Technology News

Rutgers Secures $1.5 Million US Grant For Incubator

Tuesday, March 27, 2007 7:30:00 AM PDT | VentureDeal Staff

CAMDEN, NJ -- Rutgers University announced the receipt of a U.S. Economic Development Administration grant of $1.5 million.  The grant will be used to support the establishment of a new biotech-life science business incubator at the Rutgers-Camden technology campus.

The grant will be used to construct wet lab space for 18 laboratories and will create 255 jobs.  The technology campus currently serves 35 on-site companies and 15 off-site companies, by providing them with office and lab space, business advice and services at a below-market cost.

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