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Persuading the private sector to accept a handout from California's $3 billion stem-cell institute might strike some as a no-brainer. After all, what business wouldn't take the money?
But there's a catch: Although companies now have a chance for the first time in the institute's three-year history to apply for its money, they may wind up having to share some of their revenue and research. And that is giving some companies second thoughts about participating.
The California Institute for Regenerative Medicine, which so far has awarded about $260 million in grants to non-profit institutions, today will begin to get an inkling of how many businesses are interested.
The agency is offering businesses in the state a chance to apply for two types of grants, totaling $26.1 million. One category, which applicants must respond to by today, is for teams of scientists to begin planning how to use stem cells to treat diseases. The other, which requires a response by Jan. 10, is to create stem-cell colonies for research.
Persuading companies to participate in the voter-mandated institute is considered crucial if...