CCF Funding Opportunities

VIPC is pleased to offer two grant funding opportunities through CCF in support of Virginia’s small business community and its colleges, universities, and other nonprofit research institutes. To learn more about the opportunities available to your organization, click on the button below that best aligns with the type of support you’re seeking at this time. Questions can be directed to the CCF team at ccf@VirginiaIPC.org

I am looking for grant funding to:

Private Sector Funding Opportunity

Program Overview

Who: High-potential, Virginia-based, for-profit technology companies at the proof-of-concept, product development, or other pre-seed stages of commercialization (specific eligibility criteria follows).

(If you are a researcher from an academic institution, please explore CCF’s higher ed opportunity instead.)

What: Grants up to $75,000 can support early technology and market validation efforts that include but aren’t limited to: development of prototypes or minimum viable products (MVPs), customer pilots, and intellectual property protection.

When: Applications will be accepted and reviewed on a rolling basis, and awards will be made throughout the year. The turnaround time for a typical application is approximately 90 days.

How: Confirm your eligibility and submit your application online anytime at https://vipc.fillout.com/ccf_ps_application

Document Downloads

Eligibility Requirements

Companies that meet the eligibility criteria set forth below are invited to seek CCF private sector grant funding:

➤ Be a for-profit Virginia-based company, defined as:

- Headquartered in and whose primary business address (if different than company headquarters) is located within Virginia
- Administrative and strategic operations are performed within Virginia
- Chartered in or duly registered to do business as a foreign entity in Virginia
- Virginia is the primary state of residence for 50% or more of senior management, and at least 50% of founders’ ownership is held by Virginia residents

➤ Be in good standing with the federal government and Commonwealth of Virginia, including the State Corporation Commission (SCC); a valid federal tax ID number and Virginia SCC entity ID number are required

➤ Be committed to Virginia; CCF funding is intended for companies whose founders are committed to growing their business in the Commonwealth

➤ Operate in one of the following targeted industries:

- Advanced manufacturing
- Aerospace
- Agriculture
- Autonomous systems
- Communications
- Cybersecurity and cyber-physical systems
- Energy
- Environment
- IT (includes data science and analytics)
- Life and health sciences
- Modeling and simulation
- Nuclear physics
- Transportation

➤ Received no prior CCF or CRCF award

- Companies that are affiliated with one another through majority ownership, common management, or common leadership, will be considered by VIPC as a single entity for purposes of awarding grants
- CCF funding to support accelerator participation is acceptable and not considered prior funding for this purpose

➤ Received no more than $1 million from investors; Companies that have received any funding from VIPC’s Virginia Venture Partners (VVP, formerly CIT GAP funds) are not eligible

What Else Do I Need to Know?

Matching Funds
A minimum one-to-one match is required. Matching funds are monies that will be supplied by the applicant in an amount that equals or exceeds the CCF request. Matching funds may come from federal, foundation, private, or other non-Commonwealth of Virginia sources and must support the proposed CCF project and be spent during its period of performance. At least 50% of the applicant provided match must be in the form of hard cash that is available at the time of application and will remain available for use during the project period of performance. Applicants must identify the source and uses of matching funds within their application and will be required to provide evidence of cash match expenditures. Examples of eligible and ineligible uses of matching funds can be found in the FAQs.

Project Timelines
Projects timelines are expected to be sufficient to accomplish 2-3 key milestones and typically range from 6-12 months. However, projects that are shorter or longer are acceptable.

Evaluation Criteria
An application will be evaluated on the following criteria:

Market need for the solution and whether the applicant has a clear understanding of the opportunity and competitive landscape
Technology associated with the project and whether the applicant has a clear understanding of the risk(s)
Clear technology development and commercialization milestones for the project that are associated with a realistic timeline
Clear budget with transparent and efficient use of funds related to executing the milestones and demonstration of the required one-to-one match, including cash component
Project readiness and feasibility through executed contracts/agreements, clear work plan and implementation strategy
Potential for fostering job growth and generating economic benefits for the Commonwealth
General strength of the project, team, potential impact of the requested CCF funding, and overall potential of the applicant to scale into a successful Virginia-based technology startup

Selection Process
CCF applications will be accepted on a rolling basis. Each application will be reviewed initially by VIPC for general compliance and suitability for CCF funding. Applicants selected to advance will be invited to meet with the CCF team to pitch their project, technology, and company and for Q&A. For applicants that are subsequently selected to advance, the CCF team will conduct due diligence on the applicant and the proposed project; the due diligence process may include leveraging guidance from subject matter experts (SMEs) as appropriate. Following due diligence, the CCF team will make a funding recommend to the President of VIPC, who has final approval authority. Applicants that are declined will be offered feedback and the reason(s) for the decision. The turnaround time for a typical application is 90 days.

