UCSB receives $2.2 million to propel entrepreneurship and economic development
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 funds are a share of a total $22 million investment, to be divided among the UC system’s 10 campuses, that comes in the form of Assembly Bill 2664, the Innovation and Entrepreneurship Expansion Initiative authored by Assemblywoman Jacqui Irwin, D-Thousand Oaks, and signed last fall by Gov. Jerry Brown.
AB 2664 requires the University of California to “make one-time expenditures for activities to expand or accelerate economic development in the state in ways that are aligned with other efforts to support innovation and entrepreneurship.” With the AB2664 funds, CNSI will significantly expand its Technology Incubator, doubling the footprint and adding more fume hoods and wet-lab capabilities. CNSI will also establish a Maker-space facility to enable rapid prototype development. A large variety of equipment will be added, including an electronics assembly and testing bench, small-scale metal and wood working tools, and 3D printers. These facilities will support local startups and be available to students affiliated with UCSB’s innovation and entrepreneurship programs such as TMP’s New Venture Competition, and the Bren School’s Eco-E program. The Center for Science and Engineering Partnerships (CSEP) will be leading a needs assessment project on the Tri-Counties entrepreneur community that, in partnership with CNSI, TMP, Bren, and the Office of Technology and Industry Alliances, will inform the implementation of expanded mentorship and professional development activities. SEED-SB expanded activities will focus on increasing local entrepreneur creativity and innovation to support the diverse startup community on the Central Coast.