CCF grants support startups, critical early technology testing, and market validation efforts
The Virginia Innovation Partnership Corporation (VIPC) today announced that Electra.aero, Inc. has been awarded a Commonwealth Commercialization Fund (CCF) grant. VIPC’s CCF programs have distributed more than $47 million to Virginia-based startups, entrepreneurs and university-based inventors since 2012.
Based in Manassas, Va., Electra.aero is a next-gen aerospace company with a mission to help decarbonize aviation and open new air transportation markets with its hybrid-electric short takeoff and landing (eSTOL) aircraft. This CCF grant will be used to perform a rolling, powered wind tunnel test that will help validate the aircraft performance before first flight. MINTangible has also previously received investment funding from VIPC’s Virginia Venture Partners.
“We are deeply thankful to VIPC for their support,” said Dr. John Langford, Founder and CEO of Electra.aero, Inc. “Our company was proudly founded in Virginia and we intend to continue building our innovative eSTOL aircraft here on home turf.”
“We are pleased to award a CCF grant to Electra.aero,” said Jeanette Townsend, VIPC’s Director for Private Sector Grants. “VIPC’s CCF grant program plays an important role in getting funding to early-stage Virginia-based startups when they need it most. Our goal is to help Virginia companies grow and lead the nation in innovation, opportunity, and job creation. By combining deep expertise in electric flight with sustainable aircraft technology and design, Electra.aero is laying the groundwork for convenient net-zero aviation.”
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. The grants support early technology and market validation efforts such as business model validation, development of prototypes or a minimum viable product (MVP), customer pilots, intellectual property protection, and more. For more information on funding opportunities and eligibility requirements, or to apply visit: www.VirginiaIPC.org/CCF-Funding-Opportunities.
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.
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.