• About
    • About Us
    • What We Cover
  • Advertise
    • Advertise
    • Our Advertisers
  • Contact
  • Donate
  • Send News

Oak Ridge Today

  • Home
  • Sign in
  • News
    • Business
    • Community
    • Education
    • Government
    • Health
    • Police and Fire
    • U.S. Department of Energy
    • Weather
  • Sports
    • High School
    • Middle School
    • Recreation
    • Rowing
    • Youth
  • Entertainment
    • Arts
    • Dancing
    • Movies
    • Music
    • Television
    • Theater
  • Premium Content
  • Obituaries
  • Classifieds

Tech 2020 awarded $250,000 EDA grant

Posted at 4:12 pm October 19, 2015
By Oak Ridge Today Staff Leave a Comment

Tech 2020 Logo

Center for Entrepreneurial Growth to administer funds to support entrepreneurs

Tech 2020, a nonprofit corporation that serves to foster entrepreneurship, has received a $250,000 grant from the U.S. Department of Commerce’s Economic Development Administration, or EDA.

The grant is part of nearly $1.8 million EDA is distributing through its Partnership for Opportunity and Workforce and Economic Revitalization, or POWER, Planning program.

The POWER Planning grants were awarded to development and entrepreneur groups throughout the country for “developing targeted economic strategies, feasibility studies, impact assessments, asset mapping, and other relevant strategic planning efforts,” a press release said.

“This is a sizable achievement for Tech 2020 as we continue to assist entrepreneurs in growth-stage industries such as advanced manufacturing,” Tech 2020 President and Chief Executive Officer Kevin Kragenbrink said.

The POWER Planning grant was awarded due to “Tech 2020’s capacity to provide entrepreneurial support through its Center for Entrepreneurial Growth program,” according to the EDA. “The program will provide increased services to emerging and growth-stage entrepreneurs interested in launching businesses in the manufacturing industries. The project will help spur the region’s manufacturing clusters, promoting economic diversification, resiliency, and growth in the coal-dependent region.”

The POWER program focuses on providing economic assistance to coal-dependent regions. As the U.S. relies less on fossil fuels as primary energy sources, people working in the coal industry will need to learn additional skills in order to pursue jobs outside that sector. The POWER program aims to assist in diversifying coal-dependent economies and to provide training to former coal workers.

“As the U.S. evolves from a coal-based energy sector to one focused more on natural gas and renewable energy, initiatives like the EDA’s POWER program help facilitate that transition, by making sure the proper economic and workforce investments are being made and people in fossil fuel-dependent regions aren’t left behind,” Kragenbrink said. “Awards like the one we received from the EDA go a long way toward diversifying local economies and providing resources to entrepreneurs.”

Tech 2020, a regional venture development organization, or VDO, is a Tennessee nonprofit corporation established in 1995. It was initially chartered to assist with the creation of small businesses through technology transfer from the inventions and technologies developed at the Oak Ridge U.S. Department of Energy sites.

Among the first VDOs in the nation, Tech 2020 has won national awards from the State Science and Technical Institute and the National Business Incubation Association. Tech 2020 was recently recognized by the University Business Incubator Index as one of the nation’s top four incubators and one of the top six internationally. For more information, visit Tech2020.org.

Copyright 2015 Oak Ridge Today. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Filed Under: Business, Front Page News, Oak Ridge Tagged With: Center for Entrepreneurial Growth, Economic Development Administration, EDA, entrepreneurs, Kevin Kragenbrink, Partnership for Opportunity and Workforce and Economic Revitalization, power, POWER Planning grant, Tech 20/20, U.S. Department of Commerce

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

More Business News

Kairos Power begins construction on demonstration reactor​

Kairos Power has started construction on a test nuclear reactor in west Oak Ridge. The Hermes Low-Power Demonstration Reactor is the first of its type to be approved for construction by the U.S. Nuclear Regulatory … [Read More...]

Learn about Oak Ridge history during World War II

You can learn more about the history of Oak Ridge during World War II during a free national park walk through Jackson Square on Thursday, July 18. The walk is offered by the Manhattan Project National Historical … [Read More...]

Legal Aid Society presentation at Lunch with League

Two representatives of Legal Aid Society of Middle Tennessee and the Cumberlands will be featured at Lunch with the League in Oak Ridge on Tuesday. The two representatives are Mary Michelle Gillum and Paula Trujillo. … [Read More...]

UT Arboretum Society has spring plant sale in April

The University of Tennessee Arboretum Society will have its annual plant sale in Oak Ridge in April. It's the 57th Spring Plant Sale, and it's scheduled for April 12 and 13 at the UT Arboretum at 901 South Illinois … [Read More...]

Three students, schools selected for ORNL FCU art, mural program

Three students and schools have had their art work selected for the ORNL Federal Credit Union's Community Art and Mural Program. Introduced in 2017, the Community Art and Mural Program was created to support … [Read More...]

More Business

Recent Posts

  • Flatwater Tales Storytelling Festival Announces 2025 Storytellers
  • Laser-Engraved Bricks Will Line Walkway of New Chamber Headquarters
  • Democratic Women’s Club to Discuss Climate Change, Energy and Policy
  • Estate Jewelry Show at Karen’s Jewelers Features Celebrity Jewelry
  • Keri Cagle named new ORAU senior vice president and ORISE director
  • ORAU Annual Giving Campaign exceeds $100,000 goal+ORAU Annual Giving Campaign exceeds $100,000 goal More than $1 million raised in past 10 years benefits United Way and Community Shares Oak Ridge, Tenn. —ORAU exceeded its goal of raising $100,000 in donations as part of its internal annual giving campaign that benefits the United Way and Community Shares nonprofit organizations. ORAU has raised more than $1 million over the past 10 years through this campaign. A total of $126,839 was pledged during the 2024 ORAU Annual Giving Campaign. Employees donate via payroll deduction and could earmark their donation for United Way, Community Shares or both. “ORAU has remained a strong pillar in the community for more than 75 years, and we encourage our employees to consider participating in our annual giving campaign each year to help our less fortunate neighbors in need,” said ORAU President and CEO Andy Page. “Each one of our employees has the power to positively impact the lives of those who need help in the communities where we do business across the country and demonstrate the ORAU way – taking care of each other.” ORAU, a 501(c)(3) nonprofit corporation, provides science, health and workforce solutions that address national priorities and serve the public interest. Through our specialized teams of experts and access to a consortium of more than 150 major Ph.D.-granting institutions, ORAU works with federal, state, local and commercial customers to provide innovative scientific and technical solutions and help advance their missions. ORAU manages the Oak Ridge Institute for Science and Education (ORISE) for the U.S. Department of Energy (DOE). Learn more about ORAU at www.orau.org. Learn more about ORAU at www.orau.org. Like us on Facebook: https://www.facebook.com/OakRidgeAssociatedUniversities Follow us on X (formerly Twitter): https://twitter.com/orau Follow us on LinkedIn: https://www.linkedin.com/company/orau ###
  • Children’s Museum Gala Celebrates the Rainforest
  • Jim Sears joins ORAU as senior vice president
  • Oak Ridge Housing Authority Receives Funding Assistance of up to $51.8 Million For Renovating Public Housing and Building New Workforce Housing
  • Two fires reported early Friday

Search Oak Ridge Today

Copyright © 2025 Oak Ridge Today