Virginia Governor Ralph Northam has announced the inaugural round of Commonwealth Commercialization Fund (CCF) awards, with 34 small technology-focused businesses receiving a total of $3.4 million. The Virginia Governor Awards $100k maximum to each business to commercialize research in various sectors, such as agricultural and environmental technologies, autonomous systems, clean energy, cybersecurity, data analytics, life sciences, and space and satellites. The CCF was launched in 2020 to consolidate two legacy programs and promote innovative commercialization efforts, with grant recipients providing 1:1 match funding. The awarded businesses are expected to advance early-stage technology projects and contribute towards economic development and job creation.

Governor Northam Announces $3.4 Million to Advance Research Commercialization in Key Technology Sectors

Introduction

34 small technology-focused businesses to receive grants in the inaugural round of Commonwealth Commercialization Fund awards

Contacts: Office of the Governor: Alena Yarmosky, Alena.Yarmosky@governor.virginia.gov | Virginia Innovation Partnership Authority: Sara Poole, Sara.Poole@cit.org

Details of the Announcement

RICHMOND—Governor Ralph Northam today announced that 34 small technology-focused businesses in Virginia will receive a total of $3.4 million in Commonwealth Commercialization Fund (CCF) grants to commercialize research in an array of sectors, including agricultural and environmental technologies, autonomous systems, clean energy, cybersecurity, data analytics, life sciences, and space and satellites. These awards mark the inaugural funding round for CCF, which was developed through the Virginia Innovation Partnership Authority (VIPA).

Quotes from Officials

“Facilitating research breakthroughs and getting new technologies out of the lab and into the hands of consumers is key to driving economic growth and creating jobs in the Commonwealth,” said Governor Northam. “I am confident this first round of CCF awards will produce far-reaching benefits and congratulate these innovators and entrepreneurs on their success in developing transformative solutions to improve lives and address some of the most pressing challenges we face.”

CCF was launched in 2020 to promote innovative and collaborative commercialization efforts, consolidating two legacy programs, the Commonwealth Research Commercialization Fund and the Virginia Research Investment Fund. The Fiscal Year 2021 round offered grants of up to $100,000 to advance early-stage technology projects in strategically important industries through product or service development, market research, intellectual property protection, marketing, pilots, and more. Award recipients will provide 1:1 match funding.

“The new Commonwealth Commercialization Fund signals Virginia’s commitment to increasing commercialization outcomes for small Virginia businesses across many industries,” said Secretary of Commerce and Trade Brian Ball. “Early funding is essential in bringing new products and innovations to market and we look forward to watching the awardees’ innovations thrive in the Commonwealth.”

“We are excited to announce these awards from this first solicitation of CCF,” said Bob Stolle, President of VIPA. “VIPA was created to be a catalyst for expanding innovation and entrepreneurship in Virginia with a clear goal of accelerating scientific, technology-based research and commercialization. These awards are just the beginning of our work with companies, universities, and research institutes to advance research from proof-of-concept to commercialization.”

Program Details

CCF seeks technologies with a high potential for economic development and job creation and that position the Commonwealth as a national leader in science- and technology-based research, development, and commercialization. For more information about the CCF program, visit cit.org/ccf.

List of Awarded Companies

Here’s the complete list of all 34 companies/CCF projects that will be awarded, contingent upon acceptance of award terms and conditions:

Each company’s name, project title, grant amount, and sector are listed.

Question & Answer

1. What is the Commonwealth Commercialization Fund (CCF) and how much funding was awarded in the inaugural round?

The CCF is a program launched in 2020 to promote innovative commercialization efforts, with 34 small technology-focused businesses receiving a total of $3.4 million in grants in the inaugural round.

2. What sectors are covered by the CCF awards for research commercialization?

The CCF awards cover various sectors, including agricultural and environmental technologies, autonomous systems, clean energy, cybersecurity, data analytics, life sciences, and space and satellites.

3. What is the purpose of the 1:1 match funding requirement for grant recipients?

The 1:1 match funding requirement for grant recipients is meant to ensure that awarded businesses are committed to advancing early-stage technology projects and contribute towards economic development and job creation.