The University of California announced today (Nov. 30) that a $22 million investment from the State of California to accelerate innovation and entrepreneurship across the UC system has supported more than 500 new startups and existing companies, helped launch at least 47 new products and enabled companies to attract $3.7 million in additional investments.
Assembly Bill 2664, the Innovation and Entrepreneurship Expansion, was authored by Assemblymember Jacqui Irwin and signed in fall 2016 by Gov. Jerry Brown. Through the bill, each of UC’s 10 campuses received $2.2 million in one-time funding in Jan. 2017 to invest in infrastructure, incubators and entrepreneurship education programs.