Grant

February 8 - 12, 2016

$1.65 million in Public Works funds to Berkeley County, South Carolina, to fund construction of a new regional sewer system to support development of an industrial park, which will house the new Volvo manufacturing facility. This project supports expansion of the state’s automotive cluster, and will be a catalyst for economic recovery in the region following layoffs and closures due to recent flooding. This investment is part of a $3.3 million project that the grantee estimates will create 2,000 jobs and leverage $500 million in private investment.
$1,389,100 in Public Works funds to the City of Lake Worth and the Palm Beach County Board of County Commissioners, Florida, to fund critical infrastructure improvements to support development of a 375-acre commerce park in Lake Worth. The improvements will support expansion of existing manufacturing businesses and will help strengthen and enhance diversification of the region’s manufacturing cluster. By boosting new commercial and industrial development, this project will create opportunities for job creation in the region. This investment is part of a $5,426,600 project that the grantees estimate will create 320 jobs and leverage $19.3 million in private investment.
$1.3 million in Public Works funds to Bladen Community College and Bladen County, North Carolina, to construct the Science, Technology, Engineering and Mathematics (STEM)/ Advanced Manufacturing Technology Training facility on the main campus of Bladen Community College. When completed, the new facility will house an industrial chemistry laboratory, advanced manufacturing technology simulation laboratory, STEM-supporting computer classroom, as well as an advanced manufacturing technology industrial bay. This project addresses the region’s workforce training needs and will be a catalyst for growing resilient jobs in the advanced manufacturing sector in Bladen County. This investment is part of a $1.86 million project that the grantees estimate will create 225 jobs and leverage $24.7 million in private investment.
$500,000 in i6 Challenge funds to Arkansas State University, Jonesboro, Arkansas, to leverage local, state, and federal partnerships and funding to create and launch the East Arkansas Regional Innovation System. This system will coordinate and streamline support services and resources for entrepreneurs and investors through the Proof of Concept Center. In addition, this system will foster opportunity in rural east Arkansas communities. This investment is part of a $1,386,967 project.
$500,000 in i6 Challenge funds to the University of Connecticut, Storrs, Connecticut, to fund the Quiet Corner Innovation Cluster (QCIC), which will serve three rural counties in eastern Connecticut and will partner with small- and medium-sized technology and manufacturing enterprises (SMEs) to promote business growth through innovation, enhanced R&D, and updated business capabilities. The QCIC will build the innovation capacity of select SMEs that show the potential to grow through technology advancement and will feature a new proof-of-concept center that will be an integral part of the recently established UConn Tech Park. The center will leverage existing centers of technology excellence, the Office of Technology Commercialization, and the extensive R&D capacity of the University of Connecticut's faculty to co-develop new products and services with rural SMEs, and its SME Engagement Process (SMEEP) will be used to develop targeted growth plans and manufacturing innovation strategies that increase SMEs' technology-based manufacturing capabilities, lead to competitive products and services, stimulate direct job growth, and promote economic development. This investment is part of a $1.5 million project.
$500,000 in i6 Challenge funds to Garden Allies, Seattle, Washington, to fund the development of the Clear Water Innovation Initiative (CWII) to support entrepreneurial business enterprises that focus on clean water products and services. The initiative, led by Innovation Alliance, will create a proof of concept center, virtual cloud-based network of water industry incubators and clusters across the U.S., and an early seed fund to finance entrepreneurial start-ups in the Puget Sound region. This investment is part of a $1,000,080 project.
$500,000 in i6 Challenge funds to the University of Hawaii System, Honolulu, Hawaii, to expand the capacity of the University of Hawaii’s proof of concept and commercialization centers (XLR8UH), to assist entrepreneurial and small business enterprises. XLR8UH was formed as a public-private partnership initiative between the University of Hawaii (UH) and Sultan Ventures (SV) to foster, promote, and grow a culture of innovation and entrepreneurship at UH. The expansion focuses on scaling XLR8UH’s proven efforts statewide, commercializing research developed at the UH, and specific outreach to underserved/ rural communities to other Hawaii Islands. This investment is part of a $1 million project.
