| Honored as the "2010 Outstanding Research Park" awarded by the Association of University Research Parks (AURP) at the 2010 International Conference in Minneapolis, Minnesota, the Virginia Tech Corporate Research Center is recognized for its achievements of outstanding research parks and industry veterans and encourages the development of best practices among research and science parks. |
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| • | Facts | ||||||||
| • | Objectives | ||||||||
| • | Other Awards | ||||||||
| • | Competitive Advantage | ||||||||
| • | CRC Presentation | ||||||||
| • | CRC Video | ||||||||
| • | Programs for Success | ||||||||
| • | Technologies | ||||||||
| Mission |
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| The CRC's mission is to develop a growing, prestigious research park for high-technology companies. Concurrently, the CRC will, in collaboration with the university, advance the research, educational, and technology transfer missions of Virginia Tech (VT). The CRC advances the research mission of VT by helping to create research relationships between companies at the CRC and Virginia Tech. For example, a tenant company could sponsor research at VT as part of a SBIR (Small Business Innovative Research) contract. The CRC advances the educational mission of VT by working with faculty to identify student projects that can be done at the CRC. For example, MBA students create business plans for CRC companies. The CRC advances the technology transfer mission of VT by having an incubator program called VT KnowledgeWorks that creates companies based on VT developed technology licensed by Virginia Tech Intellectual Properties, Inc. (VTIP). |
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| Size | |||||||||
| Currently has 27 completed buildings totaling 956,000 square feet on 120 acres of land. Total build-out is planned to be another 18 buildings totaling 870,000 square feet housing 3,000 employees in Phase II. | |||||||||
| Population | |||||||||
| • | At Present: | ||||||||
| 140+ tenants 2,200 employees 600 students |
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| • | The park attracts about 20 new tenant companies per year. | ||||||||
| • | The private company failure rate is less than 3% per year. | ||||||||
| Organization | |||||||||
| CRC is a for-profit wholly-owned, private subsidiary of the Virginia Tech Foundation, and is, therefore, not a state entity. Created in July 1985, its first building was completed in 1988. | |||||||||
| VT Research | |||||||||
| • | Over $1 million in annual industry-sponsored research at Virginia Tech comes from companies in the CRC | ||||||||
| • | VT performs over $375 million per year in research. | ||||||||
| • | In the last two years Tech received 377 invention disclosures, filed 293 patent applications, entered into 47 license and option agreements with companies and were issued 53 patents. | ||||||||
| Medical School | |||||||||
| • | The Edward Via Virginia College of Osteopathic Medicine opened in the fall of 2003 | ||||||||
| • | 650 students in a 4-year program | ||||||||
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| • | Enhance the quality, stature and reputation of Virginia Tech by increasing corporate and government research relationships with Tech through tenancy at the CRC. | ||||||||
| • | Provide facilities and support to the university and Virginia Tech Intellectual Properties, Inc., to help bring faculty research to commercial reality and transfer technology to the private sector. | ||||||||
| • | Create and maintain attractive sites, buildings and physical environs for laboratories, offices and other uses in basic and applied research, quality assessment, prototyping, and testing. | ||||||||
| • | Provide research-related employment for Virginia Tech undergraduate, graduate, cooperative students, faculty, staff, and spouses. | ||||||||
| • | Contribute to employment and economic growth in the region and the Commonwealth through the expansion of the park, development of local infrastructure to support the park, support of the Business/Technology Center, and support of university outreach initiatives with non-CRC companies and communities. | ||||||||
| • | Assist with university research programs and initiatives that facilitate economic development activities throughout the university by matching the needs of CRC businesses, facilities, and programs with the research and professional capabilities of Virginia Tech thereby increasing the level of industry-sponsored research at Virginia Tech. | ||||||||
| • | To be a profitable subsidiary of the Virginia Tech Foundation (www.vtf.vt.edu), capable of returning income to the Foundation on an annual basis. | ||||||||
| • | Assist the university with its teaching mission by identifying opportunities for classes to use the CRC and its companies for classroom projects, special studies, internships, cooperative education experiences, and on-site instruction. | ||||||||
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| Other Awards | |||||||||
| In 1997, the CRC was named “Best Practice in Technology Transfer and Research Centers” in the mid-Atlantic region by the National Council for Urban Economic Development Administration of the U.S. Department of Commerce and selection to “IT-PARCS”, a network of the best research parks in the world. In 2001, the CRC was selected to represent the eastern U.S. in a world-wide network of the best research parks and in 2004, the CRC was one of three national finalists for the “Excellence in Technology-led Economic Development Award.” |
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| The CRC adds value through the availability of high-quality business assistance services in addition to offering solely real estate. As a result, these services aid in the success of tenant companies and ultimately, the CRC. | |||||||||
| • | CRC provides the highest quality work environment in a beautiful, clean mountain setting. |
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| • | Labor, facility, and telecommunication costs are competitively low. | ||||||||
| • | Adjacent to the Virginia Tech Airport and a 1/2 hour drive from Roanoke Regional Airport, the CRC offers an easily accessible location. | ||||||||
| • | 27 single and multi-tenant buildings accommodate companies of every size. | ||||||||
| • | The CRC campus is 120 acres of rolling Southwest Virginia countryside in the heart of Virginia's Technology Corridor. | ||||||||
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| Learn about the CRC from this engaging CRC presentation. | |||||||||
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| Learn about the CRC from this engaging video. | |||||||||
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| Programs For Success | |||||||||
| • | Affiliates | ||||||||
| • | Business Assistance | ||||||||
| • | Financial Assistance |
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| • | Human Resource Assistance | ||||||||
| • | Networking | ||||||||
| • | Training and Brown Bag Seminars | ||||||||
| • | Telecommunications |
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| • | Tenant Support Services | ||||||||
| • | Virginia Tech Partnership Benefits | ||||||||
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| Technologies | |||||||||
| • | Agriculture | ||||||||
| • | Biotechnology | ||||||||
| • | Business Assistance | ||||||||
| • | Computer Science | ||||||||
| • | Electronics | ||||||||
| • | Engineering and Design | ||||||||
| • | Environmental | ||||||||
| • | Forestry | ||||||||
| • | Internet/Telecom | ||||||||
| • | Legal Assistance | ||||||||
| • | Library Science | ||||||||
| • | Materials and Chemistry | ||||||||
| • | Medical Products/Devices | ||||||||
| • | Transportation | ||||||||
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About the CRC
The Virginia Tech Corporate Research Center is home to over
140 leading-edge high-tech companies engaged in diverse areas of research and technology.
