In addition to our formal mentoring program, Long Island BioMentor Initiative members benefit from support from the broader Long Island bioscience community. Our entrepreneurs also have access to “wrap around business services” to support company development through various resources and initiatives driven by Center for Biotechnology.
Formal support of the program is provided by the Center for Biotechnology at Stony Brook University as well as The U.S. Economic Development Administration (EDA). The EDA has provided the Center for Biotechnology with $500,000 under the U.S. Department of Commerce’s i6 Challenge Investment in November of 2016 to support the CFB’s efforts to bolster the regional bioscience ecosystem by supporting a formal mentorship program, as well as a critical NIH-focused SBIR/STTR training and application development program which will assist in capital formation and launching new companies.
The mission of the U.S. Economic Development Administration (EDA) is to lead the federal economic development agenda by promoting competitiveness and preparing the nation’s regions for growth and success in the worldwide economy. An agency within the U.S. Department of Commerce, EDA makes investments in economically distressed communities in order to create jobs for U.S. workers, promote American innovation, and accelerate long-term sustainable economic growth.