$500,000 in i6 Challenge funds to Innovation Works, Pittsburgh, Pennsylvania, to support the AlphaLab Gear, a nationally-ranked hardware accelerator that works to grow manufacturers' revenue by building connections and relationships with early stage innovative hardware startup companies. The accelerator will focus on building the capacity for innovation, entrepreneurship, business growth and expansion in the rural counties surrounding Pittsburgh. This investment is part of a $1 million project.
$500,000 in i6 Challenge funds to the University of Alabama-Huntsville, Alabama, to fund the Growth & Acceleration of Products (GAP) project, a strategic approach to utilize university resources at the University of Alabama in Huntsville (UAH) to bring "shelved" technologies into the marketplace through identification and funding of entrepreneurs and by providing a range of services to convert ideas, research, and prototypes into viable commercial products. The proposed GAP project will identify and foster the growth and acceleration of ideas into viable commercial products by creating a virtual proof-of-concept center. This investment is part of a $1 million project.
$499,999 in i6 Challenge funds to CareerSource Broward, Fort Lauderdale, Florida, to create a pioneering proof-of-concept center at Broward College. The center will focus on increasing the commercialization of new ideas, existing intellectual property and research into viable start-up companies in Broward County. The project will significantly enhance a culture of innovation and high-growth entrepreneurship in the region by seeking out and encouraging individuals and companies how to convert ideas into viable commercial ventures. This investment is part of a $1,155,594 project.
$499,965 in i6 Challenge funds to the University of Wisconsin System, Stevens Point, Wisconsin, to create a Proof of Concept Center at the University of Wisconsin–Stevens Point (WIST), to research and demonstrate the feasibility of commercializing valuable chemicals that can be derived from the residual materials from the production and processing of specialty vegetable crops. WIST will lead this public-private partnership and leverage key players to assist in creating innovative companies. This investment is part of a $1,016,811 project.
$499,751 in i6 Challenge funds to the Virginia Polytechnic Institute and State University, Blacksburg, Virginia, to create CatalyzeVT, a collaboration of the Apex Systems Center for Innovation and Entrepreneurship (CIE), the Institute for Creativity, Arts, and Technology (ICAT), the Office of the Vice President for Research and Innovation (OVPRI), the Office of Economic Development (OED) along with other university, community, and industry partners, which will develop an entrepreneurship and innovation ecosystem in the Roanoke-Blacksburg region. CatalyzeVT aims to foster an ecosystem where innovators and entrepreneurs will be inspired and empowered to collaborate, that strengthens connections between the Virginia Tech and Roanoke-Blacksburg innovation ecosystems, and that secures crucial capital investments for the region. This investment is part of a $1,143,188 project.
$499,720 in i6 Challenge funds to the Telluride Foundation, Telluride, Colorado, to assist in developing and expanding the Southwest Innovation Corridor (SWIC), led by the Telluride Foundation. The purpose of the project is to focus on uniting current nascent efforts to support entrepreneurship and commercialization, to create a purposeful strategy for moving ideas from consideration and development to fundable companies, and creating jobs and sustained economic activity in a geographically disbursed rural area. The SWIC will capitalize on leveraging regional assets – including accelerators, Small Business Development Centers (SBDCs), and Fort Lewis College. This investment is part of a $2,162,060 project.
$498,282 in i6 Challenge funds to the Northeast Ohio Medical University, Rootstown, Ohio, to establish a pharmaceutical-focused proof-of-concept center at the Northeast Ohio Medical University. This Center’s activities will focus on accelerating the commercialization of new pharmaceuticals to applicable markets, the creation of preclinical research protocols, and the development of a commercialization program to stimulate technology commercialization via start-up and technology licensing. This investment is part of a $1,155,868 project.
$495,000 in i6 Challenge funds to BioHealth Innovation, Inc., Rockville, Maryland, to fund the expansion of the Venture Commercialization Model (V-COMM) to build technology development and entrepreneurial practices in the areas of Medical Technology, Vaccines, and BioHealth Cybersecurity within the BioHealth Industry (BHI) of Maryland. This project is led by BioHealth Innovation, Inc., a 501(C)3 non-profit public-private partnership serving Central Maryland (covering 10 counties from the Washington, DC suburbs to Baltimore and its suburbs), the expansion of V-COMM enables BHI to conduct a greater number of reviews of technologies, spur the development of new companies, raise capital, and create jobs. This investment is part of a $990,000 project.
