CCF grants support startups, critical early technology testing and market validation efforts

RICHMOND, VIRGINIA, UNITED STATES, August 7, 2023/EINPresswire.com/ -- The Virginia Innovation Partnership Corporation (VIPC) today announced that Luna Labs has been awarded a Commonwealth Commercialization Fund (CCF) grant for $75,000. VIPC’s CCF programs have distributed more than $51 million to Virginia-based startups, entrepreneurs and university-based inventors since 2012.

Based in Charlottesville, Va., Luna Labs is a research and product development company creating solutions for the aerospace, energy, automotive, health sciences, emergency response, and defense industries. The company partners with universities, government labs, and innovative companies around the world to explore the feasibility of new ideas and generate new technology solutions. With the success of its TrueClot^® bleeding control training products, the company has expanded its medical simulation expertise to help medical professionals practice reducing dislocated joints following injury. This CCF grant will enable Luna Labs to expand its product line of joint reduction trainers to include additional joints.

“This CCF funding from VIPC validates the importance of these medical simulation devices,” said James Garrett, CEO of Luna Labs. “There is currently no widely adopted, hands-on method to practice reducing a dislocated joint following injury. We are committed to expanding our joint reduction training products to ensure athletic trainers and other medical personnel are well-trained to properly treat these injuries. This is a targeted area where we are providing innovation for health sciences and expanding our growing product offerings across the medical simulation space.”

“We are pleased to award a CCF grant to Luna Labs,” said Jeanette Townsend, VIPC’s Director for Private Sector Grants. “VIPC’s CCF grant program supports innovative product development efforts within Virginia-based high-growth companies. Our goal is to help Virginia companies grow and lead the nation in innovation, opportunity, and job creation. Luna Labs’ innovative joint reduction trainers promise to meet an important and unmet need in the marketplace.”

About the Commonwealth Commercialization Fund (CCF)
VIPC’s Commonwealth Commercialization Fund (CCF) awards grant funding on a rolling basis to Virginia’s small businesses and university-based innovators. The CCF Private Sector grant program seeks to fund high-potential Virginia-based for-profit technology companies at the early stage of commercialization. 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 Virginia Innovation Partnership Corporation (VIPC)
VIPC: Connecting innovators with opportunities. As the nonprofit operations arm of the Virginia Innovation Partnership Authority (VIPA), 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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