Virginia Tech Corporate Research Center

Virginia Tech Corporate Research Center

Nestled in the heart of Virginia’s Technology Corridor and adjacent to the Virginia Tech (VT) campus, the Virginia Tech Corporate Research Center (VTCRC) is home to over 180 research, technology and support companies. Our 230-acre park is located in a beautiful mountain setting, with easy access to the metropolitan areas of northern Virginia and the nation’s capital. An expansion on the northwest side of the park provides enough land to construct 15 buildings in addition to the 33 single- and multi-tenant buildings currently on-site. The VTCRC employs over 3,000 employees.

Mission

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 helps to create companies based on VT-developed technology licensed by Virginia Tech Intellectual Properties, Inc. (VTIP).

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 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 Strategic Services, 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, 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.

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. 

The information on this page is provided courtesy of YesMontgomeryVA.org.

Did You Know?

In 2010, Virginia Tech ranked 10th among universities globally on the “IEEE Spectrum Patent Power Scorecard,” which analyzed the strength of patent portfolios for calendar year 2009. During fiscal year 2010, 37 U.S. patents and 7 foreign patents were awarded to Virginia Tech Intellectual Properties and 44 license and option agreements were signed.