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CRCF $2.8 Million Investment Targets Research and Commercialization

Friday, May 29, 2015  
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The Commonwealth Research Commercialization Fund (CRCF) awards totaling more than $2.8 million will fund targeted areas of promising research and commercialization, including advanced manufacturing, cybersecurity, and energy and life sciences.

Governor McAuliffe said, “The CRCF program advances research with potential for economic growth in Virginia. In order to compete with other states and globally, we must focus on early stage economic development. These investments are planting seeds that are helping us grow the new Virginia economy.”

Secretary of Technology Karen Jackson added, “CRCF provides seed funding necessary to advance cutting-edge research and promote the commercialization of exciting new technologies.”

Managed by the Center for Innovative Technology (CIT), the CRCF is aligned with and guided by the Commonwealth Research and Technology (R&T) Strategic Roadmap. During this round, applications were invited under six programs -- Commercialization, Eminent Researcher Recruitment, Facilities Enhancement, Matching Funds, Small Business Innovation Research (SBIR) Matching Funds and Small Business Technology Transfer (STTR) Matching Funds -- to support the private sector, academia and nonprofit research institutes across the state.

Specifically, 14 life science companies received funds and another 11 universities were awarded.

Click here for the CIT website to view the complete list of awards and organizations.

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