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CRCF $2.7 Million Investment Targets Research and Commercialization

Friday, June 15, 2018  
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The Commonwealth Research Commercialization Fund (CRCF) awards totaling more than $2.7 million will fund targeted areas of promising research and commercialization, including 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.”
“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.”

Specifically, 18 life science companies received funds and another 7 universities were awarded.

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

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