Activation Capital, Virginia’s life sciences innovation ecosystem development organization, has appointed Michael Steele as its new president and chief executive officer. Steele succeeds Robert Ward, who has served as interim CEO since July 2024.
A seasoned life sciences executive, Steele brings more than 20 years of leadership experience across therapeutic, diagnostic, and research markets. He has held senior roles at companies including Biocartis, Chembio Diagnostics, SeraCare Life Sciences, and Serologicals, where he drove growth through corporate strategy, M&A, licensing, investor relations, and global partnerships.
A Virginia native, Steele earned both his MBA and bachelor’s degree from James Madison University and completed the Senior Leadership Program at Vlerick Business School in Brussels.
“Activation Capital’s mission depends on exceptional leadership, and Michael brings the vision, expertise, and collaborative spirit needed to position the organization for even greater impact,” said Michael Rao, president of Virginia Commonwealth University and chair of the Activation Capital Board. Rao also thanked Robert Ward for his leadership during a time of rapid growth.
Virginia leaders echoed their support. Juan Pablo Segura, Secretary of Commerce and Trade, said Steele is well positioned to help the organization catalyze new partnerships and expand regional impact, while board member Garrison Coward noted Steele’s “deep experience in life sciences, business development, and strategic vision.”
Steele joins Activation Capital as it builds momentum. In the past year, the organization launched the Frontier BioHealth accelerator, welcomed its first cohort of 10 high-growth startups, expanded its pre-accelerator programs, and secured a multimillion-dollar GO Virginia grant to scale biohealth sector development.
“I am energized and honored to lead Activation Capital at this pivotal moment,” Steele said. “In our mission of elevating Virginia’s life science ecosystem, my goal is simple yet impactful: create meaningful jobs and attract investments to catalyze our researchers, entrepreneurs, and partners to bring innovation to life, right here in the Commonwealth.”
