Cal Poly secures $1 million federal grant for innovation hub – Daily Bulletin

Posted on July 6, 2021 by Design in Design Innovation | 0 Comments

The federal government has allocated $1 million to Cal Poly Pomona for the development of an entrepreneurial and social hub for startups in the Inland Empire, Rep. Norma Torres, D-Pomona, announced last week.

The university’s Bronco STEA2M Innovation Hub will provide resources, support and training opportunities to help entrepreneurs and small and family-owned businesses advance their goals. Cal Poly plans to locate the hub in downtown Pomona, according to a news release.

Torres, a member of the Financial Services and General Government Appropriations Subcommittee, which funds multiple government agencies, including the Small Business Administration, secured the federal dollars. The innovation hub will bolster local economies throughout the Pomona Valley and Inland Empire, Torres said.

“Not only will local students have access to exciting new professional development, but Inland Empire businesses and entrepreneurs will benefit from new supports and a highly-trained workforce,” Torres said in the news release.

Some notable components of the hub will include workshops, training and mentorship, access to co-working spaces, including fabrication equipment for tinkering and prototyping ideas. There will also be a network of resources and collaborators for individuals to tap into, according to the university.

“By investing in programs like the STEA2M Innovation Hub, we not only provide immediate support for the small and family-owned businesses so central to our communities, but we also open the doors of opportunity for the coming generations of innovators and entrepreneurs looking to build on their new and exciting ideas,” said Cal Poly Pomona President Soraya M. Coley in the news release.

With Pomona’s unemployment rate growing from 4.9% in January 2020 to 14.7% in January 2021, the university expects the hub to play a significant role in strengthening and diversifying workforce development in the local and regional economy.

“This project will harness Cal Poly Pomona’s national leadership in career-ready education to empower our region’s innovators and entrepreneurs,” Conley added.

News of the announcement comes two weeks after Cal Poly was identified as one of the 286 organizations sharing $2.7 billion in grants awarded by philanthropist MacKenzie Scott, who announced a $40 million donation to the university. Scott’s gift is the largest individual donation in the school’s history.