Connect with us

Technology

Virginia Ranked Top 10 in U.S. for Venture Capital Investment by National Venture Capital Association – Virginia’s Highest Ranking in Over 15 Years

Published

on

$2.5 Billion of Venture Capital Investment Poured into Virginia in 2023

RICHMOND, Va., Sept. 30, 2024 /PRNewswire/ — The Virginia Innovation Partnership Corporation (VIPC) hosted the President of the National Venture Capital Association (NVCA), VIPC Board members, and local ecosystem stakeholder leaders at Amazon Visitors Landing at Amazon HQ2 in Arlington, Virginia to celebrate Virginia’s top 10 national ranking for venture capital investment activity during 2023, as reported by Pitchbook-NVCA’s latest Venture Monitor industry data. NVCA reported approximately $2.5 billion of venture capital investment activity during 2023 in Virginia, ranking Virginia the 8th highest state in the country and ahead of other states such as Illinois, Pennsylvania, Maryland, New Jersey, North Carolina, Tennessee, Georgia, Delaware, and Ohio. This is Virginia’s highest venture capital national ranking, and the first time Virginia has climbed back into the top 10, in over 15 years according to Pitchbook/NVCA reported data.

Virginia Nationally Ranked In The TOP 10 for Venture Capital Investments

A theme at the VIPC hosted event was Virginia cultivating a culture of growth, opportunity, and collaboration that is contributing to a thriving business environment for entrepreneurs, innovators, startups, businesses, and investors. Virginia’s top 10 national ranking for venture capital investment also coincides with Governor Glenn Youngkin recently announcing Virginia being ranked #1 Top State for Business in America by CNBC and Virginia realizing a record 10,000 new high-growth startups launched in the Commonwealth over just the past two years. 

The President of NVCA delivered a keynote address at the event which was attended by Virginia Secretary of Commerce Caren Merrick, State Senator Saddam Azlan Salim, and local stakeholder leaders representing Arlington, Alexandria, Fairfax county economic development authorities; Northern Virginia Black Chamber of Commerce; George Mason University and Virginia Tech Innovation Campus; the Commonwealth of Virginia; and the entrepreneur startup and venture capital community.

VIPC President and CEO, Joe Benevento, remarked, “Virginia’s top 10 national ranking demonstrates how dynamic high-growth companies in Virginia are offering VCs from across the country compelling opportunities to deploy capital. Capital fuels growth and VIPC looks forward to fostering continued private sector engagement and investment within our thriving entrepreneur ecosystems, including through our new Virginia Invests venture capital partnership initiative.”

Bobby Franklin, President and CEO of NVCA, commented, “Virginia is asserting itself as a key leader in the venture capital industry. The Commonwealth is not only competing but outpacing other states in attracting investment, thanks to its supportive innovation landscape and growing pipeline of startups.”

VIPC & Virginia Invests

VIPC is Virginia’s statewide economic development authority for advancing innovation, technology, commercialization, entrepreneurship, startups, and venture capital investment. Since 2004, VIPC has helped catalyze and leverage over $2 billion of cumulative investment capital from the private/public sector which has supported Virginia-based early-stage companies, technology commercialization, and innovation ecosystems.

In May 2024, VIPC launched a new venture capital partnership initiative called Virginia Invests, which is designed to expand access to early-stage capital and catalyze investment from both in-state and out-of-state investment fund networks into Virginia-based startups.  VIPC has initially partnered with seven venture capital fund managers who combined have committed to invest at least $100 million in Virginia-based startup companies as well as participate in a number of local entrepreneur ecosystem events and engagements throughout Virginia over the next five years.  Two of these fund managers have also relocated their headquarters, or plan to expand new offices, in Virginia.  VIPC expects Virginia Invests to attract at least $10 of private sector investment for every $1 committed by VIPC (10:1 leverage).

