The Institute for Life Science Entrepreneurship at Kean University was awarded a $100,000 planning grant with Union Township to expand its outreach to life science entrepreneurs and its university programs.
In a press release, the university said that a Union Township proposal to expand ILSE, located in Kean’s STEM Building, received one of nine New Jersey Economic Development Authority Innovation Challenge awards. The ILSE incubator is a facility that supports eight startup life science businesses by providing physical space, shared equipment and support and consultation on the challenging issues facing entrepreneurs.
“We anticipate an expansion to house another 20 companies or more and up to 100 researchers, creating a nexus of innovation at Kean for industry research, faculty collaboration and student educational opportunities,” ILSE President Thomas Richardson said in a statement.
The Township of Union applied for the grant with ILSE as a strategic partner to generate economic development, commercial activity and jobs in the municipality.
Under the enhanced ILSE plan, Kean students will get practical experience with startup companies, develop technology, and address current problems in health care.