RICHMOND – Governor Terry McAuliffe announced today the launch of the Smart City Works Infrastructure Actuator, a first-of-its-kind business accelerator focused on growing early-stage companies that help make cities smarter, more livable, and more resilient. This program, operated in conjunction with the Center for Innovative Technology, is the first in a series of Commonwealth initiatives that will drive innovation in infrastructure while simultaneously fostering economic development across Virginia and the DC-Metropolitan region.
“This first-in-the-nation business accelerator affirms Virginia’s role as a leader in creating livable, resilient communities,” said Governor McAuliffe. “It will harness our region’s valuable assets and will attract technology companies from across the globe to the Commonwealth. The Actuator will allow us to bring cutting-edge technology to market, deploying these innovations in smart communities across Virginia and making us a national model for smart cities.”
“Smart City Works is the nation’s first business accelerator focused exclusively on technologies and applications for improving the built environment. Cities across the globe are looking for innovative solutions to address rising social and civic challenges that they face. We are only going to solve these challenges if we unlock the power of innovation in infrastructure and transform the way we design, build, and operate cities,” said David Heyman, Co-Founder and Partner of Smart City Works.
A call for innovation was issued in February 2017 that sought companies that specialized in one of three high-demand sectors: transportation, construction techniques, and public safety/resilience. The request spawned a competitive selection process that brought submissions from startups and entrepreneurs located across the world.
At today’s launch event at the Smart City Works flagship location in Herndon, Governor McAuliffe formally cut the ribbon and announced the inaugural set of companies in the Spring 2017 cohort. The six companies selected come from a variety of locations:
The Smart City Works program consists of an intense 90-day business boot-camp in which the startups are mentored in all aspects of creating a sustainable and successful business, with a focus on identifying pilot opportunities, test-beds, and channels to market. Smart City Works brings together subject-matter experts, industry leaders, and investors – who each play a critical role in how the infrastructure marketplace operates – to create an ecosystem to launch, build, and grow successful startups.
The Spring program concludes on June 28, 2017 with a Demo Day where companies will have the opportunity to pitch and demo their technology to an audience of external mentors, investors, and stakeholders.
About Smart City Works, www.smartcityworks.io
Smart City Works is the world’s first business actuator and a premier business accelerator for improving livability and resilience in cities. Our unique focus on the built environment aims to dramatically change the way we design, build, and operate civil infrastructure. To learn more, please visit www.smartcityworks.io
About the Center for Innovative Technology, www.cit.org
Since 1985, CIT, a nonprofit corporation, has been Virginia’s primary driver of innovation and entrepreneurship. CIT accelerates the next generation of technology and technology companies through commercialization, capital formation, market development and revenue generation service. To facilitate national innovation leadership and accelerate the rate of technology adoption, CIT creates partnerships between innovative technology startup companies and advance technology consumers. CIT’s CAGE Code is 1UP71. To learn more, please visit www.cit.org. Follow CIT on Twitter @CITorg and add the Center for Innovative Technology on LinkedIn and Facebook.