CCF grants support startups, critical early technology testing and market validation efforts
RICHMOND, VIRGINIA, UNITED STATES, December 20, 2022 /EINPresswire.com/ — The Virginia Innovation Partnership Corporationâ€™s (VIPC), Commonwealth Commercialization Fund (CCF) today announced that Kinometrix has been awarded a CCF grant of â€‹$75,000. VIPCâ€™s CCF program has distributed more than $43 million to Virginia-based startups, entrepreneurs and university-based inventors since 2012.
Kinometrix, based in Fort Belvoir, Va., is a developer of a risk assessment system designed to revolutionize the way clinicians monitor patient fall risk status and allow nurses to better provide fall-prevention care. This CCF grant will be used to help analyze additional proprietary inpatient records to enhance model robustness and complete development of the patient safety analytics platform. This company has previously received funding from Virginia Venture Partners.
â€œWe are thrilled to receive a CCF grant from VIPC,â€� said Devina Desai, CEO, Kinometrix. â€œThis funding will enable us to better provide nursing staff a way to manage risk through specific actionable fall risk reports, yielding better and more targeted fall-prevention care, empowering all members of the care team to practice at the top of their licenses.â€�
â€œWe are pleased to award a CCF grant to Kinometrixâ€� said Sean Mallon, VIPCâ€™s VP for Commercialization. â€œVIPCâ€™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, and the Kinometrix team is working hard to build a scalable product that will improve health and safety outcomes within the hospital environment.â€�
CCF accepts applications and awards funding on a rolling basis to Virginiaâ€™s small businesses and university-based innovators. This competitive grant program seeks to fund high-potential, Virginia-based, for-profit technology companies at the pre-seed 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 online: www.virginiaipc.org/ccf
About the Commonwealth Commercialization Fund (CCF)
The 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.
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 Virginiaâ€™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 | Unmanned Systems | Advanced Air Mobility (AAM) | Public Safety Innovation |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.