Overview
The $40 million Biodefense Commercialization Fund was created to encourage and accelerate the development and commercialization of solutions for serious infectious disease threats, including COVID-19 and its variants, while fostering the creation of new life science businesses and supporting industry growth. The Fund has offered grants to startup companies and academic institutions that are developing promising diagnostics, vaccines, therapeutics, and such other innovations as epidemiological surveillance tools, environmental controls, and clinical care advances that address or mitigate infectious disease threats. For the current application period, New York State seeks applications focusing on the specific areas of interest highlighted below in the section titled Areas of Interest.
The Biodefense Commercialization Fund is intended to provide financial resources that will:
- Expand the state’s life science ecosystem to enhance employment opportunities;
- Bolster the ecosystem by identifying, developing, and supporting commercial advancement of promising scientific innovations that generate solutions in the critical area of infectious disease and pandemic resilience;
- Fast track advanced intellectual property (IP) from New York’s research institutions, accelerate the growth of companies across the state, and encourage companies from outside of New York to relocate to expand the state’s commercial life science industry;
- Increase the state’s resilience to broadscale infectious disease threats;
- Help to further position New York State as a safe, healthy place for people to live, work, and recreate; and
- Expand opportunities available to a broad range of innovative companies.
Startup and early stage companies based in New York that have raised Seed, Series A, or Series B funding are eligible to apply for grants ranging from approximately $1 million to $4 million.
Companies from outside of the state that meet the above qualifications may apply for funding, if they are committed to relocate to New York State and can demonstrate such commitment as required by New York State.
Academic institutions based in New York with translational innovations that are on the cusp of moving into a commercial development phase are eligible to apply for grants of $250,000 to $500,000.