SHAHEEN ANNOUNCES GRANT TO SUPPORT JOB GROWTH THROUGH INNOVATIVE STARTUPS

August 31, 2011

(Washington, DC) –U.S. Senator Jeanne Shaheen (D-NH) announced today that a New Hampshire non-profit received a $300,000 federal grant to support its mission to help high-tech startup companies succeed.

The New Hampshire Innovation Commercialization Center (NH-ICC), which partners with the University of New Hampshire, will use the grant from the Economic Development Administration (EDA) to continue to provide physical space, coaching, and other support to startups with strong potential in southern New Hampshire.

“The EDA funding will allow the NH-ICC to foster an environment of success for the innovative companies it houses,” Shaheen said. “The businesses supported by this funding will contribute to creating jobs and growing the New Hampshire economy. This is especially crucial right now, given the current economic climate.”

The grant is expected to create more than 100 jobs during the 18-month EDA project period and more than 300 jobs over five years.

"We are excited about this EDA grant and how it supports our mission” said Mark Galvin, Managing Director of the NH-ICC. “It will fund acceleration services to select and grow five to six early-stage, technology-based startups, helping them commercialize their technology and build their businesses to self-sufficiency.  Successfully nurturing startups through these early stages is key to the firm's success and to job creation." 

“We are grateful for Senator Shaheen’s help in bringing these funds to New Hampshire,” said Jan Nisbet, senior vice provost for research at UNH. “Support for high-growth, high-potential start-ups and early-stage firms is key to future job growth and economic development in the state.”

The NH-ICC is a non-profit agency, based in Portsmouth, focused on creating sustainable, high-value, private-sector jobs in New Hampshire through the support of startup ventures. For more information on the center, go to: http://www.nh-icc.org/about-nh-icc/ 

EDA grants are awarded through a competitive process based upon the application’s merit, the applicant’s eligibility, and the availability of funds. More information on EDA’s grant process and investment priorities can be found at www.eda.gov.

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