LifeX is awarded $2 million grant through federal EDA's Build to Scale Program

PITTSBURGH, Nov. 16, 2023 /PRNewswire/ -- LifeX announced Nov. 15 that it has been chosen as a recipient of a $2 million grant through the Build to Scale program that administers funds annually through the U.S. Department of Commerce's Economic Development Administration (EDA). The Build to Scale program, which is intended to accelerate technology entrepreneurship, will allow LifeX to make a larger impact in the life science startup ecosystem locally, nationally and globally.

On a mission to drive the development and growth of life sciences startups in Pittsburgh and beyond, LifeX supports therapeutic, device, diagnostic, and digital health technologies that are poised to transform the future of healthcare through a comprehensive continuum of programming from startup guidance through seed stage funding. With the Build to Scale program LifeX will focus on:

• Scaling the existing Accelerator and Commercialization Program.
• Nurturing the life science entrepreneurship ecosystem that LifeX supports.
• Creating events and resources to attract and engage talent.
• Developing opportunities to overcome the common risks associated with startups.
• Building the industry life science leadership network to help younger founders succeed.

"I want to congratulate LifeX on winning an EDA Build to Scale grant to accelerate their work supporting Western Pennsylvania's growing life sciences innovation ecosystem," said Secretary Rick Siger, Pennsylvania Department of Community and Economic Development (DCED). " LifeX's collaborative model serves Pennsylvania's innovators by encouraging sharing of resources and expertise through its Accelerator and Commercialization Programs, as well as its capital funding across the board.  Investments like this one reinforce Governor Josh Shapiro's goal of fostering innovation and supporting transformational economic development for our Commonwealth."

Expanding the opportunity for entrepreneurship in the life science ecosystem is the highest priority for LifeX. Receiving this grant demonstrates the trust and confidence that the EDA has in the company to accomplish this goal. What sets the LifeX programming apart is its distinct and effective ability to establish access to the tools and networks that will inevitably increase the probability that those entrepreneurs will succeed.

"We are extremely pleased to have our unique business model at LifeX recognized by the EDA to assist life science startups with support at varying stages of their commercialization process. LifeX's continuum of expertise and funding from startup to later stage seed investment provides multiple entry points to work with the entire LifeX organization to ensure meaningful and measurable impact on their commercial success. We are excited to work with Governor Shapiro and Secretary Siger in growing life science economic development impact in Western Pennsylvania and beyond," commented Gerald J. Vardzel Jr., President & CEO LifeX.

With the injection of funds from the Build to Scale program, the impact of LifeX will undoubtedly grow and continue to benefit Pennsylvania economically by creating new job opportunities and bringing new innovations to the local landscape. LifeX will meet the goals of this program by increasing inclusive access and support needed to make a lasting impact on entrepreneurs, the region, and the healthcare industry.

SOURCE LifeX