Genome BC has invested $600,000 into the entrepreneurship@UBC (e@UBC) program. The program is designed to help UBC entrepreneurs build sustainable, scalable ventures based on UBC innovation.
“Genome BC has a long history of supporting genomics research and development, with many of their projects resulting in the commercialization of genomics related innovations,” says Sean Lumb, Director of e@UBC’s Life Science venture portfolio. “In particular, genomics technologies are digitizing biology and enabling solutions to challenges across economically important sectors. Since its inception Genome BC has invested over $375 million into genomics innovations at UBC, making them an ideal partner for building out a life sciences stream within e@UBC.”
Genome BC and e@UBC will be working together to translate research outputs, related to genomics and life sciences, into social and economic benefits. This initial 24-month partnership includes the establishment of a life sciences program and seed fund at e@UBC with the goal of creating commercially viable business models and converting life science innovations into new ventures. Genome BC’s investment at e@UBC is contributing what new companies need the most: qualified advice through mentors and entrepreneurs, and early stage risk capital.
“Genome BC has assisted 38 companies in the last 15 years,” says Dr. Gabe Kalmar, Vice President Entrepreneurship and Commercialization at Genome BC. “With e@UBC’s programming and mentorship now focusing on life sciences, entrepreneurs can rapidly iterate the development of a viable business model and accelerate their venture creation and formation of new companies.”
To optimize the social and economic benefits realized through 15 years of genomic investment, Genome BC is increasing its support of entrepreneurial activities to help stimulate jobs through the creation and growth of small to medium-sized enterprises (SMEs). This includes partnering with established accelerators and incubators including the BC Technology Industry Association (BCTIA) and Interface Health to support creation and growth in life sciences.