Akron BioMedical Corridor Overview
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Akron BioMedical Corridor Overview Presentation Transcript

  • 1. Akron Biomedical Corridor 1
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  • 4. Ohio Market Sectors Agricultural Research, Testing, &Feedstock & Chemicals Drugs & Medical Devices Hospitals Medical Laboratories Pharmaceuticals & Equipment  Agricultural  Biological processing  Laboratory  Specialty  Medicinal apparatus & research hospitals  Basic organic & furniture  Commercial chemicals botanicals  University medical  Surgical, medical  Ethyl alcohol  Pharma- medical, dental, research mfg. research ceutical ophthalmic hospitals  Testing  Organic fiber preparation & analytical laboratories mfg. s instruments &  Clinical equipment research  Medical  Fertilizers  Diagnostic institutions laboratories substances  Irradiation &  Pesticides and apparatus & other  Biological diagnostic electromedical imaging agricultural products chemicals equipment centers Product-Oriented Service -Oriented 4
  • 5. There are approx.50 orthopedic companies in NEO; Other global players are within 3-4 hours drive.* Total Ohio bioscience establishments are 1141 (March 1, 2009) 5
  • 6. 6
  • 7. Ohio By-The-Numbers, Then & Now Indicator Then Now GrowthBioscience Companies 170 (1991) 1,318 (2010) 7.75xCompany Locations 1,302 (2000) 1,743 (2011) 1.34xBioscience Employees 52,062 (2000) 60,636 (2011) 1.16x 79 (2010)Company Starts per Year 46 (2000) 1.7x 68/yr (AVG 2000-2010)Company Expansions 16 (2005) 56 (2011) 3.5xNational Institutes of Health (NIH) $470 M (2005) $711 M (2011) 1.5xSmall Business Association (SBIR/STTR) $8 M (2000) $24.5 M (2010) 3.1xNational Science Foundation (NSF BIO) $9.3 M (2000) $14.8 M (2011) 1.6xPrivate Capital Raised (excluding acquisitions, IPO) $14 M (2001) $217 M (2011) 15.5xCompanies Receiving Private Capital (including acquisitions, IPO) 12 (2004) 102 (2011) 8.5xOhio Based Bioscience Capital Sources 4 (1991) 91 (2012) 7.6xBioOhio Membership 52 (1991) 420 (2012) 4.9xBioscience Related Patents 499 (2004) 685 (2011) 1.4x NIH, SBIR/STTR, NSF awards included based on relevance to bioscience and life-science fields, non-bio related awards are excluded. Dollar figures are historical, not adjusted for inflation. Sources include research conducted by BioOhio and its partners. Data or specific sources available upon request. Table updated July 2012. 7
  • 8. Ohio Third Frontier Program 10 year, $1.6 billion, 60% funding into BiosciencesCommercialization Framework Programmatic Focus 8
  • 9. Third Frontier Project Ohio’s 10-year, $1.6 billion Third Frontier Project launched in February 2002. This project is the state’s largest ever commitment to expanding high-tech research capabilities and promoting innovation and company formation to create high-paying jobs. In May 2010, Ohioans voted to extend the Third Frontier Project with an additional $700 million over four years starting in 2012. Since 2002 over 100 diverse bioscience-related projects have been funded. In 2011, 28 new bioscience projects were funded by the Third Frontier, totaling over $40 million and matched by more than $42 million in private funding. Ohio Third Frontier Bioscience Awards by Year Year Number of Awards Award Matching 2002 10 $35.84 $67.25 For more information and 2003 8 $48.48 $100.58 2004 5 $45.65 $76.06 metrics on the Ohio Third 2005 7 $75.35 $112.45 Frontier Project, visit: 2006 10 $154.73 $273.80 2007 8 $135.24 $92.16 2008 18 $98.30 $105.45 www.thirdfrontier.com 2009 9 $39.68 $46.00 2010 27 $55.63 $83.74 2011 28 40.94 $42.31 Total 130 $729.84 $999.82* This table includes awards from multiple OTF programs, including the OTF Biomedical andOTF Medical Imaging programs. 9
  • 10. 25. Foundation Medical Partners 50. Scius (Spire Capital)1. Adena Ventures 26. Frantz Medical Ventures 51. Soin International2. Akron ArchAngels Network 27. Glengary Ventures 52. RMS Investments3. Alpha Capital Partners 28. GLIDE Fund 53. Rocket Ventures4. Arboretum Ventures 29. iNetwork BioOpportunity 54. Southern Ohio Creates Capital5. Athenian Ventures 30. Innovation Fund of LCCC 55. Summit Health Ventures6. Battelle Ventures 31. Isabella Capital 56. Sycamore Partners7. Blue Chip Venture Company 32. JumpStart 57. Talisman Capital8. Blue Point Capital 33. Kadima Partners 58. TechColumbus TechGenesis9. Bridge Investment Fund 34. Miami Valley Ventures 59. TechColumbus RCF10. Case Technology Ventures 35. Morgenthaler Ventures 60. Teton Capital11. Charter Life Sciences 36. Mutual Capital 61. Triathlon Medical Ventures12. Chrysalis Ventures 37. NCIC Capital13. CID Equity Partners 38. NCT Ventures14. Cincinnati Childrens Tomorrow Fund 39. North Coast Angels Ohio Health Care Venture15. CincyTech Ventures 40. Oakwood Medical16. Cleveland Clinic Innovations 41. Ohio Tech Angels I, II & III17. Core Network 42. Primus Capital Funds…More than 100 have18. Draper Triangle Ventures 43. Queen City Angels19. Early Stage Partners 44. Radius Ventures invested into20. Edgewater Capital 45. Redwood Holdings21. Entrepreneurs “E” Fund 46. Reservoir Ventures22. Everett Partners 47. River Cities Capital Funds Ohio bioscience companies23. Fletecher Spaght 48. Riverside Capital24. Fort Washington Capital 49. Rivervest Ventures 10
  • 11. 11
  • 12. Average Annual Percentage Change in Employment, Establishments, Payroll & Average Wages for the Northeast Region Northeast Ohio In 2011, the region accounted for 35% of the total bioscience employment (21,029), 37% of the total bioscience payroll ($1.7 billion), and 42% of the total number of bioscience locations (729). From 2000 to 2011, the northeast region consistently reported the highest bioscience employment, payroll, and number of locations of any Ohio region. Employment, Payroll, Average Wages, and Locations, Northeast Region, 2011 Subsector Employment Payroll ($) Average Wages ($) LocationsAgricultural Biotechnology 3,812 $575,893,356 $151,074 58Medical & Testing Laboratories 3,301 $162,293,524 $49,165 238Medical Device & Equipment 9,500 $594,038,200 $62,530 293Pharmaceuticals & Therapeutics 2,576 $226,318,095 $87,856 30Research & Development 1,840 $142,537,048 $77,466 110Total 21,029 $1,701,080,223 $80,892 729 12
  • 13. Northeast Ohio Economic Impact of Bioscience, 2010 Impact Employment Output Value Added Labor Income Direct 20,719 $11,438.61 $1,464.24 $413.31 Indirect 29,580 $4,989.48 $2,573.60 $1,612.38 Induced 15,994 $1,768.81 $1,070.13 $595.38 Total 66,293 $18,196.90 $5,107.97 $2,621.08Output, Value Added, and Labor Income are in millionsEconomic Impact of Bioscience by Subsector, 2010 Subsector Employment Output Value Added Labor Income Tax Agricultural Biotechnology 23,628 $9,016.24 $2,035.63 $1,071.77 $467.35 Medical & Testing Laboratories 5753 $657.25 $227.15 $133.69 $45.96 Medical Device & Equipment 18559 $3,971.75 $1,336.17 $577.21 $241.93 Pharmaceuticals & Therapeutics 15204 $4,149.92 $1,379.53 $745.62 $279.86 Research & Development 3149 $401.75 $129.49 $92.78 $28.31 Total 66,293 $18,196.90 $5,107.97 $2,621.08 $1,063.42Output, Value Added, Labor Income, and Tax are in millions 13
  • 14. 3 cities in the top 40 Biotech locations in USA #4 in biotechnology industry strength in 2008 State City Rank OH Cleveland-Akron 20 Columbus 22 Cincinnati 28 All three cities rank higher than the 100 city average in Research grant awards in Bio- Sciences $630 Million in NIH Awards in 2008! 14
