Dale Wahlstrom, President and Chief Executive Officer, LifeScience Alley & BioBusiness Alliance of Minnesota

1. “The World Has Changed…what are
we going to do about it?
BIOMEDevice
December 4 , 2013
Dale Wahlstrom
President and CEO, LifeScience Alley and the
BioBusiness Alliance of MN

2. Agenda
1.
LSA Today
2.
A Problem: Innovation Ecosystem
3.
Our Approach to Resolution: The Innovation
Engine
© LifeScience Alley + The BioBusiness Alliance of Minnesota 2011

3. 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 business environment for
life science companies
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© LifeScience Alley + The BioBusiness Alliance of Minnesota 2011

4. Locally Focused/Global Reach
700 Members
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© LifeScience Alley + The BioBusiness Alliance of Minnesota 2011

5. Improving the Environment Through
Connecting
Advocating
Cultivating
Innovation
Educating
Special
Projects
Membership
5

6. LSA Today
Mission: To establish and lead a strategic
approach to improve the business environment
for knowledge-based companies in the region.
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© LifeScience Alley + The BioBusiness Alliance of Minnesota 2011

7. This is a big change for us.
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© LifeScience Alley + The BioBusiness Alliance of Minnesota 2011

8. It is a necessary change
•48,000 people work in the life sciences in
Minnesota.
•Highest per capita medical device concentration
in the world.
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© LifeScience Alley + The BioBusiness Alliance of Minnesota 2011

9. In medical device Anything, good or bad, is more
good or bad for Minnesota than anywhere else in
the world.
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© LifeScience Alley + The BioBusiness Alliance of Minnesota 2011

10. Mission shifts to improving the operating
environment for your companies.
We want to set the stage for growth.
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© LifeScience Alley + The BioBusiness Alliance of Minnesota 2011

11. Three Large Focuses
1. Improve access to capital.
2. Improve access to global
markets, technology, talent.
3. Improve relationships among public, private
and academic sector.
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© LifeScience Alley + The BioBusiness Alliance of Minnesota 2011

12. Will focus on Third Problem Today
Improve relationships among public, private and
academic sector.
- Most complex
- Most Fundamental
- Individual companies least able to impact
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© LifeScience Alley + The BioBusiness Alliance of Minnesota 2011

13. A Problem
Key constituencies for innovation eco-system are
not aligned.
Innovation Ecosystem is the interaction of
public, private and academic sector actors.
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© LifeScience Alley 2012

14. Innovation Eco-System
“Utopia”
Academia
Private
Sector
Government

15. MN Innovation Eco-System
1980’s- early1990’s
Academia
Private
Sector
Government

16. MN Innovation Eco-System
Late 90’s – 2000’s
Academia
Private
Sector
Government

17. MN Innovation Eco-System
2008 - 2010
Academia
Private
Sector
Government

18. MN Innovation Eco-System
2013
Academia
Private
Sector
Government

19. MN Innovation Eco-System
Evolution
Academia
Academia
Government
Private
Sector
Private
Sector
Government

20. Our Approach to Improving:
The Innovation Engine: A comprehensive
approach to improving policy, relationships
and culture among Minnesota’s public, private
and academic sectors.
20

21. The Innovation Engine
- Guided by strategic plan: Destination
2025
- Available on our website
- 5+ years, multi-million dollar investment.
- Long term project to reshape culture.
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22. Practical Examples of our work
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23. Tech Transfer
Partner with Mayo Clinic and University of
Minnesota on Tech Transfer reform.
- Create industry dialogues to identify
problems/solutions.
- Angel Investor Credit and refundable R&D
Credit to ease early stage capital access.
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24. Relationship building
• Dialogue with academic and private sector
researchers to build common ground.
• Training program to ease transition of people
from academic research to industry.
• Joint Fellowship with University of MN: MDC
• Joint MBA degree with the U of St. Thomas
• Bring knowledge of market need to interested
researchers to inform (not direct) decisions.
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25. Product Approval Process
Partnership with FDA on regulatory science: MDIC
- Improving underlying science in product
submission and approval
- Safe haven for industry/FDA to interact outside
of submission process.
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26. Our Industry has many Challenges
LifeScience Alley desires a systematic approach to
remove them.
- Give us feedback.
- Be involved.
- Be patient.
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27. Thank you
dwahlstrom@lifesciencealley.org
www.lifesciencealley.org
Director of Membership Services
Frank Jaskulke
fjaskulke@lifesciencealley.org