Transcript Dana Boyle
LifeScience Alley is… The largest state-based trade association serving the life sciences in the U.S. Nearly 700 members, in industries employing over 300,000 people Improving the operating environment for life science companies 1 © LifeScience Alley 2012 Locally Focused — Global Reach 700 Members 2 © LifeScience Alley 2012 Convening the Life Science Ecosystem • • • • • • Upsher-Smith • CIMA Labs • Antares Pharma Medtronic St. Jude Medical Boston Scientific 3M Covidien • • • • • • Mayo Clinic • Essentia Institute • Allina-Sister Kenny • U of M • Community Colleges & Tech Schools • MnSCU • Private Colleges • Cargill • Segetis • BioAmber • • • • 3 © LifeScience Alley 2012 Biovest SurModics WuXi AppTec Sanofi DiaSorin Minnesota Canadian provinces European countries Other states & countries • • • • • Consultants Attorneys Clinical studies groups IT/Software Labs Improving the Environment Through Making Connections Cultivating Educating Innovation Advocating Membership 4 © LifeScience Alley 2012 Advocating A solutions-based agenda for shaping policy to benefit the life sciences Working with legislators and other organizations 5 © LifeScience Alley 2012 Coordinating with industry partners Making Connections Facilitating industry-level problem solving in a neutral environment Over 10,000 referrals and introductions per year 6 © LifeScience Alley 2012 Nearly 100 programs to foster community growth and professional networking Educating Keeping Minnesota’s life science workforce up-to-date on skills and trends Nearly 100 educational programs per year 7 © LifeScience Alley 2012 Class topics are member selected and conducted by industry leaders Cultivating Innovation Fostering an environment of commercialization for member industries Developing qualified people 8 © LifeScience Alley 2012 Assessing technology Minnesota Community by the #’s • Overall 48,000 jobs, 1,600 companies • Industry grew 20% in MN compared to 6% nationally from 2000-2010 (Battelle Report). • Bio/pharma sector grew 54% in MN. Nationally declined 3% from 2000-2010. • Slight growth since 2010. © LifeScience Alley 2012 Employment Trends: Flat/Slightly Up • Industry bottom Q3 2009. • Q3 2011 back to pre-recession high. • Surprise stat: Electromedical device employment has grown for 2 quarters after shrinking for 7 quarters. © LifeScience Alley 2012 New Company Formation © LifeScience Alley 2012 Investment Trends: Improving • 2012: $188 million in life science investment across 84 companies. • 2013 YTD: $301 million across 82 companies. ̶ 10 PMA’s ̶ 11 drug firms ̶ 8 Health IT © LifeScience Alley 2012 Core/Mature Markets Historical growth in Minnesota has been driven by these sectors: • Cardiac Rhythm Management • Vascular (cardio, endo, peripheral) • Orthopedic 13 © LifeScience Alley 2012 Emerging Markets Emerging areas for future Minnesota growth include: • • • • • 14 Neuromodulation Drug delivery Cell therapy Diagnostics Health IT © LifeScience Alley 2012 FDA Reform Slow device approval process harms Minnesota more than anywhere: • Highest per capita # medtech employees • Highest per capita PMA filings In response LifeScience Alley led the effort to create the Medical Device Innovation Consortium. www.mdic.org 15 © LifeScience Alley 2012 Medical Device Tax Minnesota is responsible for ~25% of the tax • MN delegation united in repeal (only state) • Opportunity in broader tax reform discussion • Need your continued involvement LifeScience Alley is leading efforts towards repeal. 16 © LifeScience Alley 2012 Life Sciences in France •France Biotech founded in 1997 (www.france-biotech.org/en/) •France is one of the top 5 medical device markets in the world •France is considered a top market for clinical research and trials of surgical tools and interventional medical devices because of their surgical excellence 17 © LifeScience Alley 2012 Leveraging Your Diverse Network Strength of Weak Ties Theory Family Friends You Colleagues 18 © LifeScience Alley 2012 Alumni Neighbors Professional Contacts Shared Hobby ? Tips For Successful Networking •Networking opportunities are everywhere •Get to know people personally & professionally by asking questions and looking for common ground •Build your network before you need it •Being helpful to others will make you more essential •If you take a strategic view of building and leveraging your LinkedIn network, it will begin working powerfully for you •Look for ways to constantly diversify your network •Engaging with your contacts as much as possible will make fluid networking become a habit 19 © LifeScience Alley 2012