  • 15. Akron is the place to be forLife Science Companies 15
  • 16. The Akron Biomedical Corridor• Established by the Mayor in July 2006 following a business mission to Israel• Akron is well positioned to develop a world class biomedical innovation district given its research, healthcare and community assets.• 500+ acre area which arcs around downtown Akron• Links – Three world-class hospitals • Summa Health System • Akron General Medical Center More beds than the • Akron Children’s Hospital Clev. Clinic or UH – The Austen Bioinnovation Institute in Akron (ABIA) • Center for Biomaterials and Medicine • Medical Device Development Center • Center for Simulation and Integrated Healthcare Education • Center for Clinical Trials and Product Development • Center for Community Health Improvement – The University of Akron • Top Polymers and Biomaterials programs 16
  • 17. The Akron Biomedical Corridor(Cont.)• Effective collaboration of 3 health systems, the U of Akron, ABIA, NEOMED, Summit County, the Chamber, private businesses and not for profit organizations( Knight Foundation, UPA)• Provides strategic geographic location for biomedical technologies, products, services, R&D, business development as well as clinical trials and test marketing• The State designation of Akron as an Ohio Hub of Innovations and Opportunity for Biomaterials Commercialization offers the potential for greater recognition and attraction power 17
  • 18. Akron BiomaterialsCommercialization Hub 18 18
  • 19. Vision and MissionVision Become a globally recognized leader in commercialization of innovative biomedical technologies, products and services resulting in improved patient care, job creation, wealth creation and redevelopment of the City’s urban core.Mission Leverage Greater Akron healthcare and community strengths to attract , support and grow biomedical technologies and businesses 19
  • 20. Akron’s Biomedical Assets Three nationally ranked healthcare systems (2 adult; 1 children)  Over 20,000 physicians, specialists and staff  Nearly 1300 beds  Over 1.5 M annual outpatient visits  Over 65,000 patient admissions Outstanding research and medical institutions  The University of Akron with top national polymer college with outstanding materials and biopolymers science and technology  NEOMED medical school with strong research in skeletal biology  ABIA (Austen Bioinnovation Institute in Akron) Numerous innovative companies and advanced research institutions with following areas of focus:  Orthopedics; Advanced burn, wound care and tissue engineering  Chronic diseases; Imaging and diagnostics  Pediatrics; Skin hygiene, anti microbial formulations and delivery devices  Supply chain support Northeastern Ohio Consortium for Wound Healing Research and Education (Heal Ohio™ Collaborative) Ohio and the region are home to the highest concentration of health care VC firms between the coasts, top 5 in the country.  Increased activity of local investment groups (GAIP, Everett Partners, ArchAngels, et al)  Akron BioInvestments Funds  Strong public-private partnerships (stability and continuity of leadership) 20
  • 21. Akron Global Business Accelerator Proven Economic Results in the center NEOinc Tenants (FY08-11) • $203 Million—Total Sales Revenue • $63 Million—Total Investment • 382 Jobs Created • $59 Million—Total Payroll • 21 Patents Issued • 90:1 Leverage*(Sales Revenue + Investment)/Edison Funding 21 21
  • 22. Akron’s Competitive Advantage …. Translates into your “benevants”• The Akron community has a proven history of innovation and transformation• Our community it ―tight‖• Our community is the portal• You are at the ―head of the line‖ to all that the region offers 22
