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Washington Business JournalGov. Tim Kaine has formed an Innovation and Entrepeneurship Investment Authority in Virginia, consolidating two existing groups that work on state research and development.

The Innovative Technology Authority, established in 1984 and the Virginia Research and Technology Advisory Commission comprise the new authority. The General Assembly signed it into law earlier this year.

The group has a 13-member board of state business leaders including Ted Cahall, chief technology officer of AOL LLC; Ray Johnson, senior vice president of Lockheed Martin Corp.; and representatives from The George Washington University, George Mason University and James Madison University.

Gov. Tim Kaine creates an Innovation and Entrepeneurship Investment Authority - Washington Business Journal: