New Website for Womble Carlyle's Charlottesville Office

Womble Carlyle's Charlottesville Office has a new website.  We're still trying to find the perfect photograph to represent Charlottesville's spirit.  Something that captures both Charlottesville's rich history and bright future; its pastoral landscapes and burgeoning economic development; its small town feel and world-class research and development.  The current picture is the view outside our offices on the Downtown Mall.

Womble Carlyle and Charlottesville are a good fit for many reasons.  One of which is our focus on the Impact Economy -- the concept of doing good while doing well.  This new market force is underpinned by public institutions and private companies, entrepreneurs and investors, who combine the desire to achieve financial success with social responsibility.  Womble Carlyle is the first law firm in the country to launch an integrated, full-service Impact Economy practice that covers virtually all Impact sectors, including housing, environment, education, economic development, healthcare and energy.

The concept of an Impact Economy is readily apparent in Charlottesville's innovation community.  The National Venture Capital Association recently ranked Charlottesville as the fastest-growing venture capital market in the United States.  Academic research at the University of Virginia is the driving force behind much of this growth.  Sean Carr, Executive Director of the Batten Institute for Entrepreneurship and Innovation at UVa explained that "this latest news about growth in funding opportunities in our area provides some early evidence that Charlottesville has the potential to be one of the nation's best environments for starting and developing high-impact and high-growth ventures."

By their very nature, many of these start-ups begin as a good idea to addresses a need or social problem.  That idea, often created within an academic environment, is then developed and spun off into a money making venture.  The academic or social goal that served as a genesis for the new company need not be abandoned.  To the contrary, profit and social responsibility can work together.  This is a perfect example of the Impact Economy at work.

Womble Carlyle's Impact Team strives to provide strategic and advisory services to our clients in addition to legal services.  We believe that impact-focused businesses can be most effective when they engage trusted advisors to help them creatively respond to the unique challenges presented by the business of addressing and solving social problems.  You can read more about Impact issues here and learn more about Womble Carlyle's Charlottesville office here.

Charlottesville as a "Hotbed for Innovation": Fastest Growing Area in US for Venture Capital Funding

Where a court is located often determines the type of cases that it hears.  For example, the "Rocket Docket" of the Eastern District of Virginia hears a large number of patent and technology-related cases both because of the speed at which it dispenses justice and also the many technology companies in Northern Virginia--not to mention that the Patent and Trademark Office is a few blocks away from the Alexandria courthouse.

The Western District of Virginia, however, is not traditionally known for its patent docket or technology-related cases.  When I clerked for Judge Wilson in Roanoke, one of the biggest cases the court heard that year was a RICO conspiracy involving (alleged) moonshiners in Franklin County.  Growing up in nearby Lynchburg, I often heard Franklin County referred to as the "moonshine capital of world."  While the homemade distillation of spirits certainly involves some measure of technology, that RICO trial was certainly not a technology-based case.  At the time, it was not surprising that the court heard more moonshining cases than patent cases.

All of that may be about to change, however, given the recent growth of tech start-ups in the region.  This growth is largely fueled by the universities--the University of Virginia, Virginia Tech and James Madison University--located in Charlottesville, Blacksburg and Harrisonburg.

According to an article in today's Daily Progress, the Charlottesville area is the fastest growing area in the country for venture capital investment since 2010.  The largest investments were in technology companies, many of which got their start from academic research associated with UVa.  The article explains:

The Center for Innovative Technology also was involved with most of the companies receiving venture capital funding.  The center works to promote the technology industry around the state, and since 2004 it has invested seed money in numerous technology and life-science companies around the state, including local biotechnology and semiconductor companies.
...
As the market in Charlottesville has grown, [the center's investment director] said, word is spreading that it's a good place for tech startups -- it has a high concentration of talented people, a nice location and access to a major university...

The number of local companies receiving venture capital funding has increased 55 percent annually since 2010, and the amount of investment dollars pumped into the Charlottesville market has increased by $157 million.

This type of growth--fueled by the confluence of nearby universities, public-private partnerships, low taxes and livable communities--reminds me of the success of North Carolina's Research Triangle Park.  Womble Carlyle's early commitment to technology led us to open an office in RTP in the 1990s.  As a law firm, we have seen first hand how a technology driven economy can transform a region, including its courts and legal market.  Let's hope the same thing (without the traffic, of course) is happening here in Charlottesville.