
VIPC Awards Commonwealth Commercialization Fund Grant to Criticality Sciences
CCF grants support startups, critical early technology testing and market validation efforts
RICHMOND, VIRGINIA, UNITED STATES, March 24, 2023/EINPresswire.com/ -- The Virginia Innovation Partnership Corporation (VIPC), today announced that Criticality Sciences, Inc. has been awarded a Commonwealth Commercialization Fund (CCF) grant for $75,000. VIPC’s CCF programs have distributed more than $47 million to Virginia-based startups, entrepreneurs and university-based inventors since 2012.
Based in Alexandria, Va., Criticality Sciences provides risk-based resilience metrics and mitigation options for critical infrastructure, like power and water systems. Its flexible proprietary software tools assess system and cross-sector resilience against cascading failures caused by disruptions from weather and climate events, cyber incidents, accidents, and attacks. This CCF grant will improve throughput of the proprietary software that enables utilities to continuously improve resilience, optimize capital improvement plans, and support resilience investments in rate applications to better protect people, the economy, and the nation.
“We are thrilled to receive a CCF grant from VIPC,” said Susan Ginsburg, CEO of Criticality Sciences. “Brought together in the wake of 9/11 by a common drive to protect communities and the critical infrastructure we all depend on, we have become the first provider to quantify threshold resilience to catastrophic cascading failures across complex networks of all types.”
“We are pleased to award a CCF grant to Criticality Sciences,” said Sean Mallon, VIPC’s VP for Commercialization. “VIPC’s CCF grant program plays an important role in getting funding to Virginia-based pre-seed and seed-stage startups when they need it most. Our goal is to help Virginia companies grow and lead the nation in innovation, opportunity, and job creation. With its unique science-based approach and early customer engagement, Criticality Sciences is establishing itself as an innovative player in the resilience planning space.”
CCF accepts applications and awards funding on a rolling basis to Virginia’s small businesses and university-based innovators. This competitive grant program seeks to fund high-potential Virginia-based for-profit technology companies at the early stage of commercialization and provides grants up to
$75,000. 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: 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.
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.
Angela Costello, Vice President of Communications
Virginia Innovation Partnership Corporation (VIPC)
angela.costello@VirginiaIPC.org
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