Local Nonprofit Awarded Major Economic Development Grant

MONROVIA, CA — Local nonprofit Oak Crest Institute of Science was approved for full funding support through the i6 Challenge program under the U.S. Economic Development Administration’s Regional Innovation Strategies (RIS) Program, the City of Monrovia announced.

The prestigious grant award will help fund the Monrovia – Oak Crest Science and Technology Incubator Program (MOST-IP), an "innovative science and technology initiative aimed at building regional capacity to translate innovations into jobs through proof-of-concept and commercialization assistance to innovators and entrepreneurs," the City press release said.

The i6 Challenge program received more than 180 applications, and only 22 were awarded. Plus, Oak Crest is one of only two awardees in California.

"This is fantastic news for the development of our startup infrastructure and the continuing workforce development at Oak Crest. The combination of our know-how, infrastructure and the support of our partners will enable us to accelerate the commercialization of new technologies while also training students on how it’s done. It’s a win-win situation all around," said Dr. Chris Buser, the grant’s Principal Investigator and Oak Crest Senior Faculty.

Oak Crest launched the MOST-IP, in collaboration with the City of Monrovia and Newton World Enterprises LLC, to develop and mature internal and external discoveries into products; provide access to laboratory infrastructure, scientific know-how and high-end equipment; teach scientists and diverse students basic entrepreneurial concepts; and support the formation and sustainability of startups through continuing business services, the City of Monrovia said.

Since 2011, the City of Monrovia focused its economic development approach to position the city as a premier location for technology and science-focused businesses, such as Oak Crest. The ongoing relationship with Oak Crest flourished into a vibrant local science and technology eco-system in Monrovia that links educational institutions with the business community to support continued social and economic growth, and provides workforce development opportunities with a dedicated school-to-jobs pipeline.

“Monrovia is home to a burgeoning high-tech industry where companies, like Oak Crest Institute of Science, are forging new solutions to some of the world’s biggest problems,” said Oliver Chi, City Manager. “We are thrilled that Oak Crest has been awarded with this grant as it will only enhance their operations and provide them with funding to continue to deliver exceptional research, and create high-quality job opportunities here in Monrovia.”

The Oak Crest Institute of Science is a chemistry research and education center that uses rigorous academic laboratory programs to advance the understanding of environmental and medical science.

Their research findings are important contributions to both the fundamental and applied levels of chemistry and biology, and they also shape public policies affecting regional environmental quality and medical care in the developing world, the press release said.

"This very important, enabling award will allow us to significantly accelerate the development of the local science ecosystem," said Dr. Marc Baum, President of Oak Crest. "Our goal is to jointly develop a local science and technology hub that organically integrates education, job creation, and business incubation with strong community participation. This prestigious grant could not have come at a better time."

The institute has a strong commitment to the local community, where they mentor Monrovia youth interested in the STEM field, participate as an employer in the City’s summer Youth Employment Service program, and help lead elements of the City’s Junior Researcher Academy and Spring Break SciLab initiatives.