About
Innovation in Delaware is a comprehensive innovation ecosystem initiative anchored in Wilmington that supports early-stage companies and startups through multiple institutional players and funding mechanisms. The ecosystem is coordinated through the Delaware Prosperity Partnership, which works to connect innovators with capital, talent, and business development resources. A standout initiative is Startup302, Delaware's flagship pitch competition that offers non-dilutive funding specifically to women and BIPOC-led founders, drawing participants from across the United States and connecting them with investors and accelerators. The state supports innovation through R&D tax credits, diverse financing options, workforce training, and structured business development assistance. Key infrastructure includes Delaware Innovation Space, a nonprofit incubator founded in 2017 and located on the DuPont Experimental Station campus, which houses early-stage companies in hard science sectors including energy, biotechnology, nutrition, chemistry, materials, agricultural biotechnology, industrial biotech, and diagnostic equipment. Delaware Innovation Space also manages its First Fund, a 2020 vintage early-stage venture capital fund focused on these same technology sectors. The broader ecosystem includes the FSI Angel Network, which has raised more than $10 million for early-stage company investment in the state. Other venture capital participants in the Delaware innovation landscape include Longview Innovation, a firm founded in 2014 that invests in hard science-based innovation originating from university and federal laboratory partners, and Inflection Point Ventures, based in Newark, which invests across the Mid-Atlantic region. The ecosystem has attracted fintech innovation as well, with companies like ICM, a Visa Ventures portfolio company, choosing Wilmington as headquarters for its investor cash management technology platform.