Important CIT Deadline for NICH SBIR Grantees

Posted on 10.12.11

October 31 is the deadline for up to $50,000 in the SBIR matching grant program.  This matching grant program recently passed in the last General Assembly and is capped statewide at $2 million.  It is administered by CIT through the Commonwealth Research and Commercialization Fund, which just released details for applying for this matching grant.

Criteria:

  • Recipient of NIH Phase I SBIR award (STTR’s NOT Eligible)
  • Virginia-based technology company with fewer than 12 full-time employees
  • At least 51% of employees reside in Virginia
  • At least 51% of property is located in Virginia
  • Must submit a commercialization plan with application
  • Awards limited to $50,000 match
  • An internal and external vetting process will take place. External review committee will make award recommendations to the Innovation and Entrepreneurship Investment Authority.
  • Awards in first round are expected to be made in December 2011
  • Other criteria – Project must be active;  Companies newer to SBIR program preferred;  Max of two applications per company, per solicitation;  One application per project;  One award per project;   Two FY2012 awards maximum, $50,000 each, per company;  Commercialization status report 18 months after PoP.
  • A second RFP will be released in early CY2012

More information can be found at http://www.cit.org/programs/cit-rd/crcf/2012solicitation.