Specifically, the National Institute on Aging’s Research and Entrepreneurial Development Immersion program granted the Science Center $250,000 for one year, with four one-year extensions. The total award is expected to be $1,250,000 over five years.
“The Science Center is thrilled to receive funding from the NIH to introduce founders to the aging market and support them in developing solutions in a practical and material way,” President and CEO Tiffany Wilson said in a written statement. “Our Founders Fellowship is designed to position academic researchers for success in their commercialization efforts, resulting in more successful startups from NIH-funded and supported researchers; and increase the likelihood of success of private capital by leveraging government investment.”
The first year of this grant will support five founders in a year-long program that will expose them to the aging market and help with commercialization efforts.