Another initiative with far-reaching ramifications for the future of the healthcare industry in this region is the Memphis Bioworks Foundation. With a goal of providing support and structure to developing bioscience-related businesses, the foundation is looking to prepare the local market to compete globally and reap the benefits in this burgeoning field. Recognizing the long-term value in this for the community and for UT, Methodist Le Bonheur Healthcare has provided $500,000 in funding for a five-year period to help launch this initiative.