SOSV, the world's most active investor in both life sciences and hardware, announced that the inaugural cohort of IndieBio New York will start in Manhattan in April 2020, with applications being accepted beginning today.
"We're doubling down on life sciences," said Sean O'Sullivan, Managing General Partner of SOSV. "We are looking to bring what IndieBio has created for the California life science industry to the East Coast. New York is a great hub for life sciences research and financing, and will be a natural center for life science startups."
Up to $2 million per therapeutics startup
SOSV's IndieBio already has the most competitive terms in the industry, funding up to 30 life science startups each year with $250,000 in exchange for a small equity position in the teams that go through the program. With IndieBio New York, SOSV will double the number of startups funded and will also trial a therapeutics track that will fund up to $2,000,000 per accepted startup. This will be the first time any accelerator anywhere has offered such a cash-rich package of benefits.
SOSV will be building out a 24,000 square foot lab and co-working space for their NY-based startups, doubling their space in New York City as part of this expansion.
Call for Applications Solving for Human and Planetary Health
Startups can apply for IndieBio New York's first cohort until March 1st, 2020 at http://indiebio.co/apply. The program kicks off in April 2020.
Read the full press release here.