Chemeketa Community College’s student-led startup plans to build a $3M lab, $1M accelerator and $1.5M seed round
- by admin
Chemeketas community college plans to use the money from its $3 million Seed Fund to launch a new research lab, build a new building and launch a mentoring program.
The school also plans to offer a mentorship program for students and faculty.
The venture comes as the campus is under pressure from a new state law that requires public colleges and universities to post on their websites all funding received from federal grant money.
The law was enacted last year, but the move has not gone smoothly.
Under the federal law, which has become known as Title III, all federal grants must be posted online by the end of June.
Since it took effect last summer, only 13 states and Washington, D.C., have posted all federal grant funding information, and the U.S. Department of Education says it will take two years to update the list.
In addition to funding, the funding includes seed and capital contributions, and students, faculty and staff members will be asked to share their work with the community.
Chemeketa is also planning to invest $1 million in a new lab and $750,000 in a building for its mentoring and tech incubator program.
A Chemekete is the name of the town in Pennsylvania that holds a portion of the state capitol.
It has also been the site of an ongoing conflict between Chemekets employees and the state.
In January, the state sued Chemeketo for the alleged mistreatment of workers.
The state says it has also sought to force Chemekétas to pay $3.3 million in back wages to workers, and to settle a lawsuit brought by former employees.
Last month, the company agreed to a $2.5 million settlement, but in March, the settlement was overturned by a federal appeals court, and a lawsuit was filed to block the settlement.
The school has received $3,917,000 of the $5,955,000 the state is seeking in back pay, but it still faces a $1,600,000 fine.
Its total revenue last year was $3 billion.
Chemeketas community college plans to use the money from its $3 million Seed Fund to launch a new research lab,…
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