Governor Hochul Announces More than $15 Million in Awards Through the New York State Biodefense Commercialization Fund
Governor Kathy Hochul announced the first round of awardees of the $40 million New York State Biodefense Commercialization Fund. The program was created to accelerate the development and commercialization of life science innovations that address serious infectious disease threats including COVID-19 and its variants, while also creating jobs and encouraging continued growth across New York’s expanding life science industry. Upon board approval by Empire State Development, eighteen grants will be awarded for a total grant commitment of $15,292,418.
Startup companies developing promising diagnostics, vaccines, therapeutics, and other innovations to prevent, treat or mitigate serious infectious disease threats were invited to apply for grants of up to $4 million. New York's academic research institutions also were able to apply for grants of up to $500,000 to help fast track advanced intellectual property in life sciences.
Financial support is not the only way the fund will help accelerate commercialization efforts. More than 40 mentors with deep expertise in entrepreneurship and in biopharmaceutical development and commercialization have been recruited by the fund to assist grantees in advancing their technologies toward commercialization. This customized guidance will be invaluable in facilitating a successful path forward for both innovation development and company growth.