Innosphere Ventures, Colorado BioScience Association and
Denver, CO, Feb. 17 10, 2022 (GLOBE NEWSWIRE) — Innosphere Ventures, Colorado BioScience Association (CBSA), and Colorado BioScience Institute (The Institute) today announced plans to launch a comprehensive incubator program for life science startups with support of the State of Colorado. Colorado’s Office of Economic Development and International Trade (OEDIT) released earlier today the names of the winners of their 2022 Business Accelerator Grant for Advanced Industries, which included the Science Incubator Program of life proposed by Innosphere, the CBSA and the Institute.
The publicly funded Life Sciences Incubator Program will provide startups developing or commercializing life-saving technologies, products, devices and breakthroughs with the combined expertise and knowledge of the three organizations. Participants will have access to Innosphere’s leading incubation program for entrepreneurs, CBSA resources and programs, which are designed to create a collaborative environment and business climate conducive to life science innovation, as well as the Institute’s expertise in educational programs specific to the life sciences.
“This is an exciting partnership with the CBSA and the Institute to support early career life science founders through this one-of-a-kind life science incubation program. said Mike Freeman, CEO of Innosphere. “There hasn’t been a better time for healthcare innovation, so this is a great opportunity for tech founders, academic researchers, and physician entrepreneurs who are ready to accelerate their startup’s progress.”
Innosphere, CBSA and The Institute will launch the first cohort in 2022, with the aim of selecting ten life science startups developing promising innovations that could save and change lives. A second incubator program will be launched in 2023. With state funding, the one-year incubator program will be offered at minimal cost to companies selected for the cohort.
“The Colorado BioScience Association is thrilled to spur the growth of the most promising start-ups in our community and support the startups in our ecosystem with this new incubator,” said Elyse Blazevich, President and CEO of Colorado BioScience. Association and the Colorado BioScience Institute. “We thank our partners at OEDIT for recognizing the future impact of a comprehensive incubator program for life science startups and the Colorado State Legislature for continued funding of grant programs and tax credits for advanced industries.
The Advanced Industries Business Accelerator Grant provides funding to Colorado programs that have developed or are developing programs for start-up businesses in advanced industries in the state. State funding will allow founders of ten selected life science companies to participate in the year-long Innosphere-led incubator, become a member of the Colorado BioScience Association, with access to more than 30 educational and networking opportunities each year, and fully funded participation in The Institute’s Foundations of Leadership or Executive Leadership programs.
“Life science leaders from Colorado’s best-known companies, institutions and organizations have advanced their careers and expanded their networks through our executive leadership programs,” said Meg John, vice president of the Colorado BioScience Institute. “We are delighted to build on the strong track record of these highly regarded programs and welcome participants to the new Innosphere, CBSA and CBSI incubator. »
Innosphere and Colorado BioScience Association are also looking to continue the full incubator beyond the two-year state-funded period. A Colorado coalition, led by Innosphere Ventures, is seeking $100 million in a U.S. Economic Development Administration (EDA) Build Back Better grant to develop the region’s R&D-intensive growth hub of the Front Range of Colorado. The Build Back Better proposal would rapidly scale local life science and clean technology industries. The Colorado Coalition grant offers five construction projects as well as a variety of non-construction projects, including: job growth in clusters, particularly focused on growing the black workforce and Latin X of the region; and incubate start-ups, especially by scaling up those owned by people of color. Ongoing funding for this incubation program is included in the proposal.
About the Colorado Biosciences Association
The Colorado BioScience Association (CBSA) is creating a co-opportunity for Colorado’s life science community. The CBSA champions a collaborative life sciences ecosystem and promotes a favorable business climate. From concept to commercialization, member companies and organizations are driving global health innovations, products and services that improve and save lives. The association directs capital and growth, education and networking, policy and advocacy, and workforce culture to make its members stronger, together. Learn more: cobioscience.com
About the Colorado BioScience Institute
Colorado BioScience Institute is a nonprofit organization that provides workforce development and STEM education programs to cultivate and diversify Colorado’s life science talent pool. The Institute offers educational programs for students and teachers, individuals and businesses that contribute to the overall workforce development efforts in our state. The Institute’s programs are aimed at students and teachers beginning in college and professionals at all stages of their careers. All of the Institute’s programs prepare students for careers in the life sciences or foster the growth of those already in the industry, providing the life sciences community with a highly skilled workforce .
About Innosphere Ventures