PICK FIVE 5106 S. IN SOUTH
JORDAN, WE ARE SEEING MORE CARS
ON THE ROAD THIS MORNING.
YOU HAVE COMPANY ON THE COMMUTE
BUT NO MAJOR ISSUES.
AN EXCITING NEW PARTNERSHIP
TO TALK ABOUT.
IT WILL SERVE AS A LAUNCHPAD
FOR HEALTHCARE AND BIOTECH
COMPANIES IN SALT LAKE CITY.
THE EXECUTIVE DIRECTOR OF
ALTITUDE LABS IS HERE TO TALK
ABOUT THE NEW ADDITION.
THANK YOU FOR BEING WITH US!
GOOD MORNING I'M HERE AT THE
LAB, HOW ARE YOU GUYS DOING?
Sarah: WE ARE GOOD!
ALTITUDE LAB IS NEW WHAT IS IT
AND WHY IS THE PROJECT HERE?
THIS IS A FANTASTIC
INITIATIVE COMING OUT FROM THE
UNIVERSITY OF UTAH TO BUILD A
HEALTHCARE INTO BETA TO HELP
EARLY-STAGE STARTUPS RIGHT HERE
IN SALT LAKE CITY.
TWO GOALS IN MIND FIRST TO
CREATE A LAUNCH TAB FOR STEM
ENTREPRENEURSHIP AND HELP
EARLY-STAGE COMPANIES IN
BIOTECH AND HEALTHCARE RELATED
EXCEL.
SECOND IS TO BUILD A DIVERSITY
AND INCLUSION HERE IN SALT LAKE
CITY.
AS WELL AS IN STEM
ENTREPRENEURSHIP.
Sarah: ANDERSON, AWESOME!
CAN YOU TELL ME ABOUT THE
BIOTECH FIELD IN GENERAL IN
UTAH?
WHY IS THIS A FIELD WANT TO
INVEST IN AND THE CITY WANT TO
SUPPORT?
UTAH ACTION HAS BEEN AT THE
FOREFRONT OF BIOTECH FOR YEARS
NOW.
HAVE THE HIGHEST EQUIPMENT
GROWTH RATE IN THE COUNTRY OVER
26 PERCENT YEAR-OVER-YEAR.
IN THE LIFE SCIENCES SECTOR?
WE ARE NUMBER THREE IN TERMS OF
THE LARGEST ECONOMY FOR
PRECISION MEDICINE IN THE
COUNTRY BRINGS IN OVER $4
BILLION A YEAR IN UTAH.
WE BUILDING ON THIS MOMENTUM BY
PROVIDING LAB SPACE, EQUIPMENT,
EDUCATION AND MOST IMPORTANT
ACCESS TO FUNDING FOR THESE
INNOVATIVE STARTUPS THAT ARE
TRYING TO CONTRIBUTE TO THE
LIFE SCIENCES SECTOR.
Sarah: INCREDIBLE THAT'S A
BIG CHUNK OF CHANGE AND
CERTAINLY A GOOD, LARGE IMPACT
ON OUR POPULATION.
YOU SAY THE PART OF THE GOAL IS
TO REALLY BUILD UP THE START UP
COMPANIES, HOW DO YOU DO THAT
AND HAD TO IDENTIFY THEM AND
WHAT DO YOU DO TO SUPPORT THEM
ON THEIR GROWTH JOURNEY?
THESE COMPANIES ARE USUALLY
2 TO 3 PERSON FOUNDER TEAMS.
MAYBE JUST COMING OF THE
UNIVERSE WITH EXCEPTIONAL
TECHNOLOGY AND WHAT WE ARE
TRYING TO DO IS GIVE THEM THE
TOOLS TO LEARN HOW TO
COMMERCIALIZE THAT AND BUILD
INTO A BUSINESS TO AFFECT A
DIVERSE PATIENT POPULATION
ACROSS THE WORLD.
WE DO THAT BY GIVING THEM LAB
SPACE EQUIPMENT IS A CRITICAL
NEED AT THE BEGINNING OF THE
COMPANIES AND SECOND, TO
PROVIDE EDUCATION AND
ENTREPRENEURSHIP, HOW TO RUN
THE BUSINESS, A COMPANY AND
BRING IN FUNDERS AND INVESTORS
TO THEM AT ALTITUDE LAB.
Sarah: CAN YOU GIVE ME SOME
EXAMPLES OF MANY COMPANIES OR
BUSINESS IDEAS THAT YOU HAVE
SEEN IN THE PROCESS?
CAN YOU GIVE US MAYBE SOME DATA
POINTS TO UNDERSTAND WHAT A
BIOTECH COMPANY MIGHT BE?
YEAH!
THE FIRST THREE COMPANIES, WE
HAVE THREE HELIX WHICH IS A
COMPANY OUT OF THE UNIVERSITY
OF UTAH RIGHT HERE.
WHAT THEY'RE DOING IS, THEY'VE
COME UP WITH A UNIQUE MOLECULE
THAT HELPS US DETECT DISEASE
AND LIVER.
THEY ARE ACTUALLY TACKLING
DIAGNOSIS OF LIVER FIBROSIS.
Sarah: INCREDIBLE!
INCREDIBLE IS RIGHT!
WE ARE REALLY EXCITED.
Sarah: VERY COOL SO FOR
BUSINESSES LIKE THAT THAT MIGHT
NEED A LITTLE HELP AND WOULD
LIKE TO BE CONSIDERED BY YOU
HOW THEY DO THAT?
WE HAVE AN APPLICATION
PROCESS ON THE WEBSITE ALTITUDE
LAB.org, WE ASK ALL COMPANIES
TO, IS FILLING UP QUICK SO THE
BOARD OF DIRECTORS EVALUATES
AND REVIEWS POTENTIAL
APPLICANTS AND WE SEE IF THEY
QUALIFY FOR A GRANT.
THEN WE WELCOME THEM IN.
WE ARE ACTUALLY BUILDING THE
LAB RIGHT NOW WE OPEN IN
OCTOBER AND WITH 30 COMPANIES.
WE WILL GET THEM SET UP WITH
THE EQUIPMENT THEY NEED TO
START GROWING.
Sarah: CHANDANA HAQUE, THE
EXECUTIVE DIRECTOR OF ALTITUDE
LAB, WE WILL HAVE ALL THE
INFORMATION ON OUR WEBSITE
www.ABC4.com/GMU.
THANK YOU SO MUCH, HAVE A GREAT
