Industry Expertise: Biosciences
State Initiatives & Incentives
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Iowa
- The Iowa Values Fund, totaling $503 million, provides financing to help move and grow Iowa’s economy, create jobs, and help generate wealth for Iowans. This fund is comprised of five main components: Business Development and Assistance, University Research and Development, Workforce Training, Quality of Life and School Infrastructure.
- Financing is available through Iowa’s Value-Added Agricultural Products and Processes Financial Assistance Program and the Community Economic Betterment Account and Economic Development Set-Aside Program.
- Commercialization and business development support is available from the Center for Advanced Technology Department and John Pappajohn Centers for Entrepreneurship. This program, called Entrepreneurial Ventures Assistance, offers technical and financial assistance to eligible start-up and early-stage enterprises.
- The Iowa Fund of Funds for venture capital investment provides for the establishment of a designated rate of return on investment for investors. This is offset with contingent tax credits up to $100 million.
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Minnesota
- Governor Pawlenty signed into law historic pieces of bioscience legislation. The Governor’s Biosciences Initiative helps to position the state to become a world leader in the industry.
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Wisconsin
- As manager of one of the largest pension funds in the world, the State of Wisconsin Investment Board (SWIB) has investment opportunities around the globe.
- The Technology Development Fund program provides financing for R&D projects with good commercial potential and the Technology Development Loan program provides financing for working capital equipment purchased for commercialization efforts and market entry and expansion.
- Commercialization and business development support is available through the Office of Science and Technology at the Wisconsin Department of Commerce, the Small Business Innovation Research and Small Business Technology Transfer programs and the Wisconsin Innovation Network Foundation.
- Plans call for the development of a $317 million BioStar project on the University of Wisconsin-Madison campus. Over the next eight years, there are plans for this project to contain four biomedical research facilities.
- The Wisconsin Alumni Research Foundation (WARF) is one of the top technology transfer organizations in the country. In 2001, WARF ranked 11th out of 143 U.S. universities in royalties and other license income collected on university disclosures.
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