The Rutgers Food Innovation Center (FIC), a food business incubation and economic development program of the New Jersey Agricultural Experiment Station, has been recognized by the U.S. Small Business Administration (SBA) as a winner of its first Growth Accelerator Fund competition.
The FIC is the only recipient from New Jersey to earn this award and will receive a cash prize of $50,000 to create the infrastructure for developing this new accelerator program. The winners will be honored in Washington, D.C., by the SBA, in partnership with the Global Accelerator Network, at a Fly-In Day in November, which is designated National Entrepreneurship Month.
“We are very excited to be selected by the SBA for this award”, said Lou Cooperhouse, director of the Rutgers Food Innovation Center. “We have been recognized globally for our economic development impacts and now we will be able to take our Center to an even higher level – by creating linkages between our clients and the funding community.”
“This award is indicative of the commitment by Rutgers in regional economic development”, said Margaret Brennan-Tonetta, associate vice president of economic development at Rutgers. “The Rutgers Food Innovation Center is a model for university public-private partnerships that generates significant economic impacts for the state. The new Growth Accelerator program that the center will establish with this funding will dramatically increase these impacts and maximize its benefits to the food industry.” [Read more...]