The goal of the CRCF SBIR/STTR Matching Funds Program is to increase economic and technological development in Virginia through technology research, development, and product commercialization. The CRCF administers Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) Matching Funds Program awards to Virginia based small businesses who have received SBIR/STTR Phase I or Phase II federal awards. This Matching Fund award is intended to be used for further commercialization activities in addition to those proposed in the project. This can include market research and technology validation. The fields included in this program include cybersecurity, clean energy, biosciences/medical technology, water quality, unmanned systems, and data analytics.
To be eligible for the CRCF SBIR/STTR Matching Funds Program, you must be a Virginia based small business in one of the approved technology industries who has been awarded an SBIR/STTR federal grant in the form of a Phase I or Phase II award. Phase I applicants may not receive this award if they have received more than 5 SBIR/STTR grants and Phase II applicants may not receive this grant if they have rece3ived more than 8 SBIR/STTR awards. At least 51% of the employees must be Virginia residents, and the business must employ 12 or fewer employees. The business must be located and registered in Virginia.
Up to $50,000 in Matching Funds is available for eligible awardees through the CRCF SBIR/STTR Matching Funds Program. For eligibility information or to learn more about this program, please visit the website.
The Commonwealth Research Commercialization Fund (CRCF) accelerates innovation and economic growth in Virginia by advancing solutions to important state, national, and international problems through technology research, development, and commercialization. CRCF FY2020 Solicitation Announcement Decisions regarding Letters of Intent (LOIs) were issued on Friday, December 13.
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