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Monrovia Assemblymember's Innovation-Promotion Bill Passes Legislature

A bill to expand the state's iHub innovation network has been approved by the Legislature and now goes to the Governor for his signature. Assembly Bill 250 is by Assemblymember Chris Holden, who represents Monrovia.

It establishes the California Innovation Hub (iHub) Program and creates an iHub Accelerator Fund in the state treasury to accept private sector funding to operate the program.

The fund will allow the state to compete for grant funding from the federal government, private sector and foundations to encourage innovation.

Source: Holden press release

- Brad Haugaard

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