How Activation Capital and Startup Virginia are shaping central Virginia’s startup growth
The Speaker:
Michael Steele was appointed president and CEO of the Virginia Biotechnology Research Partnership Authority (doing business as Activation Capital) in August 2025.
Steele comes to Activation Capital with more than two decades of leadership experience in therapeutic, diagnostic, and research verticals across global markets.
Over his career, he has held senior leadership positions at organizations, including Biocartis, Chembio Diagnostics, SeraCare Life Sciences, and Serologicals.
Steele served in general management, corporate development, commercial, and operational roles, where he executed transactions generating hundreds of millions of dollars in revenue and investment. He has led global partnering initiatives to advance therapeutic, diagnostic, and precision medicine innovations, negotiated agreements with top biopharma and life science companies, and directed strategies for large, growing organizations.
A Virginia native, Steele earned his MBA and a Bachelor of Science degree from James Madison University and completed the Senior Leadership Program at Vlerick Business School in Brussels, Belgium.
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Richard Wintsch was born and raised in Geneva, Switzerland. He attended James Madison University before returning to Switzerland to begin his career in private banking at JP Morgan.
He later moved to Richmond, where he spent 14 years at ChamberRVA, driving regional economic development.
For the past eight years, Wintsch has served as executive director of Startup Virginia, a nonprofit high-growth business incubator. Through an engaged community, strategic programs, curated resources, and a dynamic workspace, he helps ventures and entrepreneurs reach their full potential while strengthening Virginia’s economic landscape.
Central Virginia’s startup ecosystem is entering an exciting new chapter.
Join us for a webinar on January 7 at noon to learn more about two of Metro Richmond’s most important players – Activation Capital and Startup Virginia – and hear how both organizations are aligning efforts to accelerate entrepreneurship, innovation, and startup growth across the Richmond region.
Activation Capital developed the Virginia Bio+Tech Park in downtown Richmond.
Activation Capital’s new President and CEO, Mike Steele, will share his vision for the organization’s next phase. Steele, who stepped into the role in August, will outline how Activation Capital plans to grow its programming, support even more entrepreneurs, and expand its impact across the Commonwealth.
In recent years, Activation Capital has played an instrumental role in positioning Central Virginia as a life sciences and advanced pharmaceutical manufacturing hub – securing millions of dollars in federal and state funding to attract, scale, and retain innovative life science companies – and plans to build on this momentum in 2026 to further strengthen the region’s innovation ecosystem.
Activation Capital has been accelerating innovation in technology, biotechnology, and entrepreneur sectors in the Richmond region for three decades by developing the Virginia Bio+Tech Park, where it provides lab space, runs accelerator programs, offers mentorship, and connects entrepreneurs with resources to commercialize research and build successful companies.
Startup Virginia Executive Director Richard Wintsch will talk about how the organization is scaling its incubator programming, strengthening access to capital, and launching a second location in Henrico County.
Rendering of the planned Henrico Innovation Hub for Startup Virginia at 4912 Augusta Avenue.
Backed by a $1.47 million GO Virginia grant, along with significant investments from the Henrico Economic Development Authority, Richmond Economic Development, and key corporate partners, Startup Virginia is building clearer, stage-specific pathways to help entrepreneurs move from idea to scale, including new initiatives tied to the forthcoming Henrico Innovation Hub.
Founded in 2016, Startup Virginia offers resources, programming, and coworking space to help entrepreneurs and startup founders. It is the lead tenant in Capital One’s Michael Wassmer Innovation Center at 1717 E. Cary St. and will open its second location in Henrico in late 2026.
Together, Steele and Wintsch will explore how their organizations complement one another and why a more coordinated regional approach matters now more than ever.