German biotechnology firms can win space and services in a U.S. business incubator

27-May-2003
The Fairfax County Economic Development Authority (FCEDA) and two German biotechnology groups, Munich-based BioM AG and BioTOP Berlin Brandenburg, are holding a competition to help German biotech companies expand into the U.S. market around Washington, D.C. The deadline for entries is Saturday, May 31. The winning firm will get a free year of space and business development services-a 50,000 Euro ($55,000) package - in the Fairfax County BioAccelerator, a new bioscience business incubator minutes from Washington. A panel of experts with backgrounds in biotechnology, venture capital and the law will evaluate the entries. The winning firm will be announced in September. "Germany is the largest biotech market in Europe, but the U.S. is the biggest market in the world and Fairfax County is uniquely situated for companies because of its proximity to Washington, D.C., the U.S. food and Drug Administration and the National Institutes of Health," said Gerald L. Gordon, president and CEO of the FCEDA. "This is a great opportunity for a German company to expand abroad far ahead of its normal schedule." The FCEDA also is holding a competition for British biotech firms to win space in the BioAccelerator. Entries in that competition are due by July 21st.

Other news from the department research and development

Most read news

More news from our other portals

Fighting cancer: latest developments and advances