Starting up a biotech company is risky business. Fortunately, there are bright, determined people willing to take that risk in hopes of developing an innovative medical, industrial or agricultural application.
Fortunately, too, there are plenty of local, state, and federal legislators who recognize the value of supporting entrepreneurial innovators. A case in point is Startup America, an alliance of entrepreneurs, corporations, universities, foundations, and other leaders who work together to support high-growth, potentially job producing companies. To date, the program has mobilized well over $1 billion in business services that is expected to support as many as 100,000 startups over the next few years.
Since the 1980s the number of incubators has grown into the thousands in the United States alone. Success is still not a guarantee for these incubator companies, but there is plenty of evidence to support the notion that these tax-payer funded programs are well worth the investment.
The Santa Fe Business Incubator (SFBI) has been one of those success stories. Thanks to its proximity to Los Alamos National Laboratory and several research universities, SFBI has supported a variety of entrepreneurs that have created more than 100 businesses.
After years of planning, SFBI has just opened a new lab that provides state-of-the-art equipment for early stage biotech companies in Northern New Mexico. By providing companies access to specialized lab equipment, the BioScience Lab alleviates one of the most challenging aspects faced by biotech start-ups, the tremendous cost associated with purchasing tools and instruments needed to conduct research.
This facility represents a major step in the growth of New Mexico’s biotech community. Andrew Salazar, President of The New Mexico Biotechnology & Biomedical Association, had this to say about the milestone:
“This newest biotech-equipped laboratory will help accelerate advances in an already highly connected community that’s bringing together the research power of the state’s universities, federal laboratories and research institutions with our entrepreneurial and established business community to create new companies, grow existing ones and attract more out-of-state businesses.”
For more information, read this news release on the opening of the BioScience Lab.