By Scout Nelson
A new federal investment is expected to support the growth of Nebraska’s bioeconomy and encourage the development of businesses that transform agricultural materials into value-added products. RuralSTAMINA, a regional initiative led by Iowa State University, has secured a $15 million, two-year grant from the National Science Foundation (NSF).
The RuralSTAMINA network includes approximately 70 organizations across Nebraska and Iowa, including universities, research centers, businesses, and investment groups. The program aims to support startups and entrepreneurs developing products such as biofuels, pharmaceuticals, plastics, and textiles from agricultural feedstocks.
The bioeconomy is currently valued at roughly $4 trillion worldwide and is projected to grow significantly in the coming years. Successful performance could make RuralSTAMINA eligible for up to $160 million in additional funding over the next decade through the NSF Regional Innovation Engines program.
University of Nebraska-Lincoln officials said the award highlights the university’s role in advancing research, innovation, and economic development. Community colleges throughout the region are also expected to help train the workforce needed to support expanding biomanufacturing industries.
Researchers believe increasing biomanufacturing capacity in Nebraska could strengthen rural economies. Many bioeconomy businesses are small- and medium-sized companies that benefit from operating near the agricultural feedstocks they use to create products.
The funding is also expected to help startups attract venture capital, accelerate commercialization efforts, and develop new technologies that convert crops and other biological materials into high-value consumer and industrial products. Ultimately, the initiative aims to boost innovation, create jobs, and strengthen the agricultural economy across Nebraska and Iowa.
Photo Credit: gettyimages-seb_ra
Categories: Nebraska, Business, General, Rural Lifestyle