A $500,000 annual subsidy has been reauthorized for the Central Michigan University Research Corp.
The CMU subsidy authorizes an additional five years of funding through June 30, 2019.
“The inclusion of dedicated funding for CMURC reaffirms the strong support that exists between the university and the business community,” said Erin O’Brien, president and CEO of CMURC. “The ongoing relationship has allowed for growth of the entrepreneurial community in the region, including collaboration opportunities for CMU faculty, staff, students and alumni.”
“The CMURC team is fueling an energized, innovative spirit on campus and in our community,” said CMU President George E. Ross, who also chairs the CMURC board. “Erin and her team are showing us how to be entrepreneurs and how to excel in a world that moves swiftly and that’s built on an ever-expanding web of relationships.”
CMU and CMURC began the funding agreement in September 2004 when the university’s board of trustees authorized a $500,000 annual subsidy to CMURC for September 2004 through June 30, 2009. In July 2009, the subsidy was reauthorized for another five-year period through June 30, 2014.