DELAWARE ECONOMIC-DEVELOPMENT AGENCY TO LAUNCH EMERGING-TECHNOLOGY CENTER

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DOVER, Del. -- The second phase of the Delaware Economic Development Office's initiative to identify, encourage and support technology-related startups was announced Monday.

The agency announced plans to launch the Delaware Emerging Technology Center, which will exist virtually, rather than in a brick and mortar structure.

DEDO earlier announced the launch of the First State Innovation Program, which also is designed to identify and support promising technology startup ideas with the goal of creating quality companies and jobs for the state.

The two programs will collaborate with the Sussex County Portal, a grassroots effort to identify promising entrepreneurs and ventures in and out of technology.

The programs will work mainly in Downstate and bring promising startups to the attention of DEDO, which can help provide support from the state's existing economic development infrastructure, said Karley Sessoms, executive assistant to DEDO director Judy McKinney-Cherry.

Some of the portal's techniques for creating a grassroots front end for outreach may be replicated in the statewide program.

DEDO is currently conducting a national search for a director for the center to add more detailed structure and "we hope a new sense of momentum," Mrs. Sessoms said.

The director is expected to be in place by early 2007 and will initially work to structure the Emerging Technology Center, although many aspects of the program are already in place, she said.

For example, to mentor promising entrepreneurs, the state has identified service providers statewide who are willing to provide mentoring in specific business specialties at no cost or reduced fees to promising technology entrepreneurs.

The center also has established an advisory board of about 10 members. Many of the center's board members also serve on First State Innovation.

To help fund the program, DEDO has about $750,000 remaining of $1 million earmarked in the budget for its Entrepreneurial Center of Excellence, an existing initiative.

Those funds can be used to provide seed capital to promising ventures.

DEDO also is seeking relationships with investors to pair with promising entrepreneurs.

Although the center is expected to expand its efforts after selection of an executive director, the current network of DEDO offices, such as the Small Business Development Center and the Center for Entrepreneurial Excellence, will be able to handle entrepreneurs who want to get started now, Mrs. Sessoms said.

"The launch of the Delaware Emerging Technology Center will promote our entrepreneurial climate, create business opportunities and high-paying jobs and represent a key investment in our state's future," Gov. Ruth Ann Minner said in a prepared statement.

Noureddine Melikechi, director of the Applied Optics Center at Delaware State University and a member of the ETC advisory board, also hailed the program.

"The Emerging Technology Center will become a leading asset for the state of Delaware and assist our colleges and universities in retaining our talented graduates," he said.