Virginia Research Investment Fund Round 4 Call for Proposals Comprehensive Supportive Services for Proof of Concept and Commercialization
Overview: In 2017, SCHEV, on behalf of VRIC, launched a comprehensive study to assess the Commonwealth’s research assets, including those at its public universities, federal research facilities and private-sector companies. SCHEV retained TEConomy Partners, LLC, to conduct the study, which was completed in January 2018. A final report and three detailed analyses are available on the right side bar here.
The TEConomy study recommended a high-value approach to proof-of-concept funding across universities that offers hands-on mentoring and engagement with venture capital investors.
The winning grantee(s) will provide direct assistance to university-based innovators and entrepreneurs to support proof-of-concept and commercialization of technology by offering a range of services that drive innovation-based, high-growth entrepreneurship and startup acceleration, such as technology advisement, market evaluation, business planning, mentoring and access to early-stage capital.
As with all programs funded by the Virginia Research Investment Fund (VRIF), the ultimate objective is job creation through commercializing the products of university research via licensing technology to start-up or existing companies located in Virginia.
Round 4 Focus: Proposals will be accepted to create a disciplined process to streamline commercialization of the products of university research for each strategic growth opportunity area through re-granting or mini-grants to teams of researchers for proof of concept (POC) experiments and the provision of mentoring and other support to those research teams before, during and after the POC grants.
The strategic growth opportunity areas are: Big data, leveraging fiber and data center assets; cybersecurity; unmanned systems; space and satellite systems; and life sciences.
Eligible Applicants: Eligible lead applicants are public institutions of higher education in Virginia. While one institution must be named as the lead and fiscal agent, VRIC expects that two institutions will co-lead the administration of the proposed program. Further, VRIC expects that any proposal related to the cybersecurity strategic growth opportunity area will be submitted collectively by the Commonwealth Cyber Initiative Leadership Council.
Proposals Due: January 13, 2020
Estimated Start Date: June 1, 2020
Length of Award: Three years, with an option to renew for a 4th and 5th year if funds are available and promised performance metrics are achieved.
Award Amount: No minimum nor maximum award amount exists for Round 4.
Match: A 1:1 match is required.
Number of Grants: Up to five grants may be awarded (no more than one grant will be awarded for each strategic domain area; VRIC may opt to award no grants for a strategic domain area)
Round 4 Frequently Asked Questions
Associate for Research Investment
State Council of Higher Education for Virginia