Southern Utah University
Location |
Cedar City, UT |
|
---|---|---|
Build to Scale Program |
Venture Challenge |
|
Project Name |
Accelerating Innovators: Fueling Cedar City Regional Startups |
|
Award Amount |
Federal Share |
Local Match |
$749,334 |
$749,334 |
This project intends to stimulate entrepreneurial innovation, scalable startups, and job creation by enhancing the overall innovation capacity and long-term resilience of the region. This will be done through the execution of a strategic plan created during the 2020 Rural Innovation Initiative sponsored by the U.S. Economic Development Administration (EDA). This plan revolves around three pillars that will comprise the Accelerating Innovators program: (1) entrepreneurial programming and capacity building through competitions, better defined mentorship/coaching programs, and filling the gaps identified in creating an accelerator program, (2) exploring opportunities for a future network of investors and funding opportunities, and (3) capacity building for culture creation through new channels of communication with entrepreneurs and expanded mentor outreach. These activities and programs will fill identified gaps in the current entrepreneurial support system and ensure startups have the support they need to adopt new technologies and develop strategies that advance the pace of market readiness. As a result, this project will ultimately expand the success of innovation-driven industry and will double the number of scalable startups each year over the next three years and beyond.