Florida A&M University is receiving more than one million dollars in federal funding to support budding entrepreneurs.
The REACH program, which stands for Research, Entrepreneurship and Commercialization Hub, supports entrepreneurs in underserved rural and urban communities in Tallahassee. The Hub will function as a networking center for entrepreneurs and innovators. David Teek, Coordinator at the Office of Technology Transfer at FAMU, says the project looks at how to provide facilities, training and mentors.
“The program over a period of 5 years will be used to strengthen technology commercialization capabilities, build up entrepreneurial programs and support networks to translate ideas into commercial companies,” says Teek.
FAMU’s REACH received the funding through the U.S. Department of Commerce’s Economic Development Agency Office of Innovation and Entrepreneurship. The project was one of 42 national projects selected from more than 217 applicants.