The City has received $1 million in federal funding to establish the Center of Innovation & Entrepreneurship, an initiative designed to boost Irvine's innovation economy. The funding was secured by Irvine's Congressional Representative, Dave Min.

City officials say that the Center will connect entrepreneurs, investors, researchers, and ecosystem partners; accelerate early-stage venture development; reduce barriers to innovation-driven entrepreneurship; and expand access to capital, education, and technical resources.

The goal is to create more high-wage local jobs, more career opportunities for local students, and a stronger pipeline of companies choosing to start and stay in Irvine.