City of Peoria Press Release
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Construction Begins On BioScience Incubator in Peoria
The incubator is the result of a unique collaboration between the City of Peoria, BioAccel and Plaza Companies. It will be known as BioInspire™
3/22/2012
Similar to the typical business incubator, BioInspire™ will
offer first-class working space, technical/business assistance and collaborative
opportunities. Unique to BioInspire™ is its focus on medical devices and, most
importantly, that qualified tenants may receive up to $300,000 for working
capital and/or free or greatly reduced rent. “It was important that BioInspire™
be designed in a way to advance new technologies, attract new companies, and to
also facilitate their creation and growth.
Due to the high risk, it is difficult for early stage companies to find funding,
and it is just as difficult for technologies to be validated through the
important proof of concept phase. BioInspire™ does just that, by supporting a
technology pipeline as well as critical funding when a new company needs it
most,” said BioAccel CEO MaryAnn Guerra. The facility is located on the Plaza
del Rio Campus, a 180-acre “medical hub” featuring 400,000 square feet of
medical and healthcare offices and outpatient centers along with 1,000 beds of
various components of senior living options.
The campus will provide an environment for the growth of companies once they
leave the incubator. BioInspire™ consists of 6,800 square feet divided into four
individual laboratories, one larger common laboratory (a unique feature
providing laboratory access to tenants that do not require an individual lab),
ten offices of various configurations providing for flexibility, a break room
where tenants can connect and a shared conference room. Plaza Companies is
working with Cawley Architects and HRW Builders on the build-out of BioInspire™.
Sharon Harper, President & CEO of Plaza Companies, said the team is excited to
get started on this critical project. “BioInspire™ is a game-changing entity for
the City of Peoria, and we are proud to have it housed on the Plaza Del Rio
Campus,” she said. “Our team is committed to building a first-class facility
that will truly serve as a job creator and an innovation hub for the community.”
Learn more at - www.peoriaed.com
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