$3 million in federal grants go to Delaware Innovation
The Delaware Innovation Space is getting a $3 million boost from the federal government. The Innovation Space is a non-profit facilitating science-based entrepreneurs who are trying to get their businesses off the ground.
The startup incubator opened this spring in a building on DuPont’s Experimental Station campus in Wilmington.
Innovation Space President and CEO Bill Provine says the new dollars will go towards developing the building to facilitate multiple science-based startups.
“The very earliest stage of entrepreneurs—ones that may only need one lab bench, or access to one fume hood to develop their technology that’s the framework for their companies—we want to make sure we have those spots, as well as people who need multiple laboratories, and with the degree of privacy needed between the individuals,” said Provine.
The federal grant adds to a $5 million investment from the State of Delaware, and more than $1 million each that DuPont and the University of Delaware contributed to this private-public partnership.
“We’re trying to create the next Dupont, the next Gore, the next Incyte. These are science rich driven companies that come with great market potential with their technologies, and great staying power. These are companies that stay around for decades, and of course, Dupont for hundreds of years,” said Provine.