New wet labs to aid industrial growth

Portland State’s Business Accelerator will soon be adding wet labs to its current list of facilities. These labs will help Oregon’s biotech community by providing space for early-stage companies to test and analyze chemicals and drugs.

The mission of the PSBA is to incubate and accelerate startup technology and science companies while creating a living laboratory for the university community, according to its Web site.

The Portland Development Commission decided to spend $800,000 to retrofit and add wet labs to  PSBA. Construction work is expected to begin in March, according to an article published in the Portland Business Journal on Feb. 11.

PSBA is a 40,000 square-foot business incubator and accelerator that provides space for up to 25 companies ranging from single-person to 30-person operations. It helps small businesses accelerate on their path to success by keeping facility costs low, according to  PSBA’s Web site.

PSBA also provides cost-free business assistance from community partners as well as university support such as MBA project teams. To date, nearly 84 percent of small companies have been successful under the PSBA, according to its Web site.

“We expect construction to end this fall,” said Dana E. Bostrom, director of Innovation and Industry. “There are few wet labs within the city limits, and even available in the region. Lack of this space hinders growth of bioscience companies in Oregon.”

 A 2008 report by the Oregon Bioscience Association determined that a shortage of wet lab space in the metro area has constrained growth of the sector. According to the Portland Business Journal, developing such labs is not quite possible for the startup companies, considering their financial resources.

With $1.2 million in bioscience funding still not allocated, the PDC is expected to authorize the construction of two or more wet labs in PSBA, according to the Portland Business Journal.

The PDC and Oregon Health and Sciences University have teamed up with PSU to offer coaching and space to small-scale companies through  PSBA. The labs will also create job opportunities for PSU students, according to Bostrom.

“The wet labs will be in the Portland State Business Accelerator, which houses about 20 companies,” Bostrom said.

“Over the last year, companies residing in PSBA have worked with or hired 100 PSU students. There could be employment, internship, or other student learning opportunities. The PSBA is close to campus, and the companies work on cutting-edge technology products,” Bostrom said.

According to the Portland Business Journal, the project is being funded through the North Macadam Urban Renewal District tax-increment financing program, which has dedicated $3.5 million to bioscience spending to be overseen by OHSU and the PDC.

Bostrom said professors from PSU do not participate directly in these labs.

“Since these are independent companies, no one faculty member from PSU will supervise the activity. However, companies which employ or are led by PSU faculty may use the lab,” Bostrom said.

“At least one company founded by a PSU faculty member is expected to use the wet lab facility. We currently house other PSU-related companies, and expect more bioscience companies from PSU in the future,” she said.

PSBA also provides flexibility in lease terms and the ability to expand the office space as the company grows. These six small private labs will range in size from 165 square feet to 400 square feet, and will lease for approximately $1,000 to $1,600 per month, according to  PSBA’s Web site.

For more information regarding available space at  PSBA, visit www.psba.pdx.edu/spaceplace.