LA County's strategy to support local biotech startups

In a recent article reporter Rachel Uranga of dot.LA explores the efforts and investments made by the County of Los Angeles to grow the bioscience ecosystem in Los Angeles, including its recent $15 million matching loan to MarsBio, a venture fund focused on early stage bioscience startups.

"It's a big signal to the community that L.A. values innovation here," said Llewellyn Cox, general partner at MarsBioVC. "This is a different way of doing economic development. It's much more cost effective, making surgical efforts to spur industry,"

The article also explores the recent investments in the LABioSpace incubator and the idea that these investments are part of a solution to the critical problem. Even though LA is home to prolific research, advocates of the LA bioscience ecosystem found that in the past, without local early stage funding and support, many startups would leave the region. Early stage funding and robust incubator facilities are key elements of a vibrant and thriving ecosystem.

Dave Whelan, our CEO is quoted in the article as saying, "this is long in the works, overdue show of broad support from the public sector to invest in early stage startups.”

Check out the article here.