Through grant partnering and helping to attract federal, private and venture capital funding, OTRADI and OTRADI-affiliated researchers and startups have leveraged $12.4 million in state investment in OTRADI. This original investment then expanded into more than $100 million in private, federal and foundation funding for Oregon, an 8:1 return on state money.
Furthermore, OTRADI has provided work for more than 35 Oregon bioscience companies in the form of scientific expertise, product expansion, grant partnering, introductions to investors, recruitment and expansion. Since 2011 OTRADI’s work has helped to create or retain at least 230 bioscience jobs in Oregon.
OTRADI’s partnerships with more than 150 researchers at universities throughout the state have added $3.5 million in licensing revenue for those universities in Oregon.
OTRADI Opens State’s First Bioscience Incubator
In 2013 OTRADI built-out and opened Oregon’s first and only bioscience-focused business incubator, offering both office and lab space to bio startup companies in need of both reasonably priced facilities and business expertise. In 2015 an expansion of the original 13,000 square foot facility at Portland’s south waterfront will open, adding 3,800 more square feet and 12 additional companies. The facility is 100 percent full with a waiting list of bio startups needed similar facilities.
The original OTRADI Bioscience Incubator (OBI) housed six companies, bringing the total to 18 companies with the 2015 expansion. The facility also offers much needed business advice through its onsite Entrepreneurs in Residence and its BioMentoring network of more than 100 experts who donate time to assist startup entrepreneurs with expertise in a variety of areas including business services, regulatory matters and funding.
OBI is located in the bioscience hub of Portland’s South Waterfront and is within walking distance to the OHSU tram and new Collaborative Life Science Building. The facility also includes physical labs and office space, as well as cost-prohibitive shared scientific equipment.
In 2016 OBI will expand east to Bend, thanks to a collaboration with OSU/Cascades.