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UC Riverside has received a $2.5 million grant from the Riverside County Economic Development Administration.
The grant, which will be used to help buy equipment for the Inland Empire’s first wet incubator lab, will be matched by another $2.5 from the state of California and UC Riverside, according to a statement.
A wet lab incubator is a laboratory that tests drugs, chemicals and other forms of matter, either gas or liquid. Such a facility reduces the risk of starting a life-science business.
“With the wet lab incubator, we support our entrepreneurs with local laboratory facilities and expert mentoring to grow their companies,” Chancellor Kim A. Wilcox said in the statement. “The research coming out of UC Riverside and the Inland Empire is top notch,”
The grant was put together by Riverside County, the city of Riverside, the UC Riverside Office of Technology Partnerships and the school’s Center for Economic Development and Innovation.
“A wet lab incubator … will be an important catalyst in the growth of local life science and agriculture biotech firms,” Riverside Mayor Rusty Bailey said in the statement
About 15 job-creating startup companies will use use the facility once it’s established.
