USD, governor's office to team up on bioscience projects
Monday, January 08, 2018
VERMILLION, S.D. – The University of South Dakota Beacom School of Business on announced the creation of a proof-of-concept partnership with the Governor’s Office of Economic Development designed to take academic research from an idea to the marketplace.
In October, the U.S. Department of Commerce awarded USD and GOED a matching grant totaling $996,000 to be used over three years to implement a proof-of-concept program to evaluate and commercialize bioscience ideas and develop the needed skilled workforce.
Under the plan outlined at a news conference at the USD center in Sioux Falls, teams consisting of researchers, entrepreneurs, technical and business students, equity capital investors and potential strategic partners will be created to submit proof-of-concept applications and execute projects. Applications will be submitted to the S.D. Board of Regents Research and Affairs Council and business/investment experts for technical and business review.
“I couldn’t be more pleased that the USD Discovery District will serve as a platform for a proof-of-concept program that will foster bioscience innovation in the state,” USD President Jim Abbott said.