Virginia firms and universities receive funds for projects in clean energy, cybersecurity, data analytics, life sciences, and unmanned systems.
Last week Governor Ralph Northam announced that CTP is among 26 small Virginia businesses to receive incentive grants to commercialize research in clean energy, cybersecurity, data analytics, life sciences, and unmanned systems. The Commonwealth Research Commercialization Fund (CRCF) grants award $2.48 million in funding to drive progress in these sectors of emerging technologies.
“These entrepreneurs and innovators are on the front lines of bringing new products and technologies to market, while driving job creation and supporting Virginia’s economic recovery efforts,” Northam said. “I am pleased that the Commonwealth is able to support these growing companies as they develop high-potential solutions in emerging industries and build businesses from research started right here in Virginia.”
Building on CTP’s extensive capability in export control services, our current/prototype classification tool is a rules-based application which compares an item’s technical specifications and performance characteristics (i.e., input data) against the U.S. Munitions List (USML) and the Commerce Control List (CCL). The tool then reports the results to a CTP expert, who reviews the aggregate data to approve/revise/update the tool’s findings.
CTP will use its CRCF funding to enhance the first classification step with the integration of neural networks and deep learning algorithms, which will enable the tool to improve efficiency and accuracy in its classification determinations. CTP will increase the functionality and scalability of the application by moving it to the cloud where testing will be easier and eventual large-scale commercialization will be possible.
The CRCF is administered by Virginia’s Center for Innovative Technology (CIT) and aims to accelerate innovation and economic growth in the Commonwealth by supporting solutions to important state, national, and international challenges through technology research, development, and commercialization. Since its inception in 2011, CRCF has awarded more than $30 million in grants to help launch nearly 380 early-stage technology projects in strategically important industries.