State of Delaware, DuPont and University of Delaware partner to form Delaware Innovation Space, Inc.
WILMINGTON, Del. – Governor John Carney on Monday announced the creation of the Delaware Innovation Space, Inc. – a nonprofit public-private partnership established by the State of Delaware, DuPont, and the University of Delaware that will catalyze the entrepreneurial growth of new science-based businesses and ventures in Delaware.
The Delaware Innovation Space will be headquartered at the DuPont Experimental Station research campus in Alapocas.
Formed as a separate nonprofit organization and legal entity and governed by an independent board, the Delaware Innovation Space will operate as an incubator to accelerate and drive new business growth, and as a research institute for the advancement of science in collaboration with the diverse scientific talent base in Delaware.
Each founding partner will contribute assets in support of the formation of the nonprofit, and two members to its initial Board of Directors.
“Delaware’s economy remains in transition, and we should do everything we can to support innovation, and partner with the private sector to drive business and job growth,” said Governor Carney. “DuPont and the University of Delaware have long histories of innovation, and remain crucially important to the future of our economy and our state. This partnership will draw upon the resources of those institutions to help science-based businesses grow here in Delaware, and connect Delaware’s students to the work of our most talented innovators.”
“The Innovation Space at the Experimental Station shows that DuPont, the state and the University of Delaware are committed to creating a nurturing environment for business to grow and thrive,” said U.S. Senator Tom Carper. “Delaware may be small, but we are nimble. We have all levels of government partnering with the private and non-profit sectors to find ways to make Delaware a more attractive place to do business. The Innovation Space is another example of a great idea that came from the power of partnerships.”
“This building will provide Delaware with what startups in our region need the most, high quality and market rate lab space,” said U.S. Senator Chris Coons. “In the Senate, I have worked hard to give science based early stage companies tools they need, but ultimately Delaware needs more lab space like this in order to help local companies grow and for us to attract other companies from outside of our state. I am thrilled to see this building come to fruition, and excited to see what technologies emerge from this site.”
“It’s exciting to see what we can accomplish when we come together, and I’m grateful for the University of Delaware and DuPont for their continued support of a brighter future for Delaware,” said Congresswoman Lisa Blunt Rochester. “Not only will this partnership promote economic growth and attract new businesses, it will also provide students with exciting opportunities to get hands on research experience in growing fields.”
“DuPont’s vision for the Experimental Station is to harness the power of collaboration to drive innovation,” said Doug Muzyka, DuPont Senior Vice President and Chief Science and Technology Officer. “The Delaware Innovation Space will accelerate new business growth and give entrepreneurs, scientific leaders, and businesses access to best-in-class talent, resources and the culture of the Experimental Station.”
“UD fosters a strong, productive and longstanding relationship with the State and DuPont that advances scientific inquiry, strengthens our economy and improves the lives of Delawareans,” said Dennis Assanis, University of Delaware President. “The Delaware Innovation Space represents a new and exciting chapter in that partnership, one that will benefit our community for many more decades ahead.”
The partnership of the State of Delaware, DuPont and the University of Delaware at the Experimental Station not only will fuel growth of science-based businesses; it will spur job creation, creativity, and develop, attract and retain science talent in Delaware.
The Delaware Innovation Space will focus on key Science, Technology, Engineering and Mathematics (STEM) areas that align with strengths both DuPont and UD bring to the venture. They include industrial biotechnology, renewable energy, advanced materials, chemical ingredients, nutrition and healthcare to help strengthen Delaware’s presence as a leader in those areas.
It also will provide education to entrepreneurs and startups, help accelerate the formation of new businesses, and connect Delaware’s students with the work of innovators and entrepreneurs.
The Delaware Innovation Space will be located in a dedicated building (E500) at the Experimental Station. It will include approximately 100,000 square feet of innovative laboratory and office space comprised of a mix of large shared lab spaces and open office areas in addition to private laboratory and office suites. Delaware Innovation clientele also will have access to other common spaces and leveraged capabilities at the Experimental Station.
Partner contributions include:
State of Delaware:
- $5 million in startup funding support over 3 years from the Delaware Strategic Fund
- Key support from public stakeholders in attracting companies to Delaware
- $1.25 million in startup funding
- Modern laboratory and office building at the Experimental Station, valued at approximately $15 million today
- Laboratory equipment valued at up to $2 million
- Nonprofit set-up costs
University of Delaware:
- $1.5 million in startup funding over three years
- Student internships
- On-site workshops and seminars led by UD faculty members
- Grant writing support