Launch of Emerging Technology Center Completes Delaware Governor's New Economy Initiative

Gov. Ruth Minner launched over the summer the final component of her New Economy Initiative to provide a network of support and services to technology-based start-up companies.

The Emerging Technology Center will partner with private firms, regional organizations and universities to identify gaps in available services and provide access to technology development resources and laboratory facilities for product development, according to the governor's press office. The mission of the center is to seek individuals who have the capacity and desire to become tech-based entrepreneurs. Primarily, the state is interested in identifying those who have recently retired from technology-based corporations, individuals separated from their jobs due to business changes, new residents, professors, and graduate students.

Gov. Minner unveiled the New Economy Initiative in February 2004 following her State-of-the-State Address (see the Feb. 27, 2004 issue of the Digest). In July, the legislature passed a capital budget that included funding for all key components of the initiative (see the July 26, 2004 issue of the Digest). The largest component of the $30.5 million initiative is the Delaware Competitiveness Fund, which consists of a $12.5 million investment to induce Delaware manufacturers to make capital investments in order to preserve and expand productivity and competitiveness of plant sites facing decline from national and global competition.

Other services to be provided by the center include linking entrepreneurs to an existing network of business expertise, services and investors and providing assistance for tech-focused business plans. In addition, DuPont and Hercules recently donated intellectual property to the center for a new patent program currently being developed, according to the governor's press office.

More information is available at: http://www.state.de.us/dedo/news/2005/FinalEconInitiative_08_25_05.shtml