MANHATTAN, Kan. (WIBW) – Kansas State University’s Technology Development Institute has received CARES Act funding to create an innovation stimulus program.
Kansas State University says the U.S. Department of Commerce’s Economic Development Administration has awarded its Technology Development Institute grant funding through the coronavirus relief act to help regional innovation efforts.
The institute says it is planning to use the funding to create an Innovation Stimulus Program, providing no-cost commercialization and engineering services to projects that have a positive economic impact in the region.
According to the Institute, the program will offer up to $150,000 worth of services to help move projects, products or ideas forward in the marketplace over the next year with a maximum award of $20,000 for a single project. It says the goal is to help manufacturers and innovators with efforts even when cash flow may be slow.
The Institute says projects that fit within its Innovation Stimulus Program would be design, engineering or prototyping of new product ideas, including the creation of SolidWorks models or drawings of existing product lines, or modifications of existing product drawings to make upgrades. It says additionally, conducting preliminary intellectual property, customer and market research on new product ideas and creation of new websites or marketing materials like brochures or technical product specification sheets are also eligible.
“We are excited to partner with the Economic Development Administration in offering a program that supports the development of new and innovative ideas that will benefit the job creators of our region,” Tucker said. “We are hopeful that by providing the technical support services at no cost, we can ensure our region maintains a competitive advantage and ensures that the impacts of the economic downturn are minimized.”
The Institute says applications for the program opened Aug. 1 and will remain open until all funding has been allocated. It says more details on the program can be found on its website under the Innovation Stimulus Program page.
K-State says its Technology Development Insititute is a U.S. Department of Commerce Economic Development Administration University Center and provides a range of engineering and business development services to both private and university researchers to advance commercial readiness of new products or technologies.
For more information on the Technology Development Institute, visit K-State’s website.
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