UF business incubator recognized internationally
GAINESVILLE, Fla. — In an international contest, the University of Florida’s biotechnology business incubator was named the second best of its kind for 2007. The incubator assists newly created life science companies by providing physical space, equipment, logistical guidance and connections with prospective investors.
UF’s Sid Martin Biotechnology Development Incubator captured second place in the technology category of the National Business Incubation Association’s annual Incubator of the Year award program. The NBIA is the world’s leading organization in the advancement of business incubation. Winning the award was the Montpellier Business and Innovation Center in Montpellier, France.
To qualify for the award, an incubator must have on-site management; provide a full range of business development services; and have a policy that provides support for graduating companies.
The award was presented Tuesday at the NBIA’s 21st international conference in Seattle.
“We are very pleased with this recognition,” said incubator manager Patti Breedlove. “UF helped pioneer bio-business incubation — a customized process for assisting the growth of young life science companies. These companies are transforming university discoveries into products that benefit us all.”
UF’s incubator was established in 1995 and was one of the nation’s first biotechnology incubation programs. It is housed in a 40,000-square-foot structure in Alachua, Fla., complete with animal and fermentation facilities and a greenhouse.
The incubator has 11 current clients, and 19 others have successfully passed through the program and become self-sufficient businesses.
Applied Genetic Technologies Corp., a recent graduate of the incubation program, is an example of the success the incubator has enjoyed. The small, high-tech company licenses UF technology for gene therapy and is conducting research for new drugs. The company took advantage of all of the incubator’s resources and raised $26.45 million in investments.
“In the NBIA ranks, we are recognized as one of the best biotech incubators around and frequently when they have inquiries about incubating biotech industries, the NBIA sends people to talk to me,” Breedlove said.
- Jay Goodwin
- Joe Kays, email@example.com, 352-392-8229