MBC Releases Landmark 2015 Strategic Report

April 14, 2009
Massachusetts must promote collaboration in the life sciences and improve access to capital in order to maintain its position as a world leader in biotechnology, according to the Massachusetts Biotechnology Council's 2015 Strategic Report released today.

The report entitled "Continued Leadership Through Collaboration" recommends increasing interaction between industry and investors, more frequent events designed for networking and collaboration, and coordination of a clear recruitment and retention strategy for the state. The report was released at the MBC 2009 Annual Meeting held today at the Seaport World Trade Center in Boston. More than 400 leaders of Massachusetts' biotech super cluster attended.

"During this time of economic challenge and intense global competition, it is essential that biotech, academic and government leaders in Massachusetts share a vision for the future," said Robert K. Coughlin, MBC President and CEO. "The MBC's hope is that our 2015 report will serve as the basis for the advancement of both collaboration and innovation in the Commonwealth."

The Annual Meeting centered on the MBC's newly-released 2015 strategic plan, "Continued Leadership Through Collaboration," which identifies six areas of focus as key components that will play a role in the success of the biotechnology industry:
  • Scientific Collaboration and Innovation: Promote continued innovation and collaboration in research and development so that Massachusetts can retain and enhance its world class position in this area
  • Capital Formation: Improve access to capital in the short and long-term by promoting and enabling access to various funding sources through meaningful events and advocacy
  • Business Services: Provide services that help companies increase their operational efficiencies and reduce their burn rate
  • Talent: Enhance and accelerate efforts to attract, develop and retain biotech thought leaders and talent at all levels
  • Company Recruitment and Retention: Improve company recruitment and retention efforts through proactive strategies and marketing efforts aligned with initiatives undertaken by the Commonwealth and other economic development partners
  • Industry Representation: Improve the industry's representation and raise MBC's level of influence through collaborations with other associations and clusters and by raising public awareness of biotech through continued marketing campaigns and advocacy
Successive panel discussions specifically addressed the issues of retaining talent in Massachusetts for its biotech workforce development pipeline, as well as for increasing collaboration efforts between industry, academia and government. Among the speakers were Frank Hatheway, Chief Economist of the NASDAQ Stock Market, Lita Nelsen, Director of the MIT Technology Licensing Office, and the Hon. Governor Deval Patrick.

The MBC also presented its first-ever Innovative Leadership Award to EMD Serono, Inc., President & CEO Fereydoun Firouz for his organization's extensive support of not only the MBC, but of Massachusetts' biotechnology industry as a whole.

The 2015 Report Executive Summary can be downloaded online here.

The full report can be downloaded online here.

To volunteer to help with executing the 2015 Report in any of the six key focus areas, email 2015Report@massbio.org .
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