San Antonio's approach to biotech Saturday, April 12, 2003 Here's an overview of how San Antonio is connecting its assets in biotech development. The article touches on a number of important aspects of biotech business development. Successful development starts with good science. Building this research base involves both recruiting people and building specialized facilities that are funded with public dollars. Successful development requires thick, closely coordinated networks of business development. Typically, a "bridging" organization, such as a research foundation, plays a key role in building and harnessing this network. Successful development requires sophisticated investors. Biotechnology development requires investors who know enough to evaluate the business development risks. Successful development can be accelerated by promoting lower costs. Secondary biotech markets have an important advantage in lower costs. For start-up companies, places like San Antonio offer lower "burn rates" (the rate at which early money is burned before revenues start). Initial funding lasts longer. Successful development requires steady leadership and time. Biotech development happens with a long term strategy that is consistently implemented and evaluated. To sustain this strategy, leaders need to set reasonable targets, manage expectations, and stay focused -- What's the vision? What's the next step? posted by Ed Morrison |		This work is licensed under a Creative Commons License. links Some Background on EDPro Weblog The purpose of this weblog is to help economic development professionals -- EDPros -- keep up with the changes sweeping our profession. Strap on your goggles. It's a whole new game. There are no experts any more. The only place to learn about economic development is from other EDPros who are doing it. One other point: the prevaling approach (paradigm, if you like) in economic development is shifting from competition to collaboration. There are a lot of reaasons underlying this shift, but here's the important insight: You, your community, and your region will do better by collaborating and sharing information. So, spread the word...Share the knowledge. Tell a friend about EDPro Weblog. If you are using a news reader, here is the link to syndicate this site: Here's the link if you are a bloglines subscriber: Speaking and workshops on Open Source Economic Development As the idea of Open Source Economic Development starts spreading, more people are asking about it. Visit the I-Open web site to learn more. My colleagues and I are happy to explain the basic concepts in a talk or a workshop. E-mail Susan Alshuler if you'd like to learn more about workshops and speaking. Background on Ed Morrison Download some background information on me here.

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