One of the things you learn in working with the Oregon state government is that things are funded in bienniums — two year tranches of funding — based on the available state budget coming out of the long session. So if you’re applying for funding, it’s a nailbiter to find out how much your org is going to get over the next two years — if at all. So I’m happy to report that the state will continue to fund the “Innovation Hub” activity it started last biennium by providing ~$3.8 million of operating capital to innovation hubs around Oregon.
Business Oregon and the Oregon Innovation Council (Oregon InC) are pleased to announce the intent to award 2025-2027 Regional Innovation Hub grants. Regional Innovation Hubs provide technical assistance, access to capital, networking, mentorship and talent development to innovation-based entrepreneurs statewide. Grant funding supports these Hubs in continuing their work assisting entrepreneurs with innovation-based business concepts across varied industry sectors and supporting a regional innovation network.
Eight organizations across the state were awarded a total combined amount of $3.77 million in Regional Innovation Hub grants. Each Regional Innovation Hub has a lead organization to convene partners to foster collaboration and ensure seamless delivery of services. As a key strategy of Oregon’s 10-Year Innovation Plan, this grant funding enhances the coordination of services and resources to maximize support for innovation-based entrepreneurs, as well as fosters a culture of innovation throughout Oregon. Regional Innovation Hubs are specifically focused on supporting the development and expansion of high-growth, scalable, innovation-based companies primarily centered on science and technology.
The funding for the specific organizations breaks out like this:
- Metro Region Innovation Hub $1,200,000
- Frontier Oregon Innovation Hub $465,000
- Mid-Columbia Innovation Hub $420,000
- Cascades West Innovation Hub $400,000
- Southern Oregon Innovation Hub $400,000
- Mid-Valley Innovation Hub $385,000
- Northwest Innovation Hub $275,000
- Southwest Oregon Innovation Hub $225,000
For more information, see the press release from Business Oregon.
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