VCU

July 25, 2012 by Amber Shiflett

VCU Economic Developments Foster More Than New Ideas in Richmond

We found this pretty interesting article on workitrichmond.com the other day about VCU’s latest technological and economic developments happening across the Richmond region. Over the past 15 years, the university has been pushing for technological advancements such as new medicines, new business partnerships and student work opportunities to create lasting relationships between local businesses and the university.

In the last year, VCU’s Technology Transfer office has helped kick start their economic development efforts. The office is a resource that helps connect students with an industry and works to transfer their ideas and inventions from the university to the local business community.

Some of VCU’s recent successes include:

A new FDA regulatory clearance for EViTAR, a catheter for drug and cell delivery.
Commercialization of EmergenOx, a device which provides medical-grade humidified oxygen in emergencies.
Licensing by Finis, Inc. for the marketing of SwiMP3, a waterproof recreational audio-device that transmits sound, using bone conduction.

Since VCU is a thriving creative community, the assistance of this program is essential because it provides students with resources and counseling to help get their ideas developed and sold into the Richmond marketplace.

Nicole Colomb, who has been hired to oversee VCU’s new push for economic development efforts, said forging closer ties with the business community will benefit the region by raising the university’s stature while creating jobs and attracting industry here.

(per the article in WorkIt, Richmond)

The Tech Transfer office has become a great resource for economic development across Richmond, as serves as a liaison between local businesses and VCU. As a resource for students to connect and create new ideas, the office generates innovations in the local economy.

So what do you think VCU’s Tech Transfer program can do for Richmond? A more creative marketplace, stronger regional economy, more entrepreneurship and more RVA based businesses and ideas.

July 24, 2012 by Carliss Hardy

VCU’s da Vinci Center helps Richmond become a top 5 for job creation

During Rep. Eric Cantor’s visit to Virginia Commonwealth University’s da Vinci Center for Innovation on Monday, he declared Virginia as an epicenter of job creation and entrepreneurship, according to an article on workitrichmond.com.

A recent survey by Gallup showed Richmond, Va. in the top five metro areas for job creation out of the 50 largest United States Metropolitan areas. Richmond came in third behind Pittsburg, Pa. and Oklahoma City, Ok. as number one. More than 30% of employers are hiring and just over 14% are laying off workers.

Cantor, the R-7th and the House Majority Leader, toured the da Vinci Center-a collaboration of VCU’s School of the Arts, Business and Engineering-and was impressed with the presentations by two groups of students. “What I saw was a remarkable effort to bring the many assets of VCU together toward creativity and innovation,” he said.

The students are participating in a paid summer internship program, a program he also said encourages the want for students to create job opportunities that contribute to the markets growth in Richmond. Once the presentations were completed “Cantor asked how many of them are interested in becoming “job creators” later in life. Almost all of them raised their hands,” according to the workitrichmond.com article.

Each group is collaborating on real world projects for two Richmond businesses using their diverse backgrounds. One group is working on a project with The Martin Agency to make Tylenol dosing simpler and more accessible for parents. The other group is evaluating the Mary Frances Youth Center and coming up with ways to help the organization stay out of debt.

Future job innovators, like these VCU students, add to the growing list of Richmond jobs and job postings seen on websites like Indeed.com. The job search website stated that “the Richmond, Va. job market is strong compared to the rest of the U.S.” Job postings had a national decline of 32% while Richmond’s only had a 19% decline.

According to a The New York Times’ Economix blog post, surrounding Richmond cities, like Virginia Beach, have the highest proportion of employers laying off workers.

The da Vinci Center will continue to merge creativity, diversity and business minded students together to help create innovative projects for job creation in the fall for the launch of its master’s program. Kenneth Kahn, the center’s director, said students will “come in with an idea and leave with a business.”

June 8, 2012 by Amber Shiflett

Venture Richmond Forum Unveils New Developments in RVA

After years and years of work throughout the city, Downtown Richmond is finally getting the attention it deserves, thanks to a nearly $1 billion dollar makeover from the state.

This makeover was the highlight of discussion at Venture Richmond’s Annual Downtown Development Forum last Thursday, May 31st, as Richmond’s business leaders, developers and architects met to reveal their latest ideas for up and coming projects.

Proposed projects included the VCU School of Medicine building, the Virginia Biotechnology Park, a 150,000-square-foot addition for Health Diagnostic Laboratory Inc, as well as several apartment buildings in the Manchester and business districts.

Over $120 million is going into creating more residential spaces across the downtown area, according to agbeat.com, who says the recent heightened demand for apartments is a result of the drop in the Multifamily Vacancy Index (MVI).

Fyi, the MVI measures the multifamily housing industry’s perception of vacancies which has recently dropped to a level of 31, an all time low.

“Multifamily construction continues to be a bright spot in the overall housing market,” said NAHB Chief Economist David Crowe, in a report by agbeat.com.

Residential development across Richmond was a large part of the revitalization plans discussed at last Thursday’s forum. For more information about how the State is funding these different projects, click here.

Another project in the works is by the Franklin Development Group, who is working to revitalize the Manchester District by building a 17-acre development at the Reynolds South Property.

“We’re a long way from closing,” said Franklin Development’s Manager, Thomas Wilkinson, who discussed the possibility of over 300 apartments, office space and an upscale grocer at Thurday’s forum.

Although the project plans aren’t official yet, Wilkinson assures Richmond-ers that the development will revitalize the Manchester district and appeal to the area’s increasipopulations on. Checkouts Richmond BizSense’s coverage of the Reynolds Development for more info.

Millions of dollars from the City are being put into new construction on the VCU campuses, as well as some of Richmond’s most beloved landmarks, including the Main Street Station Clock Tower and 17th Street.

The idea behind Richmond’s makeover? To transform traditonal buildings and warehouses into modern, revitalized structures for public use.

Be sure to keep your eyes open, as these new developments pop up across the city!

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