The state of California is accepting applications for its new funded Innovation Hub program to incubate and accelerate technology development and companies in underserved regions and communities.
Unlike previous iHub efforts, the new iHub2 program comes with $250,000 in funding to develop and coordinate local efforts in the first year of a five-year commitment.
“We are looking for clustered, regional models built on clusters with specific verticals,” said Tara Lynn Gray, director of the Office of the Small Business Advocate, a division of the Governor’s Office of Business and Economic Development, or GO-Biz.
The application period is open from Oct. 11 through Nov. 15 for a total of 10 new iHub2 designations. Potential applicants could include nonprofits, public, private or municipal economic development groups and Small Business Development Corporations.
The funding will allow sponsor groups to develop plans and bolster existing programs to build local business ecosystems to support science and technology startups, particularly for women and people of color as well as for underserved geographies and regions, Gray said.
The iHub2 sponsor groups will also serve as a bridge between local innovation ecosystems and state technical assistance, resources and networks.
Additional information is available online.
CalOSBA is available to provide application-related technical assistance via e-mail at osba@gobiz.ca.gov. There will be a Zoom webinar for interested applicants on Oct. 21 at 10 a.m. Interested applicants can register for the webinar here.
