Hampton’s REaKTOR Business Technology Innovation Center has received the Gold Award for Excellence in Entrepreneurial and Small Business Development from the International Economic Development Council (IEDC). The center, located at the National Institute of Aerospace, was recognized for its impact on early-stage technology companies and its role in supporting innovation-led economic growth in the Hampton Roads region.
The award will be presented at the IEDC’s 2025 Annual Conference in Detroit. The IEDC is an international organization with over 4,500 members that honors organizations and initiatives making a significant impact on their communities.
Mayor Jimmy Gray commented on the recognition: “REaKTOR’s success is a shining example of what happens when innovation, talent, and vision converge in Hampton. This national recognition from IEDC affirms what we already know — that Hampton is a place where bold ideas take flight. We are proud to support REaKTOR and the dynamic entrepreneurs who are shaping the future of our economy.”
REaKTOR provides customized support to startups and small businesses working in sectors such as aerospace, cybersecurity, advanced manufacturing, and autonomous systems. It operates through partnerships with the City of Hampton, NASA Langley Research Center, the National Institute of Aerospace, and regional universities. Services offered include mentorship, research collaboration opportunities, lab space access, prototyping support, and connections to investor networks.
City Manager Mary Bunting said: “REaKTOR is a cornerstone of Hampton’s strategy to grow a diverse and resilient economy rooted in advanced technology and entrepreneurship. The IEDC Gold Award highlights the national impact of our local efforts, and we’re proud to work alongside industry leaders like the National Institute of Aerospace and NASA Langley to support the innovators building tomorrow’s industries today.”
Since its launch, REaKTOR has assisted numerous companies in starting up or expanding operations. These efforts have contributed to job creation and brought new technologies developed locally into commercial use.
Tim Ryan, Director of REaKTOR stated: “We are thrilled and deeply honored to receive the IEDC Gold Award. This recognition reflects the dedication of our team, the strength of our partnerships, and the incredible talent and tenacity of the entrepreneurs we support. It underscores Hampton’s growing reputation as a hub for innovation, particularly in aerospace, defense, and advanced technology.”
James “Pete” Peterson from Hampton’s Economic Development Authority added: “Winning this IEDC award for the REaKTOR Innovation Center underscores Hampton’s strategic focus on driving economic growth through innovation and entrepreneurship. REaKTOR represents a key investment in our region’s future—connecting startups, industry partners, and research assets to accelerate commercialization, attract private investment, and build a more resilient, technology-driven economy.”
More information about REaKTOR can be found by visiting their website.
