Something like this is already being done. Indiebio just launched in SF and they are doing great work at bringing in pot-doc chemists and biochemists and de-risking their academic work and turning them companies.
Disclaimer, my company Pembient is in the first class.
There are already many well-established biotech accelerators/incubators in Boston (Lab Central, PureTech Ventures, Third Rock Ventures, Flagship Ventures, Atlas Venture, etc.), Seattle (Accelerator Corporation; also in NYC), NYC (Harlem Biospace), and San Diego/Montreal/Vancouver (Inception Sciences).
Disclaimer, my company Pembient is in the first class.