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Deshpande Foundation puts $5M into Merrimack Valley Sandbox

Thursday, December 9, 2010   (0 Comments)
Posted by: Matthew Montoya
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Adding detail to an announcement from earlier this week, the Deshpande Foundation and a coalition of colleges and non-profit groups said today that a planned entrepreneurship center based at the University of Massachusetts Lowell will be called the Merrimack Valley Sandbox, and that it will be funded with $5 million from the Deshpande Foundation over five years, and an expected $10 million in supplemental funds from outside backers.

The organizers had released basic information about the plans on Tuesday.

The goal of the initiative is to grow an "innovation ecosystem” in the Merrimack Valley. In addition to the Deshpande Foundation and UMass Lowell, partners include Middlesex Community College, Northern Essex Community College, Merrimack College and Teach For America. The initiative will establish the Merrimack Valley Center for Innovation and Entrepreneurship at UMass Lowell, which will coordinate activities between the colleges, local non-profits and the business community.

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