Business & Economy
9:10 am
Thu November 3, 2011

Pension Fund to Help Life Science Start-Ups

A major push is underway in North Carolina to help grow businesses in the Life Sciences. 

State Treasurer Janet Cowell is scheduled to announce the Accelerator Fund today at the annual Southeast BIO Investor Forum.  The Accelerator is a 35-million dollar fund that will support early-stage companies in the Life Sciences.  The Accelerator is a component of the State Treasurer’s Innovation Fund announced in 2009.  The 230-million dollar Innovation Fund was set-up to invest in businesses with significant operations based in North Carolina.  Cowell has said, as the state looks globally for opportunities to achieve a high rate of return for the pension fund, it also needs to look in its own backyard.