Pitt plans to give early-stage life sciences startups a place to turn ideas into businesses with its first startup facility.\u00a0<\/p>\n
The Board of Trustees on Sept. 25 approved a $20 million life sciences startup \u201cincubator\u201d that will provide laboratories, equipment and workspaces for young life sciences and medical technology companies. Located at 3343 Forbes Ave., construction of the facility will start soon, and it is anticipated to open in approximately two years.\u00a0<\/p>\n
The building currently houses the Center for Social and Urban Research.<\/a> To develop and operate the facility, Pitt will be working with Wexford Science and Technology<\/a>, a real estate development and investment company that builds mixed-use innovation spaces and research hubs.<\/p>\n Pitt has explored establishing a facility like this for many years, according to a university spokesperson. The project is intended to address a gap in support for companies that are just starting out before they begin to expand. The spokesperson said the incubator will help the local life sciences network, which includes Pitt facilities and many others in the region.<\/p>\n Rob Rutenbar, senior vice chancellor for research, said during the board meeting he has \u201cbig hopes\u201d for this project, describing his ambitions to attract startups beyond Pittsburgh.\u00a0<\/p>\n \u201cThis is a regional play. I would like Penn State\u2019s startups to come here. I\u2019d like Ohio State\u2019s startups to come here,\u201d Rutenbar said.<\/p>\n The building\u2019s final layout is still under development, according to the spokesperson. Pitt expects it to include wet and dry laboratories<\/a> and equipment necessary for life sciences research. Companies will have to apply for access, and accepted applicants will have to sign lease agreements.\u00a0<\/p>\n According to Wexford\u2019s chief community officer Travis Sheridan, the incubator would include collaborations among life sciences, health care and technology.\u00a0<\/p>\n \u201cMuch like the geographic confluence of the three rivers, this facility will leverage the intellectual confluence of the Pittsburgh region,\u201d Sheridan said. \u201cWhile there will be focus on the life sciences, that scope gets broadened to include the convergence of life sciences, health care and technology that is defining Pittsburgh\u2019s innovation ecosystem.\u201d\u00a0\u00a0<\/p>\n Sheridan believes the incubator will strengthen Pitt\u2019s reputation as a center for biotechnology and innovation. By providing operational support and opportunities for collaboration, the facility could help entrepreneurs focus on developing their business and scientific discoveries.\u00a0<\/p>\n \u201cA facility like this sends a strong signal within the region and outside of it that Pittsburgh is open, collaborative and ready for business when it comes to driving innovation,\u201d Sheridan said.<\/p>\n He also said scientific and technological innovation requires collaboration across institutions. The facility aims to bring together university researchers, entrepreneurs, corporations and community members who can contribute to different areas.\u00a0<\/p>\n \u201cThe biochemist from Pitt needs to collaborate with the computer scientist from CMU,\u201d Sheridan said. \u201cThe startup needs testers, and the community can play a role shaping innovation as early adopters.\u201d\u00a0<\/p>\n According to Sheridan, the company has an already-established relationship with Pitt by working with it on The Assembly,<\/a> a 350,000 sq. ft. research and innovation center in Shadyside. Wexford hopes the incubator will strengthen their relationship with Pitt and help researchers turn scientific discoveries into strong businesses.\u00a0<\/p>\n \u201cThe University of Pittsburgh is a top research enterprise and aligns well with Wexford\u2019s belief that innovation is a process to improve the human condition,\u201d Sheridan said. \u201cThe incubator is an important and natural way to expand our partnership with Pitt.\u201d\u00a0<\/p>\n