25, July 2013
A testament to the area's growing science and technology sectors, Alachua's Sid Martin Biotech Incubator was ranked “World’s Best University Biotechnology Incubator” in a Sweden-based research group UBI. The milestone sheds light on the possibilities of the University of Florida's Innovation Square, a technology community just down the road. Innovation Square's first building was the Florida Innovation Hub, an entrepreneurial incubator for ideas and companies emanating from the University of Florida.
The University of Florida built the Sid Marting Biotech Incubator back in 1995 to create a place for "bio-business". Honored as National Business Incubation Association’s 2013 Incubator of the Year, its companies and graduates have attracted more than $1 billion in equity investment, contracts, grants, and M&A activity
Below is an excerpt from UF News:
Photo from sidmartinbio.org
“Being recognized as world’s top biotech incubator is especially gratifying because UBI’s rankings are data-driven,” said incubator director Patti Breedlove.
UBI assessed more than 50 performance indicators including job creation, talent retention, access to funding, network enhancement and post-incubation relationships.
The report found that European incubators perform substantially lower than U.S. programs, despite spending more on operations and client seed funding.
European incubators grant their clients nine times as much seed funding but create 1.9 times fewer jobs and 2.8 times lower revenue per client per year.
Top incubators, like UF Sid Martin Biotech, create 2.8 times more jobs than the global average, according to the study.
“We couldn’t be more proud of the talented team at the Sid Martin Biotech Incubator. With their help, UF is producing an outstanding crop of bioscience companies” said David L. Day, director of UF’s Office of Technology Licensing.
The Texas-based Alliance for Technology and Entrepreneurship was named top global incubator overall. Other top incubators by sector were Ireland’s NDR Launchpad (information technology), and New York’s UB Technology (life sciences).
The full “Top University Business Incubators: Global Benchmark Report 2013” can be downloaded at ubiindex.com
TRIMARK PROPERTIES | STAFF | 25-JUL-2013