Incubator Events Support Small Business Development
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Incubator Events Support Small Business Development
I recently talked with Melinda Richter, executive director of the San Jose BioCenter, and we spoke about bioincubation in California and what the BioCenter is doing to help young companies bring better therapies to market sooner.
The BioCenter has a regular Meet with... series where small early stage companies are matched with larger enterprises to source funding and get insider information on the commercialization process. As a result the Meet with... series has made the BioCenter the largest repository for matching early stage companies and large funding agencies, anywhere.
Also, the BioCenter provides real world lessons for small companies in terms of legal, HR, accounting, and other regulatory issues. Like this afternoon's meeting at Orrick where the topic of discussion will be business survival and how that can impact a young company's decision making process.
Funding is always a major concern for any organization. The San Jose BioCenter assists their clients with sourcing support and making their business profitable in the long term. Some sources of funding for an early stage company include: financial foundations, government agencies, venture capitals and larger corporations.
The BioCenter focuses on 4 core priorities for business development.
Compliance, it is very important that companies are aware of and obey the law. This has a wide reaching effect when a company is considering licensing agreements, their day to day operations with payroll and staff relationships as well as term sheets when considering any kind of progression.
Safety, the BioCenter maintains safety at a premium, with standard operating procedures, hazardous materials and the business plan, the BioCenter has a safety committee to train and support tenant companies in regards to hazardous materials.
Policy, it is important that even young companies with small staffs behave like a large corporation. Efficiency is very important to managing and reducing waste. So the BioCenter helps their companies develop and utilize the existing intranet to maximize the use and return of resources.
Effectiveness, Success is very important to the functioning of a business. Partnerships can go a long way to establishing an effective and successful business. The BioCenter promotes and coordinates partnerships with industry organizations, legal entities, marketing groups, distributors and material suppliers. Efficiency of pitch and outlook are included in this core priority for business development.
More events are coming up at the San Jose BioCenter, including Meet with Merck, September 24; Meet with Genentech, October 22; as Well as Meet with Nycomed in November; and Meet with Johnson and Johnson in December.
Visit the San Jose BioCenter www.sjbiocenter.com
The 40,000 square foot San Jose BioCenter provides business and facility services to solvent, compelling, technology companies with identifiable IP assets in the fields of the life sciences, nanotech or cleantech. The BioCenter is a partnership between the City of San Jose, San Jose State University Research Foundation and Prescience International. Since the BioCenter's inception in 2004, incubated companies have raised $800 million in capital and injected more than 600 high technology jobs into the local economy.
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Luminogenics is a resource with interests in systems of technology commercialization in the life sciences. Included here is a directory of hundreds of biotech incubators, research parks, and associations.
