news twenty four virginia businesses and university researchers awarded 1 5 million in grant funding
Virginia

Twenty-four Virginia businesses, university researchers awarded $1.5M in grant funding

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The Virginia Innovation Partnership Corporation’s Commonwealth Commercialization Fund (CCF) awarded $1.5 million to 24 Virginia-based businesses and university researchers for the third quarter of 2022.

CCF has awarded more than $42 million to Virginia’s technology ecosystem since 2012, according to a press release.

“Virginia recognizes the importance of moving university-developed innovations into the commercial market, and supporting emerging startups as they develop and grow,” Gov. Glenn Youngkin said in the press release. “VIPC’s CCF program consistently provides critical funding support to university projects with strong commercialization potential, as well as to scalable technology-driven private startups. The VIPC and these Virginia-based businesses and universities contribute to our economic vitality and new high-paying jobs.”

The Youngkin administration is working toward goals to add 400,000 jobs and create 10,000 startups in the Commonwealth by 2026. VIPC’s CCF and Virginia Venture Funds contribute by providing early funding support for university-based innovators, entrepreneurs and startups.

“The 24 CCF awards that we celebrate with this announcement represent a variety of industries and innovators who have all discovered that Virginia values their entrepreneurial spirit and vision for the future” Secretary of Commerce and Trade Caren Merrick said in the press release. “Helping university-based innovators and private-sector entrepreneurs find a path to success is critical to technology leadership, job creation, and the development of emerging industries in the Commonwealth.”

The CCF program accepts applications and awards up to $75,000 in funding on a rolling basis.

Rebecca Barnabi

Rebecca J. Barnabi is the national editor of Augusta Free Press. A graduate of the University of Mary Washington, she began her journalism career at The Fredericksburg Free-Lance Star. In 2013, she was awarded first place for feature writing in the Maryland, Delaware, District of Columbia Awards Program, and was honored by the Virginia School Boards Association’s 2019 Media Honor Roll Program for her coverage of Waynesboro Schools. Her background in newspapers includes writing about features, local government, education and the arts.