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VIPC Awards Commonwealth Commercialization Fund Grant to Splice Technologies to Automate Supply Chain Logistics
News provided byEIN Presswire
Aug 15, 2023, 10:00 AM ET
CCF grants support startups, critical early technology testing and market validation efforts
RICHMOND, VIRGINIA, UNITED STATES, August 15, 2023/EINPresswire.com/ -- The Virginia Innovation Partnership Corporation (VIPC) today announced that Splice Technologies, Inc. (Splice) has been awarded a Commonwealth Commercialization Fund (CCF) grant for $62,700. VIPC’s CCF programs have distributed more than $51 million to Virginia-based startups, entrepreneurs and university-based inventors since 2012. Splice previously received funding from VIPC’s Virginia Venture Partners.
Based in Norfolk, Va., Splice is a data-sharing platform that automates logistics processes, and the CCF grant will fund a product extension of Splice’s current application for exports. During the supply chain crisis, container shippers, forwarders and truckers were charged $8.9 billion in excessive equipment and storage fees, known as detention and demurrage. The product extension will simplify the validation of invoices for these fees by collating and reporting information currently tracked by Splice.
“We are thrilled to receive a CCF grant from VIPC,” said Kevin Speers, CEO of Splice. “Our platform is able to bridge the digital gaps in logistics processes, increasing the effectiveness of imports, exports, and cargo operations to help supply chains run more efficiently.”
“We are pleased to award a CCF grant to Splice,” 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. The Splice team is leveraging its deep expertise in the shipping logistics space to bring solutions to market that are making their customers’ lives easier and saving them real money.”
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 www.VirginiaIPC.org. Follow VIPC on Facebook, Twitter, and LinkedIn.
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