This grant opportunity is provided by the Virginia Innovation Partnership Authority (VIPA) for high-potential, Virginia-based, for-profit technology companies at the proof-of-concept, product development, or other pre-seed stages of commercialization. The grants can provide up to $75,000 to support early technology and market validation efforts such as prototype development, customer pilots, and intellectual property protection. Applications are accepted on a rolling basis and awards are made throughout the year with a typical application turnaround time of 90 days. Eligible companies must be for-profit Virginia-based companies in good standing with the federal government and Commonwealth of Virginia. They must also operate in one of the targeted industries listed, have received no more than one prior grant from VIPA, and commit to growing their business in Virginia. Matching funds are required with a minimum one-to-one match. Projects should have timelines that allow for 2-3 key milestones and typically range from 6-12 months. The selection process involves initial review by VIPA, pitching the project to the CCF team, due diligence, and final approval by the President of VIPA. Evaluation criteria include market need, technical risks, development milestones, budget efficiency, project strength, team potential, and impact on scaling into a successful Virginia-based technology startup.
