Center for Innovative Technology names president, CEO
Former state Secretary of Commerce and Trade Bob Stolle to replace Ed Albrigo
The Herndon-based Center for Innovative Technology (CIT) announced Friday it has promoted former state Secretary of Commerce and Trade Robert J. “Bob” Stolle as its new president and CEO, replacing Ed Albrigo.
A not-for-profit corporation created in 1985 by the Virginia General Assembly, CIT functions as the state government’s economic development organization for the technology sector.
“Ed has had a transformational impact on CIT and the Virginia innovation ecosystem, from launching new innovative programs in technology and industry areas critical to Virginia, to launching the Virginia Founders Fund to ensuring that Virginia companies continued to receive over $4 million in vital funding during COVID through [the Commonwealth Research Commercialization Fund], GAP, Smart Communities and Unmanned Systems programs,” CIT Board Chairman Michael Steed, founder and managing partner of Paladin Capital Group, said in a statement.
Stolle was most recently CIT’s senior vice president of policy and regional initiatives and the head of its entrepreneurial ecosystems division.
“Virginia’s entrepreneurship community has grown tremendously during Ed Albrigo’s tenure at CIT, and we are grateful for his dedicated service to our commonwealth,” Gov. Ralph Northam said in a statement. “I am pleased to welcome Bob Stolle to lead the agency and its efforts to advance our innovation economy.”
Stolle, who served as secretary of commerce and trade under former Gov. George Allen, today serves on the GO Virginia Guideline Workgroup and is on the executive committee of the University-Based Economic Developers, the GENEDGE Alliance and is on the board of eight regional technology councils in Virginia.
“CIT and the new Virginia Innovation Partnership Authority (VIPA) are in great hands,” Albrigo said in a statement. “Bob knows CIT, the VIPA legislation, VIPA budget and the key stakeholders for VIPA and CIT very well. Our communities and CIT staff highly respect Bob. There is no better choice for the new CIT president.”
Stolle earned an engineering degree from the U.S. Naval Academy and served active duty and in the Reserves as a Navy pilot. He retired with the rank of commander.