Richmond, VA – State officials have announced that the Governor will include a total of $90 million in one-time funds to the University of Virginia’s Manning Institute for Biotechnology, Virginia Tech’s Fralin Biomedical Research Institute at VTC, and the Virginia Commonwealth University’s Medicines for All Institute in the upcoming biennial budget.
Per reports, the institutions will partner with the Virginia Innovation Partnership Authority to collaborate on commercialization and startup support.
Governor Glenn Youngkin released the following statement:
“Today’s investment announcement lays the groundwork for remarkable startup innovation and commercialization that interconnects Charlottesville, the Greater Richmond Area, Roanoke and the New River Valley.
Through this state commitment and private philanthropy, we are building Virginia’s research triangle and network, supporting our higher education institutions’ research endeavors, and expanding Virginia’s university research capacity that will enhance life-saving research development for generations to come.
My administration is committed to building Virginia’s research engine for the future and creating high-paying jobs in the process.”
