Joe Benevento has been named the permanent president and CEO of the Virginia Innovation Partnership Corp., a state-created nonprofit that serves as an economic development driver for the commonwealth's tech sector.
Benevento became the VIPC’s interim CEO in September after Bob Stolle stepped down. Stolle had been with the VIPC and its predecessor organization, the Center for Innovative Technology, for 13 years, serving as CEO for the last three.
Benevento was selected as the organization’s permanent chief exec after a six-month nationwide search, the nonprofit said Wednesday.
“Joe Benevento brings tremendous leadership talent and investment experience that will greatly serve the Commonwealth of Virginia” said Gov. Glenn Youngkin said in a statement. “A robust innovation-driven economy that accelerates R&D commercialization, catalyzes private investment capital, and spurs entrepreneur startup growth will unleash opportunity throughout the entire Commonwealth. I know Joe will hit the ground running as CEO of VIPC."
Benevento has also served as the state's deputy secretary of commerce and trade since 2022. He began his professional career with Goldman Sachs and THL Partners. He was also previously managing director of a Richmond family-office investment firm.
He earned a bachelor’s degree from Cornell University and an MBA from Harvard Business School.
In a statement, Benevento said the VIPC is well-positioned to help Virginia develop, attract and retain “talent, capital and innovation, which expands investment, growth and opportunity” across the state.
In his roles with the state and VIPC, Benevento has worked closely with economic development agencies and senior leadership at the state’s major universities, including Virginia Commonwealth University, the University of Virginia and Virginia Tech. He currently serves on the boards of the Northern Virginia Technology Council, the Roanoke-Blacksburg Innovation Alliance, Virginia Biosciences Health Research Corp., Virginia Alliance for Semiconductor Technology and the Virginia Space Grant Consortium.
In a joint statement, Debbie Irwin, the managing director of Richmond’s Lighthouse Labs, and Richard Wintsch, the executive director of Richmond-based Startup Virginia, said they appreciated Benevento’s “ongoing support for founders and entrepreneurs” and that they look forward to exploring ways “to further grow and partner with VIPC.”
“Joe Benevento and VIPC have been great partners in the broad coalition to advance the development of an Innovation Hub for Life Sciences in Central Virginia and we’re excited to continue to work closely with Joe in his new role as CEO of VIPC,” Chandra Briggman, president of Richmond’s Activation Capital, said in a statement.
