File photo
File photo
The U.S. Department of Commerce’s Economic Development Administration (EDA) recently awarded $35 million in entrepreneurship grants to 52 separate organizations, with $1.5 million going to Rice University.
Rice was one of 29 institutions to receive a 2020 Venture Challenge Grant, and one of only seven to receive the top amount of $1.5 million, according to the EDA.
The funds awarded to Rice will be used in the creation of an accelerator hub that unites the strengths and experience of three complimentary accelerator programs. Those programs are the Ion Smart and Resilient Cities Accelerator, the Rice Alliance CleanTech Accelerator, and DivInc Accelerator.
“Backed by Rice University, a world-class institution, and the City of Houston, the Accelerator Hub is uniquely positioned to leverage these urban development commitments to scale sustainable ventures,” the EDA said.
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