{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/2.2-2351.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/2.2-2351.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/2.2-2351.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/2.2-2351.html"}],"law_id":70429,"edition_id":1,"section_id":70429,"structure_id":13711,"section_number":"2.2-2351","catch_line":"Short title; declaration of public purpose","history":"2020, cc. 1164, 1169.","full_text":"A\n\nThis article shall be known and may be cited as the Commonwealth of Virginia Innovation Partnership Act.B\n\nIt is found and determined by the General Assembly that there exists in the Commonwealth a need to support the life cycle of innovation, from translational research; to entrepreneurship; to pre-seed and seed stage funding; and to acceleration, growth, and commercialization, resulting in the creation of new jobs and company formation. A collaborative, consistent, and consolidated approach will assist the Commonwealth in identifying its entrepreneurial strengths, including the identification of talents and resources that make the Commonwealth a unique place to grow and attract technology-based businesses. It is also found and determined by the General Assembly that there exists in the Commonwealth of Virginia a need to (i) promote the technology-based economic development of the Commonwealth by building, attracting, and retaining innovation and high-technology jobs and businesses in Virginia; (ii) increase industry competitiveness by supporting the application of innovative technologies that improve productivity and efficiency; (iii) attract and provide additional private and public funding in the Commonwealth to enhance and expand the scientific and technological research and commercialization at state and federal research institutions and facilities, including by supporting and working with technology transfer offices to advance research from proof-of-concept to commercialization resulting in new business and job creation; (iv) attract and provide additional private and public funding to support and enhance innovation-led entrepreneurship ecosystems and coordination of existing activities and programs throughout the Commonwealth to create new job opportunities and diversify the economy; (v) ensure promotion and marketing of Virginia’s statewide innovation economy and support and coordinate regional marketing efforts to align local and statewide objectives; and (vi) close the Commonwealth’s support gap through pre-seed and seed stage investments, coordination of private investor networks, and shared due diligence research.C\n\nTo achieve the objectives set forth in subsection B, there is created and constituted a political subdivision of the Commonwealth to be known as the Commonwealth of Virginia Innovation Partnership Authority. The Authority’s exercise of powers conferred by this article shall be deemed to be the performance of an essential governmental function and matters of public necessity for which public moneys may be spent and private property acquired. Nothing in this article shall be construed to diminish or limit the powers and responsibilities of institutions of higher education or other educational or cultural institutions set forth in Title 23.1, including but not limited to such institution’s authority to establish its own independent policies and technology transfer offices.","order_by":null,"text":{"0":{"id":254161,"text":"This article shall be known and may be cited as the Commonwealth of Virginia Innovation Partnership Act.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":254162,"text":"It is found and determined by the General Assembly that there exists in the Commonwealth a need to support the life cycle of innovation, from translational research; to entrepreneurship; to pre-seed and seed stage funding; and to acceleration, growth, and commercialization, resulting in the creation of new jobs and company formation. A collaborative, consistent, and consolidated approach will assist the Commonwealth in identifying its entrepreneurial strengths, including the identification of talents and resources that make the Commonwealth a unique place to grow and attract technology-based businesses. It is also found and determined by the General Assembly that there exists in the Commonwealth of Virginia a need to (i) promote the technology-based economic development of the Commonwealth by building, attracting, and retaining innovation and high-technology jobs and businesses in Virginia; (ii) increase industry competitiveness by supporting the application of innovative technologies that improve productivity and efficiency; (iii) attract and provide additional private and public funding in the Commonwealth to enhance and expand the scientific and technological research