A message from Supervisor Jim Desmond:
A message from Supervisor Jim Desmond:
The San Diego region is one of the top locations in the world for the life science industry. The industry serves as a major economic driver in San Diego, totaling $33.6 billion in economic impact. This field of work is responsible for hundreds of thousands of jobs, employing more than 360,000 individuals in 2016. The San Diego area is home to over 1,225 life sciences companies and more than 80 independent and university-affiliated research facilities in the San Diego area. With endless opportunities and growth, Black employees make up 4% of the industry. Black Executives and Board members make up only 1% of the industry.
A current initiative of the Chamber is fostering more equity and inclusion as well as opportunities for Black professionals and entrepreneurs to succeed in this space. On December 8th, the Chamber sponsored a seed pitch competition hosted by the National Society of Black Engineers. The winning company NewGait took home $2500 in cash, prizes, and complimentary services. The NewGait a medical rehabilitation device, and is responsible for treating individuals with gait abnormalities. It is intended for physical therapy uses, and has transformed the lives of many patients. The product was conceptualized by San Diego resident, Benga Adeeko, in 2014, with original intentions of the product being used for athlete training purposes. After being developed for years, the NewGait came to light in 2016 after physical therapist Kim Spranger saw what benefits this device could bring to her patients. The NewGait technology pivots this field of medicine to being both effective and affordable, costing thousands of dollars less than leading treatments for these conditions.
After winning the competition, Benga Adeeko shared in an interview, “… we need more Black founders to start companies in the life science and biotech industry. There is a big opportunity to not only build wealth but also make an impact in the healthcare industry.
Other Black owned Life Science companies that are making great strides in San Diego include, Roswell Biotechnologies, the pioneer in the development of a molecular electronics platform for DNA sequencing. Led by founder, Paul Mola, recently announced that it is a member of a team led by Georgia Tech Research Institute (GTRI) that has been awarded a US government contract worth up to $25 million to develop a sequencing technology capable of reading data stored in DNA.
As a partner of the San Diego & Imperial SBDC Network, we are here to help make sure you can complete your application for the California Relief Grant. There are recorded webinars and live webinars, available in English, Spanish, and other languages too. Visit https://www.sdivsbdc.org/
These are all the webinars that are coming up, including recorded webinars as well.
English, Live – Jan 4 at 1 pm https://sdsbdc.ecenterdirect.
Arabic, Live – Jan 5 at 10 am https://sdsbdc.ecenterdirect.
Spanish, Live – Jan 5 at 11 am https://sdsbdc.ecenterdirect.
Spanish, Live – Jan 5 at 1 pm https://sdsbdc.ecenterdirect.
Swahili, Live – Jan 5 at 3 pm https://sdsbdc.ecenterdirect.
English, Live – Jan 6 at 1 pm https://sdsbdc.ecenterdirect.
Spanish, Live – Jan 7 at 1 pm https://sdsbdc.ecenterdirect.
We also have recorded webinars (on-demand)
English, on demand https://sdsbdc.ecenterdirect.
Spanish, on demand https://sdsbdc.ecenterdirect.
Arabic, on demand https://sdsbdc.ecenterdirect.
Also, as a specialty, we have with the San Diego Foundation, have California Relief Grant for Nonprofits https://sdsbdc.ecenterdirect.
If you would like more information on any of the individual events, please go to our calendar.
On December 27, President Donald Trump signed a $900 billion pandemic relief package, the Consolidated Appropriations Act, 2021. This package includes supporting crucial elements of our economy, including stimulus checks for individuals, support for small businesses, vaccine distribution, and more.
On Tuesday, December 29, the news was released that the latest round of COVID-19 stimulus payments will begin. As the second round of stimulus checks are being dispersed, Americans can expect a $600 stimulus for individuals who meet income requirements. Couples can receive up to $1,200 and eligible families can receive $600 per child.
The legislation provides more than $300 billion in aid for small businesses. Out of this aid, $284 billion is allocated to Paycheck Protection Program loans (PPP), $12 billion towards to minority-owned business and $15 billion to live venues, theaters, and cultural institutions. Businesses can apply whether or not they have received these loans in the past. This bill includes set-asides for small businesses (less than 10 employees), making these loans more accessible for small businesses.
With the United States beginning a first wave of COVID-19 vaccinations, part of this package focuses on funding the development and distribution of the vaccine. $16 billion has been set aside for this, aiming to eventually put an end to the pandemic. To learn more about these payments and eligibility requirements, please click here
If you need technical assistance, the CSDBCC in partnership with the Small Business Development Corporation (SBDC) will be offering free workshops until the closing of application on Wednesday, January 13, 2021. To register, please take a look at our upcoming events here.
The California Office of the Small Business Advocate (CalOSBA) is administering the $500 million grant program. On November 30th, the Governor and the Legislature approved assistance for grants ranging from $5,0000 up to $25,000 for eligible small businesses and nonprofits impacted by COVID-19.
Please be advised: Applications are only open from Wednesday December 30th – Friday January 8th. Visit CAReliefGrant.com now to begin preparing your documents needed to apply.