MATRIC Receives $250,000 Grant from Benedum Foundation
July 27, 2004
Charleston, W.Va. – Representatives of the Mid-Atlantic Technology Research and Innovation Center (MATRIC) recently announced the corporation has received a $250,000 grant from the Claude Worthington Benedum Foundation to be used for start-up funding over three years. MATRIC is a non-profit research and development corporation that is modeled after the North Carolina's Research Triangle Institute (RTI).
Chairman of the MATRIC Board of Directors Tom Potter said he is appreciative that the Benedum Foundation understands the vision of MATRIC. "We are very grateful to receive this grant," Potter said. "The Foundation has expressed strong support for MATRIC's purpose to attract research from government and private industry by utilizing the hundreds of locally based world-class scientists and engineers and the unique research facilities at Dow's South Charleston Technology Park."
According to MATRIC Vice Chairman George Keller, this grant will significantly aid in the development of the new research corporation and will, in turn, have a major impact on MATRIC's ability to hire top-tier scientists. "These important funds will accelerate MATRIC's research and development efforts in chemical products, biosystems and software development," Keller said.
Benedum Foundation Program Officer Mary Hunt-Lieving said the Foundation supports the potential for entrepreneurial development that should be inspired by the work of MATRIC.
MATRIC has received more than $450,000 in donations and pledges, including the grant from the Benedum Foundation, toward a three-year goal of $750,000.
Many economic development organizations support MATRIC's mission of:
- growing into a significant employer of highly paid scientists and engineers;
- developing innovations that local businesses can use to create new products and services to increase local employment; and
- creating an atmosphere that will attract other high tech companies into the area, much like the more than 43,000 technology jobs that have been attracted to North Carolina by the RTI.
More information regarding MATRIC is available at www.matricresearch.com.