UTMB / GEDP relationships bears fruit for startup ecosystem on Galveston Island
Galveston will soon see evidence of a new emerging technology business incubator in the old Customs House building on Strand Street, thanks to a $2 million grant from the U.S. Department of Commerce’s Economic Development Administration and $500,000 in matching funds from the University of Texas Medical Branch.
The grant, made to the medical branch’s Center for Business Technology and Development, will enable a centralized hub for business, technology and medical care in the Customs House, 1700 Strand, fulfilling a mission of the institution as well as the dream of a local partner, the Galveston Economic Development Partnership and its president, Jeff Sjostrom.
Sjostrom has been working on the idea of a business incubator in Galveston for at least 20 years, he said. The partnership with the medical branch and a focus of emerging technologies has aligned the stars, bringing his idea closer to fruition, he said.