The BioWell Accelerator, a First Bight-Led initiative, Receives Prestigious Federal Grant
HOUSTON, Dec. 13, 2023 /PRNewswire/ -- The U.S. Economic Development Administration, a division of the U.S. Department of Commerce, has awarded $53 million for its highly competitive "Build to Scale" Grant program to enhances and promotes venture activity and entrepreneurship for regional economies. Only 60 organizations were funded out of the many applications received. The Houston-based First Bight Ventures, and the founder of BioWell, a nonprofit accelerator aimed at early-stage synthetic biology startups, was awarded $741,925.
- The Houston-based First Bight Ventures, and the founder of BioWell , a nonprofit accelerator aimed at early-stage synthetic biology startups, was awarded $741,925.
- "Startups at BioWell will gain access to a robust ecosystem, expertise, mentorship, and financial resources essential for successfully commercializing their bio-industrial innovations," said BioWell Executive Director Paul Palmer.
- BioWell is committed to offering startups key business and operational resources and face-to-face engagement with large corporations.
- Because BioWell is still in its infancy as an accelerator, it is actively trying to secure resources with the goal of opening a dedicated workspace.