U News 1 | WashU in St. Louis launches new program to help its start-ups
A Professor at North Carolina State University has been awarded the "2024 Millennium Technology Prize" and $1 million in Euros.
From Washington University in St. Louis:
A new funding program for Washington University (WashU) in St. Louis-affiliated start-ups focuses on strengthening the St. Louis region.
The WashU Venture Network Follow-on Investments is a joint effort between WashU’s Skandalaris Center for Interdisciplinary Innovation and Entrepreneurship and the “In St. Louis, For St. Louis” initiative. It will award up to $150,000 each year to companies with WashU ties that previously have been awarded funding through Arch Grants, the local nonprofit that awards equity-free grants to start-ups. The goal is to support start-ups with a high probability of remaining in St. Louis after the grant period is complete.
“WashU’s commitment to our region includes investing in the remarkable talent we attract to St. Louis. We want to see more WashU entrepreneurs stay here, grow their businesses and contribute to a vibrant regional economy,” Chancellor Andrew D. Martin said. “By investing in the entrepreneurs who are generating jobs, we are supporting new pathways to economic mobility for people in our region.”
The Skandalaris Center’s WashU Venture Network staff and students will make funding decisions. All WashU-based companies previously named as Arch Grant winners will be eligible and considered each cycle; there is no application process.
From North Carolina State University:
North Carolina State University Professor B. Jayant Baliga has been awarded the “2024 Millennium Technology Prize” for his work on the invention, development, and commercialization of insulated gate bipolar transistors (IGBTs), which play a critical role in energy efficiency for technologies worldwide. The prize, which comes with a €1 million award, is the most prestigious international award focused on recognizing technological innovation.
The IGBT is an energy-saving semiconductor switch that controls the flow of power from an electrical energy source to any application that needs energy. The IGBT improves energy efficiency by more than 40 percent in an array of products, from cars and refrigerators to light bulbs, and is a critical component enabling modern compact cardiac defibrillators.
The IGBT has reduced global carbon dioxide emissions by over 82 gigatons (180 trillion pounds) over the past 30 years. This is equivalent to offsetting carbon dioxide emissions from all human activity for three years, based on average emissions of the past 30 years.
From Cornell University:
Empire State Development (ESD) and Cornell University’s Center for Regional Economic Advancement (CREA) have announced the 20 finalists selected to take part in year six of Grow-NY, a business competition focused on enhancing the emerging food, beverage, and agriculture innovation cluster in upstate New York. Winning companies will be required to make a positive economic impact in the Grow-NY region, which comprises 22 counties located in Central New York, the Finger Lakes, and the Southern Tier regions.
The finalists were selected from an applicant pool of 312 start-ups from 50 countries, including Canada, the United Kingdom, and Italy. Domestic teams also showed strong interest, with 26 states represented in the applicant pool, including 89 entries from New York. Forty-four percent of the applicants included a female founder, and 60 percent included a founder from a culturally diverse group.
During the Grow-NY Summit November 6 and 7 in Ithaca, the 20 finalists will compete for $3 million in prize money awarded to seven winners. This includes a $1 million top prize, two $500,000 awards, and four $250,000 prizes.
From the University of Illinois Urbana-Champaign:
The Carle Illinois College of Medicine (CI MED) at the University of Illinois Urbana-Champaign is leading a first-of-its-kind global network to revolutionize medicine through engineering-based solutions to health problems across the globe.
Known as the Global Consortium of Innovation and Engineering in Medicine, it is an international public-private-government collaborative that aims to accelerate the development of innovative solutions that impact human health by leveraging expertise from across disciplines and geographic boundaries.
Through the combined expertise of medical and engineering schools, universities, researchers and students, industry and government leaders, philanthropists, and foundations, this collaborative is well-positioned to drive innovation in medicine and medical education. The consortium draws on the same vision that led to the formation of Carle Illinois College of Medicine in 2015, as the world’s first engineering-based college of medicine. Integrating the interdisciplinary lens of technology, engineering, innovation, and medicine, the CI MED model seeks to better train the next generation of physician-innovators to create impact in local communities and across the globe.
From Marshall University:
The Marshall Innovation District is what the university refers to as “a visionary $200+ million initiative at the nexus of Downtown Huntington and Marshall University.”
Groundbreaking occurred in mid-May for the first building, the 73,000-square-foot Institute for Cyber Security that will focus on advanced cybersecurity research and partnerships with private and federal sectors. Other facilities include the:
- Marshall Advanced Manufacturing Center, a 45,000-square-foot facility that supports product design and scaled production for manufacturing and engineering companies; and
- Innovation Resource Hub which “drives innovation by connecting entrepreneurs with appropriate resources to transform ideas into impacted ventures empowering entrepreneurs to navigate business complexities.”
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