The city is set to approve a grant program that would encourage nine companies in bioscience, IT and aerospace to keep innovating in San Antonio.
It's our privilege to produce journalism that fosters democracy this election year, but we can't do it alone. Will you contribute today to helpThe City of San Antonio is poised Thursday to approve more than half a million dollars in grants to nine local bioscience and technology companies that have already earned federal support.
Bob Hutchens, CEO of StemBioSys, which has developed several stem cell technologies and would be granted $50,000 if the program is approved, appreciates the support. “While small, is meaningful in that it’s an endorsement that the city really wants to support companies that are doing innovative things here,” he said. “This is a great place to do business. San Antonio has always gone out of its way to help us.”grants, he said, gives the city “assurance that they’re putting money behind something that has been appropriately vetted, and has meaningful science or a meaningful idea behind it.
The resulting matching grant pilot program will be funded through the department’s Economic Development Incentive Fund. Companies may use the money only on costs directly related to the project or product funded by their federal grant.
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