[Photo courtesy of University City Science Center]
The Economic Development Administration (EDA) has just awarded $1M for the continuation of a successful multi-institutional proof-of-concept program at Philadelphia's University City Science Center. The Science Center is the oldest (founded in 1963) and largest (15 buildings across 17 acres) urban research park in the US, according to its website, and is supported by 32 non-profit research units (including all of the major research universities) in the Greater Philadelphia Region.
The QED proof-of-concept program allows the Science Center to support early-stage life science academic research that shows strong promise of future commercialization. Venture capital is reluctant to fund new technology before it reaches a certain stage of "proof." The QED program gets research to the point where other grant and investment entities can take over. In addition to "plug-and-play" lab space, they offer:
- Business advice
- Assessment of market drivers
- Funding direction
- Exit guidance
Pennsylvania Senator Bob Casey spoke positively of the $1M grant and its effects:
"It will help the Science Center provide life science entrepreneurs with the assistance they need to get ideas from the laboratory to the marketplace, creating jobs and advancing an industry crucial to Pennsylvania's economic future."
There are 19 universities and research institutions in the QED program, including UPenn, Temple University, Thomas Jefferson University, Philadelphia University, and Children's Hospital of Philadelphia. When a project is approved for QED support, the Science Center puts up $100,000 and the sponsoring institution puts up a matching $100,000 for 12 months of R&D.
If you are a supplier of life science laboratory equipment or a researcher in the Greater Philadelphia Region, don't miss the opportunity to meet and network with other science professionals at one of the upcoming Biotechnology Calendar, Inc. Annual Philadelphia BioResearch Product Faire™ science trade shows:
- Thomas Jefferson BioResearch Product Faire™ Front Line Event on the Thomas Jefferson University Campus May 18, 2011
- Philadelphia BioResearch Product Faire™ Event on the University of Pennsylvania (UPenn) Campus May 19, 2011
