AUSTIN, Texas–The Austin Technology Incubator (ATI), a program of the IC2 Institute and The University of Texas at Austin that accelerates early-stage technology companies, has introduced the Bioscience Incubator.

“The Bioscience Incubator is a natural extension for us,” said Isaac Barchas, ATI’s director. According to a 2006 study done by the Milken Institute, The University of Texas System produced more bioscience patents than any other university from 2000-2004.

The City of Austin has invested $125,000 in the new incubator.

“Emerging technology is a fourth pillar of the city’s economic development policy, which is why the city decided to make the investment in ATI’s latest efforts,” said Brewster McCracken, a member of the Austin City Council. “The biotech and life sciences industry is one of the top sources of venture capital funding globally. If Austin is going to remain a first-rate tech city, it has to have a stout biotech component.”

The Bioscience Incubator is the fourth incubator formed inside ATI since it was founded 18 years ago. The others have been Information Technology, Clean Energy and Wireless.

“Specialized incubators allow ATI to provide industry-specific networks and consulting to help our member companies succeed,” Barchas said. “This approach works. Over 70 percent of our recent member companies have attracted investment.”

Barchas, a former member of McKinsey & Co.’s health care leadership group, will be the interim director of the Bioscience Incubator.

He said that the new incubator will “ideally build a bridge between early stage companies’ technology and the investment community.”

Barchas said he welcomes inquiries from Central Texas biosciences entrepreneurs and investors