It seems that more scientists are becoming entrepreneurs, a trend that is growing rapidly within our industry. To help the cause, Deerfield management in New York announced its investment of $635 million in the field of Biotech. Allowing scientists and anyone interested in starting a biotech company to fast track their ideas to a startup. The funding is said to last till 2030 for research and development of new treatments. The company also plans to develop its enormous campus to incubate biotech startups. Along with the development of labs on the campus, the development of computer labs and other services is also underway.
Among many services provided by Deerfield, an incubator known as MATTER is also looking after startups and will help new and fresh companies in many aspects related to finance, new technology and trends, human resource and legal processes. It will help startups in addressing obstacles and hurdles by providing adequate mentorship and collaborations with other companies. The campus is planned to open in 2021, with the cooperation of NYCEDC with Deerfield, the campus will create 1400 new jobs.
Involvement of NYCEDC:
New York City Economic Development Corporation (NYCEDC) has been working for two decades to attract employers and entrepreneurs to New York. The city has invested more than $92 million in life-science opportunities and careers. NYCEDC, along with Deerfield, are determined to bring more than 5000 job opportunities with new investments. NYCEDC will not only create tremendous job opportunities but also improve the quality of research by bringing high-end equipment and innovative minds of talented entrepreneurs.
Over the years, developers, including Deerfield Management, Silverstein Properties, Taconic Investment Partners, and Alexandria Real Estate Equities, have stepped up their efforts to create new space and opportunities for biopharma and other life-science companies.
According to the NYCEDC, the Deerfield campus will be the first New York initiative to provide investments to startups over the course of a decade, and opening job opportunities for over 16,000. Occupying more than 3 million square feet for the establishment of new space for Biotech companies. Deerfield was amongst the first companies to respond to NYCEDC’s request to help create a life science hub. According to reports, Deerfield has settled $540 million for the development of its new Big-Apple campus under the financing of Blackstone Real Estate.
The Blackstone Real Estate has previously invested in similar areas; life science, real estate, BioMed Realty. Its development plan included renovating of 97,000 square feet of space. So it is no doubt that Deerfield’s Big-Apple campus is in safe hands.
Deerfield takes the initiative in partnership with NYCEDC is remarkable. Investment in Entrepreneurship, especially in Life-Science, will turn out to be very fruitful in the future. The amount of skill, innovation, and high-end technology will surely prove to be very productive for the research in Biotechnology. It would help use modern equipment and knowledge to overcome many problems and curing many diseases that are still considered to be cure-less. Along with the advantages mentioned, it would also open a vast number of jobs and internship programs, encouraging more people to opt for this field.