A familiar face is returning to the Center for Innovative Technology (CIT): The org has appointed Sean Mallon as VP for its Entrepreneurial Ecosystems Division.
State of Virginia-created CIT is a nonprofit corporation that invests in technology companies within the state. The Entrepreneurial Ecosystems Division is one of four the nonprofit recently created as the operating arm for the Virginia Innovation Partnership Authority. Investment, Commercialization and Strategic Initiatives make up the other three divisions.
Mallon has been deeply engaged in the entrepreneurial ecosystem since 1993, and has called Virginia home since 1996, he told Technical.ly.
“I have enjoyed a career as an entrepreneur, as an early-stage investor, as a senior executive in several leading companies and organizations, and as a mentor to other entrepreneurs,” he said.
This new role won’t be the first time Mallon is working with CIT: He was previously senior investment director for CIT GAP Funds, an early-stage investment fund managed by the nonprofit, for four years. He traveled throughout the Commonwealth and had a special focus on sourcing and investing in high-growth companies in the Hampton Roads region.
Between 2016 to 2019, Mallon led the portfolio of entrepreneurial support programs at George Mason University, including the technology transfer office, student-focused programs and facilities, and other Virginia-wide entrepreneurial support programs. While working for the racially diverse university, Mallon said he developed a keen understanding of the inner workings of a large public university, and gained a strong appreciation for programs that support equal access, diversity and inclusiveness.
Overall, Mallon has 20 years of investment and startup experience to bring to his new position.
“CIT has been a force in Virginia and in the #dctech ecosystem for many years, and CIT GAP Funds is Virginia’s most active investor,” he said. “The #dctech ecosystem should know that the Entrepreneurial Ecosystems Division will work closely with entrepreneurial support organizations in Northern Virginia to help strengthen their programs, ensure sustainability, and improve entrepreneurial outcomes.”
In this new role as VP of the division, Mallon will focus on developing a portfolio of entrepreneurial resources in Virginia, and he said he’ll work to ensure programs are inclusive to underrepresented communities, especially when it comes to raising capital. He had already been supporting CIT through a contract role since March and will now be based out of the nonprofit’s headquarters in Richmond.
“The VP role is a good fit for me because it leverages the Virginia-based relationships and ecosystem-building skills I have developed over many years,” he said. “Each of Virginia’s regions have different needs and circumstances, but they share the common goals of wanting more innovative startup companies that grow, create jobs and provide economic benefits to the communities in which they operate.”-30-