The University City Science Center’s new Phase 1 Ventures incubator recently landed $50,000 as part of a Small Business Administration accelerator competition, but it’s not the dollar figure that made Christopher Laing’s day.
“More importantly for us, this is great recognition for the program,” said Laing, the Science Center’s vice president of science and technology.
The incubator — which focuses on long-term growth projects centered on biotech, pharmaceuticals, health care, energy and medical technologies — was joined by Carlisle-based FranklinTechcelerator as two Pennsylvania-based incubators that secured the award, part of $3.4 million doled out to 68 accelerators as part of the SBA’s Growth Accelerator Competition.
The competition stems from a partnership the SBA launched with the National Institutes of Health, the National Science Foundation and the Department of Education in 2014 to bolster connections between small businesses and entrepreneurs, boost job growth and encourage innovation in areas where entrepreneurism is in need of greater support.
The involvement of the NIH is of particular importance to Phase 1, given its area of expertise.
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