$447,231 in i6 Challenge funds to Oregon State University, Corvallis, Oregon, to expand the capacity of Oregon State University’s National Center for Advanced Wood Products Manufacturing and Design (Center for AWP) for business enterprises that supply engineered wood building products. The Center for AWP plans to support innovators and entrepreneurs in Douglas and other counties throughout Oregon that are struggling with underutilized timber mills and manufacturing businesses, by expanding the market for mass timber, which will drive sustainable timber-based manufacturing in rural Oregon. This investment is part of a $894,462 project.
$390,000 in i6 Challenge funds to the Maine Center for Enterprise Development, Portland, Maine, to fund the Top Gun Rural Accelerator Network Expansion (Top Gun RANE), which will expand the Top Gun platform to increase the number of entrepreneurs to enter the pipeline and to provide added support to Top Gun graduates in order to maximize the number of innovation based companies which successfully commercialize and create stable, high paying jobs. The Top Gun Entrepreneurship program accelerates companies through training, mentoring and networking. With the ultimate goal being to accelerate innovation-led economic development in pursuit of a vibrant innovative economy in a rural state, the Top Gun RANE will (i) support and strengthen Top Gun and expand to another location; (ii) build new onramps to increase the number of businesses entering the pipeline; and (iii) address the needs of Top Gun graduate companies that have not yet fully commercialized their products or services and of companies that are ready to scale. This investment is part of an $843,568 project.
$368,760 in i6 Challenge funds to New Mexico State University, Las Cruces, New Mexico, to fund the Next Generation Entrepreneurship (Next Gen) program, which is focused on student entrepreneurship as a strategy to enhance commercialization of research, regional connectivity, and innovation. This project will take student entrepreneurship programming developed on NMSU's main campus to the university's community college system of four campuses, three of which are located in rural communities and serve underrepresented populations. Next Gen's efforts will help to train a new generation of regional entrepreneurs, connect them with technologies ripe for commercialization, and provide technical assistance and mentoring to facilitate commercialization of these technologies. Next Gen will impact the region and service area through jobs created and retained, new businesses registered, private investment in businesses, progress of ventures through the commercialization pathway, events held, and new products launched by participants. This investment is part of an $873,628 project.
$351,400 in i6 Challenge funds to the Oklahoma Innovation Institute, Tulsa, Oklahoma, to leverage the expertise of Tulsa Research Partners (TRP), a regional consortium led by the Oklahoma Innovation Institute, to create a Community Technology Commercialization Concentrator (CTCC) Portal. The CTCC Portal will accelerate access to scientific resources through a publicly accessible portal, that will result in increased technology commercialization and attract new major investment and research dollars to Tulsa County, Oklahoma. This investment is part of a $710,542 project.
$250,000 in Seed Fund Support Program funds to BioAccel, Phoenix, Arizona, to fund the development of the organizational structure for a venture capital fund to assist early-stage bioscience firms through analysis of syndication network resources, identification and recruitment of fund management professionals, performance of marketing, fundraising, and pipeline development functions, development of an integrated investment ecosystem, performance of diligence and business/technical services, and development of a long-term sustainability plan. BioAccel will launch three seed funds (two focused on the biomedical sector and one focused on health IT and software-enabled medical devices) and create a fully-integrated early-stage investment ecosystem to catalyze additional growth in Arizona's healthcare and biomedical sectors. This investment is part of a $700,795 project.
$250,000 in Seed Fund Support Program funds to EnterPrize Events, Inc., Guaynabo, Puerto Rico, to fund the launch of a seed fund that will provide capital to high-potential, innovation-driven, early-stage ventures in Puerto Rico. The fund will predominantly target science- and technology-based graduates of two startup programs in Puerto Rico (I-Corps Puerto Rico and the EnterPrize competition) and others in the startup ecosystem that are positioned to become part of Puerto Rico's existing and emerging industrial clusters. The fund will enable the development and growth of ventures younger than 3 years old through a rigorous investment process coupled with mentoring and support that will prepare entrepreneurs to raise later-stage capital. This investment is part of a $530,000 project.
