OBI becomes the 12th incubator in the Portland metro area
On Wednesday, June 19, the state’s first and only incubator for bioscience business was unveiled at a grand opening reception on the Willamette River in Portland.
OTRADI, a non-profit organization whose mission is to fuel the bioscience sector by attracting and growing jobs, is behind the new facility located just a few blocks from the South Waterfront Development. OTRADI will move next door to the new incubator as well.
With space for six companies and three offices already taken by fledgling bioscience startups AbSci, Aronara and 13therapeutics, the OTRADI Bioscience Incubator offers hundreds-of-thousands of dollars worth of shared scientific equipment to its resident companies, according to OTRADI Executive Director Jennifer Fox. “The cost of bioscience is high,” said Fox, “so our facility offers critical services and equipment to help startups grow.”
According to Fox, the bioscience sector currently employs 13,000 people across the state of Oregon, a 50% increase since OTRADI was founded in 2007.
Oregon State Treasury Secretary Ted Wheeler, who toured the incubator, said, “This facility represents a commitment to biosciences that will ensure we continue to stay on the cutting edge.”
Wheeler cited OEN’s recent Benchmark Survey, which reported that jobs and revenue are growing among startups who take part in OEN programs (see OEN Benchmark Survey results here). Wheeler added, “If you want to grow jobs and opportunities, you have to cultivate your own local businesses. The six companies that will occupy this incubator will create more bioscience jobs in Oregon.”