and commercialization at state and federal research institutions and facilities, including by supporting and working with technology transfer offices to advance research from proof-of-concept to commercialization resulting in new business and job creation; (iv) attract and provide additional private and public funding to support and enhance innovation-led entrepreneurship ecosystems and coordination of existing activities and programs throughout the Commonwealth to create new job opportunities and diversify the economy; (v) ensure promotion and marketing of Virginia’s statewide innovation economy and support and coordinate regional marketing efforts to align local and statewide objectives; and (vi) close the Commonwealth’s support gap through pre-seed and seed stage investments, coordination of private investor networks, and shared due diligence research.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"2":{"id":254163,"text":"To achieve the objectives set forth in subsection B, there is created and constituted a political subdivision of the Commonwealth to be known as the Commonwealth of Virginia Innovation Partnership Authority. The Authority’s exercise of powers conferred by this article shall be deemed to be the performance of an essential governmental function and matters of public necessity for which public moneys may be spent and private property acquired. Nothing in this article shall be construed to diminish or limit the powers and responsibilities of institutions of higher education or other educational or cultural institutions set forth in Title 23.1, including but not limited to such institution’s authority to establish its own independent policies and technology transfer offices.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B"}},"ancestry":[{"id":13711,"edition_id":1,"name":"Commonwealth of Virginia Innovation Partnership Act","identifier":"11","label":"article","depth":5,"order_by":1,"parent_id":13344,"metadata":{},"date_created":"2026-06-26 03:45:37","date_modified":"2026-06-26 03:45:37","permalink":{"id":174035,"object_type":"structure","relational_id":13711,"identifier":"11","token":"2.2\/I\/D\/22\/11","url":"\/2.2\/I\/D\/22\/11\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13344,"edition_id":1,"name":"Authorities","identifier":"22","label":"chapter","depth":4,"order_by":1,"parent_id":12785,"metadata":{},"date_created":"2026-06-26 03:44:41","date_modified":"2026-06-26 03:44:41","permalink":{"id":173945,"object_type":"structure","relational_id":13344,"identifier":"22","token":"2.2\/I\/D\/22","url":"\/2.2\/I\/D\/22\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12785,"edition_id":1,"name":"State Authorities, Boards, Commissions, Councils, Foundations and Other Collegial Bodies","identifier":"D","label":"part","depth":3,"order_by":1,"parent_id":12784,"metadata":{},"date_created":"2026-06-26 03:43:53","date_modified":"2026-06-26 03:43:53","permalink":{"id":173913,"object_type":"structure","relational_id":12785,"identifier":"D","token":"2.2\/I\/D","url":"\/2.2\/I\/D\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12784,"edition_id":1,"name":"Organization of State Government","identifier":"I","label":"subtitle","depth":2,"order_by":1,"parent_id":12749,"metadata":{},"date_created":"2026-06-26 03:43:53","date_modified":"2026-06-26 03:43:53","permalink":{"id":171455,"object_type":"structure","relational_id":12784,"identifier":"I","token":"2.2\/I","url":"\/2.2\/I\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12749,"edition_id":1,"name":"Administration of Government","identifier":"2.2","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:51","date_modified":"2026-06-26 03:43:51","permalink":{"id":171453,"object_type":"structure","relational_id":12749,"identifier":"2.2","token":"2.2","url":"\/2.2\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":70429,"structure_id":13711,"section_number":"2.2-2351","catch_line":"Short title; declaration of public purpose","url":"\/2.2-2351\/","token":"2.2\/I\/D\/22\/11\/2.2-2351","metadata":false},{"id":66958,"structure_id":13711,"section_number":"2.2-2352","catch_line":"Definitions","url":"\/2.2-2352\/","token":"2.2\/I\/D\/22\/11\/2.2-2352","metadata":false},{"id":61786,"structure_id":13711,"section_number":"2.2-2353","catch_line":"Board of directors; members; president","url":"\/2.2-2353\/","token":"2.2\/I\/D\/22\/11\/2.2-2353","metadata":false},{"id":56487,"structure_id":13711,"section_number":"2.2-2354","catch_line":"Powers and duties of the president","url":"\/2.2-2354\/","token":"2.2\/I\/D\/22\/11\/2.2-2354","metadata":false},{"id":56808,"structure_id":13711,"section_number":"2.2-2355","catch_line":"Powers of the Authority","url":"\/2.2-2355\/","token":"2.2\/I\/D\/22\/11\/2.2-2355","metadata":false},{"id":70323,"structure_id":13711,"section_number":"2.2-2356","catch_line":"Designation