2009 Winner of the Improving Competitiveness of Existing Industries Category
The Innovation Adoption Grant Fund (IAG) pairs small manufacturing companies with nonprofit centers of excellence, which help the companies develop new products or create new and better manufacturing processes. Since 2004, the IAG Fund has awarded more than $1.5 million to more than 100 companies, generated an additional $2 million in matching investment in R&D from private industry, and created or retained more than 800 jobs with an average annual salary of $45,000.
Listen to Bob Starzynski’s response to the following questions in this clip (approximately 17 minutes):
- Can you explain the historical sources of funding for the IAG fund and describe your more recent efforts to turn it into an evergreen fund?
- Why are grants considered the critical delivery mechanism for the fund?
- What are some of the critical components of the program that have contributed to its success?
Or download the transcript at: http://www.sstiawards.org/transcripts/starzynski.pdf.