Wyden, Merkley, Bonamici Announce Nearly $6 Million to Support Oregon Entrepreneurs and University Startups

Wyden, Merkley, Bonamici Announce Nearly $6 Million to Support Oregon Entrepreneurs and University Startups

Federal award to Portland State University will help turn academic research into commercial products, startups, and community solutions.

Washington, D.C.-U.S. Senators Ron Wyden and Jeff Merkley with U.S. Representative Suzanne Bonamici today announced a federal investment of $5.9 million to Portland State University to help turn institutional research into commercial products.

"Oregon's public universities produce top-tier scientific breakthroughs, and lab discoveries shouldn't sit on a shelf when they could be creating good-paying jobs and growing our local economy," Wyden said. "This federal award will help reward faculty who turn campus discoveries into viable startups, vibrant local industry partnerships, and practical solutions. It's a tremendous win for Oregon's innovation ecosystem and for training the next generation of scientific entrepreneurs."

"Institutions of higher education like PSU are at the forefront of Oregon's innovation-supporting and growing small businesses across our state," said Merkley. "This nearly $6 million federal award will supercharge PSU's work by expanding its capabilities and ability to utilize its research in real-world practical situations, ensuring Oregon continues to be a hub of ideas and economic development for decades to come."

"I am thrilled that this grant will meaningfully support innovation and entrepreneurship projects across NW Oregon and empower faculty and students to learn, test, and demonstrate the groundbreaking products and services that will drive our scientific future. This investment will enable the next generation of scientific leaders to bring discoveries to market and fuel our region's research economy," Bonamici said.

The $5,973,981 federal investment through the National Science Foundation's Accelerating Research Translation program will be used by PSU to update promotion and tenure rules to reward applied work, provide seed grants for commercial projects, train students in entrepreneurship, and offer business coaching to launch local partnerships and university spin-offs.

"PSU's motto is Let Knowledge Serve the City, and this award puts that commitment to work for our regional economy. Our researchers are producing discoveries with real commercial and civic value. This investment helps us turn more of that work into Oregon companies, Oregon jobs, and Oregon solutions," said Portland State University President Ann Cudd.