Wedge Biotech Accelerator Awarded $50,000 in SBA Funding

(Originally posted on August 16, 2016)

Tacoma’s Wedge Biotech Accelerator Awarded $50,000 in SBA Funding

Tacoma, Wash. – Supporting the City of Tacoma’s efforts to grow the biotech field in Tacoma, the U.S. Small Business Administration (SBA) announced that the planned Wedge Biotech Accelerator, which is projected to open at 2304 Jefferson Ave. in the Brewery District near University of Washington Tacoma by early winter of this year, will receive $50,000 in funding. University of Washington Tacoma is the City’s premier partner in this endeavor, and this funding will help support the consolidation of research assets in the local area into a shared lab space. It is also projected that the planned Wedge Biotech Accelerator will serve as a space where high school and college students can work to develop lab skills.

“This investment in Tacoma by the SBA will enhance our approach to biotech research and ultimately move ideas to market,” said Tacoma Mayor Marilyn Strickland. “Partners such as Joint-Base Lewis McChord and MultiCare will help us leverage patient data to accelerate our work in areas including water quality, health care and clinical trials and more.”

“Innovation and a pioneering spirit are strong values here in the Pacific Northwest, which is one of the reasons small businesses thrive in our region,” said SBA Regional Administrator Calvin Goings. “The local SBA Growth Accelerator Fund Competition winners represent a foundation and support system to help local innovators turn their ideas into realities. We’re honored to support their work through this and other SBA programs.”

“It is exciting for the City of Tacoma to help drive investment momentum by working with our federal and state partners to leverage the community resources that we have,” said City of Tacoma Community and Economic Development Director Ricardo Noguera. “The planned Wedge Biotech Accelerator will give local residents an opportunity to work with experts in the field as they develop companies, create new jobs and bring more prosperity to our great city.”

More information about the City of Tacoma’s Community and Economic Development Department is available at cityoftacoma.org/invest. More information about accelerators and the SBA’s Growth Accelerator Fund Competition is available at sba.gov/accelerators.

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Visit the original article on the City of Tacoma website here.