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Wayne State receives second year funding from the New Economy Initiative to build technology commercialization efforts

May 22, 2013

Wayne State University received notice of a $820,398 grant from the New Economy Initiative for Southeast Michigan (NEI) that will continue to support the Technology Commercialization Office's efforts to expand and improve the university's entrepreneurial culture and technology commercialization results. With this support from NEI, WSU will continue to expand the activities of its Technology Development Incubator to support the validation of early-stage technologies with significant commercial potential, increase licensing staff, and enhance marketing tools to create awareness of the availability of WSU intellectual property assets to industry and the venture capital community. "A key focus for the New Economy Initiative is to increase tech transfer and commercialization throughout the region, and Wayne State is central to those efforts," said David O. Egner, executive director of the New Economy Initiative. "As a driver of innovation and new ideas - - from the Colleges of Engineering and Medicine to the College of Liberal Arts and Sciences - - Wayne State continues to produce intellectual property that ultimately leads to company and job creation. We're thrilled to support the university's efforts to increase commercial outputs and entrepreneurial activity as a whole, while helping build an innovation corridor right here in Detroit that benefits the entire region."