The Partnership for New York City and the New York City Economic Development (NYCEDC) Corporation have announced that the New York City Investment Fund (NYCIF) will provide up to $1.25 million for the BioAccelerate NYC Prize. The BioAccelerate NYC Prize is the first citywide competition targeting commercialization of the extensive biomedical research conducted in New York.

The BioAccelerate NYC competition is looking to fund translational research related to therapeutics, devices and diagnostics that can direct clinical care. As a key part of its evaluation, BioAccelerate NYC will consider the commercial market potential, specifically: 1) whether the technology would be able to attract venture or other commercial capital, assuming this translational funding produced positive results; and 2) whether the technology could support the growth of an independent enterprise over time. Some of the target activities include:

* Medicinal chemistry/early toxicology work
* Screening to produce reference compounds
* Support to move research from in vitro to in vivo

The following technologies are not eligible for BioAccelerate NYC funding: R&D related tools, reagents and assays, equipment-based imaging, or diagnostics that do not direct clinical care.

Click here for more details on the application process.