Reed Secures Federal Investment for Rev: Ithaca Startup Works
Today, Rep. Tom Reed announced a federal grant worth $750,000 to provide Rev: Ithaca Startup Works with funding for the Prototype to Productions Accelerator, to develop and deliver a program that supports hardware startups and local manufacturers.
“We care about supporting local businesses,” Tom said. “This investment enables Rev: Ithaca Startup Works to aid startups and existing manufacturers and accelerate growth in our region. As the Co-Chair of the Congressional Manufacturing Caucus we are dedicated to supporting American manufacturers and giving them the tools they need to grow and thrive in our economy.”
Ken Rother, Director of Rev: Ithaca Startup Works, shared his thoughts on the grant. “The Southern Tier has a long history of manufacturing – this grant will enable the successful ‘napkin to prototype’ program piloted at Rev: Ithaca Startup Works to expand to help entrepreneurs bring their prototypes all the way to production,” said Rother. “By leveraging the expertise of Cornell University and Rev partners Ithaca College and Tompkins Cortland Community College, this program will help entrepreneurs working on hardware products put down roots and grow their companies, bring work to local contract manufacturers, and grow private jobs. We are tremendously thankful for Rep. Reed’s support of programs that help manufacturers and innovators, which is a critical part of building a thriving economy in the region.”The U.S. Economic Development Administration (EDA) is the only federal government agency focused exclusively on economic development. The EDA provides financial investment to communities to encourage innovation and entrepreneurship through flexible grants. EDA’s Regional Innovation Strategies (RIS) Program awards grants that build regional capacity to translate innovations into jobs.