VIPC’s Virginia Venture Partners Managing Director, Tom Weithman, stated, “Our top 10 national ranking by NVCA is a testament to Virginia’s sustained commitment to a robust innovation and technology landscape which supports the next generation of great companies to launch, grow, and scale here in the Commonwealth.” 

Learn More about VC opportunities and VIPC: www.VIPC.org.

About Virginia Innovation Partnership Corporation (VIPC)
Connecting innovators with opportunities. VIPC operates as the nonprofit corporation on behalf of the Virginia Innovation Partnership Authority (VIPA). VIPA / VIPC is Virginia’s designated authority for leading innovation and economic development in the Commonwealth of Virginia through research, commercialization, and technology advancement; entrepreneurship, startup, and venture capital growth; and regional ecosystem, innovation network, and industry sector expansion. As part of its operations, VIPC helps attract and catalyze private investment into early-stage startup companies, provides research and technology commercialization grants to universities and entrepreneurs, and offers resource and funding support for entrepreneurial ecosystems, innovation networks, and public-private partnerships at local, state, and federal levelsVIPC’s programs include: Virginia Invests | Virginia Venture Partners (VVP) | Commonwealth Commercialization Fund (CCF) | Entrepreneurial Ecosystems Development | Regional Innovation Fund (RIF) | Smart Communities | The Virginia Smart Community Testbed | The Virginia Unmanned Systems Center | Virginia Advanced Air Mobility Alliance (VAAMA) | The Public Safety Innovation Center (PSIC) | Federal Funding Assistance Program (FFAP) for SBIR & STTR | University Partnerships | Startup Company Mentoring & Engagement.

For more information, please visit www.VIPC.org. Explore the latest news from VIPC and images from VIPC-supported stakeholder events. Follow VIPC on FacebookX, and LinkedIn.

Contact
Angela Costello
VIPC, VP of Communications & Marketing
Angela.Costello@VirginiaIPC.org
757-870-6848

View original content to download multimedia:https://www.prnewswire.com/news-releases/virginia-ranked-top-10-in-us-for-venture-capital-investment-by-national-venture-capital-association–virginias-highest-ranking-in-over-15-years-302262894.html

SOURCE VIPC

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

Earth’s pulse monitored: a review highlights remote sensing time series progress

Published

on

By

As urbanization accelerates and environmental dynamics shift, the need for accurate and timely terrestrial monitoring has never been more urgent. A review has introduced a novel approach to remote sensing time series analysis, integrating multi-source data to enable near real-time monitoring. This innovative methodology promises to transform environmental conservation and urban planning by providing unprecedented insights into terrestrial changes and offering a more precise understanding of environmental dynamics.

GUANGZHOU, China, Dec. 22, 2024 /PRNewswire-PRWeb/ — An international team of researchers from South China Normal University, the University of Connecticut, and the Chinese Academy of Sciences has made a significant breakthrough in remote sensing. Their review, published (DOI: 10.34133/remotesensing.0285) in the Journal of Remote Sensing on December 11, 2024, addresses key challenges in remote sensing, such as incomplete data and noise interference. The team’s new time series analysis technique leverages advanced data reconstruction and fusion methods, significantly enhancing the precision and efficiency of remote sensing for monitoring environmental changes.

The research team has developed an advanced time series analysis technique that combines deep learning algorithms with traditional remote sensing methods to integrate data from various remote sensing sources. This innovative approach allows for the extraction of subtle patterns from large, complex datasets, which is crucial for monitoring critical environmental parameters such as land use and vegetation health. Unlike conventional techniques that struggle with incomplete or noisy data, this new methodology offers enhanced accuracy and more reliable insights into terrestrial dynamics, paving the way for more effective environmental monitoring.

Central to the study’s success is the integration of Long Short-Term Memory (LSTM) networks and Generative Adversarial Networks (GANs) to address the challenges posed by missing or noisy data. The LSTM networks capture temporal trends over time, while the GANs generate synthetic data that mimics real-world observations to fill gaps and correct for atmospheric distortions. This dual approach has resulted in a cleaner, more accurate time series dataset, which was validated against independent ground truth measurements. The researchers demonstrated significant improvements in key vegetation indices, such as the Normalized Difference Vegetation Index (NDVI), setting a new benchmark in the field of remote sensing.

