CWRU Set to Launch $50 Million Business Incubator for Biotech, Health Tech, and Engineering Startups

Case Western Reserve University (CWRU) is currently renovating one of its buildings to create a business incubator. The aim is to support startup businesses in the fields of biotech, health tech, and engineering. The renovations for the building are expected to cost around $50 million, which is faster than the average for all occupations as per data from the Bureau of Labor Statistics.

Michael Oakes, the senior vice president of resource and technology management at Case Western Reserve University, mentioned that the building is undergoing renovation and is scheduled to open by October 2026. The renovation process will be done incrementally, with an estimated cost of $50 million. The goal of the incubator is to provide a platform for businesses in Northeast Ohio to leverage technology, create jobs, and contribute positively to society.

Oakes emphasized that the incubator will offer businesses access to lab equipment and resources available at the university. The facility aims to attract businesses from various locations, including international locations like Australia, seeking to benefit from the university’s resources.

Andrew Cornwell is the director of the business incubator and stressed that the application process for businesses looking to work out of the incubator is straightforward. The incubator is designed to facilitate human interaction, which is crucial for innovation and scientific advancements.

Oakes highlighted that with the support of hospital partners and the medical school, the business incubator will provide a significant advantage to businesses in the biotech sector. The growth in biotech is expected to increase in Ohio, making the business incubator a valuable resource for entrepreneurs and businesses in the field.

Bioengineering employment is expected to increase by 5% from 2022 to 2032, which is faster than the average for all occupations as per data from