{"id":293185,"date":"2026-07-11T13:35:18","date_gmt":"2026-07-11T13:35:18","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ny\/293185\/"},"modified":"2026-07-11T13:35:18","modified_gmt":"2026-07-11T13:35:18","slug":"bioventure-elab-secures-1-5-million-state-grant-to-broaden-weill-cornell-entrepreneurial-ecosystem","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ny\/293185\/","title":{"rendered":"BioVenture eLab secures $1.5 million state grant to broaden Weill Cornell entrepreneurial ecosystem"},"content":{"rendered":"

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\"Bioventures<\/p>\n

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image:\u00a0<\/p>\n

BioVenture eLab entrepreneurial program event.<\/p>\n

view more\u00a0<\/a><\/p>\n

Credit: Reece Taylor Williams<\/p>\n

Weill Cornell Medicine has received a four-year, $1.5 million grant from New York\u2019s\u00a0Empire State Development<\/a>\u00a0to increase resources available through BioVenture eLab, the institution\u2019s hub for biomedical entrepreneurship. The grant is among the first the state has awarded through its\u00a0New York Global Entrepreneurs Program<\/a>, which was established last year to attract innovative life sciences entrepreneurs to launch or expand their businesses in New York.<\/p>\n

BioVenture eLab aims to generate entrepreneurship and commercialization opportunities from within the academic medical institution\u2019s community with the state funding. It will also enable BioVenture eLab to recruit international founders in-house to help kindle enterprise expertise among Weill Cornell Medicine faculty and trainees.<\/p>\n

\u201cThe grant allows us to combine resources from New York state as well as resources from Weill Cornell and the greater Cornell ecosystems to bring inventions that can impact patients to market,\u201d said BioVenture eLab Director Loren Busby.<\/p>\n

BioVenture eLab is not new to nurturing entrepreneurs. As an essential component of\u00a0Weill Cornell Medicine Enterprise Innovation<\/a>, its long-standing entrepreneurial programs transform scientific and clinical research originated from the institution into viable commercial launches.<\/p>\n

\u201cWe\u2019re thrilled to be among the awardees of this inaugural grant. Enterprise Innovation\u2019s mission closely aligns with New York state\u2019s vision to bolster an innovation culture and economy,\u201d said Dr. Lisa Placanica, senior managing director of the Center for Technology Licensing at Weill Cornell Medicine. \u201cThe expertise international talents can offer to our institution and the New York biomedical innovation ecosystem as a whole will further support our mission to translate the best of biomedical innovation into products and services as well as accelerate New York as a growing biotech hub.\u201d<\/p>\n

“As New York builds on its position as a leading global hub for life sciences and technological innovation, attracting the world’s most visionary founders is essential,” said Ben Verschueren, executive director of Empire State Development’s Division of Science, Technology and Innovation (NYSTAR). “Through the New York Global Entrepreneurs Program, we are providing international innovators with the state-of-the-art resources and collaborative environment they need to succeed and make a lasting impact on the life sciences ecosystem in New York and around the world.”<\/p>\n

Through the grant, BioVenture eLab could bring on board up to seven global entrepreneurs\u2014about one to two each year\u2014who have ventures within various life sciences sectors such as therapeutics, medical devices, digital health or care delivery and are working on a cross-section of modalities and technologies.<\/p>\n

An advisory committee with international expertise will work with BioVenture eLab to select the entrepreneurs based on the robustness of existing scientific data that underpins their ventures; their go-to-market strategy; whether their venture addresses an unmet medical need; and even how their idea works within a reimbursement perspective. But critically, Busby and the team want to know how these international entrepreneurs can best leverage existing Weill Cornell and New York state resources, such as licensing Weill Cornell technologies from its portfolio or utilizing manufacturing resources available at the state level.<\/p>\n

Selected global entrepreneurs will apply for H-1B visas, allowing them to spend at least two years as part-time employees of BioVenture eLab. They will engage in BioVenture eLab\u2019s educational programs and community events as part of their part-time role. For their businesses, they will be required to reach prescribed milestones and matched with Weill Cornell and potentially external advisors on research and commercialization plans for their ideas. Busby hopes to have the program\u2019s first cohort in place by early to mid-2027.<\/p>\n

\u201cThe point is to develop a greater life sciences ecosystem in the state by enriching the environment with experienced, international leaders with attractive businesses or product ideas that will economically contribute over the long-term.\u201d she said.\u00a0<\/p>\n

Busby stated that exposing faculty and trainees to global entrepreneurs helps them gain a valuable viewpoint on the current global regulatory and healthcare landscape. For those looking to build companies that might stretch internationally, that perspective is very important, she said.<\/p>\n

\u201cThis will definitely enhance our insights and shared resources for how healthcare works around the world,\u201d she said. \u201cThat\u2019s what I’m hoping these global entrepreneurs will bring through lectures and peer-to-peer mentoring to the researchers and clinicians with whom we work.\u201d<\/p>\n

Disclaimer: AAAS and EurekAlert! are not responsible for the accuracy of news releases posted to EurekAlert! by contributing institutions or for the use of any information through the EurekAlert system.<\/p>\n","protected":false},"excerpt":{"rendered":"image:\u00a0 BioVenture eLab entrepreneurial program event. view more\u00a0 Credit: Reece Taylor Williams Weill Cornell Medicine has received a…\n","protected":false},"author":2,"featured_media":293186,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[9,11,10,49,51,50],"class_list":["post-293185","post","type-post","status-publish","format-standard","has-post-thumbnail","category-new-york","tag-new-york","tag-new-york-headlines","tag-new-york-news","tag-new-york-state","tag-new-york-state-headlines","tag-new-york-state-news"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/293185","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=293185"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/293185\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/293186"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=293185"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=293185"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=293185"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}