The op-ed highlights the importance of the SBIR and STTR programs, which fund high-risk biotech research and bridge the early-stage investment gap that private capital often won’t cover. These programs have enabled major breakthroughs in research and development while generating strong economic returns, especially in New York’s fast-growing life sciences sector.

Governor Kathy Hochul announced the creation of New York’s Emerging Technology Advisory Board on Biotechnology, a group of industry, research, and nonprofit leaders tasked with guiding the state’s biotech growth. The board will focus on advancing commercialization of new therapies, fostering public–private partnerships, integrating AI in biotech, and expanding workforce development. This marks the second phase of the Advisory Board, which last year focused on Artificial Intelligence and informed new state AI programs.

Driven by strategic investments from both the public and private sectors, New York’s life sciences industry is achieving its potential and has made significant strides over the past decade, rising in national rankings for venture funding, public investment, and economic output.

Five leading research institutions across New York — Roswell Park, the University of Rochester, Mount Sinai, NYU Langone, and Weill Cornell — have launched the Empire State Cellular Therapy Consortium to accelerate the development and delivery of cell-based treatments for cancer and other diseases. By pooling resources, sharing clinical trial networks, and leveraging specialized facilities like Roswell Park’s state-of-the-art cell manufacturing center, the consortium will expand patient access to innovative therapies, strengthen collaboration among scientists and clinicians, and position New York as a national leader in cell and gene therapy.