THE OFFICE OF ECONOMIC AND WORKFORCE DEVELOPMENT & THE SAN FRANCISCO CENTER FOR ECONOMIC DEVELOPMENT ANNOUNCE THE OPENING OF BIOTECHCORP FROM MALAYSIA
BiotechCorp is the first Asian biotech incubator in San Francisco
San Francisco, CA—The San Francisco Center for Economic Development (SFCED) and the Office of Economic and Workforce Development (OEWD) in collaboration with BiotechCorp, Malaysia’s national biotech development agency announced the opening of their new 5,800 square foot international office at 185 Berry Street in China Basin today with a ribbon cutting. BiotechCorp is the ninth biotech incubator to open in San Francisco, and the first Asian biotech incubator in the city.
“We are thrilled that BiotechCorp chose to locate their flagship office in San Francisco, known as both the birthplace of biotechnology and the Innovation Capital of the World. The opening is a testament to the City’s vibrant economy where biotech is creating jobs while driving science and health. We look forward to strengthening the relationship between Malaysia’s biotech industry and our City,” said Todd Rufo, Director of the Office of Economic Development.
The 5,800 square foot office space is currently designed to house 10 Malaysian biotech entrepreneurs. Chaired by Malaysia Prime Minister Najib Razak, BiotechCorp is an agency under the Ministry of Science, Technology and Innovation charged with rolling out Malaysia’s national biotechnology initiatives.
“This is an exceptional occasion for us, as it is historic to launch our first international office outside of Malaysia. We are very fortunate to be based here to foster partnerships between U.S. and Malaysian bio-based companies and to provide a platform for Malaysian biotechnology companies and entrepreneurs to tap into the vast experience, knowledge and innovation of San Francisco’s leading bio-innovation ecosystem,” said Dato’ Dr. Mohd. Nazlee Kamal, Chief Executive Officer of BiotechCorp.
BiotechCorp is the first incubator recruited by Mayor Lee’s SFAsia initiative, a public-private partnership between SFCED and OEWD focused on spurring economic growth in San Francisco by strengthening bilateral business and innovation ties with Asia.
“We see enormous potential coming out of this office as Malaysian biotech companies land in San Francisco and take advantage of the innovation ecosystem here. Some of them will create new employment opportunities, and all of them will strengthen the ties between Malaysia and San Francisco,” said Dennis Conaghan, Executive Director of the San Francisco Center for Economic Development.
San Francisco is home to over 230 life science companies generating over $3.7 billion in economic activity and employing an estimated 20,955 life science-related workers in the city. The BiotechCorp International office is close to San Francisco’s Mission Bay research and development hub and will serve as a landing pad for Malaysian biotech entrepreneurs who are looking to expand their businesses in the U.S.
The opening ceremony included an announcement on the expansion of BiotechCorp’s partnership with QB3 (the University of California biotech and research accelerator headquartered at UCSF Mission Bay). In 2007, the QB3-Malaysia program was launched to grow Malaysia’s biotech industry by hosting and training biotech researchers from Malaysia in San Francisco’s biotech ecosystem. In implementing Phase II of BiotechCorp’s national biotech strategy to commercialize their biotech research, BiotechCorp will continue the collaboration with QB3 with a new ‘Train-the-Trainer Program’ to develop a global network of QB3-certified trainers who will help mentor future generations of Malaysian bio-entrepreneurs through speaking opportunities and training courses.
“This is the culmination of a great partnership over a number of years,” said Regis Kelly, Director, of QB3. “We look forward to growing and expanding this collaboration, and ensuring that the bilateral links between Malaysia and San Francisco continue to add value to both our economies.”
In the summer of 2016, San Francisco will be the host of the Bio International Convention. Today’s launch marks the ninth biotech incubator to open here, cementing San Francisco’s international reputation as a place to grow and develop innovative new biotech companies. San Francisco’s biotech incubators now include:
- Bayer CoLaborator
- QB3 Garage
SFAsia was created as a nonprofit, public-private partnership between the Office of Economic and Workforce Development (OEWD) and the San Francisco Center for Economic Development (SFCED) – a division of the San Francisco Chamber Foundation – to tap opportunities in Southeast Asia, Japan, Korea and India. SFAsia works to spur economic growth in the San Francisco Bay Area by paving the way for Asian companies to locate, invest and grow in the city. SFAsia also serves as a bilateral bridge for San Francisco-based companies looking to expand in Asia. More information: www.sfced.org/sfasia
BiotechCorp, an agency under the purview of Ministry of Science, Technology and Innovation (MOSTI) is the lead development agency and the prime mover of the bio-based industry in Malaysia. BiotechCorp acts as the central contact point in providing supports facilitation and advisory services for bio-based and life sciences companies in the country. BioNexus Status companies are international and Malaysian biotech companies that qualify for fiscal incentives, grants and guarantees administered by BiotechCorp. More information: www.biotechcorp.com.my