VIPC Awards Commonwealth Commercialization Fund Grant to ReachSuite
CCF grants support startups, critical early technology testing and market validation efforts
RICHMOND, VIRGINIA, UNITED STATES, May 31, 2023/EINPresswire.com/ -- The Virginia Innovation Partnership Corporation (VIPC) today announced that ReachSuite has been awarded a Commonwealth Commercialization Fund (CCF) grant for $75,000. VIPC’s CCF programs have distributed more than $49 million to Virginia-based startups, entrepreneurs and university-based inventors since 2012.
Based in Arlington, Va., ReachSuite is powering the product experience infrastructure for software companies around the world. This CCF grant will help ReachSuite build the next generation of SaaS product experiences, accelerating the industry's ability to sell to the next generation of buyers.
“We are thrilled to receive a CCF grant from VIPC and bring another hyper-growth software company to the state,” said Mr. Collin Smith, CEO and co-founder of ReachSuite. “We’re grateful for the traction and market validation we’ve received over the last few months - it’s clear we’re solving a painful problem for software companies.”
“We are pleased to award a CCF grant to ReachSuite,” said Jeanette Townsend, VIPC’s Director for Private Sector Grants. “VIPC’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. ReachSuite is tackling an important pain point felt by enterprise software companies by converting their live product demos into self-serve, fully functional product demos.”
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 and provides grants up to $75,000. The grants support early technology and market validation efforts such as the 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 the CCF pages at www.VirginiaIPC.org.
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. | 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.
Angela Costello, Vice President of Communications
Virginia Innovation Partnership Corporation (VIPC)
angela.costello@VirginiaIPC.org
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