The Nebraska Innovation Hub Act

The Nebraska Legislature passed, and the Governor signed, Legislative Bill 450 during the 2022 Legislative Session creating the Nebraska Innovation Hub Act. The Legislature declared that Innovation hubs could serve as a vital resource for stimulating and supporting entrepreneurship and technology based small businesses in Nebraska. The Nebraska Department of Economic Development (DED) designates innovation hubs within iHub areas to stimulate partnerships economic development and job creation by leveraging iHub partner assets to provide an innovation platform for startup businesses, economic development organizations, business groups, and venture capitalists.

District 1: Fermentation Collaborative

Location: 801 R Street, Lincoln, NE 68508
Focus: The Fermentation Collaborative seeks to improve the workforce for biotechnology in Nebraska by addressing the need for employees with fermentation experience.

District 2: Omaha Innovation Hub

Location: 2514 N. 16th Street, Omaha, NE 68110 & 5417 N. 103rd Street, Omaha , NE 68134
Focus: The Omaha Innovation HUB assists in the identification, integration, and assessment of innovative concepts and emerging and enabling technologies and capabilities in support of local universities, colleges, entrepreneurs and the North Omaha community.

District 2: The Julian and Brittany Young iHub

Location: 6825 Pine Street, Omaha, NE 68106
Focus:  The Julian and Brittany Young iHub mission is to inspire economic well-being through entrepreneurial action, advocacy, and education.

Job creation through rapid technology commercialization is a vital part of the state’s economic well-being.  Innovation and technology-driven entrepreneurial activity coupled with venture investment creates small business startups and expansions at an accelerated rate, which leads to significant employment opportunities that contribute to the state’s financial health and economic competitiveness.  In order to maintain a healthy state economy and to aid communities, entrepreneurship and technology-based small businesses must be stimulated and supported. 

The Nebraska Innovation Hub Act seeks to:

1. Stimulate partnerships, economic development, and job creation and support entrepreneurship and technology-based small businesses in Nebraska.
2. Accelerate entrepreneurial activity coupled with venture investment
3. Increase employment opportunities with start-ups and technology-based small businesses

LB 1024 (2022) directed DED to provide $30 million of grant funding for innovation hubs meeting certain criteria. However, LB 164 (2024) removed this authorization and transferred $30 million to the Inland Port Authority Fund “for the purpose of creating and operating an innovation district by an inland port authority and for any other purpose.” That fund is administered by the State Treasurer.

Period of Performance: Each iHub designation shall be for a term of five years.
Anticipated Award Date: Applications were considered and designated in 2023.

• Nebraska Innovation Hub Act Designation Application and Program Guidelines