Herndon, VA (PRWEB) July 11, 2012
The Center for Innovative Technology (CIT) today announced 22 awards totaling $3.1 million for the second round of the FY2012 Commonwealth Research Commercialization Fund (CRCF). The awards were made to 20 organizations from academia, the research community and industry across Virginia for the purpose of funding targeted areas of research with commercial promise aligned with the Commonwealth Research and Technology (R&T) Strategic Roadmap.
The second round of the CRCF solicitation brought in 90 eligible proposals, totaling nearly $14.6 million, and spanning a spectrum of industries identified in the Roadmap as priority areas for Commonwealth investment. Awarded projects represent the areas of advanced manufacturing, aerospace, communications, cyber security, energy, environment, information technology, life sciences and modeling and simulation.
Pete Jobse, CIT President and CEO, said, “This second round of awards only reinforces what we are seeing in the marketplace: innovation is strong in Virginia, and investing in these ideas will help the Commonwealth strengthen its economic base in an increasingly competitive global economy.”
The following CRCF proposals will be awarded, contingent upon acceptance of award terms and conditions:
Eminent Researcher Recruitment Program
Matching Funds Program
SBIR Matching Funds Program
This list can also be accessed at http://www.cit.org/programs/cit-rd/crcf/2012solicitation/awards.
“CIT was delighted to receive nearly 100 eligible proposals this round. The proposals that were awarded continue to support goals and industry opportunities identified in the Commonwealth Research and Technology Strategic Roadmap and were reviewed using the multi-step assessment process developed in the fall,” said Nancy Vorona, CIT VP Research Investment.
The multi-step process consisted of four layers of review beginning with CIT for guideline compliance. Acceptable submissions were then subject to an external review by subject matter experts from industry, academia and government. Those proposals advancing from the expert review were ranked and selected by the Research and Technology Investment Advisory Committee (RTIAC). The RTIAC made recommendations to the Innovation and Entrepreneurship Investment Authority (IEIA), which approved the final awards.
Award recipients will be contacted over the next two weeks to review award terms and conditions. CIT staff will be available to discuss the selection process beginning July 18, 2012.
CIT will publish information on the next CRCF solicitation as it becomes available through distribution resources including webinars, newsletters, press releases, Federal Funding Assistance Program (FFAP) events and on the CIT website at: http://www.cit.org/programs/cit-rd/crcf.
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 new CRCF awards.
In FY2012, the General Assembly approved $6 million for the CRCF; five programs were eligible for funding in FY2012: Commercialization, Facility Enhancement Loans, Eminent Researcher Recruitment and Matching Funds.
The reforms and funding were part of the McDonnell Administration’s economic development package and spearheaded in the 2011 Virginia General Assembly session by Delegates Scott Lingamfelter and Joe May, and Senators Mark Herring and Stephen Newman. Virginia’s Lieutenant Governor Bill Bolling, Secretary of Technology Jim Duffey, the Northern Virginia Technology Council (NVTC) and other technology councils, the Virginia Biotechnology Association (VABio) and universities and colleges were instrumental in the passage of new legislation and funding, as well as the development of the Roadmap.
As part of the CRCF funding package, the General Assembly created the Research and Technology Investment Advisory Committee (RTIAC), comprised of university, industry and economic development experts, to review applications and make award recommendations to the Innovation and Entrepreneurship Investment Authority (IEIA).
About the Center for Innovative Technology, http://www.cit.org
CIT is the state-chartered nonprofit corporation that conducts the business of the IEIA and accelerates innovation and the next generation of technology and technology companies. CIT creates new technology companies through 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 startup companies and advanced technology consumers. Its CAGE code is 1UP71.