Commonwealth Research Commercialization Fund (CRCF)

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1 Commonwealth Research Commercialization Fund (CRCF) FY2018 Solicitation Webinar: Solicitation Overview and Completing the LOI Presented by CIT R&D October 17,

2 CRCF Overview Driving economic growth in the Commonwealth by investing in technology commercialization ~$22.5 million awarded FY Targets opportunities across all regions of Virginia Supports Virginia s private sector and university and other research institutions LOI and application submission are completely and solely online 2

3 FY2018 Solicitation $2.5 million available in FY2018 Programs o Private sector Commercialization SBIR Matching Funds STTR Matching Funds o Academia, federal research facilities, university research consortia, and other nonprofit research institutions Matching Funds Eminent Researcher Recruitment Single solicitation o Limited submission 3

4 Solicitation Schedule KEY DATES October 5, 2017 November 9, 2017 January 16, 2018 November 28, 2017 January 31, 2018 Early June 2018 ACTIVITY RFP issued Private Sector Letter of Intent (LOI) Deadline Application Deadline Higher Ed, Research Institutes Letter of Intent (LOI) Deadline Application Deadline Award announcements (All) 4

5 Eligible Industry Sectors Biosciences / MedTech Cyber Security Energy, specifically clean energy Environment, specifically water quality Information Technology, specifically data analytics Unmanned Systems 5

6 Is CRCF a Fit? Clear idea of an unmet need or opportunity Specific technology development project Vision and path to commercialization of my technology Thought through and realistic picture of the CRCF project and commercialization strategy Potential impact on Virginia and how Virginia will benefit 6

7 CRCF Programs and the Innovation Continuum Pre-Company Post-Company Formation Research Proof-of-Concept or Invention Early Stage Development. Product Development Production Grant CRCF Matching Funds Program CRCF Eminent Researcher Recruitment Program CRCF Commercialization Program CRCF SBIR/STTR Matching Funds Programs 7

8 Private Sector Programs 3 programs available to for-profit technology companies in Virginia Commercialization SBIR Matching Funds STTR Matching Funds Programs $50,000 award cap per project One (1) submission per company Received no more than two (2) prior CRCF awards 8

9 Commercialization Program* Program: Proof-of-concept or prototype projects with the intent to validate a high-potential technology and enable commercialization Up to $50k per project Eligibility: Virginia is principle place of business for the company and its senior executives Company may have received: Up to 8 SBIR or STTR awards Up to $5 million total in combined outside private investment and sales revenue since January 1, 2013 * See Program Guidelines for complete details 9

10 SBIR and STTR Matching Funds Programs* Program: Accelerates commercialization of high-potential SBIR/STTR-supported technologies Up to $50k per project Eligibility: Virginia-based technology companies Received SBIR / STTR Phase I or II award* At least 51% of employees reside in Virginia At least 51% of property located in Virginia Employ fewer than 12 full-time employees * See Program Guidelines for complete details 10

11 Matching Funds Program* Program: Leverages non-cov commercialization funding for technologies with high potential for commercialization Vision for commercialization Proof-of-concept projects or earlier Up to $100k per project Eligibility: Higher ed, federal research facilities and nonprofit research institutes in Virginia University research consortia with Virginia college and university members * See Program Guidelines for complete details 11

12 Eminent Researcher Recruitment Program* Program: Supports faculty recruitment to enhance or acquire research superiority. Private sector partner with business operations in Virginia Up to $250k per project Eligibility: Virginia public institutions of higher ed or associated IP foundation * See Program Guidelines for complete details 12

13 Examples of Matching Funds Federal, private, or other non-cov funds that: o o Support the same work proposed in the CRCF application Align with the period of performance proposed in the CRCF application Matching funds must be specific to the CRCF project and available during the CRCF project, and could include: o o o o o Salaries / fringe benefits of team members Materials, supplies, and/or equipment Travel Partner / subcontractor work Waived indirects Matching funds may not be: CIT GAP Funds, state contracts or grants, funds expended prior to or after the CRCF PoP 13

14 Letters of Intent (LOIs) Required Online submission Accepted between October 5 and November 9, 2017 at noon or November 28, 2017 at noon. Allow CIT to confirm CRCF eligibility and assist in gauging proposal activity and in identifying reviewers 14

15 LOI Fields All programs: CRCF program Organization type Project title Primary industry sector Project description LOI certification PI name, contact information Organization location, tax ID number, website SBIR / STTR Matching Funds Program only: SBIR / STTR award number Phase I / Phase II Federal agency 15

16 Sample LOI * Required field This is an example of the LOI s format and questions. The sample is also available for download from 16

17 LOI Submission LOI submission: o Complete questionnaire o Click Submit o Confirmation of submission appears on your screen o Automatic confirms receipt by CIT CIT reviews LOI and responds to applicants o 5 business day turnaround o If requirements are met, CIT provides instructions on accessing and completing a program application A unique CIT reference number (example: CP CS) is prepopulated into online applications; this number should be used as the naming convention for uploaded documents and provided where requested. 17

18 Resources FY2018 solicitation: Application materials (Guidelines, templates) FAQs Webinars o o o Completing the LOI The Application Process Completing the Budget Upcoming Regional Events Sample materials (application, budget) 18

19 Questions? Contact the CRCF team at: Join our listserv: 19

20 Next Steps Office of Sponsored Programs o Higher ed only Letter of Intent o Comm/SBIR/STTR: Due noon Thursday, November 9 o MF/ERR: Due noon Tuesday, November 28. CRCF resources 20

21 Q&A 21

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