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BioInspire, a program of BioAccel, is located in Peoria, Arizona, and is designed in partnership with the City of Peoria to help support qualifying bioscience entrepreneur start-up companies while diversify the city’s economy. BioInspire is the only medical device incubator in Arizona providing wrap-around start-up resources to early-stage companies qualifying to participate in BioAccel’s commercialization programs.
- BioInspire is located near Thunderbird Road and 94th Avenue in a 7,000 square-foot facility that includes wet/dry lab space as well as office space.
- BioAccel has accelerated development of 12 early-stage biomedical device companies with start-up operations located at BioInspire.
- To date, these companies have created an aggregate of more than 45 jobs within their organizations.
- BioAccel has issued $2.4 million in seed funding for early-stage development for companies at BioInspire. This early-stage seed funding has resulted in the companies obtaining a total of more than $14 million in additional downstream funding from other investment sources.
Currently, the following seven companies actively are engaged in start-up business operations at BioInspire.
- Arizona Medical Systems
- OmniBioceutical Innovations
- Hildeez Recovery Garments
- BioVenture Services
Building Peoria’s business pipeline through deal scouting and competition
BioAccel has an active program to constantly recruit new companies to BioInspire. BioAccel currently launched BioNexus, focused on recruiting companies already in the West Valley as a future potential pipeline to the BioInspire program. BioAccel currently is reviewing six applications possible future support and residence at BioInspire.
In addition, BioAccel’s new innovation competition, BioWest NEXUS, is currently open for West Valley entries. This competition will lead to finalists being selected for potential early-stage funding support.
BioWest Nexus is designed to stimulate the entrepreneurial community in the West Valley and provide the early stage resources and guidance needed for companies to successfully commercialize their medical technologies. If you or someone you know has an innovative idea in the MedTech field and live in the West Valley – we want to hear about it!
Rolling applications open August 15th and close November 30th. Up to three awards will be issued to viable companies.
Goals of the event include:
- Engaging entrepreneurs in the West Valley,
- Identifying early stage medical technology companies in the West Valley, and
- Providing early-stage resources to med-tech companies in the West Valley.
- Have a med-tech oriented product that is in the proof of concept or commercialization phase of the product life cycle,
- Have employees who reside in the West Valley
- Be ready to start or grow the business at BioInspire with the integrated support of BioAccel.
Winners will receive one free year of lab and office space at BioInspire, as well as up to $25,000 in proof of concept funding. Furthermore, the successful completion of the NEXUS program will qualify winners for BioAccel’s seed funding programs.