The $300,000 grant will go toward the expansion of the University’s Minnesota Innovation Corps
Student entrepreneurs at the University of Minnesota now have a chance to see their ideas come to life thanks to grant money that the university recently received. The $300,000 National Science Foundation I-Corps Site award will allow science and engineering students and staff to test their ideas in the marketplace. Dollars will go toward the University’s Minnesota Innovation Corps, a program that works to accelerate the development of new technologies that grow businesses. The grant money will also allow up to 30 entrepreneurial teams to receive roughly $3,000 in seed funding.
“The NSF award provides a unique opportunity for the university to be part of a nationwide innovation network of shared resources, knowledge and entrepreneurial expertise,” Mostafa Kaveh, the University’s College of Science and Engineering associate dean and lead on the I-Corps grant, said in a statement. “Ultimately, this program will not only benefit our student entrepreneurs, but it will help to advance Minnesota’s innovation economy and develop the next generation of innovation leaders in the state.”
According to the statement, the University of Minnesota is one of 14 other colleges to receive the award.