VIPC Awards Commonwealth Commercialization Fund Grant to ​​JMU for Expansion of Commercialization Infrastructure

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

RICHMOND, VIRGINIA, UNITED STATES, September 6, 2023/EINPresswire.com/ -- The Virginia Innovation Partnership Corporation (VIPC) today announced that James Madison University (JMU) has been awarded a Commonwealth Commercialization Fund (CCF) grant for $40,000. VIPC’s CCF programs have distributed more than $52 million to Virginia-based startups, entrepreneurs and university-based inventors since 2012.

JMU is a public research university based in Harrisonburg, Va. This CCF grant will assist JMU with expanding its commercialization infrastructure to support an experienced startup advisor to advance three technologies towards market readiness and to engage a well-known tech transfer consulting firm for commercial assessment, marketing assistance, and industry collaborations.

“We are thrilled to receive a CCF grant from VIPC,” said Mary Lou Bourne, Director of Technology Innovation and Economic Development at JMU. “As JMU continues to grow its research base, we will leverage VIPC’s funding to expand our support for faculty-led commercialization efforts.”

“We are pleased to award a CCF grant to JMU,” said Hina Mehta, VIPC’s Director for University Programs. “JMU’s technology commercialization team is committed to pairing up innovative academic researchers with seasoned entrepreneurs as they work together to bring new technologies to market.”

About the Commonwealth Commercialization Fund (CCF)
VIPC’s Commonwealth Commercialization Fund (CCF) awards grant funding on a rolling basis to Virginia’s small businesses and university-based innovators. The CCF Entrepreneur in Residence (EIR) grant program specifically supports Virginia’s public research universities as they establish or expand their technology commercialization support programs. Research universities are often challenged to bring their faculty's research innovations to the commercial market, either through licensing or commercial spinouts. Well-conceived EIR programs at universities have been shown to increase the likelihood and success rate of faculty-supported commercial spinouts. For more information on funding opportunities and eligibility requirements, or to apply, visit the CCF pages at www.VirginiaIPC.org.

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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