Thursday, November 23rd, 2017

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St. Louis Plans $1 Million Startup Incubator

Fledgling life sciences companies will have a new home in St. Louis.A $1 million startup incubator is being planned for St. Louis, Missouri, the St. Louis Business Journal reports this week.

Two nonprofits – the Coalition for Plant and Life Sciences and the BioGenerator – are opening a 5,400-square-foot facility to help support science companies. The building will comprise 13 individual offices, shared lab space and both biology and chemistry labs – and it will feature "costly but vital shared equipment that individual entrepreneurs and start-up companies simply cannot afford," in the words of the BioGenerator.

The St. Louis Business Journal notes that the CPLS and the BioGenerator won a $1 million, two-year federal grant last month to fund life science startups. Their efforts will tap into St. Louis' academic know-how; the city is home to Washington University, the University of Missouri-St. Louis and Saint Louis University.

Around the country, incubators are helping small companies get off the ground. Some, like those run by NYU-Poly in New York City, focus on tech companies; others, like the one established by nonprofit Bethesda Green in the Washington, D.C. area, provide support to green businesses.

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