of staff of not-for-profit entity","url":"\/2.2-2356\/","token":"2.2\/I\/D\/22\/11\/2.2-2356","metadata":false},{"id":60780,"structure_id":13711,"section_number":"2.2-2357","catch_line":"Division of Entrepreneurial Ecosystems","url":"\/2.2-2357\/","token":"2.2\/I\/D\/22\/11\/2.2-2357","metadata":false},{"id":68622,"structure_id":13711,"section_number":"2.2-2358","catch_line":"Division of Investment","url":"\/2.2-2358\/","token":"2.2\/I\/D\/22\/11\/2.2-2358","metadata":false},{"id":56795,"structure_id":13711,"section_number":"2.2-2359","catch_line":"Division of Commercialization","url":"\/2.2-2359\/","token":"2.2\/I\/D\/22\/11\/2.2-2359","metadata":false},{"id":72724,"structure_id":13711,"section_number":"2.2-2360","catch_line":"Virginia Innovation Index","url":"\/2.2-2360\/","token":"2.2\/I\/D\/22\/11\/2.2-2360","metadata":false},{"id":61362,"structure_id":13711,"section_number":"2.2-2361","catch_line":"Grants or loans of public or private funds","url":"\/2.2-2361\/","token":"2.2\/I\/D\/22\/11\/2.2-2361","metadata":false},{"id":54695,"structure_id":13711,"section_number":"2.2-2362","catch_line":"Moneys of Authority; examination of books by the Auditor of Public Accounts","url":"\/2.2-2362\/","token":"2.2\/I\/D\/22\/11\/2.2-2362","metadata":false},{"id":56002,"structure_id":13711,"section_number":"2.2-2363","catch_line":"Exemption from taxes or assessments","url":"\/2.2-2363\/","token":"2.2\/I\/D\/22\/11\/2.2-2363","metadata":false},{"id":69413,"structure_id":13711,"section_number":"2.2-2364","catch_line":"Exemption of Authority from personnel and procurement procedures; adoption of procurement policies","url":"\/2.2-2364\/","token":"2.2\/I\/D\/22\/11\/2.2-2364","metadata":false}],"next_section":{"id":66958,"structure_id":13711,"section_number":"2.2-2352","catch_line":"Definitions","url":"\/2.2-2352\/","token":"2.2\/I\/D\/22\/11\/2.2-2352","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/2.2-2351\/","history_text":"

This law was first created in 2020. The record of its establishment is cataloged in chapters 1164<\/a> and 1169<\/a> of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year.<\/p>","references":[{"id":56808,"section_number":"2.2-2355","catch_line":"Powers of the Authority","order_by":null,"url":"\/2.2-2355\/"},{"id":69413,"section_number":"2.2-2364","catch_line":"Exemption of Authority from personnel and procurement procedures; adoption of procurement policies","order_by":null,"url":"\/2.2-2364\/"},{"id":59772,"section_number":"2.2-3705.6","catch_line":"Exclusions to application of chapter; proprietary records and trade secrets","order_by":null,"url":"\/2.2-3705.6\/"},{"id":72789,"section_number":"2.2-3711","catch_line":"(Effective July 1, 2026) Closed meetings authorized for certain limited purposes","order_by":null,"url":"\/2.2-3711\/"}],"refers_to":false,"permalink":{"id":174037,"object_type":"law","relational_id":70429,"identifier":"2.2-2351","token":"2.2\/I\/D\/22\/11\/2.2-2351","url":"\/2.2-2351\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/2.2-2351\/","token":"2.2\/I\/D\/22\/11\/2.2-2351","dublin_core":{"Title":"Short title; declaration of public purpose","Type":"Text","Format":"text\/html","Identifier":"\u00a7 2.2-2351","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> This article shall be known and may be cited as the Commonwealth<\/span> of Virginia Innovation Partnership Act. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> It is found and determined by the General Assembly that there exists in the Commonwealth<\/span> a need to support the life cycle of innovation, from translational research; to entrepreneurship; to pre-seed and seed stage funding; and to acceleration, growth, and commercialization, resulting in the creation of new jobs and company formation. A collaborative, consistent, and consolidated approach will assist the Commonwealth<\/span> in identifying its entrepreneurial strengths, including the identification of talents and resources that make the Commonwealth<\/span> a unique place to grow and attract technology-based businesses. It is also found and determined by the General Assembly that there exists in the Commonwealth<\/span> of Virginia a need to (i) promote the technology-based economic development of the Commonwealth<\/span> by building, attracting, and retaining innovation and high-technology jobs and businesses in Virginia; (ii) increase industry competitiveness by supporting the application of innovative technologies that improve productivity and efficiency; (iii) attract and provide additional private and public funding in the Commonwealth<\/span> to enhance and expand the scientific and technological research and commercialization at state<\/span> and federal research institutions and facilities, including by supporting and working with