Sid Martin incubator honored as year's best
Published: Wednesday, April 10, 2013 at 4:12 p.m.
Last Modified: Wednesday, April 10, 2013 at 4:12 p.m.
The University of Florida's Sid Martin Biotechnology Incubator was named 2013 international Incubator of the Year by the National Business Incubation Association after one of its graduate companies landed a major defense contract and three companies were acquired in multimillion-dollar deals.
Associate Director Patti Breedlove said the award caps “a cascade of really good news over the last eight months. We've had our best year ever.”
The incubator helps companies formed to commercialize UF biotechnology research in a 40,000-square-foot facility in Progress Corporate Park in the city of Alachua. It is currently home to nine resident companies and 14 affiliated clients. Since opening in 1995, 28 companies have graduated out of the incubator or been acquired by other companies.
Incubator companies have received more than $1 billion in funding and have an annual economic impact of $100 million in Alachua County, UF said in a news release.
Last month, the Department of Defense granted graduate company Nanotherapeutics a contract that could be worth as much as $360 million over 10 years to build a drug development and manufacturing facility in Alachua.
Alachua-based Pasteuria Bioscience announced in September that it was being acquired by Swiss agribusiness giant Syngenta for $113 million.
Other recent graduate acquisitions include Celunol Inc. for $98 million and EraGen Biosciences for $34 million.
The award was announced this week at the association's international conference in Boston. Association Membership Director Randy Morris said the awards are based on an incubator's record of success and financial footing for future success.
The Sid Martin incubator also won one of two Dinah Adkins Incubator of the Year awards for technology incubators.
Reader comments posted to this article may be published in our print edition. All rights reserved. This copyrighted material may not be re-published without permission. Links are encouraged.