The Austen BioInnovation Institute in Akron is closely aligned with regional biomedical commercialization efforts that will help you take your ideas and products to market, including: BioEnterprise, the City of Akron’s Biomedical Corridor development zone, the Akron Global Business Accelerator and Akron ARCHAngels.
BioEnterprise is a business formation, recruitment and acceleration initiative designed to grow healthcare companies and commercialize bioscience technologies.
Since July 2002, BioEnterprise has created, recruited and accelerated more than 80 companies, and has helped them attract more than $925 million in new funding from national venture and private equity sources.
BioEnterprise client companies in orthopaedics include: AxioMed; Merlot Orthopaedix Inc.; OrthoHelix Surgical Designs Inc.; Proxy BioMedical; SpineMatrix Advanced Spine Diagnostics; and The Theken Family of Companies.
For more information, visit bioenterprise.com.
The Akron Biomedical Corridor
The Akron Biomedical Corridor is an “Innovation District” created by the City of Akron to attract, assist and house biomedical companies in product research, development and manufacturing.
“Akron remains a global leader for materials research and fabrication technology,” says Akron Mayor Donald L. Plusquellic. “This is why we are positioned to attract innovative technology companies that can combine materials research with the perfect test market for their biomedical products.”
The three anchor medical systems in the district employ more than 19,000 professionals. The combined outpatient visits total more than 1.9 million each year. This unique geographic location offers new businesses exciting opportunities for strategically located development sites as they work to advance innovative biomedical technologies, products and services, as well as conduct clinical tests and preliminary test marketing.
The City of Akron’s Economic Development Department also can provide new businesses with financial assistance such as tax incentives, grant and loan programs, as well as all the relocation, market and business development support they need to succeed, including:
- Assisting in market research, analysis and assessment
- Developing strategic market and business plans
- Identifying potential strategic partners and customers
- Understanding incentives and investment resources
- Recruiting key personnel
For more information, download the Akron Biomedical Corridor brochure (PDF).
Akron Global Business Accelerator
Akron Global Business Accelerator, established in 1983, enjoys an international reputation as a successful small business incubator created through a cooperative partnership of the City of Akron, The Akron Development Corporation, The University of Akron and the State of Ohio.
The accelerator won the 2008 Incubator Innovation Award from the National Business Incubator Association for its attraction of entrepreneurs determined to commercialize their technologies in core areas such as biomedical products.
The Akron Global Business Accelerator offers 200,000 square feet of improved office, manufacturing, assembly, wet labs and conferencing facilities in a secured building with 24-hour, 7-day-a-week accessibility.
For more information, visit ci.akron.oh.us/aii.
The ARCHAngel (Akron Regional CHange Angel) Network is a regional forum for introducing investors to market-driven, technology-based investment opportunities within Northeast Ohio and particularly within the Greater Akron area.
The ARCHAngel Network, made possible through the sponsorship of The University of Akron Research Foundation, brings together promising technology companies and Angel investors with a particular focus on businesses that leverage the region’s strengths in healthcare, information technologies, polymers and other advanced materials. The network has presented 48 early-stage companies to investors, attracting $40 million+ in follow-on funding.
For more information, visit akronarchangels.com/acorn.php.