Commercialization Program

UPCOMING WEBINAR! Join us Tuesday, October 17 at 10:00 a.m. for a webinar discussing the LOI process. Click here for details and registration information.

The CRCF Commercialization Program assists for-profit technology companies in Virginia commercialize high-potential qualified technologies, products, or services that have a reasonable probability of enhancing the Commonwealth's national and global competitiveness. Projects must be for proof-of-concept or prototype development work with the intent to enable commercialization, be based upon sound scientific principles, and offer significant potential for commercialization and economic benefits that accrue in the Commonwealth.

The CRCF programs support commercialization goals through technology development in Virginia. CRCF monies additionally may be used for market validation, intellectual property protection, and other activities directly tied to the project.

Organizations may submit one (1) LOI / application for up to $50,000 and receive one (1) award under the Commercialization, SBIR Matching Funds, or STTR Matching Funds Programs. Companies that are affiliated through ownership, common management or leadership, and/or other control are considered under the same umbrella and may participate through one (1) total submission this round.

Refer to the Program Guidelines for complete eligibility criteria and program information.

All materials for this program, including the Guidelines, templates, and sample documents, 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 be for-profit businesses with Virginia as the principal place of business for the firm and its senior executives
  • May have received no more than two (2) prior CRCF awards
  • May have received up to eight (8) federal SBIR or STTR awards, combined
  • May have received up to $5 million in combined outside private investment (not including funds from family, friends, founders) and cumulative sales revenue since January 1, 2013

Applying for CRCF Funding

Applicants seeking funding under the Commercialization Program must submit an online Letter of Intent (LOI) by 12:00 p.m. (noon) on Thursday, November 9, 2017; LOIs are not accepted after the deadline. An automatically-generated email will be 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.

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Questions? Contact crcf@cit.org.