The National Science Foundation has donated $ 15 million to Princeton and other partner universities in the Northeast to create a regional entrepreneurship innovation center that aims to empower startups in healthcare, energy and environment, computers, artificial intelligence, Promote robotics and other fields. The hub will also work to promote more diversity in the startup world.
One of five new hubs the National Science Foundation announced this week, the network of universities, which will share a physical space near the Princeton University campus, is being created with the aim of increasing the economic impact of the federal government Accelerate funded research while building skills and opportunities for researchers from diverse backgrounds, including those historically underrepresented in entrepreneurship.
Princeton will be the leading institution in the new network. The University of Delaware and Rutgers University will be partner institutions. The hub will include five initial subsidiaries: the New Jersey Institute of Technology, Rowan University, Lehigh University, Temple University, and Delaware State University. The hub will add new partners every year.
“Princeton is excited to lead this initiative to foster the talent and dynamism of researchers in our region,” said Christopher Eisgruber, President of Princeton University. “I am particularly pleased that the hub will support those who have faced obstacles in the past and expand the social impact of new discoveries and innovations.”
The hub will provide entrepreneurial training, mentoring, and resources to enable researchers to create startup companies that convert laboratory discoveries into breakthrough products and services, with an emphasis on understanding the needs of potential customers, researching industrial processes and practices, and the Confronted the challenges of creating successful businesses based on scientific discoveries.
“Rutgers is excited to partner with us to create this center that speaks both of our region’s excellence in scientific research, focusing on our country’s most pressing challenges, and of its incredible diversity,” said Jonathan Holloway, President of Rutgers University. “This will help us give a new generation of researchers a chance and fuel the growth of our innovation ecosystem.”
The program is based on the lean startup methodology, where innovators quickly iterate their products and business plans based on customer feedback and market demands. Delaware State University, a historically black university, will spearhead the hub’s efforts to establish new partnerships with institutions that serve minorities.
“The University of Delaware is deeply committed to groundbreaking research and has a successful history of moving these discoveries out of our laboratories to fuel businesses and other ventures, so we are excited to be partners in the NSF I-Corps Northeast Hub “Said Dennis Assanis, President of the University of Delaware. “This initiative will open doors for underrepresented populations and connect our diverse community of innovators with others across the region to benefit our entire economy and society.”
Rodney Priestley, Vice Dean of Innovation at Princeton University and co-founder of several startups, becomes co-director of the hub. Julius Korley, director of entrepreneurship and strategic partnerships at the University of Delaware’s College of Engineering, will co-lead the hub. Princeton and its two partner institutions, Rutgers University and the University of Delaware, will bring together entrepreneurship lecturers for training programs, hire mentors, and offer entrepreneurship programs for Kory teams applying to participate in hub activities.