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Schwarzenegger Proposes $95M Research Fund

Tuesday, January 02, 2007 8:30:00 AM PDT | VentureDeal Staff

SACRAMENTO, CA  --  California Governor Arnold Schwarzenegger recently announced a proposal for a $95 million funding initiative to support key innovation sectors in the state's economy.

Called the Governor's Research and Innovation Initiative, the proposed earmark would fund major science projects in technology sectors including clean tech, biotech and nanotech.

First on tap would be $30 million in funding for the University of California's Lawrence Berkeley National Laboratory, which is researching alternative sources of sustainable, carbon-neutral sources of energy.  Several other projects would be funded as well.

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