New collaboration will accelerate breakthrough discoveries from the lab into the marketplace

RICHMOND, Va., Oct. 7, 2026 /PRNewswire/ -- The Virginia Innovation Partnership Corporation (VIPC) and James Madison University (JMU) announced that JMU will become Virginia's first R2 research university to join VIPC's Lab-to-Launch partnership, expanding a unique statewide initiative designed to accelerate university research commercialization, technology transfer, and startup spinouts. To mark this milestone, JMU President Jim Schmidt and VIPC President and CEO Joe Benevento signed a ceremonial Memorandum of Understanding in Richmond on October 6.

VIPC created Lab-to-Launch through a first-of-its-kind coordinated statewide collaboration with Virginia's six R1 research universities. VIPC's new partnership with JMU will further expand access to resources and growth opportunities for researchers and innovators across the Shenandoah Valley and throughout Virginia.

Through Lab-to-Launch, JMU will be able to utilize Virginia's first-ever Fast-Track License, an innovative standardized agreement designed to simplify and streamline university technology transfer and intellectual property (IP) licensing. Supported through VIPC's new Lab-to-Launch grant program, the founder-friendly Fast-Track License offers a faster, easier, and less costly pathway for inventors and entrepreneurs to efficiently license university technology IP and successfully spin off and launch new startup companies.

In addition, VIPC will support new Entrepreneurs-in-Residence at JMU to help connect entrepreneurial talent and industry expertise with university researchers and scientists and will collaborate with JMU to pursue opportunities with corporate partners, investor networks, and public-private funding resources.

"Virginia is home to world-class research universities like JMU and through Lab-to-Launch we are enhancing effectiveness, increasing accessibility, and accelerating the translation of university research into real-world impact that can strengthen communities and improve lives," said Joe Benevento, President and CEO of VIPC. "Welcoming James Madison University as our first Lab-to-Launch R2 university partner speaks to the foundation of statewide collaboration we're building and the opportunities we're now expanding to another region of the Commonwealth."

"I'm delighted JMU is joining VIPC's Lab-to-Launch initiative alongside the Commonwealth's R1 research universities," said JMU President Jim Schmidt. "Working with the Virginia Innovation Partnership Corporation will give our researchers and students more support to turn promising ideas into new companies and products. I'm especially excited about what this could mean for innovators here in the Shenandoah Valley. This partnership is a welcome step for JMU and for Virginia, and it helps us deliver on the work we've set out to do in The Madison Promise."

"We are excited for JMU to join Lab-to Launch and expand our partnership with VIPC," said Anthony Tongen, Vice President of JMU's Division of Research, Economic Development and Innovation. "By connecting promising research with entrepreneurial expertise, commercialization resources, and capital, this initiative will help move more JMU discoveries to the marketplace while creating new opportunities for innovation, investment, and economic growth in the Shenandoah Valley and across Virginia."

Virginia's research universities statewide collectively represent over $2.5 billion in annual research and development. Lab-to-Launch was originally launched in 2025 through collaboration between VIPC and all six Virginia R1 research universities – University of Virginia, Virginia Tech, George Mason University, Virginia Commonwealth University, Old Dominion University, and William & Mary – and reflects VIPC's innovation ecosystem growth strategy to connect ideas, talent, and capital and to accelerate pathways for university discoveries to become new technologies and high-growth companies that strengthen Virginia's communities and economy.

About Virginia Innovation Partnership Corporation
The Virginia Innovation Partnership Corporation (VIPC) serves as the Commonwealth's designated statewide economic development authority for growing Virginia's innovation ecosystems through public-private partnership. For more information, visit www.VIPC.org.

Media Contact
Amber Salter
Amber.Salter@VirginiaIPC.org
804.591.9591

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SOURCE VIPC