DOVER, Del. – The Delaware Division of Small Business and BioConnect DE have announced details for the STEM Talent Advancement and Retention Fund.
According to the Delaware Division of Small Business, officials are partnering with BioConnect DE, an initiative of the non-profit Delaware Center for Life Science Education and Training.
Officials say the STAR Fund will provide tuition reimbursement awards of up to $6,000 for student loans. The Delaware Division of Small Business says the awards aim to incentivize, retain and attract graduates who are currently employed or are considering employment in the STEM fields.
“Developing and retaining a world class STEM workforce is the highest priority for the life science industry in Delaware and the STAR Fund will be an important tool in keeping great research and business talent here in our state,” said the Center for Life Science Education and Training Chair Chairman Michael Fleming.
The portal to submit applications opens on Monday, July 14, and ends Thursday, July 31. The Delaware Division of Small Business says awards are expected to be announced in October.
To qualify for the STAR Fund program, applicants must hold a STEM-related associate, bachelor’s, graduate or post-graduate degree from an accredited postsecondary institution. Officials say preference is given to graduates of Delaware colleges and universities.
Eligible applicants must also be employed full-time, at least 35 hours per week, by a Delaware-based employer. Qualifying employers must meet at least one of the following criteria:
- Have their principal place of business in Delaware
- Employ at least 51 percent of their workforce at a Delaware location
- Be registered to conduct business in Delaware and have reported Delaware tax liability in the previous year
Further, officials say applicants must work in one or more approved fields including:
- Life, natural or environmental sciences
- Computer information or software technology
- Advanced mathematics or finance
- Engineering
- Medical device technology
The STAR Fund provides tuition reimbursement of up to $1,000 for an associate degree, $4,000 for a bachelor’s degree and $6,000 for graduate or post-graduate studies. Awards are available for up to four consecutive years but cannot exceed the total amount of loan expenses incurred.
The program is supported by $100,000 in funding through the 152nd General Assembly’s Grant-in-Aid Bill.