Richmond, VA, Nov. 11, 2020 (GLOBE NEWSWIRE) -- The Center for Innovative Technology announced the appointment of Sean Mallon as Vice President for its Entrepreneurial Ecosystems Division. The division is one of four recently created at CIT in its role as the operating arm for the Virginia Innovation Partnership Authority (VIPA). The other three divisions are Investment, Commercialization, and Strategic Initiatives.
The Entrepreneurial Ecosystems Division was established to connect and leverage the expertise and infrastructure of Virginia-based partner organizations and will work with stakeholders to develop and strengthen programs that support entrepreneurs in all regions of the Commonwealth. As Division VP, Mallon’s responsibilities will include developing a backbone of statewide resources to assist regional ecosystems and ensure that all programs are inclusive to communities that have been historically under-represented in entrepreneurship and capital formation. Mallon will be based in CIT’s Richmond headquarters office.
“Sean is a great addition to CIT’s executive team and a perfect fit for the Ecosystems VP role,” said Bob Stolle, CIT’s President and CEO. “He has extensive experience and is well known and respected by our regional stakeholders.”
Since March, Mallon has supported CIT in a contract role assisting in the implementation of the legislation that created the VIPA. CIT serves as the managing non-profit for the new Authority.
Previously, Mallon was George Mason University's Associate Vice President for Entrepreneurship and Innovation, where he was responsible for leading Mason's strategic vision as an economic and innovation engine. He also oversaw the Mason Enterprise Center (MEC), the Office of Technology Transfer, and the student-focused Mason Innovation Exchange (MIX).
Prior to joining Mason in 2016, Mallon served as Senior Investment Director for the CIT GAP Funds. In this role, he worked with the leadership teams of portfolio companies and led dozens of investments in Virginia-based high growth technology startups.
“I am delighted to be returning to CIT in this important new role,” Mallon said. “Virginia’s entrepreneurial spirit is strong, and CIT is committed to working with entrepreneurial ecosystem stakeholders around the Commonwealth to strengthen the pipeline of high-growth startups and support entrepreneurs as they launch and scale their businesses.”
Mallon has over 20 years of investment and startup experience focused on aggressive growth, transformation, and optimization. Early in his career, he served as a principal at Mid-Atlantic Venture Funds, a $200m early-stage venture capital firm focused on the telecommunications and IT industries.
Mallon holds an AB degree from Princeton University and an MBA from the Wharton School of the University of Pennsylvania.
About the Center for Innovative Technology (CIT)
Investing in Virginia's Growth | CIT concentrates on the early 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. Founded in 1985, CIT accelerates next-generation technologies and technology companies through commercialization, capital formation, market development initiatives, and expansion of broadband throughout Virginia. 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. CIT’s CAGE Code is 1UP71. For more information, visit www.cit.org or follow CIT on LinkedIn and Twitter.
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