Virginia Tech Corporate Research Center: General Information

The Virginia Tech Corporate Research Center
is home to over 100 companies engaged in leading-edge research in diverse areas of technology.

Competitive Advantage
CRC Presentation
Facts
Objectives
Programs for Success

COMPETITIVE ADVANTAGE

CRC provides the highest quality work environment in a beautiful, clean mountain setting.
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.
24 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.

ABOUT THE CRC

View PowerPoint Presentation

FACTS

Mission:
	....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).
Size:
	Currently have 24 completed buildings totaling 750,000 square feet on 120 acres of land.
	Total build-out is planned to be 27 buildings totaling 1 million square feet housing 3,000 employees in Phase I.
*Population:*
•	At Present:
	- 140 Tenants
	- 2,000 Employees
	- 600 Students
•	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.
*VT Research:*
•	Over $1 million in annual industry-sponsored research at Virginia Tech comes from companies in the CRC.
•	VT performs over $320 million per year in research.
•	VT is ranked 4th in patents issued among non-medical schools and has $1.5 million in annual licensing income.
*Medical School:*
•	The Edward Via Virginia College of Osteopathic Medicine opened in the fall of 2003
•	600 students in a 4-year program.
•	60,000 square feet Phase I

The CRC was established in 1985 with the following objectives:

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 opportunities 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.

PROGRAMS FOR SUCCESS

The CRC offers more than real estate. These programs have been designed to enhance opportunities for success:

• Business Assistance

• Financial Assistance

• Training

• Telecommunications

• Tenant Support Services

• Human Resources Assistance

• Virginia Tech Partnership

• Community Impact Program

• Affiliates Program

• Networking Program

• Virginia Israel Tech Alliance (VITAL) Program

• Tech Alliance with South Korea (TASK) Program

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

UNIVERSITY ADVANTAGES

The CRC is located adjacent to Virginia Tech, the largest research university in Virginia and among the top 50 in the nation. Tech conducts over $320 million per year in advanced research. Tech ranks 4th in the U.S. in patents, 10th in licenses, and 13th in royalty income for universities without medical schools. Virginia Tech is pro-business and a major source of research breakthroughs and potential employees.Numerous studies have shown that locating a high-tech company next to a major research university is a very successful strategy. CRC companies enjoy all student/faculty benefits of the university, including discounted bookstore purchases and sport and cultural event tickets.

PHOTOGALLERY

View Photogallery

PICTORIAL HISTORY

View PowerPoint Presentation