The Center for Innovative Technology (CIT) announced today the release of the Commonwealth Research Commercialization Fund (CRCF) annual report for FY2015, which tracks investments in high-potential technology development and commercialization initiatives throughout Virginia.
In FY2015, CIT announced 38 grants to startups, universities and research institutes engaged in research and development projects totaling $2.8 million in key sectors such as life sciences, cyber security, advanced manufacturing and energy. This investment was leveraged to secure an additional $5.6 million from private sector and university matching funds.