VIPC reserves sole discretion to determine whether a particular applicant meets the definition of a “Virginia-based” company. VIPC reserves the right to provide CCF funding to companies that may not align exactly with this eligibility criteria and may provide CCF funding in excess of $75,000 to companies deemed by VIPC to have exceptional strategic value for Virginia. The CCF private sector Terms & Conditions document, available to download above, provides full guidance.

Higher Education Funding Opportunities

Program Overview

Effective September 9, 2024, VIPC is no longer accepting applications for CCF higher ed grant programs. These grant programs are being reassessed by VIPC leadership and are expected to be relaunched in late 2024 or in early 2025. Current CCF higher ed applicants may inquire about the status of their application with Jean Staley at jean.staley@virginiaipc.org.

Who:
Virginia’s public and private colleges and universities, as well as eligible nonprofit Virginia-based research institutes (specific eligibility criteria follows).

(If you are from a private sector company, please explore CCF’s private sector opportunity instead.)

What:
Grants range from up to $100,000 to $300,000 across three tiers, with each tier supporting a more advanced stage of commercialization and technology readiness level (TRL). More information about the specific tiers and stages and types of work a tier supports follows.

When:
Applications will be accepted and reviewed on a rolling basis, and awards will be made throughout the year. The turnaround time for a typical application is expected to be 90 days.

How:
All CCF Higher Education applications must be submitted online by the institution’s authorized representative, usually a grants administrator within the Office of Sponsored Programs (OSP). Effective September 9, 2024, VIPC is no longer accepting applications for CCF higher ed grant programs.

Eligibility Requirements

Applicants that meet the eligibility criteria set forth below are invited to seek CCF higher ed grant funding:

➤ Be one of the following:

- Virginia public or private institution of higher education or its associated intellectual property foundation that adopts a policy regarding the ownership, protection, assignment, and use of intellectual property pursuant to Code of Virginia, Section 23.1-1303
- Federal research facility located in Virginia
- University research consortium that includes Virginia college and university member institutions
- Other nonprofit research institution located in Virginia whose purpose includes performing basic and/or applied scientific research

➤ Proposed technology addresses one of the following targeted industries:

- Advanced manufacturing
- Aerospace
- Agriculture
- Autonomous systems
- Communications
- Cybersecurity and cyber-physical systems
- Energy
- Environment
- IT (includes data science and analytics)
- Life and health sciences
- Modeling and simulation
- Nuclear physics
- Transportation

➤ Received no more than two CCF higher ed awards for the proposed project; awards received under the Commonwealth Research Commercialization Fund (CRCF) do not count against this cap

Funding Tiers

Tier 1: Proof-of-Concept Grant
Eligible applicants are invited to seek Tier 1 funding. Tier 1 grants provide funding up to $100,000 and generally support early technology validation (TRL 2-4) and exploration of commercial potential, including in-depth customer discovery. Basic lean startup training is preferred prior the CCF project’s period of performance. Applicants are expected to have filed an invention disclosure.

Tier 2: Commercialization Grant
The opportunity to seek Tier 2 funding will be by invitation only for applicants that have successfully executed a Tier 1 grant*; at this time, however, VIPC is only offering Tier 1 funding. Subsequent award decisions will take into consideration performance on and compliance with the prior award(s) and project timelines will not overlap. Tier 2 grants provide funding up to $200,000 to support the development of a working prototype that aligns with market and/or customer needs (TRL 4-6). Lean startup or other similar training that includes in-depth customer discovery, business model validation, and team development is required before or during the CCF project’s period of performance. Applicants are expected to have filed a provisional patent(s).

Tier 3: Advanced Commercialization Grant
The opportunity to seek Tier 3 funding will be by invitation only; at this time, however, VIPC is only offering Tier 1 funding. Eligible applicants will have successfully executed a Tier 2 grant and be deemed by VIPC to have exceptional strategic value for Virginia. Subsequent award decisions will take into consideration performance on and compliance with prior award(s) and project timelines will not overlap. Tier 3 grants provide funding up to $300,000 for applicants on a high-potential commercial path with significant customer or licensee traction (TRL 5-7). Applicants are expected to have filed a PCT and/or utility patent(s).

