 A Charlottesville-based startup company that makes indoor, hydroponic farming systems is moving its headquarters to Richmond with plans to hire about 24 people over the next few years. Late in 2019, Babylon Micro-Farms raised $2.3 million in funding mostly from investors, but the capital raise also included a $250,000 grant from the National Science Foundation to conduct research on its systems, along with a $50,000 grant from Virginia’s Center for Innovative Technology. Northam’s office said Virginia competed with Arizona and California for the headquarters office relocation project. Babylon Micro-Farms is a CIT GAP Funds Portfolio Company and a CIT Commonwealth Research Commercialization Fund (CRCF) Awardee FY20 | The Babylon CRCF award, along with CIT GAP funding, is a prime example of how our programs work together to help sustain companies through the difficult first stages of the commercialization process. Sustainable urban agriculture technologies are among the most critical emerging technologies in the nation today, and thanks to Babylon, Virginia will play an essential role in the future of farming.  CIT is pleased to share this White Paper published by Organizing4Innovation - a Commonwealth Research Commercialization Fund Awardee (CRCF FY20)
"Law firm innovation management is becoming a must, giving the increased frequency and importance of innovation. Wondering how other law firms are managing their innovation efforts? Are you interested in reading about the best-practices law firms of all sizes use? Then download our white paper titled "Innovation Management in Law Firms" https://www.organizing4innovation.com/law-firm-innovation-management/ *Please Note: CRCF to CCF - The Commonwealth Commercialization Fund, or CCF, was launched on July 1, 2020, to foster innovative and collaborative efforts in Virginia. Combining two legacy state programs, the Commonwealth Research Commercialization Fund (CRCF) and the Virginia Research Innovation Fund (VRIF), CCF seeks technologies with a high potential for economic development and job creation and that position the Commonwealth as a national leader in science- and technology-based research, development, and commercialization. As the administrator of the CCF, CIT supports CRCF and VRIF award recipients. #CITCRCF #CITCCF #Innovation #Commercialization #Research #Virginia  RICHMOND--Governor Ralph Northam today announced that Babylon Micro-Farms, a Virginia-based company that develops and produces remotely controlled, indoor hydroponic systems for growing fresh herbs, vegetables, and salad greens, will invest $140,000 to expand operations and relocate to the City of Richmond. Babylon’s new location in Scott’s Addition will enable the company to expand its capabilities in manufacturing, software development, and research and development so it can begin distributing nationally and internationally. Virginia successfully competed with Arizona and California for the project, which will create 24 new jobs. “We are thrilled to celebrate the growth of innovative Virginia businesses like Babylon Micro-Farms,” said Governor Northam. “The company’s dynamic, high-tech systems are helping to address food insecurity during the pandemic and getting fresh, local produce into the hands of more people. This expansion demonstrates the success that entrepreneurs can find in our Commonwealth, while also maintaining a strong commitment to environmental sustainability.” Babylon Micro-Farms is a CIT GAP Funds Portfolio Company and a CIT Commonwealth Research Commercialization Fund (CRCF) Awardee FY20 | The Babylon CRCF award, along with CIT GAP funding, is a prime example of how our programs work together to help sustain companies through the difficult first stages of the commercialization process. Sustainable urban agriculture technologies are among the most critical emerging technologies in the nation today, and thanks to Babylon, Virginia will play an essential role in the future of farming.  "Richmond is home to a host of business incubators, nonprofits and educational initiatives that foster innovation and creativity; we look at what they do, the projects they support and what’s on the horizon..." “CIT is focused on the growth of innovation and entrepreneurship in all sectors of Virginia, or all regions,” says Bob Stolle, president and CEO of CIT. “We have a variety of programs that provide direct investment into early-stage companies and seed-stage investment for equity positions in early-stage startups.”  Cville-based AgroSpheres, Inc. has been named a “top 20 innovative company to watch” for 2020 by Business Worldwide magazine & featured in their latest issue! Check out pp. 40-43 to learn more about what this 3x CRCF awardee is developing: NOVI’s reconfigurable satellites enable significant reductions in capital cost for constellation deployment  Richmond, VA, Sept. 22, 2020 (GLOBE NEWSWIRE) -- The Center for Innovative Technology (CIT) today announced that CIT GAP Funds has made a follow-on investment in Arlington, Va.-based NOVI, developer of the next generation of hardware and data analytics platforms for the new space, infrastructure and manufacturing verticals. Since CIT’s initial investment in early 2019, the company has accelerated strategic outreach and development on its first commercial technology. The additional capital from GAP Funds will be used to accelerate their commercial go‐to‐market strategy and support key hires. Note: Novi is a 2019 CIT Commonwealth Research Commercialization Fund (CRCF) award recipient.
