CIT Commonwealth Research Commercialization Fund
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. CIT, a non-profit corporation, helps entrepreneurs launch and grow high-growth technology companies and create high-paying jobs for the future. Among other roles, CIT’s research and development (R&D) service line manages the Commonwealth Research Commercialization Fund (CRCF), a multi-million dollar technology commercialization program that drives economic growth in Virginia.
In June 2015, CCALS received a $99,988 CRCF grant for its project, Aviation Drop-In Biofuels: Sustainable Supply Chain in Virginia in support of Farm-to-Fly 2.0 and State Agriculture/Economic Objectives. This CRCF project assembled technologies, including feedstocks, fuel readiness, and supply chains, in support of the Farm-to-Fly 2.0 (F2F2) program of USDA/DOT/FAA/DoD to commercialize drop-in aviation biofuels in the Commonwealth of Virginia. The project provided Virginia public and private investors a technology and business base for making investment decisions across multiple fuel pathways including landfills, animal farms, polluting effluents that affect the Chesapeake Bay, and seed crops including tobacco, and cellulosic crops.
CRCF awards, including CCALS’ biofuels project, 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, as prioritized by the research community, which includes but is not limited to the private sector, academia, and economic development professionals.
photo courtesy of CIT