Delaware Innovation Space received $3 million from the National Development Council to continue transforming science-focused start-ups into leading companies. The start-up innovation loan program was established by Discover Bank and includes an additional $225,000 operating grant.
“Delaware is a great place to start a business and Discover Bank is proud to help Delaware Innovation Space create opportunities for young businesses to incubate and thrive,” said Discover Bank President James J. Roszkowski.
The program supports more than 20 start-up companies and will now be able to support infrastructure improvements, equipment investments, enhance operational performance, and job growth in the health care, energy, nutrition, industrial biotech industries, and more.
“The work of Delaware Innovation Space will enable more science-driven start-ups to flourish and ultimately expand the economic base in Delaware,” said Delaware Innovation Space President and CEO William D. Provine.
Delaware Innovation Space was first introduced in 2017 as a catalyst for economic growth and innovation in Delaware. Since then, it has continued to create opportunities for entrepreneurs and taken part in job growth throughout the state.