PHILADELPHIA, Feb. 7, 2012 (GLOBE NEWSWIRE) -- The National Business Incubation Association has awarded the NBIA Soft Landings International Incubator designation to the University City Science Center in Philadelphia.
The NBIA's Soft Landings Program recognizes incubators that are especially capable of helping nondomestic companies enter the incubator's domestic market. The University City Science Center was selected for the program because of its slate of business services for nondomestic firms and its demonstrated success at helping firms enter the U.S. market, said Tim King, NBIA international programs operations manager.
Through its Global Soft Landing (GSL) Program, the Science Center's Port Business Incubator helps global companies establish a foothold in the region's life sciences and technology markets. GSL provides international companies with fully-equipped labs, plug and play offices and access to the Science Center's full suite of business support programs, as well as assistance tailored specifically to nondomestic firms, which help foreign companies establish strategic relationships with a highly qualified network of industry experts in the Greater Philadelphia region.
"Since we introduced the program in 2006, more than 20 companies from 10 countries have participated in our Global Soft Landing Program," says Science Center President & CEO Stephen S. Tang, Ph.D., MBA. "Receiving the Soft Landings International Incubator designation from NBIA is a great validation of all that we do to support international companies and help attract them to the Greater Philadelphia region."
Business incubation programs like the Science Center's Port Business Incubator catalyze the process of starting and growing companies by providing entrepreneurs with the expertise, networks and tools they need to make their ventures successful. Incubating nondomestic firms takes more than the standard set of incubation services, however. "The Soft Landings designation recognizes an incubator's focus on welcoming nondomestic firms into its domestic market with translation services, help cutting through governmental red tape, access to capital, domestic market research and other programs," King said.
A panel of experienced NBIA-member incubator managers evaluated the Soft Landings applications. According to King, the judges were impressed with the University City Science Center's unique support for nondomestic firms.
The University City Science Center is one of only 23 business incubation programs from around the world that have earned the designation since NBIA began the program in 2005.
The National Business Incubation Association is the world's leading organization advancing business incubation and entrepreneurship. For more information about the NBIA Soft Landings program, visit www.nbia.org/member_services/soft_landings/.
About the Science Center
The University City Science Center accelerates technology commercialization, regional economic development, and the market availability of life-enhancing scientific breakthroughs by bringing together innovations, scientists, entrepreneurs, funding, laboratory facilities, and business services. Established in 1963 and headquartered in Philadelphia, PA, the Science Center was the first, and remains the largest, urban research park in the United States. Graduate organizations and current residents of the University City Science Center's Port business incubators have created more than 15,000 jobs that remain in the Greater Philadelphia region today and contribute more than $9 billion to the regional economy annually. For more information about the Science Center, go to www.sciencecenter.org .
The Port business incubator offers start-up companies more than just physical resources. It also surrounds emerging ventures with the other ingredients required to grow and be successful. The Port offers its residents access to free programming including Lunch for Hungry Minds scientific presentations and Smart Talk's business building advice. The Science Center's Scientific Advisory Committee connects Port companies with a vast array of clinical and technical expertise and facilities. Current committee members include the senior research administrators (or equivalent) from academic, healthcare and research institutions, as well as from leading local companies in the life sciences and other industry sectors.
University City Science Center
National Business Incubation Association
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