The National Science Foundation established a new research-based entrepreneurship consortium out of several local universities with a $15 million grant.
The $15 million will be allocated over five years to support entrepreneurial training, mentorship and resources for researchers at each member school to create startups from their work. The NSF Innovation Corps Northeast Hub will include Philadelphia-area schools like Temple University, Rowan University and the University of Delaware.
The Northeast hub, one of five hubs nationwide, will be led by Princeton University. Rutgers University and the University of Delaware will be partner institutions. Rowan, Lehigh University, Temple, Delaware State University and the New Jersey Institute of Technology will be affiliates, and the Innovation Corps seeks to add new members each year.
Research and entrepreneurship in the Northeast hub will revolve around health care, pharmaceuticals, energy, the environment, fintech, agriculture, communications and digital information to capitalize on the strengths of the Pennsylvania-New Jersey-Delaware region. The program will use the “lean startup” methodology to ensure quick iterations of products and business plans.
Several local schools have previously participated in the Innovation Corps program, which started 10 years ago. Rutgers, the University of Delaware and NJIT have provided entrepreneurship training to researchers when participating.
The Innovation Corps will put a focus on supporting diverse researchers and founders. Delaware State University, a historically Black university, will help lead the hub’s work to build new partnerships with minority-serving institutions.
“The future of higher education in America depends heavily on our ability to become centers of innovation that not only conduct significant research, but transform that research into deep technology ventures that have lasting impact on the nation’s most critical challenges,” said Delaware State President Tony Allen in a statement. “As one of the first Historically Black College or Universities within I-Corps, we are especially gratified to be able to use this opportunity to open up more opportunities for students of color across the region.”
Julius Korley, the director of entrepreneurship and strategic partnerships at the University of Delaware’s College of Engineering, will co-direct the Northeast hub alongside Rodney Priestley, vice dean for innovation at Princeton.
Faculty leads at local universities include:
- Delaware State University: Michael Casson; dean of the College of Business, director of the University Center for Economic Development and International Trade, director of the Economic Development and Leadership Institute
- Lehigh University: John Coulter; professor of mechanical engineering, senior associate dean for research for the P.C. Rossin College of Engineering and Applied Science
- Rowan University: Nidhal Bouaynaya; associate dean for research and graduate studies
- Temple University: Faculty lead has not been determined
- University of Delaware: Daniel Freeman; associate professor of marketing, director of the Horn Program in Entrepreneurship
