VIPC Awards Commonwealth Commercialization Fund Grant to ​​Virginia Tech

CCF grants support startups, critical early technology testing and market validation efforts

RICHMOND, VIRGINIA, UNITED STATES, June 26, 2023/EINPresswire.com/ -- The Virginia Innovation Partnership Corporation (VIPC) today announced that Virginia Polytechnic Institute and State University (Virginia Tech) has been awarded a Commonwealth Commercialization Fund (CCF) grant for $75,000 in support of a commercialization project being conducted by Dr. Guo-Quan “G.Q.” Lu. VIPC’s CCF programs have distributed more than $49 million to Virginia-based startups, entrepreneurs and university-based inventors since 2012.

Virginia Tech is a public research university based in Blacksburg, Va. Dr. Lu is a Professor in Virginia Tech’s Department of Materials Science and Engineering and its Bradley Department of Electrical and Computer Engineering. His research and lab are focused on the synthesis and processing of nanomaterials for electronic applications, as well as electronic packaging of microelectronics and power electronics. This CCF grant will be used to develop and commercialize a manufacturing technology for silicon carbide semiconductor modules, reducing the complexity and cost of power converters that connect renewable energy sources to the electric grid.

“We are thrilled to receive a CCF grant from VIPC,” said Dr. Lu. “My research team at Virginia Tech is proud to help reduce the complexity and cost of power converters, and we thank VIPC for assisting us in our efforts to make renewable energy more widespread.”

“We are pleased to award a CCF grant to Virginia Tech in support of Dr. Lu’s commercialization-focused research,” said Hina Mehta, VIPC’s Director for University Programs. “VIPC’s CCF higher education grant program plays an important role in getting funding to entrepreneurially-minded university researchers, as they work to take innovations from lab to market. We are proud to support Dr. Lu’s research, as it will greatly benefit our environment and renewable energy sources.”

CCF accepts applications and awards funding on a rolling basis to Virginia’s small businesses and university-based innovators. The CCF higher education grant program seeks to fund high-potential Virginia-based academic research teams that are developing technologies with strong commercial potential. The grants support early technology and market validation efforts such as customer discovery, market research, business model validation, development of prototypes or a minimum viable product (MVP), customer pilots, intellectual property protection, team development, and more. For more information on funding opportunities and eligibility requirements, or to apply, visit the CCF pages at www.VirginiaIPC.org.

About the Commonwealth Commercialization Fund (CCF)
VIPC’s Commonwealth Commercialization Fund (CCF) was launched on July 1, 2020 to foster innovative and collaborative efforts in Virginia. Combining two legacy state programs, the Commonwealth Research Commercialization Fund (CRCF) and the Virginia Research Innovation Fund (VRIF), CCF seeks technologies with a high potential for economic development and job creation and that position the Commonwealth as a national leader in science- and technology-based research, development, and commercialization.

About Virginia Innovation Partnership Corporation (VIPC)
VIPC: Connecting innovators with opportunities. As the nonprofit operations arm of the Virginia Innovation Partnership Authority (VIPA), VIPC is the commercialization and seed stage economic development driver in the Commonwealth that leads funding, infrastructure, and policy initiatives to support Virginia's innovators, entrepreneurs, startups, and market development strategies. VIPC collaborates with local, regional, state, and federal partners to support the expansion and diversification of Virginia’s economy.

Programs include: Virginia Venture Partners (VVP) | VVP Fund of Funds (SSBCI) | Virginia Founders Fund (VFF) |Commonwealth Commercialization Fund (CCF) | Petersburg Founders Fund (PFF) | Smart Communities | The Virginia Smart Community Testbed | The Virginia Unmanned Systems Center | Virginia Advanced Air Mobility Alliance (VAAMA) | The Public Safety Innovation Center |Entrepreneurial Ecosystems | Regional Innovation Fund (RIF) | Federal Funding Assistance Program (FFAP) for SBIR & STTR | University Partnerships | Startup Company Mentoring & Engagement. For more information, please visit www.VirginiaIPC.org. Follow VIPC on Facebook, Twitter, and LinkedIn.

Angela Costello, Vice President of Communications
Virginia Innovation Partnership Corporation (VIPC)
angela.costello@VirginiaIPC.org
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