U.S. Small Business Administration announces BioAccel wins $50,000 growth accelerator fundingThursday, September 8, 2016
U.S. Small Business administration announces Bioaccel as winner of $50,000 Growth accelerator funding
Phoenix, AZ (Sept. 8, 2016) — BioAccel, a nonprofit organization dedicated to developing a robust bioscience start-up and investment ecosystem including entrepreneur development in Arizona, was selected to receive a $50,000 award from the U.S. Small Business Administration’s (SBA) Growth Accelerator Fund Competition.
The SBA Growth Accelerator Fund Competition was developed to draw attention and funding to parts of the country where there are gaps in the entrepreneurial ecosystem. The SBA received more than 400 applications and selected 68 winners nationwide. BioAccel was one of three successful applicants in Arizona, and is the only awardee based in Phoenix.
“This award provides capacity-building funding to develop the Southwest Commercialization Center,” said Ron King, Ph.D., co-founder and chief science officer for BioAccel, who will more fully develop the center concept, outline its curriculum and identify academic partnerships. “Once developed, this new center will focus exclusively on providing commercialization training and technical assistance to academic and healthcare institutions seeking to improve commercialization skills for students in higher education.”
Funds will support development of the center’s business plan and stakeholder network needed to launch a sustainable training organization. Activities will allow SBA to build upon its database of accelerators, as well as build long-term relationships with innovative entrepreneur communities.
“BioAccel is delighted to be recognized by the SBA for our distinct role in helping bioscience entrepreneurs increase their knowledge of the complex commercialization process, ensuring sustainability of Arizona’s early-stage companies,” said MaryAnn Guerra, BioAccel co-founder and chief executive officer.
BioAccel is the leading organization in the United States dedicated to developing a robust bioscience ecosystem including entrepreneur development, and creation of a validated pipeline of commercially viable bioscience technology to transform healthcare delivery. BioAccel’s mission is to work with qualifying entrepreneurs and their early-stage bioscience technology and medical device companies to identify start-up funding, as well as provide training and mentorship to accelerate commercialization, improve healthcare through innovation, and diversify economic development.
Since inception in 2009, BioAccel has supported the launch of 17 game-changing healthcare device companies through early-stage funding, mentoring, and training, filling an unmet need in Arizona’s emerging bioscience sector. BioAccel has helped bioscience entrepreneurs successfully navigate the “Valley of Death,” while creating healthy communities through vanguard bioscience solutions and supporting Arizona economic growth.