Navigation Links
QB3 and JPMorgan Chase Announce Breakthrough Collaboration
Date:10/30/2013

SAN FRANCISCO, Oct. 30, 2013 /PRNewswire-USNewswire/ -- QB3, a state institute that connects private industry with more than 220 scientists at UC San Francisco, UC Berkeley and UC Santa Cruz, today announced a new partnership with JPMorgan Chase to promote biotech innovation in San Francisco.

JPMorgan Chase awarded $200,000 to fund an entrepreneurship program manager position at QB3's new biotech incubator. The grant will also fund internships at the center to assist students from economically disadvantaged neighborhoods in their efforts to enter the biotech industry.

The gift will allow QB3 to expand its programs and facilities to support entrepreneurs and thus help to develop the innovation corridor between the San Francisco neighborhoods of Mission Bay and Hunter's Point.

"QB3@953 is our first incubator designed from the ground up to provide everything entrepreneurs need to get successful biotech companies going," said Regis Kelly, director of QB3. "A professional, full-time manager will handle the day-to-day needs of the entrepreneurs and will guide the interaction with the local community. If our incubator prospers in a region that has lost most of its manufacturing jobs, it could provide a national model for disadvantaged neighborhoods. We are grateful to JPMorgan Chase for making this possible."

Alice Rodriguez, California Region Manager of Chase Business Banking, said, "JPMorgan Chase is committed to doing our part to assist in the economic development of the communities we serve. We are excited to work with such an innovative collaboration and we look forward to the results of QB3's efforts as they spur economic growth in the region."

The manager, who has yet to be hired, will manage the property, handle environmental health and safety concerns and screen tenants. He or she will organize social events and workshops for incubator companies, as well as open houses for the community, including local high schools.

JPMorgan Chase's gift will also enable QB3@953 to hire interns from economically disadvantaged neighborhoods. Because startup companies often expand quickly, the interns will be well-placed to take advantage of any employment opportunities that may emerge at the incubator.

QB3@953, located near the Mission Bay campus of the University of California, San Francisco, provides laboratory and office space for up to 30 life science startups. As in QB3's four other incubator sites in the San Francisco Bay Area, space is leased in amounts as small as a single research bench, making state-of-the-art laboratory space affordable for fledgling operations.

The incubator formally launched today with 23 companies already on board. Based on existing data from the QB3 incubator network, the startups will bring over $50 million in investments into the neighborhood each year.

About JPMorgan Chase

JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.4 trillion and operations worldwide. The firm is a leader in investment banking, financial services for consumers and small business, commercial banking, financial transaction processing, asset management and private equity. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers in the United States and many of the world's most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.

About QB3

QB3 is a cooperative effort among private industry and more than 220 scientists at UC San Francisco, UC Berkeley and UC Santa Cruz. One of four technology institutes created in 2000 by former California Governor Gray Davis, QB3 has a joint mission of supporting science, driving the California economy and transforming scientific research into public good.

Fundamental to the latter two missions are QB3's efforts to commercialize University of California science by creating mutually beneficial partnerships with industry and supporting innovative entrepreneurs. The effort has led to 54 bioscience startup companies currently in QB3's incubator network. QB3 also operates Mission Bay Capital, an $11.3M seed-stage venture capital fund designed to support UC startups. For more information on QB3, visit www.qb3.org.


'/>"/>
SOURCE QB3
Copyright©2012 PR Newswire.
All rights reserved

Related biology technology :

1. BioNano Genomics Announces The Purchase Of The Irys System By The Chinese Academy Of Sciences And Tel Aviv University
2. Genufood Energy Enzymes Corp. Announces $20 Million Equity Purchase Agreement
3. Fingerprint Cards Purchases Key Wireless Patents
4. TSI and DICKEY-john Purchased New Trade Show Displays from GLM Displays
5. Intercept Pharmaceuticals Announces Completion of Public Offering and Exercise of Option to Purchase Additional Shares
6. Tesla Wardenclyffe Laboratory Purchased For Museum
7. Purchase College Unveils New, NSF-Funded BioLab Suite
8. MGC Diagnostics Corporation Announces Special Cash Dividend and Extension of Stock Repurchase Program
9. AbbVie Declares Dividend and Announces Share Repurchase Program
10. Venaxis Executes First Commercial Development Agreement and Receives Purchase Order from EMELCA Bioscience for Initial EU Launch
11. United Therapeutics Announces Additional $420 Million Share Repurchase Program
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:7/31/2020)... ... ... eSource has long been touted as the solution to high data management and monitoring ... did not take off as quickly as people initially expected, and where eSource is ... data electronically for clinical trials and then repurposing it for downstream analysis, at a ...
(Date:7/18/2020)... ... ... “We are thrilled to deliver this new technology to the industry” said Matt Hundt, ... market and we were pleased that the IFT jury recognized that.” reFRESH™ couples the ... natural way to extend the shelf life and improve the safety of perishable foods ...
(Date:7/10/2020)... KONG (PRWEB) , ... July 09, 2020 , ... ... compound called 1-phenyl-2-thiourea (PTU) is commonly used to suppress pigment formation in zebrafish ... the PolyU research team led by Dr MA has been using the zebrafish ...
(Date:7/1/2020)... ... June 29, 2020 , ... The Interlocal Purchasing ... to its membership, recently named BioFit Engineered Products an Awarded Vendor. ... purchase ergonomic seating, cafeteria tables, book trucks and carts at discounted pricing without ...
Breaking Biology Technology:
(Date:8/26/2020)... , ... August 25, 2020 , ... ... manufacturing solutions for drugs, biologics, cell and gene therapies, and consumer health products, ... Annual PEGS Boston Virtual Conference & Expo, taking place between Aug. 31 – ...
(Date:8/23/2020)... Texas (PRWEB) , ... August 21, 2020 , ... ... Rigaku Corporation has been published and is now available on the ... crystal X-ray diffraction—serves the X-ray analysis community, presenting current news and crystallographic research. ...
(Date:8/21/2020)... ... August 19, 2020 , ... ... and SalivaBio LLC, businesses dedicated to Salivary Bioscience for more than twenty years. ... published book by Springer, " Salivary Bioscience: Foundations of Interdisciplinary Saliva Research and ...
Breaking Biology News(10 mins):