$2.4 million in funding opportunities available for Virginia’s research community

Herndon, VA, Oct. 09, 2018 (GLOBE NEWSWIRE) -- The Center for Innovative Technology (CIT) announced today the Commonwealth Research Commercialization Fund (CRCF) Request for Proposals (RFP) for FY2019.

The CRCF grows Virginia’s economy by supporting high-potential technology commercialization projects at Virginia's public and private institutions of higher education, technology companies and nonprofit research institutions. A single solicitation for $2.4 million will be offered in FY2019 through five programs: Commercialization, SBIR Matching Funds, STTR Matching Funds, Matching Funds and Eminent Researcher Recruitment.

Applications this round are invited in cyber security, clean energy, life sciences, data analytics and unmanned systems. Awards from the CRCF further the goals and industry opportunities set forth the in the Commonwealth Research and Technology (R&T) Strategic Roadmap, advancing Virginia’s position in strategically important sectors.

“CIT is pleased to announce the FY2019 solicitation round on behalf of the Innovation and Entrepreneurship Investment Authority and the Commonwealth of Virginia,” said Ed Albrigo, CIT President and Chief Executive Officer. “There are public and private organizations across the State that are continuously pushing the boundaries of research and development. The CRCF is providing funding at a critical juncture in the process that allows Virginia to stay on the cutting edge of innovation.”

Complete information about the FY2019 solicitation is available on CIT’s website at http://www.cit.org/initiatives/crcf/fy2019/. Here applicants will find critical resources including program guidelines, webinars, solicitation timeline and upcoming briefings. The CRCF team will be in regions across the Commonwealth throughout October and early November to present the FY2019 solicitation and answer questions. Events are currently planned in Abingdon, Blacksburg, Charlottesville, Danville, Fairfax, Fredericksburg, Harrisonburg, Manassas, Norfolk, Richmond, Roanoke, Sweet Briar, Williamsburg, and Wise. Please direct questions to crcf@cit.org.

In FY2018, CIT issued one solicitation resulting in $2.7 million recommended for award in 34 projects. This leveraged the Commonwealth’s investment with approximately $6 million in matching funds. To date, the CRCF has announced nearly $25.3 million in support of 306 projects with leveraged dollars of more than $60 million. In FY2018, CRCF recipients reported a total of more than $100 million in additional follow-on investments.

About the CRCF

The Commonwealth Research Commercialization Fund (CRCF) advances science- and technology-based research, development and commercialization to drive economic growth in Virginia and to encourage collaboration among its institutions of higher education and partnerships between these colleges and universities and business and industry.

About the Center for Innovative Technology, www.cit.org

Since 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.

Kevin May
Center for Innovative Technology
7036893064
kevin.may@cit.org

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