Incubator gets lifeline

  • Follow Latest News

ATLANTA — A small state agency that operates an incubator for start-up companies received help Friday in the form of legislation signed into law by Gov. Sonny Perdue that provides new means for funding.

The legislation, House Bill 93, comes just as the Georgia Medical Center Authority was facing severe financial challenges because of reduced state funding. The new measure allows the authority to establish a subsidiary that can apply for grants from foundations that would not give directly to government entities. It will also allow the authority to take stock in the start-ups it helps nurture.

The Augusta-based authority's mission is to develop biotech jobs in rural parts of the state by assisting beginning companies in the field. It provides laboratory space and advice in an incubator setting.

The bill was sponsored by Rep. Barbara Sims, R-Augusta.

Search Augusta jobs
Top headlines
Defendant acquitted of top charges at rape trial
After less than two hours of deliberations, the jury acquitted Christopher Davis of rape and aggravated sodomy, convicting him only of aggravated assault, possession of a knife during the ...