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VIPC Awards Commonwealth Commercialization Fund Grant to Rizkly Guided Cyber Security Compliance Service

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

Cybersecurity and Data Privacy Compliance is no longer a point in time snapshot, it is a continuous process and organizations of all sizes need to be prepared. ”
— Chor-Ching Fan, Rizkly, President and CEO,

RICHMMOND, VIRGINIA, UNITED STATES, August 8, 2023/ -- The Virginia Innovation Partnership Corporation (VIPC) today announced that Rizkly 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 Reston, Va., Rizkly helps organizations achieve, demonstrate and sustain compliance with industry and government-mandated cybersecurity and data privacy regulations and frameworks, such as NIST 800-171, CMMC, FedRAMP, SOC2 and CPRA. The company’s Guided Compliance as a Service (GCaaS) offering combines a powerful SaaS with live expert guidance to help small and medium sized businesses succeed and meet cybersecurity best practices. This CCF grant will support Rizkly’s process to achieve FedRAMP authorization.

“Rizkly appreciates the opportunity to work with VIPC and to take our offering even further with this CCF grant,” said Chor-Ching Fan, President and CEO, Rizkly. “Cybersecurity and Data Privacy Compliance is no longer a point in time snapshot, it is a continuous process and organizations of all sizes need to be prepared. Rizkly’s mission is to support companies with these increasingly pervasive requirements in an efficient and effective manner, which will allow them to keep focus on growing their business.”

“We are pleased to award a CCF grant to Rizkly,” said Jeanette Townsend, VIPC’s Director for Private Sector Grants. “VIPC’s CCF grant program plays an important role in getting funding to Virginia-based pre-seed and seed-stage startups when they need it most. Our goal is to help Virginia companies grow and lead the nation in innovation, opportunity, and job creation. Rizkly is addressing an increasingly complex regulatory and compliance landscape for businesses, and we believe their GCaaS offering will empower more organizations to demonstrate compliance with less disruption to their core business.”

About the Commonwealth Commercialization Fund (CCF)
VIPC’s Commonwealth Commercialization Fund (CCF) awards funding on a rolling basis to Virginia’s small businesses and university-based innovators. The CCF Private Sector 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

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 Follow VIPC on Facebook, Twitter, and LinkedIn.

Angela Costello, Vice President of Communications
Virginia Innovation Partnership Corporation (VIPC)
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