Memphis Bioworks FoundationMemphis Bioworks Foundation
This year's featured leaders illustrate medtech's ability to adapt and thrive in an ever-changing business environment.
September 1, 2008
BUSINESS PLANNING & TECHNOLOGY DEVELOPMENT
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The nonprofit is leading an effort to establish Memphis as a globally recognized center for the development and commercialization of bioscience technologies. To accomplish this, the foundation has focused its efforts on developing world-class facilities, promoting venture capital, and creating a collaborative bio-community.
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Memphis Bioworks has 34,600 sq ft of incubator space, 68% of which has been built out, while the remaining 32% is under construction. There are currently 10 companies taking advantage of the facilities, including InMotion Musculoskeletal Institute, a not-for-profit orthopedic research lab seeking to translate innovative concepts into treatments to reduce disabilities while improving mobility for patients.
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Memphis Bioworks is also leading the development of the University of Tennessee-Baptist Research Park, where a regional biocontainment lab and a college of pharmacy are under construction. A 40,000-sq-ft vivarium that complies with FDA good laboratory practices and the first of five research and office buildings that will contain 200,000 sq ft of space are currently in design. When completed, the research park will have nearly 1.3 million sq ft and will be at the center of the redevelopment of the Memphis Medical Center complex, which will also include housing, retail, and abundant green space area.
Innova Memphis, an early seed venture fund created by , is focused on the support of entrepreneurial efforts to advance the region's biosciences field. The venture has currently funded three projects, including a medical device start-up. To date, Innova has reviewed more than 100 proposals for initial capital and incubator space for research and development.
Strategic partnerships are essential to building a thriving bioscience center. To advance the region's bioscience goals, Memphis Bioworks works closely to integrate local universities with many leading biomedical and medical corporations, including Medtronic, Smith & Nephew, Wright Medical, St. Jude Children's Research Hospital, Medical Education & Research Institute, contract machine shops, and multiple orthopedics-related clinical care institutions.
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