The University City Science Center received a grant that will help existing accelerators to improve innovation in national health security.
The Biomedical Advanced Research and Development Authority (BARDA), which operates as an entity of U.S. Department of Health and Human Services, provided the grant, which is a part of BARDA’s new Division of Research, Innovation and Ventures (DRIVe).
DRIVe, which operates as a public/private partnership model and has been implemented in eight accelerators nationwide, is intended to incentivize investors in developing solutions for potential health security threats.
“We are thrilled to join this exciting initiative,” said Curtis Hess, Interim President and CEO of the University City Science Center in a press release. “From proof-of-concept to business growth and seed investment, the Science Center’s acceleration capacity can meet the needs of emerging technologies through multiple stages. We are proud that BARDA recognizes the value of our acceleration programs that benefit early-stage companies throughout Pennsylvania, New Jersey and Delaware, as they progress through the commercialization spectrum.”
The University City Science Center is a huge driver of innovation in the Greater Philadelphia region and has leveraged more than $688 million in commercialization and accelerator programs to date.