Washington Life Science Startups Struggling to Raise Capital

Life science focused startups located in Washington State are having a hard time raising funding, the Puget Sound Business Journal reported. Silicon Valley venture capitalists from Washington State and the Seattle area held a panel on the subject last week at the 2015 Life Science Innovation Northwest conference in Seattle.
As quoted in the publication:

In Washington state, fundraising in this industry is getting harder and harder. Last week, the Legislaturekilled the Life Sciences Discovery Fund, which helps early-stage companies get past some of the most difficult stages of research and discovery.

Federal grants aren’t always a sure thing, either.

Though venture capital firms focused on life sciences in Washington state are scarce, VCs are now one of the only options companies have to get money. Since VCs are looking for companies that have the potential for a payoff, that could limit the types of companies that grow and succeed in the Puget Sound region.

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