To be eligible for admission into the Broad Hollow Bioscience Park (BHBP), early-stage companies must be in the field of biotechnology and have:
- adequate funding
- a formal business plan ready for implementation
- capable management
- potential job creation
- synergism with BHBP tenant companies
- the ability to enrich the college by providing an enhanced environment
for both students and faculty.
The Board of Directors selects tenant companies on a case-by-case basis. The evaluating criteria include the merits of the business plan, credentials of the principals and management team, growth potential and the ability to interact with Farmingdale State College. For reasons of time and confidentiality, BHBP recommends the availability of two types of documents: a two-page summary and a supporting business plan. Any confidential pages should be marked as such.
Tenant companies are required to operate their business in an ethical manner in compliance with all governmental regulations; prompt remission of all invoices is required and periodic financial reports to Broad Hollow Bioscience Park, including employment figures, must be submitted.
All individual company information is kept confidential.
BHBP is designed to assist the development of early-stage companies. Successful companies will graduate from BHBP to allow other early-stage companies the opportunity to utilize the facility to establish their businesses. A company’s tenancy will depend on its ability to meet its stated goals and growth estimates, and the ability to interact with Farmingdale State College and BHBP.
The goal of BHBP is to establish long term relationships with its tenant companies
and to assist them following graduation. For this reason, BHBP is working with outside
real estate developers and brokers to ensure the successful location of biotech companies
into the Route 110 Biotech Corridor.