VIPC Awards Commonwealth Commercialization Fund Grant to Virginia Commonwealth University

CCF grants support startups, critical early technology testing and market validation efforts

This funding will enable us to further our neuromodulation procedure research and training as we continue to provide world-class research opportunities for our students and faculty alike.”

— Dr. Hadimani, VCU Assoc Professor & Director of Biomagnetics Laboratory

RICHMOND, VIRGINIA, UNITED STATES, December 14, 2022 / — The Virginia Innovation Partnership Corporation’s (VIPC), Commonwealth Commercialization Fund (CCF) today announced that Virginia Commonwealth University (VCU) has been awarded a CFF grant of $75,000 to support a product commercialization project led by Dr. Ravi L. Hadimani. VIPC’s CCF programs have distributed more than $43 million to Virginia-based startups, entrepreneurs and university-based inventors since 2012.

VCU is a public research university that is based in Richmond, Va. Dr. Hadimani is an Associate Professor of Biomedical Engineering and Director of VCU’s Biomagnetics Laboratory. Professor Hadimani specializes in non-invasive brain stimulation, biomagnetics, magnetocalorics and energy harvesting research. This CCF grant will be used to develop a personalized human brain phantom and individualized rat brain phantoms for neuromodulation procedure research and training.

“We are thrilled to receive a CCF grant from VIPC,� said Dr. Hadimani. “This funding will enable us to further our neuromodulation procedure research and training as we continue to provide world-class research opportunities for our students and faculty alike.�

“We are pleased to award a CCF grant to support Dr. Hadimani’s translational research at VCU,� said Sean Mallon, VIPC’s VP for Commercialization. “VIPC’s CCF higher education grant program plays an important role in getting funding to entrepreneurially-minded university researchers as they work to take innovations from lab to market. Dr. Hadimani and his team are well-positioned to develop products
that improve human health.�

CCF accepts applications and awards funding on a rolling basis to Virginia’s small businesses and university-based innovators. The CCF Higher education grant program seeks to fund high-potential Virginia-based academic research teams that are developing technologies with strong commercial potential. 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:

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 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 Follow VIPC on Facebook, Twitter, and LinkedIn.

Angela Costello, Vice President of Communications
Virginia Innovation Partnership Corporation (VIPC)
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