帝王会所

帝王会所鈥檚 internationally-renowned business incubator 鈥� the Innovation Center 鈥� has been awarded grants from both the Appalachian Regional Commission and the U.S. Department of Agriculture to expand business support provided to technology startups in the science industry sectors.

鈥淏ecause of the need for solutions to the problems created by the current pandemic and other market factors, demand for lab space from biotechnology and life science companies is on the rise,鈥� said Stacy Strauss, director of the Innovation Center.

The $250,000 award from the Appalachian Regional Commission, combined with a previously won U.S. Economic Development Administration award of $1.15 million, will add three additional biotechnology laboratories to the Innovation Center鈥檚 seven labs, as well as improve the building鈥檚 infrastructure.

In addition to supporting the retention of more than 300 jobs created by Innovation Center clients, the infrastructure improvements are expected to result in the creation of 10 new businesses and 100 new jobs within three years of project completion. According to the project鈥檚 feasibility study, it is expected that these new jobs will pay a higher-than-average wage for the region.

The U.S. Department of Agriculture has also awarded $99,186 to the Innovation Center to provide business development and technical assistance to science and biotechnology sector clients.

鈥淣ewly launched and young ventures in these sectors require business coaching, advising, and regulatory/sector expertise to scale and achieve market success,鈥� said Strauss. The Innovation Center provides business development guidance, advice on compliance with regulatory oversight, and insight on proper biotechnology equipment use and maintenance. Businesses in these sectors also are coached on the creation of laboratory protocols and procedures to ensure safety, product sterility/potency and adherence to standards, as well as staff training.

鈥淲e are incredibly grateful for the confidence and commitment demonstrated by the ARC and USDA with these awards,鈥� Strauss said. 鈥淲e remain focused on positive economic development outcomes and steadfast in our mission to work in support of the region鈥檚 entrepreneurs and small businesses.鈥�

The Innovation Center is currently accepting new clients. Entrepreneurs and startups who have an idea for a new business are encouraged to reach out for assistance. More information can be found at .

In 2019 alone, the Innovation Center supported 335 jobs that generated an estimated $22 million in employee compensation in Athens County and an estimated $11 million in economic output, according to its published economic impact report. Over the last six years, the business incubator鈥檚 job creation numbers have increased 139 percent, and employee compensation generated from its client companies is up 273 percent.

鈥淭he Innovation Center has done tremendous work helping businesses get their start, and we鈥檙e confident these new grants will allow that work to continue and expand,鈥� 帝王会所 President M. Duane Nellis said. 鈥淭his project is an integral part of OHIO鈥檚 commitment to supporting our Athens and regional economy.鈥�

The Innovation Center is the recipient of the 2019 Randall M. Whaley Incubator of the Year Award (InBIA) and the 2019 Rural-Based Entrepreneurship Center of the Year Award (InBIA).