Experts in the field have lauded the study’s potential to revolutionize remote sensing applications. They see the method as a transformative tool for enhancing high-resolution monitoring and extending its coverage, particularly in agricultural surveillance, urban planning, and environmental management. “This method represents a crucial advancement in our ability to monitor environmental changes,” says Professor Fu. “As it evolves, it could play a key role in addressing climate change and other global challenges.”

The methodology’s future applications are vast, especially in global environmental monitoring and supporting sustainable development goals. By integrating multi-temporal data from Landsat and Sentinel-2 satellites, the team has created a framework for accurate and continuous terrestrial analysis. As computational power advances and algorithms improve, this technology is expected to become a vital tool for natural resource management, disaster response, and climate change mitigation. In the years to come, it could provide critical data to help policymakers address pressing environmental issues on a global scale.

References

DOI

10.34133/remotesensing.0285

Oiginal Source URL

https://doi.org/10.34133/remotesensing.0285

Funding information

This work was supported by the National Nature Science Foundation of China (grant numbers 42425001 and 42071399).

About Journal of Remote Sensing

The Journal of Remote Sensing, an online-only Open Access journal published in association with AIR-CAS, promotes the theory, science, and technology of remote sensing, as well as interdisciplinary research within earth and information science.

Media Contact

George Hua, Chuanlink Innovations, 1 8656606278, TranSpread1@gmail.com, http://chuanlink-innovations.com/

View original content to download multimedia:https://www.prweb.com/releases/earths-pulse-monitored-a-review-highlights-remote-sensing-time-series-progress-302337250.html

SOURCE Journal of Remote Sensing

Continue Reading

Technology

ZINZINO AB (PUBL.): ENTERS INTO AGREEMENT TO PROVIDE DIP FINANCING TO ZURVITA INITIATING CHAPTER 11 PROCESS

Published

on

By

GOTHENBURG, Sweden, Dec. 22, 2024 /PRNewswire/ — Zinzino has in a press release dated 20240617 announced that a letter of intent to acquire 100% of the shares in the North American direct selling company Zurvita Inc. “Zurvita or the Company” was signed. Since then, Zinzino has negotiated with the owners of Zurvita Inc. and instead concluded that the purchase of Zurvita’s assets in a Chapter 11 proceeding for the Company is in Zinzino’s best interest.

Zinzino is providing a debtor-in-possession (DIP) financing to Zurvita, which filed for Chapter 11 bankruptcy proceedings on the 20th December 2024. By entering as a financier in Zurvita’s Chapter 11 with loans totaling USD 4.5 million, Zinzino simultaneously makes an offer to acquire the company’s assets via a so-called stalking horse bid. If the bid is accepted, the DIP loan will be converted into part of a debt-settled purchase price, which will be determined after Zurvita has completed the sale process that is subject to higher and better offers in accordance with the applicable terms of Chapter 11. Other bidders have the right to submit bids for Zurvita during the process and if another bid is accepted, Zinzino’s loan will be repaid and certain of its costs associated with the process will be reimbursed. 

Zurvita is a direct selling health company with operations in the United States, Canada and Mexico. The brand portfolio offers a range of innovative health and wellness products. The business has total annual sales of approximately USD 30 million with good gross margins. A potential transaction with Zinzino is expected to add growth through the synergies arising from the joint networks, combined with Zinzino’s test-based product concept. The profitability of the Company will thus be able to develop well by utilizing Zinzino’s existing technical platform and organization.

