CIT Announces FY2018 Solicitation for Commonwealth Research Commercialization Fund

Herndon, Virginia, Oct. 05, 2017 -- The Center for Innovative Technology (CIT) announced today the Commonwealth Research Commercialization Fund (CRCF) Request for Proposals (RFP) for FY2018.

The CRCF grows Virginia’s economy by supporting high-potential technology commercialization projects at Virginia's public and private institutions of higher education, the private sector and nonprofit research institutions. A single solicitation for $2.5 million will be offered in FY2018, with five programs available for funding: Commercialization, SBIR Matching Funds, STTR Matching Funds, Matching Funds and Eminent Researcher Recruitment.

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 areas including, but limited to human health, cyber security, and smart communities. The six eligible technology sectors this round are: biosciences, cyber security, energy (clean energy), environment (water quality), information technology (data analytics) and unmanned systems.

Complete information about the FY2018 solicitation is available on CIT’s website at http://www.cit.org/initiatives/crcf/fy2018/. Here applicants will find critical resources including program guidelines, webinars, and community briefing schedules and registration links. Events are currently planned in Charlottesville, Fairfax, Harrisonburg, Williamsburg, Norfolk, Fredericksburg, and Roanoke; additional events will be announced on the above-mentioned website. Please direct questions to [email protected].

In FY2017, CIT issued one solicitation resulting in $2.7 million recommended for award in 40 projects. This leveraged the Commonwealth’s investment with approximately $7 million in matching funds. To date, the CRCF has announced nearly $22.6 million in support of 272 projects with leveraged dollars of more than $60 million. In FY2017, CRCF recipients reported a total of more than $100 million in additional follow-on investments.

About the CRCF and R&T Roadmap

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.

The Commonwealth Research and Technology (R&T) Strategic Roadmap is 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 CRCF awards. The Research and Technology Investment Advisory Committee (RTIAC), comprised of university, industry and economic development experts, reviews applications and makes award recommendations to the CIT Board.

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.

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A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/a47cd3eb-a2ce-427c-b356-f360975c15da

Kevin May
Center for Innovative Technology
7036893064
[email protected]