Innovation and creative entrepreneurship is complex in the biotechnology and medical device industry. In many industries, the business incubator or accelerator provides business education and support, mentorship, coworking space, and access to investors and partners. Businesses who develop through their early stages in a business incubator have the knowledge and support network for a successful launch.
While fledgling biotech businesses also need the business education and mentorship of an incubator, they have research and development needs specific to their business, and that means complex and expensive laboratory space. The experiment and testing phases of creative development are going to be longer and more complex. Several business incubators have addressed the challenges of the biotech industry by developing incubators specific to this field.
The Fitzsimons Redevelopment Authority (FRA) in Aurora, Colorado has developed an industry-leading environment for innovative life sciences businesses. Located adjacent to the Anschulz Medical Campus in Aurora, the Fitzsimons BioBusiness Incubator nurturs small businesses in the life sciences. They have both predeveloped laboratory space and office space, as well as business education and mentoring. The FRA has recently developed a new business accelerator so maturing businesses who have graduated from the incubator can look for venture capital and other funding.
The San Jose Biocube provides business mentorship, high quality coworking space, and most important, state of the art laboratory facilities, with the option to develop unique laboratory facilities within the complex as the business develops. They work with business ideas and fledgling businesses in the life sciences, nanotech, and cleantech fields.
The Biocube has an interesting model of on-site partners for business resources such as legal, HR, and accounting and finance.
The program was originally funded in 2000 by the San Jose Redevelopment Agency to stimulate regional economic development and encourage job growth and development.
Xomix is a Chicago-based incubator and venture capitalist working in the biotech sector. They specialize in the commercialization of successful biotech. Accelerator Corp, based in Seattle, is leveraging partnerships with research and higher education to develop the biotech innovation and development field in the Pacific Northwest. Bio, Tech, and Beyond is a life science incubator in San Diego. There are a number of business accelerator programs in Europe, as well.
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