New York City Invests Heavily In Biotech Development

The governments of New York City and the State of NewYork are investing hundreds of millions of dollars to help develop high technology industries. Two governments have launched 40 special workspaces, known as incubators, to assist start-up companies. Incubators provide supportive conditions for businesses that are just starting. Such places provide a low-cost way to develop business ideas. Harlem Biospace is an incubator for biomedical engineering. For a low monthly payment, young people are given desk space space and use of a science laboratory. They pay for other materials they use.

Tyler Poore and his partnet are happy to have a place to carry out experiments. They are developing a product that will kill bacteria on objects used in the home. He and the 17 other researchers at the Biospace incubator share a common goal: to find solutions to biomedical problems. Edwin Vazquez in investigating the mystery of diseases such as Alzheimers and Parkinson’s. He says suggestions from others in the building mkae the work environment at Biospace much more creative that working alone.

Matthew Owens in the executive director of Harlem Biospace. He says there have been real signs of success since the incubator was launched last November. He says some of the companies that began at Biospace are already shipping products and earning money. Mr. Owens is pleased with the results at the incubator. The main goal of an incubator is to develop successful businesses. The Harlem incubator, with its aid to young researchers, is helping to make that possible. For VOA Learning English, I’m Alex Villarreal.