Startup is developing targeted solutions for targeted diseases to address antibiotic resistance, one of today’s biggest threats to global health  “Techulon is advancing a new generation of therapeutics with broad application based on technology that is highly selective of disease targets. This results in more effective drugs that exhibit fewer side effects to patients,” said Tom Weithman, Managing Director of CIT GAP Funds and Virginia Founders Fund. “The startup has already demonstrated the benefits of this targeted approach and is working towards human proof-of-concept studies and translating these findings into clinical applications. We look forward to being part of Techulon’s success.”  “These award recipients are advancing a number of new technologies, such as therapeutics, including those for infectious disease; unmanned systems for agriculture, utilities and smart buildings; and increased cybersecurity for the healthcare industry,” Albrigo said.  Small technology-based businesses to receive funds for projects in clean energy, cybersecurity, data analytics, life sciences, and unmanned systems  Press release & list of award recipients here | https://www.governor.virginia.gov/newsroom/all-releases/2020/june/headline-858245-en.html RICHMOND—Governor Ralph Northam today announced 26 small technology-based businesses and four universities will receive incentive grants to commercialize their research in clean energy, cybersecurity, data analytics, life sciences, and unmanned systems. The new Commonwealth Research Commercialization Fund (CRCF) grants award $2.48 million in funding and leverage more than $13 million in matching investments to drive progress in emerging technologies.
“These entrepreneurs and innovators are on the front lines of bringing new products and technologies to market, while driving job creation and supporting Virginia’s economic recovery efforts,” said Governor Northam. “I am pleased that the Commonwealth is able to support these growing companies as they develop high-potential solutions in emerging industries and build businesses from research started right here in Virginia.” Administered by Virginia’s Center for Innovative Technology (CIT), CRCF invests in priority research and commercialization activities through the private sector, academia, and nonprofit research institutes. The fund accelerates innovation and economic growth in Virginia by advancing solutions to important state, national, and international challenges through technology research, development, and commercialization. Since it began in 2011, CRCF has awarded more than $30 million to help launch nearly 380 early-stage technology projects in strategically important industries.  RVA's best startups, innovators and stakeholders of 2020 While we’re only halfway through 2020, the tech and innovation ecosystem has provided no shortage of startups and entrepreneurs deserving of Richmond Inno’s highest accolade.  Seed funding sources for Embody included both CIT GAP Funds & Commonwealth Research Commercialization Fund (CRCF)  "Designed and manufactured on the Eastern Shore of Virginia, Mobile Sentinel is a commercialized version of an earlier technology, originally developed for NASA and still in use. With a grant from the Center for Innovative Technology (CIT), Commonwealth Research Commercialization Fund (CRCF) in 2019, SRS developed this new system. SRS looks to grow its market share in the autonomous security industry while creating valuable career opportunities required for rapid production/distribution."  Proceeds to Fund Advancement of Programs Addressing Acute Lung Injury Due to COVID-19 and Severe Birth Asphyxia (HIE)
April 21, 2020 08:30 AM Eastern Daylight Time NORFOLK, Va.--(BUSINESS WIRE)--ReAlta Life Sciences, Inc., today announced that it has successfully closed an oversubscribed Series A2 financing of $14 million, bringing the total Series A financing to $26 million. The financings were led by Children’s Research Holdings and Marathon Pharma, as well as additional undisclosed investors. ReAlta Life Sciences is a biotech company dedicated to harnessing the power of the immune system through its PIC1 technology platform to address life-threatening medical needs. https://www.businesswire.com/news/home/20200421005101/en/ReAlta-Life-Sciences-Closes-14-Million-Series  DAILY PROGRESS PHOTO/ANDREW SHURTLEFF Dr. Casey Kerrigan, founder of Oesh shoes, has developed a flexible 3D printed respirator mask that can be re-used indefinitely with different filter material. Oesh is working with neighboring company Luna to begin production and start manufacturing face masks in multiple sizes first for area EMS first responders. Once that need is met, they will move on to meeting the needs of other health care workers in the Charlottesville/Albemarle region.
 A Charlottesville shoe-making company is switching its focus from feet to the face in the wake of the COVID-19 pandemic. Owners of OESH Shoes - (CIT CRCF Award Recipient) - are taking their expertise in 3-D printing & using them to print durable, reusable respirator face masks for emergency responders.
Story and video here: https://www.nbc29.com/2020/04/01/charlottesville-shoe-company-uses-d-printers-develop-respirator-masks-first-responders/  CRCF FY19 Award Recipient, JKM Technologies, Featured on NPR Segment
This fall, NPR's "How I Built This with Guy Raz" featured CRCF FY19 awardee, Dr. Casey Kerrigan, and her unique approach to making shoes using 3D printing.
Congratulations Elaine Horn-Ranney on the long-awaited docu-series about your research project aboard the International Space Station! It was filmed by NASA over the course of two years and highlights Tympanogen work and the work of other investigators.
Tympanogen | CRCF award recipient | CIT GAP Virginia Founders Fund (VFF) Portfolio Company | Based in Richmond, Virginia |
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Updated 2/26/2021