Commonwealth Research Commercialization Fund (CRCF)

The CRCF Winter 2012 Solicitation is closed and proposals are undergoing evaluation. Awards for this solicitation will be announced in mid-June.

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. In support of these goals, Governor McDonnell and the General Assembly appropriated $6 million to the Fund for FY2012. Of this, $2 million was designated specifically for a Small Business Innovation Research (SBIR) matching program for Virginia-based NIH Phase I award winners in qualified research or technologies.

Awards for the CRCF Fall 2011 Solicitation were announced in December 2011; 29 awards were made. For more information on award recipients, please see the award announcement or visit our press release. The Winter 2012 Solicitation is the second of two solicitations for the FY2012 CRCF, with $2.2 million available for award. Of this, $1 milion is designated for the SBIR Matching Funds Program based on the FY2012 appropriation; the Commercialization, Eminent Researcher Recruitment, Facilities Enhancement Loan, and Matching Funds Programs will draw from the $1.2 million If program-specific funds are unspent at fiscal year-end, it is anticipated that monies will be reallocated to other programs.

The FY2012 CRCF Programs include:

• Commercialization Program to incentivize the commercialization in Virginia of a product or service related to a qualifying technology
• Eminent Researcher Recruitment Program to acquire and enhance research superiority at qualifying Virginia public institutions
• Facilities Enhancement Loan Program for qualifying public and private institutions of higher education and political subdivisions in Virginia to assist in financing facilities utilized for commercializing qualified research or technologies
• Matching Funds Program to assist qualifying public and private institutions of higher education and other research institutions in Virginia in leveraging federal and private funds designed for the commercialization of qualified research or technologies
• SBIR Matching Funds Program for Virginia-based technology businesses who have received an SBIR Phase I award from the National Institutes of Health (NIH) only

CRCF awards contribute to the Commonwealth's overall plan to enhance economic development through technology research and commercialization. As such, CRCF awards must further the goals set forth in the Commonwealth Research and Technology (R&T) Strategic Roadmap and align with industry opportunities identified therein.

CRCF reports are available on Virginia's Legislative Information System (LIS)'s website. View the 2011 CRCF Annual Report.