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FOR IMMEDIATE RELEASE
February 1, 2010
Contact: Wendell C. Williams (254) 743-6960 |
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Temple Bioscience Accelerator created
- Office designed to bring bioscience businesses to Central Texas - |
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Temple, Texas – February 1, 2010 – A memorandum of understanding was signed today by eight partners, setting in motion the creation of the Temple Bioscience Accelerator, a key component for new business development in the region.
"We are moving forward on the plan, and keeping the promise made to Temple voters, said Wendell Williams, chairman of the Temple Health & Bioscience Economic Development District. This MOU is a concrete display of the partners commitment to establishing the Accelerator, and making it a success."
The Temple Bioscience Accelerator will help bioscience companies to partner with area health care institutions to develop products. It will provide labs and offices to house the companies, and lead companies to financial resources needed to sustain and grow those companies.
Signing the MOU were officials from the eight partner organizations supporting the Accelerator: the Temple Health & Bioscience Economic Development District, the City of Temple, Scott & White Healthcare, Central Texas Veterans Health Care System, Temple College, Texas A&M University System Health Science Center, Texas A&M University System HSC College of Medicine Temple Campus, and Texas A&M University System, Texas AgriLife Research.
"We will find companies that will enter into long-term relationships with Temple health care institutions, said Bob Schatz, PhD, the interim director of the accelerator. This accelerator will connect companies with resources we already have in place."
The Temple Health and Bioscience District was created in 2003, the first of its kind in Texas. The organizers intent was to establish a business-friendly hub for medicine, medical research and technology, develop new industry and add new jobs to benefit the region.
As a part of this MOU the participating entities continue to commit resources and talent toward the success of the district. One key component is establishing a leadership group with teams to evaluate business opportunities, match those businesses to the district's research and development assets, and then coordinate delivery of services to the companies.
Participating entities will use project management systems, resembling those used in industry, and conduct research and development for industry partners by standards acceptable to industry. This approach is not common in academic organizations. The ability of firms to use assets already in place in the institutions, and the prospect of forming alliances with health care systems to commercialize products and services, are compelling reasons for bioscience companies to locate and flourish in Temple.
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