The Los Angeles Times reports that UCLA, the University of Southern California, and the California Institute of Technology together received a three-year, $3.5 million grant from the National Science Foundation’s Innovation Corps to foster relationships with university researchers, students, business leaders, and investors.
According to the article, Los Angeles universities produce more engineers than any other region in the country — but face a challenge in translating the talent and new ideas into viable businesses.
“At USC, business and engineering professors will work closely together in areas such as healthcare and aerospace. The same goes at UCLA, which will see people from the schools of engineering, medicine and business come together,” according to the article. “Caltech’s chief innovation officer, Fred Farina, said in a statement that the school looked forward to the partnership and ‘consistently produces’ about eight start-ups a year.”