Led by Mayor Julián Castro, the City of San Antonio was joined today by Governor Rick Perry’s Office, County Judge Nelson Wolff, City Manager Sheryl Sculley and InCube Labs Chairman and CEO Mir Imran to announce that InCube Labs plans to establish a branch of its operations in San Antonio. In addition, InCube Labs plans to launch five life science companies in San Antonio over the next five years.
InCube Labs is a Silicon Valley-based life sciences research laboratory focused on developing medical breakthroughs that dramatically improve patient outcomes. The organization is led by Imran who has founded more than 20 companies and holds more than 200 patents.
Imran has created many innovations that have resulted in new standards of care, including the first FDA-approved Automatic Implantable Cardioverter Defibrillator. Imran and his partners also manage a venture fund, InCube Ventures, which invests in life science companies.
As part of the agreement, the City expects that InCube will create at least 50 jobs within the business incubator with salaries ranging from $50,000 to over $200,000. Based on InCube’s track record, the City expects that over a ten-year period, InCube companies will create approximately 400 jobs and will collectively spend approximately $100 million. InCube also expects to partner with TRTF, UTSA and UTHSCSA to identify and facilitate local technology development opportunities, as well as mentor and foster potential entrepreneurs.