A Newark based network management company aimed at creating jobs in Delaware has been given a million dollars by the state’s Council on Development Finance.
SevOne was launched by the University of Delaware graduates in conjunction with the school system’s Science, Technology and Advanced Research program.
The Delaware Strategic Fund Performance grant of $956-thousand will give SevOne between $4-thousand and $7-thousand for each new job the company creates.
The money is tied to a job’s starting salary.
Another $90-thousand grant will provide money for the company’s new facilities.