  • 23. THE BRIDGES WE ARE CREATING The BioFinland Bridge The Chemnitz Bridge The Israeli Targetech Bridge The LeMans Bridge Others under development 23
  • 24. Shared Values• Flat world- never too early for international cooperation• BioScience/BioAgricultural/Cleantech sectors key to a healthy society• Power of ―team approach‖ … a people to people business based on mutual trust with ―boots on the ground‖• International collaboration is not new for Ohio• Leveraging existing networks is beneficial to both 24
  • 25. Why are we building bridges? • Create a two-way informational networking infrastructure to facilitate cooperation and business-economic development • Increase basic science, R&D and clinical collaborations between Ohio and institutions, researchers and companies globally • Advance work force development, education and training through exchange programs, professional delegations and conferences • Develop an international bridge fund to help early stage companies ready to expand outside of their existing market • Reduce risk 25
  • 26. KEY SUCCESS CHARACTERISTICS• IDENTIFY INTERNATIONAL INNOVATION CENTERS THAT MATCH UP WITH AKRON STRATEGY AND ASSETS• AREAS THAT ARE HUNGRY FOR CHANGE• AREAS WILLING TO TAKE A RISK/CAN DO ATTITUDE• AREAS WITH LIMITED BUREAUCRATIC BARRIERS• AREAS WILLING TO INVEST RESOURCES• AREAS THAT HAVE BUSINESS DEVELOPMENT ASSISTANCE STRUCTURES AND NETWORKS IN PLACE 26
  • 27. Key Success Factors &Lessons Learned• Define & clarify universal needs• Take the time to build a strong team• Be sure actions are two way• Soft landing zones should be ―sticky‖• Public-private partnerships needed• Consistency and stability in leadership• ―Boots on the ground‖ make the difference 27
  • 28. Flow Diagram Bio-Finland Technology BridgeR&D-University R&D-Hospital Networking -University-Labs -Hospital Bridge -LabsBus. Dev. Bus. Dev.-Company Qualified R&D Qualified HBSP AGBA -Company-Consultant Early Stage Early Stage Company Radvisor BD REA Inc Company -Consultant$$ $$ $$-Public -Public-Private -PrivateSoft Landing Zone Soft Landing Zone (Defined by Agreements) (Defined by Agreements) Stakeholders City/State Economic Development- fund start up and operations Companies- fund incentive (transaction) based aspects with fees & success sharing 28
  • 29. Akron and Helsinki are “soft landing zones” and Portal Cities to larger markets Akron Helsinki Soft Landing Zone Biomedical Corridor Soft Landing Zone Akron Global Business Accelerator Helsinki Business & Science Park Akron Chamber Viikki Food Center Akron General Culminatum Summa Ministry of Employment & Technology Akron Children’s Greater Helsinki Promotion NEOUCOM VTT U of Akron Biomedicum 1,2,3 Kent State University of Helsinki ABIA Tekes ODOD Sittra ADC Veraventure Angel networks Inventi Others Others Ohio and North Finland and America EU 29
  • 30. AKRON’S FUTURE• TO CONTINUE OUR LEGACY AS A CITY THAT REINVENTS ITSELF• TO ACCELERATE THE TRANSITION TO THE KNOWLEDGE ECONOMY• TO TAKE ADVANTAGE OF ITS FOUNDATION CLUSTERS BY FOCUSING ON BIOMATERIALS,ORTHOPAEDICS, WOUND CARE AND BIOMEDICAL DEVICES• TO CONTINUE TO BE A PLAYER IN THE WORLD ECONOMY• TO ATTRACT WORLD-CLASS TECHNOLOGIES AND TALENT 30
  • 31. What Can We Do To Help?Akron Global Business City of AkronAccelerator Robert Y. Bowman526 South Main Street Deputy Mayor, Economic DevelopmentAkron, Ohio 44311 330-375-2133Robert E. Anthony Sam DeShaziorPH: 330-571-0574 Deputy Planning Directorranth44341@aol.com SDeShazior@AkronOhio.govwww.akronbiomedicalcorridor.com The Akron BioMedical Corridorwww.akronaccelerator.com Dr. Zev Gurionwww.ci.akron.oh.us Executive Director 330-258-0120 zgurion@akronbiomedicalcorridor.com 31