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June 13, 2018
PHILADELPHIA -- (June 13, 2018) – The Biomedical Advanced Research and Development Authority (BARDA), part of the Office of the Assistant Secretary for Preparedness and Response (ASPR), within the U.S. Department of Health and Human Services, has awarded the University City Science Center a grant of up to $500,000 over five years to join BARDA’s new Division of Research, Innovation and Ventures (DRIVe) Accelerator Network. The grant will augment the capabilities of the Science Center’s existing accelerator programs to identify and promote innovations in national health security.
DRIVe’s public-private engagement model is designed to accelerate innovation and incentivize investors and innovators to tackle health security threats, such as infectious diseases and sepsis. By partnering with the Science Center and seven other accelerators across the country, the DRIVe Accelerator Network plans to identify promising innovations and provide wraparound technical and business development support services.
“At a time when artificial intelligence and personalized medicine are not just conceivable but attainable, the time is uniquely now to solve some of the most daunting, far-reaching health security problems,” said Rick Bright, BARDA director.
Bright added that with the new network, startups and other businesses have a new pathway to bring ideas together, nurture them with experienced partners, and direct them to BARDA’s experts who have demonstrated success in partnering with private industry to take new ideas to regulatory approval.
“We are thrilled to join this exciting initiative,” said Curtis M. Hess, Interim President and CEO of the University City Science Center. “From proof-of-concept to business growth and seed investment, the Science Center’s acceleration capacity can meet the needs of emerging technologies through multiple stages. We are proud that BARDA recognizes the value of our acceleration programs that benefit early-stage companies throughout Pennsylvania, New Jersey and Delaware, as they progress through the commercialization spectrum.”
The Science Center acceleration and commercialization programs have a track record of achieving strong results:
About the Science Center
Located in the heart of uCity Square, the Science Center is a mission-driven nonprofit organization that catalyzes and connects innovation to entrepreneurship and technology commercialization. For 50+ years, the Science Center has supported startups, research, and economic development in the life sciences, healthcare, physical sciences, and emerging technology sectors. As a result, graduate firms and current residents of the Science Center’s incubator support one out of every 100 jobs in the Greater Philadelphia region and drive $13 billion in economic activity in the region annually. By providing resources and programming for any stage of a business’s lifecycle, the Science Center helps scientists, entrepreneurs and innovators take their concepts from idea to IPO – and beyond. For more information about the Science Center, go to www.sciencecenter.org