Cal Poly Corporation

This EDA investment will fund the Coast Innovation Lab & Accelerator program, which will create a regional entrepreneurial ecosystem in the County of San Luis Obispo, a predominately rural area in central coast of California. By expanding entrepreneurial infrastructure and promoting commercialization of products and concurrent development of potential new companies, the region hopes to counter the impending effects of the closure of a nuclear power plant. The project will focus on increasing regional economic diversification, particularly in the industry clusters of Knowledge & Innovation and Advanced Manufacturing. By supporting entrepreneurs and the development of new technologies and products, the Cal Poly Corporation estimates that five years after the grant end, they will generate 648 new jobs with an average annual salary of over $57 thousand.