Life Sciences: Perceived Successful Organizational Strategies

June 16, 2010 at 10:01 am Leave a comment

Who is perceived to have the best organizational strategies for developing the life science sector or cluster? Click here to read a benchmarking study done for Detroit area leaders. By the way, Seattle is seen as one of the best! But Seattle and Washington State have two significant weaknesses according to the study:

The first is a perceived lack of commitment, financial and otherwise, on the part of the state government. The state ranked relatively low in per capita spending on R&D. Historically, this made it difficult for research institutions pursuing federal funding that required a “hard match” of state dollars as a prerequisite for federal funding. One of the consequences of this limited funding was that it made it more difficult for the state to attract the greatest research talent. Experience suggests that research talent flows to where the greatest research opportunities exist.

A second issue identified as a weakness was the lack of an organized public-private partnership. Without this infrastructure, the state has not been able to develop a coherent strategy or provide sufficient communication to relevant stakeholders. This shortcoming prevents Washington State from taking full advantage of the many innovative assets at its disposal. This also has prevented the state from fully capitalizing on the commercial potential of its available assets. As in other locations, many stakeholders feel that commercialization of life sciences has not been commensurate with the amount of research capacity.

Sustainable funding stream! Strategic collaboration! Sound familiar? These are two key issues for the stakeholders in Project Concentrus. There are lessons to be learned here.

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Entry filed under: Best Economic Development Organizations, Best Practices, Industry Clusters, Innovation Clusters, Life Sciences. Tags: , , , , , .

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