The U.S. Department of Commerce is giving the University of Florida more than $8 million to create a technology business incubator at its Florida Innovation Hub.
In a Tuesday announcement, U.S. Secretary of Commerce Penny Pritzker said that the department’s Economic Development Administration is awarding the grant as part of the Innovation Hub’s Phase II development. The grant will assist 45 companies of different sizes. Phase I assisted 60 companies and created 760 jobs along with $50 million in private investment in its first three years.
According to the announcement, companies that require specialized wet and dry laboratories that are not yet available in the commercial market will be provided space within the new, LEED certified, multilevel facility. An Entrepreneurial Woman’s Center will also be receiving a portion of the space to help women, who are underrepresented as entrepreneurs, build businesses.