ODU Researchers Receive State Grants to Support Project Commercialization
May 29, 2015
Two Old Dominion University researchers have each received $100,000 matching funds grants from the Commonwealth Research Commercialization Fund (CRCF) to seek commercial applications for their groundbreaking research technology.
Gon Namkoong, associate professor of electrical and computer engineering, received $100,000 to support his research into nanoscale high-density energy storage applications utilizing advanced biological compounds and materials.
Nikos Chrisochoides, ODU's Richard T. Cheng Professor of computer science, received a $100,000 award from CRCF to fund his research into real-time fusion of medical images for personalized image diagnosis and therapy.
The CRCF awards were among 38 statewide, totaling more than $2.8 million, which Virginia Gov. Terry McAuliffe announced on May 29, to fund areas of promising research and commercialization. Targeted fieldsareas include advanced manufacturing, cybersecurity and energy and life sciences.
"The CRCF program advances research with potential for economic growth in Virginia," McAuliffe said. "In order to compete with other states and globally, we must focus on early stage economic development. These investments are planting seeds that are helping us grow the new Virginia economy."
The fund is managed by Virginia's Center for Innovative Technology (CIT), and is aligned with the Commonwealth's strategic roadmap for research and technology. For this round, CRCF invited grant applications under six programs - commercialization; eminent researcher recruitment; facilities enhancement; matching funds; Small Business Innovation Research (SBIR) matching funds; and Small Business Technology Transfer (STTR) matching funds.
The goal is to support the private sector, academia and nonprofit research institutes across the state.
"These awards to Dr. Namkoong and Dr. Chrisochoides show how ODU faculty are moving innovations from the lab to the market," said Morris Foster, Old Dominion's vice president for research. "Both projects have great potential to make a difference in all our lives, as well as to add to ODU's critical contributions to regional economic development."
CRCF funding is available to public and private institutions of higher education, private-sector businesses, research institutes and federal labs. The full list of funded awards, along with links to previous Commercialization Fund award-winners, can be viewed at the CIT Website.
Created in 1985, the Center for Innovative Technology is a nonprofit corporation that plugs gaps at the earliest stages of the innovation continuum - commercialization and seed funding - as it helps entrepreneurs launch and grow high-growth technology companies and create high-paying jobs for the future.
The goal is to help create technology-based economic development strategies to accelerate innovation, imagination and the next generation of technology and technology companies.