UC Santa Barbara has received $2.2 million in one-time funding, designated specifically to boost research innovation and spur economic development, from the state of California. The $2.2 million will, among other things, go toward the creation of an on-campus incubator to accelerate the growth of the tech spinoffs generated by the campus’s Technology Management Program (TMP).
“The Garage Startup Incubator will fill an important gap in the local entrepreneurship ecosystem by continuing the development of early entrepreneurs as they transition from the academic environment to the real world,” said David Adornetto, TMP entrepreneurship program director. The facility, he said, will provide much-needed support and education for new entrepreneurs — including a summer accelerator — during the exciting and often somewhat uncertain time prior to the market launch of their business.
By Sonia Fernandez, Writer, The UCSB Current