This Week's Latest Tech News in Richmond, VA - Sunday April 13th 2025 Edition

Richmond's tech scene is experiencing unprecedented growth, with a 16% increase in the tech workforce, making it the second-best state for tech professionals.

The city now hosts over 23,300 tech workers, with 44% of the talent identifying as nonwhite, showcasing its commitment to diversity. Major employers like Capital One and CarMax are expanding their cybersecurity and software development divisions, while Richmond's emerging tech ecosystem is driving real estate development, particularly in areas like Scott's Addition and Manchester.

The innovation landscape is further enriched by Virginia Tech's recent achievements, including nearly $450 million in research expenditures and the launch of the Virginia Tech Advantage initiative.

Local success stories include Caf2Code's expansion, investing $135,000 and creating 20 new tech jobs.

The city's affordability, with housing costs $100,000 below the national average, continues to attract startups and established companies alike.

• BitTech Solutions' investment: BitTech Solutions has made a significant $5 million investment in cloud services and AI infrastructure.
• GreenTech-RVA's launch: GreenTech-RVA is pioneering eco-friendly smart home technologies.

These developments demonstrate Richmond's evolution into a comprehensive tech hub, offering competitive salaries ranging from $140K-149K in leading firms.

Virginia Commonwealth University's innovation ecosystem continues to expand in 2025, building on its successful Startup Accelerator program launched in 2024.

The university's commitment to innovation is evident through its 2,700-square-foot Shift Retail Lab, which serves as a front door to Richmond's entrepreneurial community.

This expansion comes as VCU celebrates a landmark year in research and innovation, with the Innovation Gateway reporting over $37 million in licensing revenue and supporting more than 60 startups over the past decade.

The innovation hub features collaborative spaces equipped with advanced prototyping tools, mentorship programs, and comprehensive startup support services. Through VCU Demo Days, a bi-annual pitch competition, students showcase their ventures to potential investors and industry partners.

The facility hosts regular workshops, connecting students with Richmond's growing tech community while providing hands-on experience in product development and commercialization.

Impact metrics from VCU's tech transfer office show impressive growth with 1,247 invention disclosures and 206 licenses/options generated, positioning Richmond as an emerging innovation center.

The hub's activities align with VCU Research Weeks 2025, highlighting the university's role in driving regional economic development through technology commercialization and entrepreneurship support.

In an impressive stride forward for Richmond's burgeoning tech scene, GreenTech Inc., a local startup committed to sustainable technology innovation, has recently secured a significant Series A funding of $5 million, joining the ranks of other successful greentech ventures raising substantial capital in 2025.

This investment round, led by Evo Ventures with participation from environmentally focused firms, positions GreenTech Inc. alongside industry leaders like Twelve and Air Company in the race for sustainable innovation.

The company's groundbreaking work in eco-friendly energy solutions has demonstrated a remarkable 30% reduction in energy consumption, aligning with TIME's recognition of top GreenTech companies making significant environmental impact.

The fresh capital will power several key initiatives, including:

• R&D team expansion: Building a stronger team to drive innovation and maintain a leading edge in the industry.
• Operational scaling: Enhancing operations to meet increasing market demand efficiently.
• East Coast market penetration: Expanding presence and influence throughout the Eastern United States.
• Strengthening government partnerships: Collaborating with governmental bodies to implement effective energy efficiency policies.

CEO Robert Miller outlines an ambitious vision: "This funding positions us at the forefront of the green tech movement, enabling us to create innovative solutions while contributing to Richmond's emerging status as a sustainable technology hub." The investment's timing coincides with broader industry growth, as the sector sees unprecedented support for climate-smart solutions.

GreenTech Inc.'s success story adds to Richmond's rising profile in the sustainable technology landscape, promising new job opportunities and environmental advances for the community.

The buzz around Richmond is electric as Capital One's innovative hackathon returns, drawing tech enthusiasts from across the region.

This signature event has evolved into more than just a coding competition - it's become a catalyst for innovation and career development. The 2025 edition features expanded tracks including AI, fintech, and sustainable tech solutions, with teams competing for a substantial $250 prize pool in the financial technology category.

Building on their successful track record of fostering innovation through hackathons, Capital One continues to emphasize learning, building, and sharing as core elements of the event.

Participants engage in hands-on experiences with cutting-edge technologies while developing solutions for real-world challenges. This year's event introduces special tracks for first-time hackers and focuses on UI/UX development, reflecting the company's commitment to inclusivity and user-centered design.

The hackathon has proven particularly impactful for early career professionals, with dedicated programs for students and recent graduates looking to break into tech.

Teams will present their projects to senior leadership, gaining valuable exposure and feedback. The event features cross-department collaboration opportunities, cloud platform exploration, and mobile development challenges.

Beyond the competition, participants can connect with industry leaders, receive mentorship, and potentially land interviews with leading tech companies. With Richmond's tech scene experiencing a projected 16% workforce growth, this hackathon serves as a crucial pipeline for talent development and innovation in the region.

Richmond is charging into a high-tech future with Dominion Energy's Grid Transformation Plan, which includes innovative smart grid pilots and battery storage projects reshaping the city's energy landscape.

