Virginia Catalyst Announces Round 9 Awarded Projects
RICHMOND, VA – June 4, 2019 – The Virginia Catalyst, formerly known as the Virginia Biosciences Health Research Corporation (VBHRC), today announced that it has awarded $2.1 million in grants to four life and bioscience projects in the Commonwealth of Virginia. These grants, which will be met with nearly $3.2 million in matching funds from partner companies, were awarded as Round 9 of Virginia Catalyst’s ongoing mission to stimulate economic development by promoting collaborative projects that address large, unmet needs for improving human health, and that can create high-paying jobs in the Commonwealth.
“As national and global leaders in life sciences, Virginia’s research universities continue to foster collaborations, to combine their intellectual and scientific expertise with industry to achieve meaningful results,” said Mike Grisham, CEO, Virginia Catalyst. “We are excited to continue our mission of supporting collaborations in Virginia’s biosciences. The critical mass achieved by these collaborations provides Virginia with competitive advantages over other states and has resulted in significant outside capital being invested in Virginia to finance the commercialization of Virginia’s innovations, while creating high-paying jobs for the Commonwealth.”
Through this ninth round of funding, Virginia Catalyst has awarded 31 grants totaling over $15.9 million, resulting in a combined $33.4 million in matching funds and an additional $138 million in follow-on funding.
Read the full press release
“As national and global leaders in life sciences, Virginia’s research universities continue to foster collaborations, to combine their intellectual and scientific expertise with industry to achieve meaningful results,” said Mike Grisham, CEO, Virginia Catalyst. “We are excited to continue our mission of supporting collaborations in Virginia’s biosciences. The critical mass achieved by these collaborations provides Virginia with competitive advantages over other states and has resulted in significant outside capital being invested in Virginia to finance the commercialization of Virginia’s innovations, while creating high-paying jobs for the Commonwealth.”
Through this ninth round of funding, Virginia Catalyst has awarded 31 grants totaling over $15.9 million, resulting in a combined $33.4 million in matching funds and an additional $138 million in follow-on funding.
Read the full press release
About the Virginia Catalyst
We are a not-for-profit 501(c)(3) corporation created by the Virginia General Assembly and funded by the Commonwealth’s General Fund and seven Virginia public research universities: Eastern Virginia Medical School, George Mason University, Old Dominion University, University of Virginia, Virginia Commonwealth University, Virginia Tech and William & Mary.
Our Mission
Our mission is to advance economic development by creating competitive critical mass for Virginia life sciences through collaborations with our research universities and industry, to attract research and commercialization capital to Virginia and to catalyze the commercialization of Virginia’s innovations that meet large, unmet medical needs, improve human health and to create many more high-paying life science jobs in Virginia.
Our goal is to have the Commonwealth of Virginia be the very best in the nation at translational medicine and commercialization. We will achieve this by teaming up the biosciences industry with our world-class academic researchers and focusing efforts on solving large unmet medical needs.
– Michael Grisham, CEO
Our Strategic Initiatives - Actions and Results for Virginia
At the Virginia Catalyst we specialize in developing and leading strategic initiatives in areas were Virginia can be a national and global leader. We support these initiatives with grant funding for collaborative projects, investments creating research tools, and infrastructure that provide our research universities, healthcare systems and companies a competitive advantage over other regions in the country.
Grant Funding
Continuing powerful impact through our Grant Funding
Grant funding for collaborations of universities and industry on commercialization projects
The Virginia Catalyst continues to hold competitive grant funding rounds for collaborations of universities and industry on commercialization projects. Our Grant Funding program has brought Virginia a 10-to-1 return on investment!
Our Cumulative Four Year Impact (2014–18)
$13.8 million in milestone-based grants awarded to
27 projects involving 6 universities and 23 companies, bringing in immediately
$31.2 million in matching funds from private industry, then
$137.88 million in follow-on funding for those companies, and creating
145 new high paying jobs in Virginia
Grant funding for collaborations of universities and industry on commercialization projects
The Virginia Catalyst continues to hold competitive grant funding rounds for collaborations of universities and industry on commercialization projects. Our Grant Funding program has brought Virginia a 10-to-1 return on investment!
Our Cumulative Four Year Impact (2014–18)
$13.8 million in milestone-based grants awarded to
27 projects involving 6 universities and 23 companies, bringing in immediately
$31.2 million in matching funds from private industry, then
$137.88 million in follow-on funding for those companies, and creating
145 new high paying jobs in Virginia
Neuroscience Initiative
Building the infrastructure to support greater success and impact
Creating systems and relationships to act as a whole, with a greater potential than any of the parts
We are bringing Virginia’s researchers, professors, healthcare providers, university students, and industry partners together to create critical mass for scientific, medical and commercial collaborations with a unique and innovate approach:
• 22 different Interest Groups formed totaling > 1,100 members holding monthly meetings
• MOU signed by Virginia research universities to readily share core facilities / resources
Creating systems and relationships to act as a whole, with a greater potential than any of the parts
We are bringing Virginia’s researchers, professors, healthcare providers, university students, and industry partners together to create critical mass for scientific, medical and commercial collaborations with a unique and innovate approach:
• 22 different Interest Groups formed totaling > 1,100 members holding monthly meetings
• MOU signed by Virginia research universities to readily share core facilities / resources
