Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: FRIDAY, February 25, 1994 TAG: 9402250078
SECTION: VIRGINIA PAGE: B-4 EDITION: METRO
SOURCE: STEPHEN FOSTER STAFF WRITER
DATELINE: LENGTH: Medium
The Technology Reinvestment Project released awards Wednesday to groups around the country working to turn defense-related technology into commercially viable civilian products.
The Virginia Department of Economic Development, Virginia Tech and the Center for Innovative Technology together were awarded $3.9 million over two years, said Fred Krimgold, Tech's director of technology assistance and development.
With that money and another $4.2 million in matching funds put up by the three organizations, they will form the Virginia Alliance for Manufacturing Competitiveness, which will use largely existing means to help small- to medium-size companies to convert, he said.
"It's extremely important that we get this assistance at this time," Krimgold said. "This money is going to help us dramatically to make that adjustment."
The money will be used to fund existing programs such as communication networks, data access systems and consulting efforts, and to pay personnel.
Catherine Renault, director of federal business development for the Center for Innovative Technology in Herndon, said the money will be used to hire nine more agents to work with the alliance's manufacturing extension service, an idea modeled after Virginia Tech's agricultural extension service. Twenty-four agents already are on the job.
"Putting resources out there in the field" will be the alliance's most important effort, she said.
Dave Dickson, director of community and business services with the Department of Economic Development, said the federal money almost doubles what the group had to work with before.
By putting the three organizations together, it gives them more leverage in obtaining state and federal funds and allows for a more "orchestrated approach," he said.
"We thought it made sense for us to all work together," Renault said.
The money came as somewhat of a surprise to the group. When contacted Thursday morning, some Tech officials and Renault weren't aware they were receiving the funds.
"This is exciting and new and everything," Renault said.
Jan Walker, spokeswoman for the Pentagon, said the Technology Reinvestment Project received so many "meritorious proposals" that after all its fiscal year 1993 funds were used up, it was decided to take $140 million from fiscal 1994 funds and use them now.
More than 360 companies, universities and state and local governments were told Wednesday they would receive money. More than 2,800 proposals were made; 212 were funded, according to the Pentagon. More than $600 million will be handed out.
Douglas Devereaux, a regional manager for the National Institute of Standards and Technology, the federal entity overseeing the project, said it could be a couple of months before the money is distributed.
"They need to develop a start-up plan" to form the alliance, he said.
He said it was premature to discuss how successful the project has been, or how well the recipient organizations have done.
"These programs are just beginning initiatives," Devereaux said. "No one has completed their stated work."
by CNB