The initiative, launched in 2025, has turned Richmond into a testing ground for advanced energy management systems, including a groundbreaking Virtual Power Plant Pilot Program that optimizes demand through various tech applications.

• Advanced Metering Infrastructure for real-time usage data.
• Distribution Automation for automatic power rerouting during outages.
• Demand Response programs encouraging smart consumption during peak periods.

Early results show a 15% improvement in energy efficiency across pilot areas.

Adding to this momentum, three new battery storage pilot projects received state approval, featuring cutting-edge iron-air and zinc-hybrid technologies that can discharge power for up to 100 hours.

Storage Technology	Discharge Duration	Future Plans
Iron-Air	Up to 100 hours	Complementing smart grid infrastructure
Zinc-Hybrid	Up to 100 hours	Building 1,000 to 3,000 MW over 15 years

These storage solutions will complement the existing smart grid infrastructure, with plans to build between 1,000 and 3,000 MW of storage capacity over the next 15 years.

The pilot program is already showing promising results in grid reliability and consumer engagement. Project teams are working closely with residents and local governments to minimize impacts while maximizing benefits.

Looking ahead, Dominion Energy aims for a city-wide rollout by 2027, positioning Richmond as a leader in smart city development.

This comprehensive transformation plan emphasizes Richmond's evolution into a major tech hub, proving that sustainable energy solutions can be both innovative and practical for everyday use.

Richmond's transformation into an AI powerhouse is gaining momentum in 2025, with major players like Capital One leading fintech innovation and creating thousands of competitive tech jobs.

The AI sector's growth has attracted diverse companies, from established firms to startups, with top-rated AI development companies like Goji Labs and Saigon Technology choosing Richmond as their base.

The city's tech workforce is projected to grow by 16% by 2025, supported by significant funding including $500 million from the CHIPS Act. The startup ecosystem is particularly vibrant in the AI space, with companies like Empower.AI and Ignitho Technologies implementing AI solutions across various sectors including federal missions, healthcare, and financial services.

Job opportunities are expanding rapidly, with roles ranging from data scientists to machine learning engineers, particularly at companies like CarMax and Thermo Fisher Scientific, which are using AI for everything from vehicle assessments to genetic analysis.

The average hourly rates for AI development services in Richmond range from $35 to $150, making it competitive with other tech hubs while maintaining lower operating costs.

The city's housing costs remain approximately $100,000 below the national average, attracting both talent and companies. This growth is supported by a strong educational foundation, with local institutions partnering with tech companies to develop talent pipelines.

The collaboration between startups, educational institutions, and established companies is creating a sustainable ecosystem for AI innovation, positioning Richmond as a strategic player in the national tech landscape.

Richmond's evolving fintech landscape continues to make waves as Capital Solutions Inc.

partners with EuroBank Group. The collaboration leverages Richmond's established position as a fintech hotspot, where companies like Capital One operate their largest corporate campus with 13,000 workers.

This strategic alliance aims to enhance cross-border transactions and streamline services for over 3 million customers across Europe and the US. The partnership showcases how technology banking solutions are evolving to meet global demands, particularly in venture debt and recurring revenue services.

Capital Solutions plans to utilize EuroBank's network to incorporate blockchain and AI-driven financial services, building on Richmond's robust telecommunications infrastructure and skilled workforce.

The initiative aligns with the trend of major banks investing significantly in fintech development, as seen with recent industry partnerships that focus on open finance solutions and connected banking services.

Matthew Jones, CEO of Capital Solutions, emphasizes that this collaboration will drive innovation in traditional European banking systems, supported by a $150 million investment in tech developments by 2026.

The partnership not only strengthens Richmond's position as a fintech hub but also demonstrates how smaller cities can compete effectively with traditional financial centers through strategic global alliances.

Richmond's tech scene is about to level up with multiple major events hitting the city in 2025. RVAsec 14, the premier cybersecurity conference, kicks off June 3-4 at the Downtown Marriott, featuring tech veterans Bruce Potter and Christofer Hoff as keynote speakers.

Just days before, The Code + Cloud Conference brings together developers and cloud professionals on May 29 for what's being called the ultimate developer summit.

Adding to the mix, The Sharp Viewpoint Series at the University of Richmond will explore the intersection of technology and civil discourse, featuring talks from legal scholars and tech industry leaders.

The convergence of these events positions Richmond as an emerging tech hub, with over 5,000 expected participants across all conferences.

• Topic diversity: Topics span from cybersecurity and cloud computing to AI ethics and sustainable tech, with specialized tracks for both technical and business professionals.
• Interactive opportunities: Interactive elements include a Capture The Flag competition with $2,000 in prizes, hands-on developer workshops, and networking events designed to connect local talent with industry leaders.
• Milestone for Richmond: This concentration of tech events marks a significant milestone for Richmond's tech ecosystem, drawing both established companies and startups to the area while providing valuable opportunities for local professionals to engage with cutting-edge technologies and industry trends.

Richmond's tech scene is getting a major boost through public-private partnerships that are transforming the city into an innovation hub.

