$9.3M in expenses

Virginia venture partners (VVP) focuses on direct investment, placing equity investments in early-stage science and technology-based companies through a family of funds spanning multiple generations of tech, life science, and clean energy theses. Since the program's inception in 2005, the VVP program has invested $62.6m in 323 seed and early stage technology, life science, and energy companies across the commonwealth. VVP investments have attracted in $2.2b in private capital. Program service revenue consists of proceeds on liquidated investments. Additionally, funding from the state small business credit initiative (ssbci) program, under the u.s. Department of the treasury, was provided to accelerate the formation and growth of entrepreneurial businesses across the commonwealth of virginia. Approximately $173m of ssbci funding will be allocation to vipc over 10 years, vipc received $18.2m in funds in fy2024.

$8.1M in expenses

The commonwealth commercialization fund (CCF) drives economic growth by providing private sector and higher education grant funding for innovative technology research, development, and commercialization in virginia. In total, more than $60m has been awarded to 670 projects. Since the program's inception, awardees have reported more than $1.8b in follow-on funding and more than $227m in generated revenue.

$5.3M in expenses

Under vipc's contract with the us department of homeland security science and technology directorate is the commercial first innovation program. Key priorities include counter-unmanned systems mitigation, detection of environmental threats, and other public safety-related technologies. Strategic initiative efforts has strategically positioned the commonwealth of virginia to assume a national leadership role in aerospace & defense (a&d), public safety, and public private sector data governance and risk mitigation as new opportunities and challenges evolve. Other program initiatives include: smart communities, partnerships with other commonwealth agencies, and the public safety innovation center.

$10.4M in expenses

Description: other program services1. Entrepreneurial ecosystems2. Unmanned systems3. Federal funding assistance program