Delaware Innovation Space startups get a $3M boost - Technical.ly Delaware

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Apr. 25, 2019 5:26 pm

Delaware Innovation Space startups get a $3M boost

Biotech continues to grow in Delaware with a large national grant.

Delaware Innovation Space.

(Courtesy photo)

Biotech — and other science industries such as renewable energy and chemistry — continues to be strong in Delaware.

Just last month, we told you about Delaware Innovation Space’s (DIS) First Fund program for science startups. The Wilmington accelerator, located at the Experimental Station campus, awards up to $75,000 in funding (in the form of  a 36-month convertible note to be used exclusively to access DIS resources) to young startups in the areas of healthcare, industrial biotechnology, advanced materials, nutrition, renewable energy and chemical ingredients.

Now, DIS is on the receiving end, as it has been awarded $3 million from the National Development Council to continue its programs for science-focused startups, plus an additional operating grant of $225,000 from Discover Bank.

DIS was Launched in 2017 through a partnership between DuPont, the University of Delaware and the State of Delaware. In addition to First Funds, it offers:

  • A Business Incubator and Accelerator with 100,000 square feet of lab space, work space, mentoring and business resources
  • The DuPont FastPass, where startup companies can receive up to $50,000 in funding, access to facilities and key insights and collaboration with DuPont
  • A Virtual Incubator Program open to startups nationwide looking for support in grant application assistance, business coaching, mentoring and venture promotion
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