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Activation Capital: from start to phenomenal

Thursday, April 13, 2017  
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The Innovation Council of the Virginia Biotechnology Research Park unveiled a new brand identity as part of their continued efforts to support collaboration and coordination of high-growth innovation activities in the Richmond region: “Activation Capital: from start to phenomenal.” The brand identity recognizes the uniqueness of individuals and organizations needed to strengthen and grow our regional innovation ecosystem, and the support needed to take an idea and bring it to success. In addition, the Innovation Council will be known as the Activation Council.
“In our entrepreneurial region, we will dream big and work together so amazing business ideas become a reality,” said Carrie Roth, President and CEO. “We champion the greater Richmond entrepreneurial region – Activation Capital – by collaboratively identifying and supplying innovators with tools for successful business outcomes. Through the integration of efforts of many resources and different types of capital, we will bring clarity in the short term, and generate more collision points to foster successful innovation and entrepreneurialism in the long term.”

Speaking about the brand, Dr. Rao, President of VCU and Chairman of the Activation Council said, “The Council has been working on this effort for many months and we are excited about the result.  It is our hope this brand will unite founders, innovators, and organizations providing resources to create a strong network for entrepreneurs so they can more easily create and grow their businesses right here in the Richmond region.”
Jen Finn, Activation Council Vice Chairman and COO of Capital One stated, “The goal of the Activation Council is to put the founders first and foster a supportive network across our region to help them thrive.  Collaboration across all the innovative activities happening in our ecosystem will ignite the region and accelerate innovation and growth.”
“Building a start-up company is tough work. When my brother and I were developing a life science company in Richmond, the region was lacking a centralized place to provide support and a link to critical entrepreneurial resources.  The Activation Capital will help take the support network required to build a company in the Richmond region to the next level. As a regional innovation and entrepreneurial hub, the Activation Capital will provide guidance and support for founders throughout the entire lifecycle of their business to help them, and our region, flourish,” said Eric Edwards, co-founder of kaléo Pharma.
The Activation Council, as an anchor for the knowledge-based innovation and entrepreneurial community, provides the leadership and vision for the Richmond regional innovation ecosystem with a willingness to invent, take and manage risks, and share credit for success.
The Activation Council Role:
·         Forum for collaboration and coordinated innovation activities amongst stakeholders in the region.
·         Set goals and metrics in innovation for the region and monitor progress toward goals.
·         Identify gaps in the innovation ecosystem and lead efforts to identify sources to fill gaps in the Region.
·         Identify gaps in capital requirements and lead efforts to provide the financial means to sustain a successful innovation ecosystem.
·         Craft message for marketing organizations at the local, regional and statewide level of innovation excellence to help in recruitment, retention and expansion.
The President and Vice President of Research and Innovation of VCU, Virginia’s Secretary of Commerce and Trade, the Mayor of the City of Richmond, Henrico County Manager, Chesterfield and Hanover County Administrators serve as ex officio directors of The Innovation Council.  Remaining directors include two owner director representatives of companies in the Research Park meeting certain criteria and individuals representing regional corporations who are major innovators, Virginia community colleges, regional accelerators, private equity and/or venture capital investors, and entrepreneurs. 

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