This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

QB3 And JPMorgan Chase Announce Breakthrough Collaboration

Stocks in this article: JPM

$200,000 Grant Will Fund Incubator Program Management and Student Internships

SAN FRANCISCO, Oct. 30, 2013 /PRNewswire-USNewswire/ -- QB3, a state institute that connects private industry with more than 220 scientists at UC San Francisco, UC Berkeley and UC Santa Cruz, today announced a new partnership with JPMorgan Chase to promote biotech innovation in San Francisco.

JPMorgan Chase awarded $200,000 to fund an entrepreneurship program manager position at QB3's new biotech incubator. The grant will also fund internships at the center to assist students from economically disadvantaged neighborhoods in their efforts to enter the biotech industry.

The gift will allow QB3 to expand its programs and facilities to support entrepreneurs and thus help to develop the innovation corridor between the San Francisco neighborhoods of Mission Bay and Hunter's Point.

"QB3@953 is our first incubator designed from the ground up to provide everything entrepreneurs need to get successful biotech companies going," said Regis Kelly, director of QB3. "A professional, full-time manager will handle the day-to-day needs of the entrepreneurs and will guide the interaction with the local community. If our incubator prospers in a region that has lost most of its manufacturing jobs, it could provide a national model for disadvantaged neighborhoods. We are grateful to JPMorgan Chase for making this possible."

Alice Rodriguez, California Region Manager of Chase Business Banking, said, "JPMorgan Chase is committed to doing our part to assist in the economic development of the communities we serve. We are excited to work with such an innovative collaboration and we look forward to the results of QB3's efforts as they spur economic growth in the region."

The manager, who has yet to be hired, will manage the property, handle environmental health and safety concerns and screen tenants. He or she will organize social events and workshops for incubator companies, as well as open houses for the community, including local high schools.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,164.95 -251.90 -1.45%
S&P 500 1,994.99 -26.26 -1.30%
NASDAQ 4,635.24 -48.1670 -1.03%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs