The Westchester County Biosciences Accelerator (WCBA), which supports the development of Westchester's hub of bioscience innovation and commercialization, announced today it has received funding from JPMorgan Chase. The $5,000 sponsorship will support WCBA’s programming that provides entrepreneurship education and regional networking to seed-stage bioscience ventures, as well as their annual pitch competition on June 2 and 3, 2021. This donation marks the first WCBA is receiving from a financial services firm.
This past January, the WCBA launched its second cohort featuring 12 bioscience entrepreneurs working to build their ventures, attract funding, grow their teams and identify flexible space to house their research and operations. Through the six-month program, cohort members receive coaching, networking and mentorship. The program culminates in a pitch competition where members of the cohort present their ventures, review their successes and challenges, and discuss strategies for strategic growth.
County Executive George Latimer said: “We want Westchester to be a premiere area for the biosciences community, representing technological and medical evolution impacting our society. This partnership shows not only JPMorgan Chase’s investment in new ventures, but its commitment to community. The growth of the biosciences community with the County’s Biosciences Accelerator (WCBA) lays the foundation for innovative ideas and achievement.”
“With nearly 20 percent of New York’s bioscientists working in Westchester, this is a vibrant and thriving place for scientists and researchers to headquarter their growing ventures. The companies in our ecosystem benefit from the best of both worlds – a robust local biosciences community and easy access to New York City,” Deborah Novick, Director of Entrepreneurship and Innovation, Westchester County Office of Economic Development, said. “As the Westchester County Biosciences Accelerator grows, having supporters like JPMorgan Chase ensures we can help more entrepreneurs produce breakthrough solutions addressing critical healthcare challenges.”
The Westchester County Office of Economic Development (WCOED) created the WCBA in 2019 to grow the local biosciences sector and add to the more than 8,000 jobs and diverse variety of bioscience employers already located in the Hudson Valley. Beyond the accelerator, the WCOED houses an Industry Desk identifying the trends and needs of the biosciences community as well as a Task Force to discuss issues within the local and regional ecosystem.
“At JPMorgan we focus our work around harnessing technology, innovation and sustainability to help people best navigate the financial future for themselves, their families and their businesses,” Matt Rizner, Vice President, Banker, J.P. Morgan Private Bank, said. “The WCBA is growing a strong entrepreneurial ecosystem for bioscience companies in the Hudson Valley and JPMorgan is proud to support this work and catalyze new ideas and creative thinking benefiting Westchester and beyond.”
“We are honored to work with Westchester County to help contribute to the development of the strong local biosciences sector, support healthcare innovation in the community and connect global leaders with the next generation of biosciences entrepreneurial leaders,” Mary Howard, Program Director, WCBA and Principal, Design Technologies, said.