SALT LAKE CITY, Feb. 19, 2025 (GLOBE NEWSWIRE) — Altitude Lab, a biotech accelerator started by Recursion in Salt Lake City, today announced the launch of its pre-seed venture fund aimed at supporting early-stage biotechnology startups impacted by recent federal funding policy shifts. Together with Altitude Lab, Altitude Lab Fund intends to provide crucial capital, lab space, and mentorship to promising Small Business Innovation Research (SBIR) reviewed companies, further strengthening Salt Lake City’s position as a national biotech hub.
With approximately $4.5 billion in annual SBIR and Small Business Technology Transfer (STTR) obligations, federal grants have long been a cornerstone for biotech innovation. However, recent policy changes have placed an estimated 1,500 health-related startups in limbo, jeopardizing critical advancements in medicine, drug development, and diagnostics that improve the lives of patients and help make America the global leader of health innovation. Altitude Lab Fund is designed to help bridge this gap, while continuing to grow the rapidly-expanding life science hub in Salt Lake City by offering capital and infrastructure to high-potential startups currently at risk.
Altitude Lab Fund intends to provide:
- $100,000–$250,000 in pre-seed investment capital
- 12 months of lab and office space
- Admission to Altitude Lab’s competitive accelerator program which includes exclusive mentorship with leading industry executives and access to top tier national funds
Full story: Altitude Lab Launches Pre-seed Venture Fund, Anchored by
