The state government of California today gave a total of $22m in one-time funding to University of California system as part of its Assembly Bill 2664, known as the Innovation and Entrepreneurship Expansion.
The bill, authored by assembly member Jacqui Irwin and signed by governor Jerry Brown, provides each of University of California’s 10 campuses with $2.2m in funding to support infrastructure programs as well as student and faculty innovation and entrepreneurship.
Each campus is executing long-term plans suited to its strengths and the needs of local and regional communities, including expanded lab and incubator capacity, accelerated spinout and startup launch and growth, increased networking, mentoring, internship and entrepreneurship education opportunities.
Jacqui Irwin said: “The UC system is the gold standard for research and innovation. That is why I am proud to have authored AB 2664.
“The bill’s funding will help convert UC research into products that benefit society. It will lead to more startup businesses and local economic growth.
“Whether it is an artificial kidney or water conservation tool, I look forward to seeing how each campus will tailor these grants to bolster its most promising research.”