$250,000 in Seed Fund Support Program funds to Mahoning Valley Economic Development Corporation, Youngstown, Ohio, to fund a collaboration among the Mahoning Valley Economic Development Corporation, Youngstown Business Incubator, and Tech Belt Energy Innovation Center to form, capitalize, and manage Valley Growth Ventures, LLC, a seed investment fund to support the commercialization of high-growth technology companies primarily within the Mahoning Valley region including Mahoning, Trumbull, and Columbiana counties. This investment is part of a $511,000 project.
$250,000 in Seed Fund Support Program funds to Duke University, Durham, North Carolina, to fund the creation of the Triangle Venture Alliance, a network of Angel Networks at University of North Carolina – Chapel Hill, North Carolina State University, and Duke University. While many institutions have affinity angel investing groups, TVA's model is unique: unlike other angel groups around the country, TVA's angel groups will operate from inside their respective organizations while co-investing from a philanthropic pool that resides inside the University. By linking individual angel networks, TVA will create an entity with more efficient operations, greater critical investing mass, and greater bandwidth and expertise with which to diligence prospective deals. This investment is part of a $523,857 project.
$250,000 in Seed Fund Support Program funds to Ben Franklin Technology Partners of Southeastern Pennsylvania, Philadelphia, Pennsylvania, to fund an effort to create, develop, and launch the Greater Philadelphia Impact Partners, a seed fund that will invest in impact-oriented, innovation-based startups with high potential for growth. Impact companies operate to create profit and address specific social or environmental issues, and as described below, the development of the impact economy has been the focus of planning and development in the Greater Philadelphia region with the engagement and participation of a wide range of leaders from the public, private and investor communities. Impact Partners will provide needed capital and technical assistance and support to help companies grow and commercialize their products. Companies receiving investments from the Impact Partners will have demonstrated the potential for high-growth and will include targets for job creation. This investment is part of a $512,000 project.
$250,000 in Seed Fund Support Program funds to Coastal Enterprises, Inc., Wiscasset, Maine, to fund the assessment, development, capitalization, and launch of the Natural Resource Business Seed Capital Fund. Through this new statewide fund, focused primarily on rural Maine, CEI will make equity investments in young farm, food, fisheries, and bio-based businesses with the potential for high growth, filling a critical gap for early-stage funding that these businesses need in order to grow. Natural resource businesses in Maine constitute a large cluster poised for innovation-based growth. CEI's current portfolio includes high-growth, job-creating firms that provide products and services locally but that also export outside of Maine and outside the country. By supplementing existing loan products with a seed fund, CEI will create needed investment options for new and expanding businesses that face a critical financing gap during the startup and scaling phases. This investment is part of a $500,000 project.
$249,981 in Seed Fund Support Program funds to the Global Center for Medical Innovation, Inc., Atlanta, Georgia, fund the Global Center for Medical Innovation (GCMI) to increase the availability of funding for early-stage companies and to maximize the opportunities for follow-on private funding through the "valley of death" by investing in companies with diverse teams that are solving real problems that investors and potential customers are facing. GCMI will capitalize a medtech seed fund and implement an accelerator program to support startup companies in the Southeastern United States, with a particular emphasis on the funding of diverse startup founder teams. Specifically, GCMI will launch two efforts: (1) raise an initial $5,000,000 seed fund to launch a medtech accelerator at GCMI; and (2) establish an education and mentor program to encourage more (and build a pipeline of) female founders of medical technology companies. This investment is part of a $509,635 project.
$248,200 in Seed Fund Support Program funds to the Illinois Science and Energy Innovation Fund, Chicago, Illinois, to fund energy industry innovation and economic growth in the Midwest through the creation of a seed fund that will make direct equity investments in startup companies and manage a portfolio of programs that provide technical assistance to the regional energy innovation ecosystem. Through this effort, the Energy Foundry aims to create jobs and accelerate economic growth by expanding the pool of investment capital for a market that is currently underserved, i.e., energy startup companies. This investment is part of a $818,200 project.