Biotech startups require special infrastructure, which requires a lot of investment. Since this keeps biotech startups at bay, UC Riverside has come up with a facility that might actually encourage the development of these startups.
Dubbed as the Wet Lab Incubator, this research and development facility will allow 15 biotech startups to materialize their ideas. Many biotech startup firms in the Inland Empire region have expressed interest, and one of them has signed a lease agreement. The Wet Lab Incubator is the first of UC Riverside’s initiatives that will allow startups to grow and expand in the IE region. The incubator is funded combinedly by the US Economic Development Administration, the state of California, and internal UC Riverside funds.
Mentorship and Grant Opportunities
The incubator will not only provide research space for the startups but will also help the employees connect with mentors at UC Riverside. This adds value to the startups and their projects since they would be able to get all the professional help required from pioneers in the biotech field.
Rosibel Ochoa, the associate vice chancellor for technology partnerships, said that the incubator would be “a vibrant entrepreneurial space” in the Inland Empire region. He also mentioned that it provides “the whole package, access to capital, specialized mentorship, and a place to grow”.
The mentorship and access to capital would be provided by the UC Riverside Entrepreneurial Proof of Concept and Innovation Small Business Development Center. The incubator residents will also get authorized access to the university’s nanofabrication cleanroom, proteomics, stem cell core and plant transformation via a service agreement. They would be able to attend seminars, workshops and also have access to research patents.
Residents will also have the opportunity to learn the process of applying for grants from the Federal government since they will get access to the university’s SBIR/STTR Resource Center.