Attracting and Supporting the People Who Turn Research into Reality
Breakthrough discoveries can save or change lives. They also ignite the creation of new businesses and generate ideas that expand already-existing companies. To promote industry expansion, it's important that the Memphis Bioworks® Foundation fully support the entrepreneurial process in order to keep that growth in the area.
In 2007, the Memphis Bioworks Foundation launched Innova. Innova invests in early stage, dynamic companies that have the potential to grow into significant economic contributors. The organization focuses on technology and defensible service companies based in Memphis – including Medical device, Biotechnology, AgBio, Logistics and other bioscience sectors. Initial investments by Innova have been in companies focused on taking research developed in Memphis and preparing it for market.
Beyond financial investment, Memphis Bioworks Foundation is also developing the laboratory and incubator space required by entrepreneurs. The 20 South Dudley Building already houses numerous start-ups and support organizations. And, the integration between education, incubation, research and new business is a critical component of the continuing development of the UT-Baptist Research Park.
By creating an environment where bioscience thrives, so will our economy. For example, the Memphis Bioworks Foundation considers GTx, a Memphis-based biopharmaceutical company, as the embodiment of its goal to commercialize the research that is taking place locally. Four promising clinical programs, along with the company's discovery pipeline, create attractive long-term commercial opportunities for GTx. And for Memphis, too.
So, if you're a scientist or entrepreneur and need help with the sometimes daunting process of getting grants, transferring technology, acquiring capital, or starting a business, we can help.