BioSurplus recently had the pleasure of partnering with QB3 and attending the launch party for QB3@953, located at 953 Indiana Street in San Francisco – Near the UCSF Mission Bay Campus. Dawn Hocevar, Director – National Business Development, and Surya Karunakaran, Sales Associate, attended the QB3 launch party event in San Francisco on October 30, 2013.
QB3, also known as the California Institute for Quantitative Biosciences, has facilities at three University of California campuses in Santa Cruz, Berkeley, and San Francisco. QB3 is a joint effort between public and private sectors that offers lab space to new life science startups and we couldn’t be more excited to donate to and be a part of the groundbreaking of this new life-science space!
With 24,000 square feet of space and more than $500,000 in research equipment, QB3@953 is the fifth site location of the QB3 incubator space. This full service incubator provides the basic necessities required by entrepreneurs to turn scientific innovation into services and products. In addition to the space and equipment afforded to QB3 tenants, the group also offers a strong network of investors, mentors and entrepreneurs. This model of providing resources to biotech startups has really begun to take hold in the industry by offering affordable, specialized resources that can be rented one bench at a time.
“Startups are one of the best ways of turning breakthrough science into great products, but in the life sciences the high price of equipment and space means many great ideas never get a chance. We want to change that. We want to help entrepreneurial scientists change the world,” said QB3 Associate Director Douglas Crawford, PhD. “QB3@953 is custom-built for this purpose.”
What differentiates this startup accelerator from others is that QB3 will not make equity investments as a condition of residence. However, they QB3 does run an $11 million seed-stage venture fund in Mission Bay Capital that is willing to invest up to $200,000 in qualified start-ups. Along with a partnership with Janssen Labs, who is renting about 20% of the space for use as a corporate incubator, the QB3@953 incubator space is poised to do great things. The involvement from big-pharma really encourages open innovation and communication in order to create relationships between up-and-coming startups and the industry behemoths.
There are 62 start up companies currently in the program with 30 more coming into the new QB3@953 space. Mayor Ed Lee and the city of San Francisco have been very supportive of the incubator space as Mission Bay and Dog Patch continue to grow with many research labs and UCSF expansion. BioSurplus was one of several companies that donated lab equipment to QB3@953.
For more information on whats in store for QB3, please visit the QB3@953 website.