SRT Selected for CIT CRCF Matching Funds Grant

We are excited to announce that SRT has won a $50k grant from Virginia’s Center for Innovative Technology! The Center for Innovative Technology (CIT) sponsors the Commonwealth Research Commercialization Fund (CRCF), which funds small businesses in the Commonwealth of Virginia to develop new and promising technologies in preparation for commercialization.> SRT’s project entitled “SRT’s Map-Building Robot for Creating Visual Facility Maps” was awarded $50k through the Commercialization Program. This project will transition SRT’s map building robot, which is used to build a central facility map for each of SRT’s clients where they can monitor robots and connected devices in their building, into a stand-alone product. This new product will not only be used to build physical floorplans for clients, but will also be loaded with sensors to collect data at physical locations across the facility, allowing for sensor-based heatmaps to be overlaid on the physical map of the facility. SRT has found a market for both physical floor maps for clients, as well as the added value of the data collected from onboard sensors during map construction. We can’t wait to get started on the project! Check out the CIT official press release HERE.

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.