technology transfer offices to advance research from proof-of-concept to commercialization resulting in new business and job creation; (iv) attract and provide additional private and public funding to support and enhance innovation-led entrepreneurship ecosystems and coordination of existing activities and programs throughout the Commonwealth<\/span> to create new job opportunities and diversify the economy; (v) ensure promotion and marketing of Virginia’s statewide innovation economy and support and coordinate regional marketing efforts to align local and statewide objectives; and (vi) close the Commonwealth<\/span>’s support gap through pre-seed and seed stage investments, coordination of private investor networks, and shared due diligence research. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> To achieve the objectives set forth in subsection B, there is created and constituted a political subdivision of the Commonwealth<\/span> to be known as the Commonwealth<\/span> of Virginia Innovation Partnership Authority<\/span>. The Authority<\/span>’s exercise of powers conferred by this article shall be deemed to be the performance of an essential governmental function and matters of public necessity for which public moneys may be spent and private property acquired. Nothing in this article shall be construed to diminish or limit the powers and responsibilities of institutions of higher education or other educational or cultural institutions set forth in Title 23.1, including but not limited to such institution’s authority<\/span> to establish its own independent policies and technology transfer offices. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nSHORT TITLE; DECLARATION OF PUBLIC PURPOSE (\u00a7 2.2-2351)\n\nA. This article shall be known and may be cited as the Commonwealth of Virginia\nInnovation Partnership Act.\n\nB. It is found and determined by the General Assembly that there exists in the\nCommonwealth a need to support the life cycle of innovation, from translational\nresearch; to entrepreneurship; to pre-seed and seed stage funding; and to\nacceleration, growth, and commercialization, resulting in the creation of new\njobs and company formation. A collaborative, consistent, and consolidated\napproach will assist the Commonwealth in identifying its entrepreneurial\nstrengths, including the identification of talents and resources that make the\nCommonwealth a unique place to grow and attract technology-based businesses. It\nis also found and determined by the General Assembly that there exists in the\nCommonwealth of Virginia a need to (i) promote the technology-based economic\ndevelopment of the Commonwealth by building, attracting, and retaining\ninnovation and high-technology jobs and businesses in Virginia; (ii) increase\nindustry competitiveness by supporting the application of innovative\ntechnologies that improve productivity and efficiency; (iii) attract and provide\nadditional private and public funding in the Commonwealth to enhance and expand\nthe scientific and technological research and commercialization at state and\nfederal research institutions and facilities, including by supporting and\nworking with technology transfer offices to advance research from\nproof-of-concept to commercialization resulting in new business and job\ncreation; (iv) attract and provide additional private and public funding to\nsupport and enhance innovation-led entrepreneurship ecosystems and coordination\nof existing activities and programs throughout the Commonwealth to create new\njob opportunities and diversify the economy; (v) ensure promotion and marketing\nof Virginia’s statewide innovation economy and support and coordinate\nregional marketing efforts to align local and statewide objectives; and (vi)\nclose the Commonwealth’s support gap through pre-seed and seed stage\ninvestments, coordination of private investor networks, and shared due diligence\nresearch.\n\nC. To achieve the objectives set forth in subsection B, there is created and\nconstituted a political subdivision of the Commonwealth to be known as the\nCommonwealth of Virginia Innovation Partnership Authority. The Authority’s\nexercise of powers conferred by this article shall be deemed to be the\nperformance of an essential governmental function and matters of public\nnecessity for which public moneys may be spent and private property acquired.\nNothing in this article shall be construed to diminish or limit the powers and\nresponsibilities of institutions of higher education or other educational or\ncultural institutions set forth in Title 23.1, including but not limited to such\ninstitution’s authority to establish its own independent policies and\ntechnology transfer offices.\n\nHISTORY: 2020, cc. 1164, 1169.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}