CIT announces FY2016 solicitation for Commonwealth Research Commercialization Fund

cit logoThe Center for Innovative Technology announced the Commonwealth Research Commercialization Fund (CRCF) Request for Proposals (RFP) for FY2016. The solicitation opens on October 30, 2015 and Letters of Intent (LOIs) are due by Friday, December 4. Award announcements are planned for early June 2016.

The CRCF grows Virginia’s economy by supporting high-potential technology commercialization projects at Virginia’s public and private colleges and universities, the private sector, and nonprofit research institutions. A single solicitation for $3.4 million will be offered in FY2016, 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. Eligible technology sectors for all programs this round are cyber security, energy, information technology – specifically data analytics, life sciences and unmanned systems for air, land, sea or space.

Details for the FY2016 solicitation, including the link to submit a Letter of Intent (LOI), are available on CIT’s website at http://www.cit.org/initiatives/crcf/fy2016-solicitation/. The website provides additional resources, including program guidelines, webinars, FAQs, sample applications and templates. Please direct questions tocrcf@cit.org.

CIT issued one solicitation in FY2015 resulting in $2.8 million invested in 38 projects across the Commonwealth. The Commonwealth’s investment was used to leverage approximately $5.6 million in additional matching funds. To date, the Fund has announced nearly $16.5 million for 184 projects; outcomes include companies formed, jobs created, intellectual property created, regulatory approvals, new investments made, and technology licensed.

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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