A visionary mindset, tech first perspective, test-based nutrition at the cellular level and a strong position to capitalize on current trends will form the basis of the new partnership. Following the acquisitions of VMA Life in 2020, Enhanzz in 2022, the strategic partnership with ACN and the recently completed asset acquisition of Xelliss, Zinzino has been looking for further strong investments to maintain its sustainable, profitable growth, strengthen its distribution power, expand into new markets and leverage the product portfolio in new consumer areas.

– “Individualized advice and tailored solutions are the future, and not just in health and wellness,” says Dag Bergheim Pettersen, CEO of Zinzino. “Together, we have years of combined industry experience and everything it takes to drive the modern, personalized shopping experience through direct sales”. Jay Shafer, CEO and co-founder of Zurvita, states “After considering multiple options for the company and under the guidance of our attorneys and third-party advisors, we feel this presents the best opportunity to continue Zurvita’s mission, deliver the highest quality products, and provide continuity for our staff and consultants. We are excited to see what the future holds for Zurvita.” 

For more information:
Dag Bergheim Pettersen CEO Zinzino +47 (0) 932 25 700, www.zinzino.com

Pictures for publication free of charge:
marketing@zinzino.com

Certified Adviser:
Carnegie Investment Bank AB (publ.)

Zinzino AB (publ.) is obliged to publish this information in compliance with current EU regulations governing market abuse. The information was provided by the above contact person for publication at 20.00 on the 21st of December 2024.

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/zinzino/r/zinzino-ab–publ–enters-into-agreement-to-provide-dip-financing-to-zurvita-initiating-chapter-11-pr,c4086040

The following files are available for download:

View original content:https://www.prnewswire.co.uk/news-releases/zinzino-ab-publ-enters-into-agreement-to-provide-dip-financing-to-zurvita-initiating-chapter-11-process-302337945.html

Continue Reading

Technology

Meet With Culture: Exquisite Craftsmanship of Traditional Chinese Architecture

Published

on

By

BEIJING, Dec. 22, 2024 /PRNewswire/ — The Temple of Agriculture in Beijing played a significant role during the Ming (1368-1644) and Qing (1644-1911) dynasties. Over nearly 600 years, 25 emperors personally visited or sent ministers to perform spring farming ceremonies and offer sacrifices to Shennong, the god of agriculture.

 

Built in 1420 during the Yongle reign, the temple’s predecessor was the Temple of Mountains and Rivers in Nanjing. When Emperor Zhu Di moved the Ming capital to Beijing, he constructed a larger temple inspired by the Nanjing temple, which gradually evolved into the Temple of Agriculture.

The Taisui Hall, the largest building complex in the temple, now serves as a major exhibition hall of the Beijing Ancient Architecture Museum, showcasing models of classical Chinese buildings and demonstrating the solemnity of royal architecture.

Ancient Chinese architecture is predominantly wooden-structured, chosen for its availability, versatility, and earthquake resistance. Artisans developed sophisticated techniques in material selection and construction. The wooden framework consists of columns, beams, girders, and purlins, with innovative structural forms like lifting-beam and piercing-bracket structures.

A unique architectural element is the dougong (bracket sets), which supports weight and connects beam frames with column walls. Mortise-tenon joints were invented to create elastic frameworks by connecting different components.

While discussing the Temple of Agriculture, it’s worth noting another remarkable example of architectural hierarchy which could be found in the Temple of Heaven. The hierarchy of architectural designs reflected social stratification, with eave structures like the triple-layered eaves of the Hall of Prayer for Good Harvest representing the highest-level architectural design.

Over centuries, the Temple of Agriculture has transformed from an imperial garden to a public park and a museum for historical architecture, now standing as a significant cultural landmark that symbolizes China’s agricultural civilization and architectural heritage along Beijing’s Central Axis.

Quickly join Alexandre to study and explore the traditional Chinese architecture.
https://youtu.be/YpA03WiZ9Wc

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/meet-with-culture-exquisite-craftsmanship-of-traditional-chinese-architecture-302337935.html

SOURCE China International Communications Group

Continue Reading

Trending