This story by News Editor Gregory Seay originally appeared in in the Hartford Business Journal, November 7, 2016.
The University of Connecticut is one of 24 U.S. colleges and universities sharing in more than $2.5 million in federal grants to promote innovation in and strengthen their regional economies, authorities say.
U.S. Secretary of Commerce Penny Pritzker announced Monday that Connecticut’s flagship university will receive $116,667 as one of the winners of the U.S. Economic Development Administration’s (EDA) 2016 university center economic development program competition.
EDA is providing $2,518,373 in grants to the 24 schools in 16 states and Puerto Rico to run five-year programs that will leverage university assets to promote American innovation and strengthen regional economies.
UConn’s grant will support its Connecticut Manufacturing Simulation Center (CMSC), which will work to increase the capabilities of small and medium sized enterprises (SMEs) in computational modeling and simulation technologies as a means to cultivate innovation, develop a high-skilled workforce and expand regional businesses.
“EDA’s University Center program marshals the resources located within colleges and universities to support economic development strategies in regions in chronic and acute economic distress,” said Secretary Pritzker. “The investments announced today will allow these higher education institutions to build the public-private partnerships that are so vital to helping America stay innovative and competitive in the 21st century.”
Announced in March, this year’s competition was open to higher education institutions and consortia of accredited institutions of higher education in states supported by EDA’s Chicago and Philadelphia regional offices. UConn is covered by the Philadelphia office.
It funds initiatives that are focused on advancing regional commercialization efforts, entrepreneurship, innovation, business expansion in a region’s innovation cluster, and a high-skilled regional workforce.
Other schools in the Philadelphia region drawing $116,667 grants: University of Southern Maine; University of Puerto Rico; Becker College, Worcester, MA.; Delaware State University; Marshall University; Penn State; Rutgers; State University of New York at Albany; University of Maryland-College Park; University of Rochester, in New York; and Virginia Tech.