August 30, 2012

Gillibrand Announces Nearly $350,000 Federal Investment For University At Buffalo Innovation Hub

Investment From EDA Will Help Create, Implement UB Innovation Hub

Washington, D.C. – U.S. Senator Kirsten Gillibrand today announced a federal grant worth $349,565 to help create and implement the Innovation Hub (iHub) at the University at Buffalo. The investment comes from the U.S. Economic Development Agency (EDA).

The grant for the iHub is part of a $1.4 million investment the EDA is making in projects across New York State.

“New York State is poised to lead in the high-tech economy of the future,” Senator Gillibrand said. “With these investments, we can turn scientific breakthroughs happening right now at our world-class universities into new businesses and new jobs, and build key infrastructure to lay the foundation to attract more businesses and strengthen manufacturing, sparking a powerful economic engine fueled by our own innovation right here in Western New York.”

“These $1.4 million in EDA investments in New York are examples of the Obama administration’s commitment to supporting economic growth in local communities,” said Acting U.S. Commerce Secretary Rebecca Blank. “The grants announced today will bring new businesses to Rochester, accelerate bringing ideas to market in Buffalo, and provide a facility for training workers in fields that support high-quality, good-paying jobs.”  

Senator Gillibrand has been a leading advocate for the America Innovates Act, legislation to support initiatives like the iHub across the country by investing in research that can be commercialized into new high-tech products, start new businesses and support new high-tech jobs.

Specifically, the EDA grant for the University at Buffalo will be used to support the creation and implementation of the iHub, a high-tech accelerator program at the University at Buffalo to advance development and commercialization of innovation emerging from Western New York campuses and research laboratories to strengthen the regional economy with sustainable growth opportunities.