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Youngkin announces $90 million in funding to launch “Virginia Research Triangle”

Governor Glenn Youngkin announced that Virginia will invest $90 million to launch the “Virginia Research Triangle.”

The one time funding will be split between the University of Virginia’s Manning Institute for Biotechnology, Virginia Tech’s Fralin Biomedical Research Institute, and Virginia Commonwealth University’s Medicines for All Institute.

The colleges will work together through the Virginia Innovation Partnership Authority to collaborate on commercialization and startup support.

The Authority will bring the colleges together to sign a memorandum of understanding between the parties.

Once this is completed, the funds will be dispersed with $50 million to UVA, $27 million to VT, and $13 million for VCU.

Governor Youngkin said, “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.”

To view the full announcement, click here.

For more news from across the Shenandoah Valley, click here.

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