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The University Tech/Startup Gap Fund and Accelerator Summit
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- Breakout and group discussions on common challenges
- Corporate and Investor partnering panels
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A technology incubator in Delaware is getting support from the Small Business Administration (SBA).
The University of Delaware’s Blue Hen Proof of Concept program launched in 2016. It connects First State tech startups with funding streams if they can prove their technology has a commercial application. The program has so far given more than $1 million to 25 tech startups.
The program is run by Horn Entrepreneurship at UD. Christina Pellicane is Director of Commercialization Programs.
“A lot of what we do is drive them towards SBIR and STTR funding, which is a federal funding source,” said Pellicane. “So we proposed to the Small Business Administration that we’ll do even more of that and support high tech and deep tech entrepreneurs to submit those proposals.”
Blue Hen Proof of Concept is one of 60 tech-based accelerators nationwide getting a $50,000 grant from the SBA to support new STEM-based businesses.
“A large part of what this specific grant will do will help the maturing startups we’ve incubated for three years,” said Pellicane. “We’re now needing more sophisticated mentors to partner with these startups. So the SBA funding will help bring in those high-quality mentors and help support the growing startup.”
Blue Hen Proof of Concept startups include several UD chemical startup companies and company marketing a device that reduces tremors for Parkinson’s patients.
Last year, startups in the program generated more than $1 million in sales and received more than $10 million in grants or investment.