CIT CRCF Matching Funds Proposal Submitted

Today, SRT submitted a proposal to the Commonwealth Research Commercialization Fund (CRCF) sponsored by Virginia’s Center for Innovative Technology (CIT). Our proposal, entitled “SRT’s Map-based Facility Management System for Robots and Smart Devices” requests matching funds to extend the development work supported by SRT’s existing National Science Foundation (NSF) Phase I grant. This CRCF funding would allow SRT to expand the number of hardware devices that can be integrated into our M1 software, through building new hardware partnerships and funding developer time to complete the software integration.

Center for Innovative Technology (CIT): The Center for Innovative Technology (CIT) creates technology-based economic development strategies to accelerate innovation, imagination and the next generation of technology and technology companies. Created in 1985, CIT, a non-profit corporation, plugs gaps at the earliest stages of the Innovation Continuum commercialization and seed funding as it helps entrepreneurs launch and grow high-growth technology companies and create high-paying jobs for the future. To facilitate national innovation leadership and accelerate the rate of technology adoption, CIT creates partnerships between innovative technology start-up companies and advanced technology consumers. Lastly, CIT builds the infrastructure for new innovation economies with expert broadband strategies.

Commonwealth Research Commercialization Fund (CRCF): 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. Proposals submitted to CRCF undergo a multi-stage review process. The process includes assessment by subject matter experts (SMEs), followed by evaluation and award recommendations made by the Research and Technology Investment Advisory Committee (RTIAC) to the CIT Board of Directors. The review process culminates with award decisions made by the Board. CRCF awards contribute to the Commonwealth’s overall plan to enhance economic development through technology research and commercialization and, as such, CRCF awards must further the goals set forth in the Commonwealth Research and Technology Strategic Roadmap. In addition to identifying research areas worthy of economic development and institutional focus, the Roadmap provides a framework for aligning key industry sectors within the state. Since its inception in FY2012, CRCF has announced more than 300 awards totaling more than $25 million. View the growing list of recipients, including our FY2018 awardees.