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The City of Peoria, Arizona, BioAccel and The Plaza Companies have created BioInspire, an incubator in Peoria dedicated to medical device development that provides working capital and space to qualifying companies. BioInspire, operated by BioAccel, will offer first-class working space, technical/business assistance and collaborative opportunities. Unique to BioInspire is its focus on medical devices and, most importantly, that qualified tenants, through BioAccel's commercialization programs, may receive up to $300,000 for working capital and/or free or greatly reduced rent. To date, BioAccel has invested $3.5 million over the past five years in proof-of-concept projects that helped create and/or grow companies, helping to support high-paying jobs at an average wage of $71,800.The facility is located on the Plaza del Rio Campus, a 180-acre 'medical hub' featuring 400,000 square feet of medical and healthcare offices and outpatient centers along with 1,000 beds of various components of senior living options. The campus will provide an environment for the growth of companies once they leave the incubator. Bioinspire consists of 6,800 square feet divided into four individual laboratories, one larger common laboratory (a unique feature providing laboratory access to tenants that do not require an individual lab), ten offices of various configurations providing for flexibility, a break room where tenants can connect and a shared conference room. Since inception in 2009, BioAccel has helped to launch 17 companies and has provided education and mentorship for more than 100 Arizona entrepreneurs.
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