At the upcoming Government Innovation Showcase on April 9th at the Richmond Marriott Downtown, state leaders will spotlight how these collaborations are leveling up public services through AI, data integration, and digital transformation.

The Virginia Innovation Partnership Corporation has been driving success, helping launch over 10,000 high-growth startups and securing Virginia's spot as a top 10 state for venture capital investment.

The Tech Startups Incubator Program, launched with Venture Richmond, has already helped 20 new companies get off the ground, creating 150+ local jobs. In the infrastructure space, the $30 million Smart Infrastructure Project is set to cut energy costs for everyone through a more efficient power grid.

The city's also focusing intensively on tech education, with STEM programs seeing 35% more students signing up since 2023. These partnerships have pumped an estimated $250 million into Richmond's economy this year alone, and they're not just about the money - they're building a tech community that's both innovative and inclusive.

City leaders are focused on making Richmond a place where tech talent wants to be, with initiatives that blend government resources with private sector innovation.

The collaborative approach is clearly working, setting Richmond up as a serious player in the tech world while making sure the benefits reach everyone in the community.

Richmond's evolution into a smart city is reshaping the urban landscape through data-driven solutions and community-focused initiatives. The Climate-Smart Cities program integrates technical data with community input to identify climate-vulnerable areas and drive strategic investments in resilient infrastructure.

Working alongside the Trust for Public Land, Richmond has developed comprehensive strategies to address its 32-mile shoreline's susceptibility to sea-level rise while promoting climate justice.

The Smart City Pilot program, launched in partnership with Dominion Energy and GRTC, demonstrates Richmond's commitment to innovative urban solutions, particularly in the 8th District.

The pilot incorporates smart lighting systems, real-time transit information, and adaptive traffic management, reducing congestion by 20% and operational costs by 15%.

The City Center Innovation District, spanning 26 acres, represents the culmination of Richmond's smart city vision, featuring biotech labs, connected infrastructure, and sustainable design principles.

This development, combined with the expansion of the GRTC Pulse transit system, positions Richmond as a model for sustainable urban development. The city's integrated approach to smart technology deployment ensures that innovations directly benefit residents through improved mobility, enhanced public services, and greater environmental resilience.

These initiatives reflect Richmond's dedication to creating an inclusive, efficient, and forward-thinking urban environment that serves all community members while preparing for future challenges.

Richmond's STEM education landscape is experiencing unprecedented growth in 2025, with innovative programs reshaping how students learn and engage with technology.

STEAM Discovery Academy is leading the charge with their new partnership at St. Edward Epiphany School, offering week-long courses that combine hands-on activities with creative challenges for K-8 students.

The city's commitment to tech education extends to the high school level, where The Governor's STEM Academy at Richmond Technical Center provides specialized programs for 9th and 10th graders, focusing on rigorous academic and technical training.

Local institutions are also embracing innovation, with CodeRVA Regional High School implementing a blended learning approach that combines online and face-to-face instruction in computer science and coding.

The impact is measurable - 75% of Richmond students in STEM programs show improved academic performance, with the unemployment rate among STEM graduates at just 3.5%.

These initiatives are supported by industry partnerships, including Dominion Energy's "Future Innovators Program" reaching 2,000 students, and Capital One's coding bootcamps showing a 40% increase in participation from 2024.

The programs provide students with hands-on experience, industry mentorship, internship opportunities, and essential problem-solving skills. As Principal Thomas Davis of Richmond High School notes, these STEM partnerships serve as launching pads for students to tackle real-world challenges, positioning Richmond as a growing hub for tech education and innovation.

Richmond has solidified its position as a thriving tech hub, with a remarkable 16% workforce growth in 2025, making it the second-best state for tech professionals.

The city's tech evolution is powered by major players like Capital One and CarMax, who are actively expanding their cybersecurity and software development teams.

A significant driver of this growth is the VA Bio+Tech Park, a 34-acre urban tech community housing nearly 70 companies and research institutions, which has become a catalyst for innovation and collaboration.

The economic impact is projected to reach $10.9 billion, fueled by corporate expansions and an influx of startups.

The city's tech landscape is particularly appealing due to its competitive advantages.

Housing costs remain $100,000 below the national average, while tech salaries range from $140,000-$149,000 at leading firms.

The University of Richmond's launch of new data analytics and science programs, supported by a $50,000 grant through the Richmond Innovation Fellows program, is strengthening the talent pipeline.

Major employers like BitTech Solutions are investing heavily in cloud services and AI infrastructure, while GreenTech-RVA is pioneering eco-friendly smart home technologies that reduce energy costs by up to 75%.

Richmond's commitment to tech education is evident through partnerships between Richmond Public Schools and industry giants like Capital One and Amazon, achieving an impressive 85% placement rate in tech careers.

The upcoming Richmond Tech Conference will feature networking events and sessions on blockchain, cloud migration, and AI integration, further cementing the city's status as a tech powerhouse.

With continued investment in infrastructure, education, and innovation, Richmond's tech ecosystem is poised for sustained growth and influence in the national technology landscape.