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New York City Offers Up to $20 million to Projects Selected from Life Sciences Innovation Infrastructure RFP

The New York City Economic Development Corporation (the “NYCEDC”) is seeking proposals from not-for-profit organizations and not-for-profit/for-profit joint ventures to support New York City’s life sciences community. Specifically, NYCEDC is seeking projects that will provide facilities and/or equipment “to support the needs of early-stage life sciences ventures and/or enable academic and industry scientists to co-develop and test commercially viable technologies.”

The submission deadline is Wednesday, August 18, 2021.

This initiative is part of LifeSci NYC, a 10-year, $1 billion initiative dedicated to generating growth and job creation for the life sciences research and development industry in New York City. Up to $150 million is dedicated for the renovation, construction and/or equipment costs needed to foster breakthrough technologies and commercialization of life sciences research and development in the city. Approximately $38 million has already been awarded. The remaining funds are available through this request for proposal (the “RFP”). Up to $20 million may be requested for any single project.

The city funds are restricted to improving or renovating new or existing buildings or facilities and/or the purchase of equipment, such as computer systems. The project’s operations, programming and management will need to be supported separately.

Partnerships with research institutions within and outside the city are welcome to apply, along with engagements with industry partners. The not-for-profit organization, however, will be the sole recipient of the city’s funds and sole contracting entity with the city.

These projects should provide a facility and/or equipment that is located within the city and that cannot be easily outsourced to other cities or remote contract research organizations. A competitive project will be one that accomplishes all, or most, of the following goals, as noted in the RFP:

  • Supports R&D activity by constructing new, or expanding existing, facilities and/or equipment to meet a critical unmet need in New York City’s life sciences R&D ecosystem;

  • Promotes commercialization of R&D technologies in New York City that could otherwise be commercialized in another city and stimulates measurable economic impact for the city (e.g., jobs, company creation);

  • Develops and operates a project that will reach financial sustainability including through an ongoing pipeline of R&D projects that will leverage the facility and/or equipment;

  • Provides programming and services (e.g., technical expertise and educational programs ) to maximize the utility and impact of the facility and/or equipment;

  • Demonstrates collaboration and accessibility across the ecosystem via formal joint partnerships and/or access to multiple users beyond the consultant;

  • Enhances the competitiveness of New York City in attracting funding from industry, philanthropy and/or the federal government; and

  • Demonstrates consideration and paths for collaboration with the existing network of life sciences infrastructure supported by New York City.

©1994-2021 Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. All Rights Reserved.National Law Review, Volume XI, Number 174
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About this Author

Ilse P Johnson attorney corporate law Mintz Levin Boston
Associate

Ilse focuses her practice on corporate and securities law, real estate transactions, and general corporate matters. She counsels clients in a variety of industries, including real estate, financial services, and the nonprofit sector. She was a Summer Associate at Mintz in 2019.

While attending law school, Ilse served as a judicial intern for the Superior Court of the District of Columbia and an intern in the Immigrant & Employee Rights Section in the US Department of Justice’s Civil Rights Division. She was also a summer associate in the...

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