Commercialization Program

The CRCF Commercialization Program assists for-profit technology companies in Virginia in commercializing qualified technologies, products, or services that have a reasonable probability of enhancing the Commonwealth's national and global competitiveness. Applications must be for a proof-of-concept project, with the intent to validate the technology and enable commercialization. Projects are expected to focus on technology development, although the project may include market research and/or other technology validation. Each application may seek and be funded up to $50,000.

Organizations may submit up to two (2) LOIs / applications and receive up to two (2) awards during this solicitation in any combination under the Commercialization and SBIR and STTR Matching Funds Programs.

Refer to the Program Guidelines for complete eligibility criteria and program information. All materials for this program can be accessed through the Documents window on the right-hand side of the screen; click "View More Documents" to see all materials available.

Qualified Applicants

Applicants for the Commercialization Program:

  • Must have Virginia as the principal place of business for the firm and its CEO
  • May have received up to ten (10) federal SBIR or STTR awards
  • May have received up to $2 million in outside private investment (not including funds from family, friends, and/or founders) and had cumulative sales revenue of no more than $3 million since January 1, 2012

Applying for CRCF Funding

Applicants seeking funding under the Commercialization Program must have submitted an online Letter of Intent (LOI) by 5:00 p.m. on Thursday, November 10, 2016; LOIs are not accepted after the deadline. An automatically-generated email was sent to the applicant upon LOI submission confirming receipt. Once the LOI has been reviewed and approved by CRCF staff, applicants will receive directions via email on accessing and completing the application.

 

Questions? Contact crcf@cit.org.