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News and Events > TTO Helps to Launch New BioBusiness Incubator
TTO Helps to Launch New BioBusiness Incubator
October 17, 2005
The University of Colorado is a leading biomedical research university, ranking among the top ten public research universities in annual National Institute of Health expenditures garnered by faculty to generate new research discoveries. Several of these discoveries have formed the basis for new companies to commercialize biomedical inventions from the University. In recent years, CU has become a leading generator of bioscience start-ups, ventures requiring significant investment of time, money, and expertise to meet the goal of commercializing technology by bridging the gap between academia and business.
To assist medical start-ups, TTO has entered into an agreement with the newly formed Fitzsimons BioBusiness Incubator (FBBi). FBBi is the only program specifically dedicated to building bioscience companies in Colorado. FBBi stakeholders include CU, the State of Colorado, the Colorado Bioscience Association, the Fitzsimons Redevelopment Authority, the Aurora Economic Development Council, the Metro Denver Economic Council, Adams County Economic Development Corporation, and the Bard Center for Entrepeneurship at CU.
FBBi is headquartered at Fitzsimons. By locating at the epicenter of Colorado's medical, research, and educational facilities, FBBi is poised to play a key role in building a regional bioscience industry and uniting the resources and network that Colorado's new companies need to compete globally.
FBBi assists entrepreneurial teams in all aspects of start-up creation. Beginning with initial phases of business planning, FBBi services target the entire progression of business development; including management and personnel, technical and scientific advisory services, intellectual property protection, and capital raising strategies, contacts, and facilitation. The technical experts and business professionals in FBBi's network are selected for their depth and bioscience domain specificity, bringing world-class talent to scientific and technical challenges. In the unique world of bioscience capital requirements and funding structures and horizons, FBBi guides new entrepreneurs with experience and insight, facilitating introductions and connecting companies with capital.
"FBBi is a start-up business," according to FBBi Director, David Drake, "and we're developing state-of-the-art processes that leverage best practices from other regions known for creating a steady stream of successful bioscience companies. There is an incredible pent-up demand for bioscience incubation services in Colorado and we exist to service that need." Drawing on a core group of highly skilled advisory board members who meet regularly to discuss opportunities and determine next steps, the program assesses opportunities, develops prototype business concepts and inventions, drafts commercial feasibility plans, and creates financing strategies. At each stage current needs are identified and each need is met with resources from FBBi's network. This model-analysis, leveraging the network, and strategic action-takes projects on a direct path from concept to commercial venture.
The FBBi business model and key location within the Fitzsimons Bioscience Park positions the program to leverage Colorado's immense bioscience resources to a focused end: Building new companies.
David Drake
Director
Fitzsimons BioBusiness Incubator
12635 East Montview Blvd.
Aurora, CO 80010
720.859.4100 office
720.859.4110 fax
ddrake@colobio.com
www.colobio.com/fbbi (coming soon)
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