by Mary Jo Milillo
In less than five years, California’s San Jose BioCenter has become an incubator to celebrate—winning both NBIA’s 2009 Randall M. Whaley Incubator of the Year award and the Dinah Adkins Incubator of the Year award in the technology category.
Between opening its doors in August 2004 and being recognized for its achievements at NBIA’s 23rd International Conference in Kansas City, Mo., in April, the San Jose BioCenter has become self-sustaining —breaking even in fiscal year 2007-08 and recording a 43 percent growth in revenues over the previous year. Revenues for fiscal year 2008-09 totaled $1.7 million, primarily from client leases and service fees.
The BioCenter’s financial success was one of many reasons judges selected it as an NBIA award winner. “The BioCenter’s results speak for themselves —it is a superior, successful and comprehensive program with spectacular results in attracting serial entrepreneurs,” said one judge.
Keywords: best practices, client services – general, financial management – incubator, special focus incubator, technology incubator
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