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 work supporting early-stage technology ventures and promoting economic growth through innovation.
The award will be formally presented at the IEDC’s 2025 Annual Conference in Detroit. The IEDC is an international organization with more than 4,500 members focused on advancing economic development initiatives worldwide.
“REaKTOR’s success is a shining example of what happens when innovation, talent, and vision converge in Hampton,” Mayor Jimmy Gray said. “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 targeted support to startups and small businesses in fields such as aerospace, cybersecurity, advanced manufacturing, and autonomous systems. It works closely with partners including the City of Hampton, NASA Langley Research Center, the National Institute of Aerospace, and regional universities. Services offered by REaKTOR include mentorship opportunities, research collaboration access, laboratory space, prototyping assistance, and connections to investor networks.
“REaKTOR is a cornerstone of Hampton’s strategy to grow a diverse and resilient economy rooted in advanced technology and entrepreneurship,” City Manager Mary Bunting said. “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 establishment, REaKTOR has contributed to launching and expanding dozens of companies in Hampton Roads. The center helps move research discoveries into commercial products or services by providing practical business support.
“We are thrilled and deeply honored to receive the IEDC Gold Award,” said Tim Ryan, Director of REaKTOR. “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, director of 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.”
Hampton continues to be recognized for its historical significance as one of America’s oldest English-speaking settlements as well as its ongoing leadership in aerospace through institutions like NASA Langley Research Center.
More information about REaKTOR can be found at their official website: https://reaktorcenter.com/.
The official press release can be viewed here: https://hampton.gov/CivicAlerts.aspx?AID=5349.