* At the discretion of VIPC, a prospective applicant at a more advanced TRL (4-7 range) may be invited to submit an application for a Tier 2 grant without having previously applied for or received a Tier 1 grant.

What Else Do I Need to Know?

Application Submission
Applications must be submitted by an authorized representative of the applicant institution’s Office of Sponsored Programs (OSP) or equivalent authority. Prior to submission, the project team is encouraged to prepare their application’s content using a VIPC-provided CCF HE application worksheet and coordinate provision of this content and other application components with OSP.

Matching Funds
A minimum one-to-one match is required. Matching funds are monies that will be supplied by the applicant in an amount that equals or exceeds the CCF request. Matching funds may come from federal, foundation, private, or other non-Commonwealth of Virginia sources and must support the proposed CCF project and be spent during its period of performance. As it relates to Commonwealth of Virginia sources, however, the salary of a public university researcher and/or associated indirect costs, even if considered state monies, may be used as the source of matching funds. More examples of eligible and ineligible uses of matching funds can be found in the FAQs.

Project Timelines
Projects are expected to be sufficient to accomplish 2-3 key milestones and may range from 6-24 months. However, projects that are shorter or longer are acceptable.

Selection Process
CCF applications will be accepted on a rolling basis. Each application will be reviewed initially by VIPC for general compliance and suitability for CCF funding. Applicants selected to advance will be invited to meet with the CCF team to pitch their project, technology, and company and for Q&A. For applicants that are subsequently selected to advance, the CCF team will conduct due diligence on the applicant and the proposed project; the due diligence process may include leveraging guidance from subject matter experts (SMEs) as appropriate. Following due diligence, the CCF team will make a funding recommendation to the President of VIPC, who has final approval authority. Applicants that are declined will be offered feedback and the reason(s) for that decision. The turnaround time for a typical application is expected to be 45-60 days.

Evaluation Criteria
An application will be evaluated on the following criteria:

Market need for the product and whether the applicant has a clear understanding of the opportunity
Technical risk(s) associated with the project and whether the applicant has a clear understanding of the risk(s)
Clear development milestones for the project that are associated with a realistic timeline
Clear budget with transparent and efficient use of funds related to executing the milestones
General strength of the proposal and the technology’s overall potential to scale into a successful commercial product or service.

VIPC reserves sole discretion to determine whether a particular applicant meets the definition of an eligible institution and to provide CCF funding to applicants that may not align exactly with this eligibility criteria. VIPC also reserves the right to run basic credit and background checks on individuals listed in the application. The CCF higher ed Terms & Conditions document, available to download above, provides full guidance.

University Commercialization Program Support

VIPC’s Commonwealth Commercialization Fund also offers funding to Virginia’s public research colleges and universities to support their technology translation and commercialization efforts. Effective September 9, 2024, VIPC is no longer accepting applications for CCF higher ed grant programs, including the Entrepreneur-in-Residence program and the Eminent Researcher Recruitment and Retention Program. These grant programs are being reassessed by VIPC leadership and are expected to be relaunched in late 2024 or in early 2025.

Institutions interested in either the EIR and/or ERR programs should have the appropriate senior research officer, as identified in the program overviews below, direct inquiries to Joe Benevento, VIPC’s President and CEO, at joseph.benevento@virginiaipc.org.

Entrepreneur-in-Residence Program

The CCF entrepreneur-in-residence (EIR) program provides grant funding to Virginia’s public research colleges and universities to help fund one or more seasoned entrepreneurs who will work with faculty and students to explore technology commercialization opportunities, with the goal of launching technology-driven startup companies. Applications will be accepted, reviewed, and awarded on a rolling basis. VIPC generally looks to coordinate EIR funding requests with the Associate Vice President overseeing the Technology Transfer Office and technology commercialization or an equivalent authority and expects EIR funding applications to be submitted by the institution’s Office of Sponsored Programs or equivalent authority.

Eminent Researcher Recruitment and Retention Program

The CCF eminent researcher recruitment and retention (ERR) program provides grant funding to Virginia’s public research colleges and universities to support the recruitment and retention of top faculty researchers. Faculty members supported by this program should be engaged in technology research, development, and commercialization activities and the vision for the new hires or retained faculty must be for long-term, tenure-track employment. Applications will be accepted, reviewed, and awarded on a rolling basis. VIPC generally looks to coordinate ERR funding requests with the institution’s Vice President of Research and expects ERR funding applications to be submitted by the institution’s Office of Sponsored Programs or equivalent authority.