A new collaboration aims to fuel biotech startups in Fort Worth and in North Texas by filling in knowledge gaps to transform breakthrough research into successful businesses, organizers said.<\/p>\n
Nonprofit incubator TechFW will shortly unveil its strategic partnership with BioNTX, the life sciences and biotech industry association.\u00a0<\/p>\n
The first component of the collaboration is the launch of ThinkLab On Demand, Tech Fort Worth\u2019s online entrepreneurship program created with Texas Women\u2019s University.\u00a0<\/p>\n
The goal is to address a critical gap in foundational startup education for biotech entrepreneurs, said Eric Moore, chief communications officer at BioNTX.\u00a0<\/p>\n
\u201cA lot of our early-stage entrepreneurs are in need of resources as they grow,\u201d he said. \u201cThey tend to lean on shared experiences. This gives them another tool.\u201d\u00a0<\/p>\n
The biotech and life sciences sector requires specialized knowledge not only in science and technology but also in the fundamentals of building a viable business, he said.\u00a0<\/p>\n
\u201cTech Fort Worth\u2019s expertise in startup education, combined with our understanding of the life sciences landscape, creates a powerful resource for founders who are transforming breakthrough research into commercial ventures,\u201d Moore said.\u00a0<\/p>\n
BioNTX is a bioscience and health care innovation trade organization in the area and an affiliate of the Biotechnology Innovation Organization in Washington, D.C.<\/p>\n
\u201cThis partnership represents exactly the kind of collaborative ecosystem-building that makes North Texas such a powerful region for innovation,\u201d said Caitlin McMinn, executive director of TechFW. \u201cBy combining BioNTX\u2019s deep expertise in life sciences with Tech Fort Worth\u2019s proven track record in startup education, we\u2019re creating a stronger foundation for biotech entrepreneurs at the most critical stage of their<\/p>\n
journey \u2014 the ideation phase.\u201d\u00a0<\/p>\n
While life sciences and biotech are not often considered key parts of the North Texas economy, the area\u2019s total life sciences and biotech labor pool has increased by 17% to 26,000 workers since 2019, surpassing the average national growth of 13.7%, according to a 2023 report from real estate firm CBRE<\/a>. The region\u2019s research and development employment has also increased 44.5% in that time, according to the report.\u00a0<\/p>\n In 2023, the life sciences and biotechnology industries in North Texas received a shot in the arm when the region was awarded federal designation<\/a> as the Customer Experience Hub for the Advanced Research Projects Agency for Health<\/a>.\u00a0<\/p>\n The designation brings federal funds and programs as well as attracts talent to the area\u2019s growing biotech and life sciences industries.\u00a0<\/p>\n The partnership between TechFW and BioNTX was formalized through a memorandum of understanding that creates reciprocal benefits for members of both organizations and establishes TechFW as the official pitch practice partner for BioNTX\u2019s IC\u00b3 summit.\u00a0<\/p>\n \u201cEntrepreneurs building businesses, particularly in the biotech space, may not have the skillset required for pitch presentations to help fund their plant,\u201d said McMinn. \u201cWe have expertise in that.\u201d\u00a0<\/p>\n The iC\u00b3 summit brings together industry leaders, researchers, investors, and innovators to look at the future of health care and life sciences in the area. The next summit is scheduled<\/a> for Sept. 24-25 at the Loews Arlington Hotel & Convention Center.\u00a0<\/p>\n Bob Francis is business editor for the Fort Worth Report. Contact him at bob.francis@fortworthreport.org.\u00a0<\/p>\n