Delaware Valley Innovation Network Announces Innovation Investment Fund

PHILADELPHIA, April 8, 2008 /PRNewswire-USNewswire/ -- The Delaware Valley Innovation Network (DVIN) announces the launch of the Innovation Investment Fund, which will provide more than $2.5 million in grants over the next three years to support training and capacity building programs in the life sciences workforce in the Delaware Valley*.

Formed as a result of U.S. Department of Labor's Workforce Innovation in Regional Economic Development (WIRED) initiative and grant, DVIN was established to develop collaborative initiatives with workforce development, economic development, academia, industry and corporate leaders to transform the workforce throughout the country.

"DVIN's launch of the Innovation Investment fund addresses the need for increased regional funding support for a life sciences workforce in the Delaware Valley," said Kelly Lee, DVIN Executive Committee Chair and Executive Vice President of Innovation Philadelphia. "The goal of the fund is to train 5,000 new workers over the next three years and provide these workers with those skills that are most needed by the life sciences companies in the DVIN region."

Eligible applicants for the DVIN Innovation Investments include 501(c)3 non-profit organizations, individual businesses or business partnerships, educational entities, economic development organizations, workforce intermediaries, and community-based organizations.

DVIN Project Director Helen Groft said, "We are seeking proposals that will impact the life sciences workforce in innovative ways. The proposals can contain new programs or existing successful programs that will expand with the support of the grant money. The Fund is one of DVIN's resources to strengthen the Delaware Valley region's identity as a world-class life sciences industry."

Project examples include, but are not limited to, training projects for incumbent workers skill development and pipeline training and capacity-building projects. There are also grants to support life sciences professional development for educators, curriculum development and/or curriculum delivery.

More information and the Innovation Investment Guidelines are available at www.delawarevalleyinnovationnetwork.com.

* The 14-county, DVIN region includes:Berks,Bucks,Chester,Delaware,Lancaster,Montgomery, andPhiladelphia Counties inPennsylvania;Burlington,Camden,Cumberland,Gloucester,Mercer, andSalem Counties inNew Jersey; andNew Castle County inDelaware.

About DVIN

The Delaware Valley Innovation Network (DVIN) was formed in 2005 to apply for a Workforce Innovation in Regional Economic Development (WIRED) grant from the U.S. Department of Labor. This unique, collaborative effort was endorsed by the governors ofPennsylvania,New Jersey, andDelaware and created a fourteen-county initiative to strengthen and grow the tri-state region's vibrant life sciences industry and workforce. DVIN's mission is to accelerate the transformation of the life sciences industry in the 14-county tri-state region into an internationally recognized center for excellence. DVIN will attract resources to support research, industry and human capital development. For more information, please visit www.delawarevalleyinnovationnetwork.com.

SOURCE Delaware Valley Innovation Network

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