and grow new companies, create high paying jobs, and accelerate economic growth throughout the entire state of Virginia.

“I am excited to welcome James, Richard, and Manish to the CIT Board of Directors,” says Ed Albrigo, CEO. “Each of them brings deep experience in the Virginia entrepreneurial ecosystem, a passion for innovation, a dedication to public service and a desire to drive opportunities for all corners of the Commonwealth.”

Profiles of New Board Members Include:

James Cheng
Co-Founder, CAV Angels
Senior Advisor, Pamunkey Indian Enterprises

Jim Cheng, JD/MBA, is a successful entrepreneur and venture capitalist. He founded, led, and successfully exited an IT services firm that he grew from five people to 550 people in 9 years, and has started and led additional ventures since. He served as the Secretary of Commerce and Trade for the Commonwealth of Virginia for 4 years, contributing significantly to economic development, job creation, tourism, film, industry regulation and safety, housing, and a number of other commerce-related fields. He is currently Sr. Advisor to Pamunkey Indian Enterprises and is working with several VC/private equity and angel investment firms. He also teaches Entrepreneurship at the University of Virginia School of Engineering.

Richard Hall
Managing Director, Orion Capital

Hall, a life-long resident of Martinsville, has a bachelor’s degree in Finance from Virginia Tech. Hall is a successful entrepreneur and venture capitalist. He was a Co-founder/Chairman of the Board of Commonwealth Laminating and Coating. Commonwealth Laminating grew from start-up to a 250-person world leader in the advanced manufacturing of solar control and protection films. He went on to serve as a consultant to the transition team after the company was sold to Eastman Chemical in 2015. Hall is the co-founder of the Center for Advanced Film Manufacturing at NCI and Patrick Henry Community College. He is the current Vice-Chair of NCI and has served on numerous boards and involved in various philanthropic activities. He received the Gardner/Summerlin Award for Economic Development efforts and was 2008 Red Cross member of the Year. He currently serves as Managing Director of Orion Capital.

Manish Malhotra
CEO Unissant

As the Chairman & CEO of Unissant, Inc., Manish is responsible for setting the vision, growth, and long-term strategy for the company. He has led Unissant to provide the highest level of service to its customers. With a relentless passion to provide value and quality to its customers and our veterans, he challenged his staff to be mission-focused and led Unissant to achieve the 2017 Government Project of the Year award and the 2018 Health IT Innovation award. Under his leadership, Unissant has grown from a startup company to a Top 100 Asian Owned Company as well as one of Inc. 5000's Fastest Growing Companies. Manish also serves as the President-Elect and an elected member of the Board on the “The Indus Entrepreneurs” (TiE) DC Chapter. In addition to his daily duties for Unissant, Manish is also acutely aware of his social responsibilities. He and his team have spent over 2000 hours on community development and spent large financial amounts towards humanitarian causes including supporting 20+ drives for children and elderly support.

About the Center for Innovative Technology (CIT)

Investing for Commonwealth Growth | CIT concentrates on the early commercialization and seed funding stages of innovation, helping innovators and tech entrepreneurs launch and grow new companies to create high-paying jobs throughout the entire state of Virginia. Founded in 1985, CIT, a nonprofit corporation, has been a primary driver of advocating for innovation and entrepreneurship in the Commonwealth. CIT accelerates next generation technologies and technology companies through commercialization, capital formation, and market development initiatives. Our programs include | CIT GAP Funds | Commonwealth Research Commercialization Fund (CRCF) | Virginia Founders Fund | Broadband/Rural Broadband | Smart Communities | Cybersecurity | Unmanned Systems | SBIR/STTR Support (Small Business Innovation Research (SBIR) & Small Business Technology Transfer (STTR) programs) | University Partnerships | Startup Company Mentoring & Engagement on behalf of Virginia Entrepreneurship & Economic Development. CIT’s CAGE Code is 1UP71. Contact: 2214 Rock Hill Road #600, Herndon, VA 20170 | 703.689.3000 | www.cit.org

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Sara Poole
Center for Innovative Technology
sara.poole@cit.org