Washington state’s life science sector is booming. In the last decade, the industry has evolved into a top 10 life science hub in the United States.
Washington’s life science cluster has grown differently than other states. With a range of world-class research institutions, a strong entrepreneurial environment, and limited state incentives to attract companies, Washington’s life science industry is homegrown. Most of Washington’s leading companies started out as local startups or spinouts from the state’s universities and research institutes.
This success isn’t by accident. To fuel the $38.8 billion industry’s growth, Washington state has invested in a number of innovative life science initiatives over the past two decades. Two recent initiatives that are having an outsized impact are: Andy Hill Cancer Research Endowment (CARE) Fund and the Washington Innovation Network (WIN) mentorship program. Together, these programs ensure the state continues to lead the charge on cancer research while making sure that our local scientists and entrepreneurs have the support they need to build companies that can transform that research into life-saving innovations for patients.
Propelling Cancer Research with CARE Fund
In 2015, the state launched CARE Fund, which invests dollars collected from tobacco and vape taxes into promotion of cancer research. Today, CARE Fund is one of the country’s top publicly supported cancer research endowments, awarding more than $58 million in grants. CARE Fund grantees have also collectively received nearly $150 million in additional research funding.
CARE Fund directly invests millions into optimizing and incentivizing cancer research funding. This biennium, the Fund has allocated the distribution of up to $27 million for cancer research. Grant funds are awarded in two grant cycles each year—one focused on scientific discovery and the other on implementation and outcomes research. Grants are open to higher education institutions, nonprofits, research institutions, tribal entities, and companies based in Washington.
While supporting innovative proposals that help attract federal funding and strengthen the competitiveness of research institutions, CARE Fund also supports research at local companies, allowing them to bring innovative treatments to patients more quickly.
CARE Fund is already making a difference. Through global research, including the work supported by CARE Fund, the mortality rate for all cancers has decreased by 12% in Washington state from 2015 to 2020.
WIN Program Helps Scientists Build Companies that can Translate Research into Medical Breakthroughs
Recognizing the additional challenges that experienced scientists and cancer researchers face in starting a company, raising money, and navigating the regulatory approval process, Washington also invested in a trailblazing program managed by the Life Science Washington Institute: the Washington Innovation Network (WIN) Mentoring Program.
The WIN Program matches scientists and researchers with a team of mentors who have extensive experience building successful companies. The mentorship team guides budding life science entrepreneurs in developing the business skills necessary to create a company that turns science into new FDA-approved therapies and medical devices.
LSW Institute’s WIN Program began a decade ago with only a handful of companies per year. Today, there are nearly 40 companies enrolled, and the program’s 43 graduates have proceeded to collectively raise $3.2 billion in funding to continue growing their companies in Washington state.
Notably, the LSW Institute and its WIN Program are deeply committed to helping women and underrepresented founders succeed. This focus is particularly important because although women make up 45% of Washington’s life science industry, only 20% of biotech CEOs are women in the United States. So, it’s remarkable that half of the companies in the WIN Program are led or founded by women, highlighting the program’s commitment to addressing this disparity. The LSW Institute has also recently introduced a range of initiatives to support researchers and entrepreneurs from diverse backgrounds and rural communities in acquiring federal research funding to build their companies.
State Investments Making a Difference
CARE Fund and the WIN Program create a virtuous cycle, with the former fueling the research and the latter helping scientists translate their discoveries into tangible therapies and cures for patients. And, both programs have been an overwhelming success – the region’s research institutes attract over $1.3 billion in federal research funding from the NIH annually, and local companies are developing some of the most advanced cancer therapies in the world.
Washington state’s history of investing in innovative programs like CARE Fund and WIN has had profound impacts across not only the state, but the healthcare industry. In addition to helping Washington become one of the top 10 life science clusters in the country, the innovations being produced here are fundamentally contributing to our collective understanding of complex, deadly diseases and enabling us to confront them head-on.
