The University of Oklahoma’s Price College of Business is making waves in the entrepreneurial world with the recent announcement of a $1.9 million grant awarded to Startup OU, a program housed within the Tom Love Innovation Hub. This grant, provided by the U.S. Department of Commerce’s Economic Development Administration through the Build to Scale Venture Challenge, aims to expand entrepreneurial programs and support technology-driven businesses in Oklahoma.
Tom Wavering, the executive director of the iHub and principal investigator of the grant, expressed his excitement about the potential impact this investment will have on Oklahoma’s economic landscape. With the funding, Startup OU plans to scale its pre-accelerator, accelerator, and incubator programs in various communities across central and south-central Oklahoma, including Chickasha, Moore, Yukon, Shawnee, Purcell, Midwest City, and El Reno. These initiatives will provide founders with the necessary resources and support to turn their ideas into successful small businesses.
In addition to expanding existing programs, Startup OU will introduce new initiatives focused on commercializing university innovation, workforce development, and supporting international founders interested in launching businesses in Oklahoma. The program also aims to establish a national mentor network involving the University of Oklahoma’s alumni base, further enhancing support for early-stage startups.
Dayten Israel, the director of Startup OU, highlighted the importance of leveraging the university’s resources, including its alumni network, faculty expertise, and student talent, to provide comprehensive support to aspiring entrepreneurs. The grant will also facilitate the creation of impact-driven experiential learning opportunities through a new studio program, which will engage interdisciplinary student teams in identifying commercialization pathways for university technologies.
Since its inception in 2021, Startup OU has made significant strides in fostering entrepreneurship in Oklahoma. The program has trained over 100 aspiring entrepreneurs, facilitated the launch of nearly 40 startups, and generated over 150 jobs in the state. Corey Phelps, the dean of the Michael F. Price College of Business, emphasized the college’s commitment to driving innovation and entrepreneurship in Oklahoma, citing the iHub’s cutting-edge resources, such as the Fabrication Lab and Entrepreneurial Law Center, as key assets in supporting local entrepreneurs and students.
Overall, the $1.9 million grant awarded to Startup OU represents a significant milestone in the University of Oklahoma’s efforts to cultivate a thriving entrepreneurial ecosystem in the state. By expanding its programs and initiatives, Startup OU is poised to make a lasting impact on the economic health and resilience of Oklahoma, creating opportunities for growth and innovation for years to come.
