If you've no account register here first time
User Name :
User Email :
Password :

Login Now

GE, Eli Lilly, Celgene Partner with NYC, Launch Biotech Fund

The New York City Economic Development Corporation has partnered with Celgene, GE Ventures and Eli Lilly to create a biotech fund called the Life Sciences Funding Initiative.

The city will put in $50 million and says by leveraging at least that amount in matching funds, the partnership will deploy a minimum of $100 million and seek to launch 15 to 20 biotech ventures by 2020.

NYCEDC says a selection process is underway to identify the initiative’s anchor venture capital partners, which will be selected by the city. The city will make its selections in early 2014 and expects the Life Sciences Funding Initiative to make its first investments in mid-2014.

Earlier this year the SUNY College of Nanoscale Science and Engineering (CNSE) acquired the landmark Kiernan Plaza in downtown Albany, NY, in a bid to create a hub for smart cities technology companies. The $30-million CNSE-led initiative, identified as a priority project by Gov. Andrew M. Cuomo’s Capital Region Economic Development Council (CREDC), will position New York as a global leader in this high-tech industry, Cuomo says.

Leveraging EHS Software in Support of Culture Changes
Sponsored By: VelocityEHS

  
Just the Facts: 8 Popular Misconceptions about LEDs & Controls
Sponsored By: Digital Lumens

  
The EHS Guidebook: Selecting, Implementing, and Using EHS Software Solutions
Sponsored By: EtQ

  
Planning for a Sustainable Future
Sponsored By: Dakota Software

  

Leave a Comment