Fully-Equipped Wet Lab Incubator to Stimulate New Bioscience Company Formation
Posted: 04-08-2009 : WINSTON-SALEM, N.C.

WINSTON-SALEM, N.C. - Resources for emerging biotechnology companies have taken a major leap forward at the Wake Forest University Babcock Demon Incubator (BDI) Wet Lab in the Piedmont Triad Research Park, thanks to a Regional Development Grant recently awarded by the NC Biotechnology Center. The matching grant allows the BDI Wet Lab to substantially expand its low-cost, multi-user wet lab space and support six new biotechnology and bioscience companies annually.

According to Tom Clarkson, Director of BDI, "We are now open for business for inception stage companies, with a facility designed specifically for biotechnology and bioscience ventures that is fully equipped with anything a young company might need to develop business plans, validate scientific research, complete proof-of-concept or test a final product offering. Add to that an extensive and growing services network and a strategic downtown location in the Piedmont Triad Research Park, and you have a tremendous competitive advantage as a biosciencetech entrepreneur launching a company in North Carolina," Clarkson said.

The grant from the NC Biotechnology Center allowed BDI to upfit the existing BDI wet lab with the core lab equipment including microscopes, cell and tissue culture equipment, PCR, electrophoresis equipment, and freezers, all to be shared by multiple users. The total budget for the project is $105,955, with the BDI providing $35,739 in matching funds and $70,578 from the NC Biotechnology Center.

"Incubators like BDI are essential to developing entrepreneurs, to help them commercialize innovation from the lab to the marketplace. Having a full-service asset for business development is another piece of our biotechnology landscape for high-tech job creation," said Gwyn Riddick, Regional Director of the NC Biotechnology Center.

The overall goal of the wet lab project is to satisfy the regional need for biotechnology and bioscience-specific early stage incubation capabilities. By removing the capital cost of buying lab equipment, new ventures can more efficiently use grant or private equity funding to demonstrate scientific validity. As a company advances its technology, market risk is reduced and the potential to harness angel investments will greatly improve. Additionally, regional universities will benefit by having a ready resource to support spin-off companies and pursue SBIR/STTR funded research.

Building upon the success of the Wet Lab LaunchPad™, which is housed in the Richard H. Dean Biomedical Research Building, BDI will provide for a pipeline of companies who would become potential LaunchPad™ candidates for their next stage of development.

"Continuous innovation creates the framework for the future of PTRP," Bill Dean, PTRP Director said. "BDI sustains the process for a strong entrepreneurial eco-system by encouraging research and development."

Companies and entrepreneurs interested in the BDI wet lab will be selected to use the space based on the commercial viability of the idea, the potential for high growth, and the likelihood of success of the venture.

Companies or entrepreneurs with an idea or interest in the BDI Wet Lab should contact Tom Clarkson (tom.clarkson@mba.wfu.edu) for more information.