RD141 - Report on the Commonwealth Technology Research Fund: Advancing Technology and Economic Development in Virginia by Investing in Higher Education Research


Executive Summary:
In accordance with § 2.2-2233.1.E of Title 22, Chapter 22, Article 3 of the Code of Virginia, this report regarding the Commonwealth Technology Research Fund (CTRF) is respectfully submitted. The CTRF was created to attract public and private research funding for institutions of higher education, in order to increase technological and economic development in Virginia. Awards from the Fund were made to Virginia public institutions of higher education or their associated intellectual property foundations.

A total of 12 grants were made: seven in July 2001, four in January 2002, and one in January 2003, for a total of $24,574,630. Implementation costs (including honoraria for peer reviews) amounted to $45,992, for a grand total of $24,620,622 in expenses under this program. Of the12 grants, five projects have been completed; three were completed in FY 2004 and two, Advancing Virginia's Information Security Expertise (JMU) and the Cancer Genomics & Development of diagnostic Tools & Therapies (VCU), were completed in this report period. Seven projects remain underway, with all currently scheduled to be completed in FY 2006. A summary of each project appears in the next section.

All grantees are required to submit annual progress reports; however, they come in at various times of the year in accordance with the period of performance for each grant. Highlights of achievements and activities since the Fund's inception include the following:

• Recruitment of Strategic Personnel - Recruiting and hiring of top candidates in various technology fields; new hires included post-doctoral fellows, promising junior faculty and senior faculty who bring strong reputations and the ability to secure major federally-funded research. Grant recipients report more than 220 students have been supported by the Fund; these include undergraduate and graduate students, as well as post-doctoral research associates, Ph.D. candidates, and M.S. candidate level students.

• Leveraged Funding - Approximately $138.6M has been leveraged to date by CTRF grant participants; this is more than a 5.6:1 return. CTRF recipients have won more than 120 federal, private, and foundation grants and have received more than $3M in donated equipment. Leveraging includes a $5M, 5-year commitment from the Air Force Office of Scientific Research for the Multidisciplinary University Research Initiative (MURI) at UVA, a $10.3M award from the National Institutes of Health - National Institute of Allergy and Infectious Disease to the Virginia Bioinformatics Institute, and an $8.2M award from the National Institute for Standards and Technology for the Commonwealth Information Security Center.

• Industry Inducement - Relocation of a leading bioinformatics company to Virginia --Incogen invested $2.4 million to relocate from South Carolina as a result of the College of William and Mary Industry Inducement Award. Incogen received a $2M SBIR Phase II award for cancer diagnostics and will be the owner of a building in anew research and technology park planned in Williamsburg.

• Strategic Partnerships - Establishment-of strategic partnerships with businesses and other organizations to advance Virginia's leadership in technology research, such as the partnership between VCU, GMU, and INOVA that is working on cancer genomics and related diagnostic tools and therapies. The Center for High Performance Manufacturing delivered more than ten presentations in the Commonwealth in FY2005 to more than 150 individuals. Recent active membership of the Virginia Modeling, Analysis, and Simulation Center totaled 105 organizations, including 72 industrial members, 13 government members, and 10 academic members.

• Upgraded Facilities - Renovation and upgrading of research facilities at UVA's Gilmer Hall and the Virginia Modeling, Analysis and Simulation Center at Old Dominion University.

• Capital Equipment - Acquisition of major scientific equipment and computer hardware and software, enabling grantees to enhance their research programs, attract additional funding and new research staff, and enhance education and training.

• Publications and Presentations - CTRF award recipients have recorded more than 280 publications and presentations.

• Intellectual Property - CTRF award recipients have reported more than 30 disclosures, patent applications, patents received, and licenses.