Report from The Jefferson Innovation Summit: Accelerating Innovation in the Commonwealth
- Tom Tom Foundation Staff
- Oct 31, 2024
- 2 min read
Updated: 14 minutes ago
On April 18, 2025, during the 13th Annual Tom Tom Festival's EVOLVE Conference, more than 20 delegates convened for the Jefferson Innovation Summit to discuss the ways in which universities can help to commercialize and scale new technologies and grow entrepreneurship within the Commonwealth. The delegates included representatives from a broad swath of entrepreneurs, prominent venture investors, Virginia's public universities, the Governor’s office and executive branch, academics, and non-profits.
Hosted in partnership with the UVA's Darden School of Business and the UVA Batten Institute for Entrepreneurship & Innovation, and The Virginia Innovation Partnership Corporation (VIPC), Participants met in the Bradbury for morning strategy sessions and continued conversations over lunch and afternoon working groups in the Virginia Vault. The day concluded with a networking reception and an invitation to join the Tom Tom Block Party on the Downtown Mall—connecting the Summit’s deliberations with the broader energy of community celebration.
“The continued growth of Virginia’s entrepreneurial ecosystem depends not only on supporting activities within these hubs but also on our collective ability to spread investment and innovation to all regions in the Commonwealth.” Jefferson Innovation Summit Playbook, 2025
The Playbook for Action
The Jefferson Innovation Summit Playbook, released following the event, captures the central question posed to delegates: How can Virginia strengthen its innovation ecosystem to drive sustainable, inclusive economic growth?
The Playbook highlights the Commonwealth’s unique assets—world-class universities, emerging technology sectors, and vibrant communities—and identifies the critical steps needed to turn these into a cohesive statewide innovation strategy.
“Our hope is that leaders in both the public and private spheres will be inspired to take on these new ideas and work in partnership with universities to mobilize the investment and workforce needed for deployment.” Jefferson Innovation Summit Playbook, 2025
Key recommendations include:
Building a Connected Innovation Network – Strengthen collaboration among universities, accelerators, and industry partners to create a coordinated ecosystem.
Investing in Talent and Capital – Expand access to venture funding, workforce development programs, and pathways for underrepresented founders.
Driving Regional Innovation Hubs – Support locally driven innovation zones that leverage the strengths of communities like Charlottesville, Richmond, and Hampton Roads.
Embedding Innovation in Policy – Encourage public-private partnerships and policy frameworks that incentivize experimentation and scale success.
