Delaware Money Moves: The NIH grants $3.2 million to I-RED project

Starting today, we are making Money Moves, a regular monthly feature in our Philly, Baltimore, DC and Pittsburgh markets, a Delaware feature as well. This series highlights grants, investment deals and company growth commitments in the state. 

Since Crunchbase and other resources categorize a lot of Delaware-incorporated companies that are physically elsewhere as Delaware companies, finding local investment and deals can be challenging. So, if you’re an investor or a startup that’s made a deal for any amount, be sure to let us know! Even if you don’t have a press release, a simple email to delaware@technical.ly with the information is fine. 

NIH grants $3.2 million to Delaware trio

One of the biggest money-related stories of the month is the $3.2 million grant from the National Institutes of Health (NIH) for I-RED University, an online entrepreneurship education platform for scientists. The grant was awarded to Newark company InSiteHub, the University of Delaware and the Delaware Sustainable Chemistry Alliance. 

$7 million for child development

Delaware Technical Community College’s $7 million investment in a new child development center on its Stanton campus broke ground this week. The project was funded through the federal American Rescue Plan.

More Delaware Money Moves:

• Technical.ly recently reported on a $2 million collaboration between Healthy Communities Delaware, the State of Delaware, Discover, Nemours, DuPont and Highmark that will grant funds for community improvement projects to 35 organizations up and down the state.
• Ballydel Technologies, a research and development firm founded in 2018 and based out of the Delaware Innovation Space, was approved for a state grant of $50,000. The grant will help the company develop technology solutions that address the counterfeit drug trade, including a unique ID tracking system for the world’s vaccine supply.
• The Red Cross of Delmarva, located in Wilmington, received a grant of $25,000 from WSFS CARES to support its new Wilmington Blood Center.