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

RICHMOND, VIRGINIA, UNITED STATES, August 9, 2023/EINPresswire.com/ -- The Virginia Innovation Partnership Corporation (VIPC), today announced that ​​WorkReels 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 Richmond, Va., WorkReels enables talent acquisition professionals to easily make and share high-quality, affordable social media videos for recruiting for about 1/20 the price of video production. This CCF grant will be used to test and validate WorkReels' business models with four reseller partners.

“We are grateful to receive a CCF grant from VIPC,” said Rick Jones, CEO, WorkReels. “We are excited to work with talent acquisition solution providers to discover more ways that WorkReels adds value to businesses, identifies early adopters, learns from customer experience, and generates new revenue."

“We are pleased to award a CCF grant to WorkReels,” 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. WorkReels’ video-enabled talent acquisition solution is already helping companies cost-effectively recruit talent by better leveraging social media channels.”

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 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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