Virginia Tech’s Corporate Research Center has received a state grant of nearly $100,000 to study the idea of shared laboratories that would support the region’s biotech industry.
State funds awarded for study of shared laboratories in Blacksburg, Roanoke
The funds, awarded Tuesday by the GO Virginia state board, come with another $55,000 in local contributions.
Locations in Blacksburg and Roanoke are currently being considered for the shared labs, which would be accessible to smaller, early-stage startups in GO Virginia’s Region 2, which stretches from the Lynchburg area to the New River Valley.
The $99,360 in state funds and the local match will be used to pay for a feasibility study of market demand for the labs and to create a conceptual design for the facilities, according to the research center.
Additional money would be required to build the labs, should the plans go forward.
An advisory board for Region 2 recommended the grant last year. Approval by the state board Tuesday marked the latest round of grants from a state-wide program created by the General Assembly to foster private-sector growth.
Nine regional councils were appointed to recommend state grants for projects that focus on workforce development, technology, entrepreneurship and site development in their respective areas.
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