RICHMOND—Governor Ralph Northam announced today nearly $2.7 million in funding in support of 34 Commonwealth Research Commercialization Fund (CRCF) awards. The projects represent exciting advancements in six industries: biosciences and medical technologies, cyber security, clean energy, water quality, data analytics and unmanned systems.
“The Commonwealth Research Commercialization Fund accelerates technological innovation and economic growth in Virginia by identifying potential solutions to important state and national problems,” said Governor Northam. “The CRCF is a great example of how the public-sector can leverage outside resources and innovation to serve citizens better. I commend these recipients and look forward to seeing their projects come to fruition.”
During this solicitation round, applications were invited under five programs to support the private sector, academia and nonprofit research institutes across the Commonwealth: Commercialization, Eminent Researcher Recruitment, Matching Funds, SBIR Matching Funds and STTR Matching Funds.
Applications underwent a four-step review process beginning with administrative compliance performed by the Center for Innovative Technology (CIT) and followed by subject matter evaluation; subject matter experts were drawn from industry, academia and government. Applications were then evaluated by members of the Research and Technology Investment Advisory Committee (RTIAC), a board of university, industry and economic development experts, who made recommendations for funding to the CIT Board of Directors for final approval. Managed by CIT, the CRCF supports technology priorities identified in the Commonwealth Research and Technology Strategic Roadmap.
“This solicitation continues the Commonwealth Research Commercialization Fund’s mission to advance outstanding projects that leverage public and private investments, strengthening economic development across the state,” said Secretary of Commerce and Trade Brian Ball.
“The quality and quantity of applications received during the FY2018 solicitation were impressive. The round brought in nearly 120 applications from across the Commonwealth,” said Ed Albrigo, CIT’s President and Chief Executive Officer. “This strong turnout demonstrates the need for funding at a critical time in these research commercialization projects. We look forward to monitoring the progress of the latest recipients as they generate significant long-term benefits for the Commonwealth’s economy.”
The following CRCF projects will be awarded, contingent upon acceptance of award terms and conditions:
SBIR Matching Funds Program
STTR Matching Funds Program
Matching Funds Program
Eminent Researcher Recruitment Program
The list of FY2018 and prior year CRCF award recipients can be accessed at www.cit.org/initiatives/crcf-awards/.
Future CRCF funding opportunities will be posted on the CIT website at www.cit.org/initiatives/crcf/. Those interested in receiving CRCF announcements should fill out the online form to join the CRCF listserv. Questions may be directed to the CRCF team at firstname.lastname@example.org.
About the CRCF and R&T RoadmapThe Commonwealth Research Commercialization Fund (CRCF) advances science- and technology-based research, development and commercialization to drive economic growth in the Commonwealth and create and foster high potential technology companies.
In support of the Commonwealth’s overall plan to maximize the return on investment of taxpayer dollars and to enhance economic development, CRCF awards must further the goals set forth in the Commonwealth Research and Technology (R&T) Strategic Roadmap, a comprehensive planning tool the Commonwealth uses to identify research areas worthy of economic development and institutional focus. It provides elected and other officials with priorities in key industry sectors that have commercial promise and that are eligible for new CRCF awards.
The Research and Technology Investment Advisory Committee (RTIAC), comprised of university, industry and economic development experts, supports the Roadmap and the CRCF, including by making CRCF award recommendations the CIT Board.
About the Center for Innovative Technology, www.cit.orgSince 1985, CIT, a nonprofit corporation, has been Virginia’s primary driver of innovation and entrepreneurship. CIT accelerates the next generation of technology and technology companies through commercialization, capital formation, market development and revenue generation services. To facilitate national innovation leadership and accelerate the rate of technology adoption, CIT creates partnerships between innovative technology start-up companies and advanced technology consumers. CIT’s CAGE Code is 1UP71. To learn more, please visit www.cit.org. Follow CIT on Twitter @CITorg and add the Center for Innovative Technology on LinkedIn and Facebook.
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