Massachusetts Gov. Deval Patrick grabbed national headlines at the Biotechnology Industry Organization’s international convention in Boston last week with his pledge to invest $1.25 billion to bolster biotechnology industry and advance stem-cell research.
But more quietly, Rhode Island officials and industry leaders also made their case for locating life-sciences companies in the Ocean State, and they hope it will pay off in the long run.
The BIO convention is the largest gathering of researchers, entrepreneurs and investors in the industry.
To make the most of the opportunity, Rhode Island set up its own booth on the convention floor for the first time, giving economic development officials and representatives from 10 local companies the chance to make their case to about 25,000 industry representatives from across the country and more than 60 nations.
Gov. Donald L. Carcieri also spoke at the event, as part of a May 7 panel discussion with New England government and economic development officials. “This is a great industry for Rhode Island, and in my state I want to see it grow and prosper,” he told the audience.
The booth was shared by the R.I. Economic Development Corporation, the Slater Technology Fund, Amgen, Epivax, Concordia Fibers, Biomedical Structures, the University of Rhode Island and others involved in life sciences in Rhode Island.
Andy Cutler, a spokesman for the EDC, said the joint effort not only made the $100,000 cost of the booth affordable, but it also allowed the Rhode Island group to highlight the partnerships, cooperation and resources that make Rhode Island fertile ground for biomedical research.
“It presented Rhode Island in a very unified front to say, ‘In a small state, you can access all of these different assets – here’s what they are,’ ” Cutler said.
Meanwhile, at the panel discussion, Carcieri recited a list of initiatives undertaken in Rhode Island to support biotechnology and other industries, including the creation of several tax credits; work force development efforts; the establishment of a statewide public school curriculum in math, reading and writing; the construction of a $60 million Center for Biotechnology and Life Sciences at URI; the establishment of the Science and Technology Advisory Council; and the ongoing work to make Rhode Island the first state with its own border-to-border wireless broadband network.
“We have to compete on innovation, and that’s been our whole theme,” Carcieri said, adding that his administration works constantly to be business friendly and “create the framework so that people will come and feel comfortable doing business.”
Often, that means being a straight shooter with the business community, Carcieri said.
“Look, the worst thing you can tell a business is maybe,” he said. “If it’s no, say no. Because now as a business person I can make other plans; I can go someplace else and do something different. If it’s yes, get me to yes as fast as possible.”
Acknowledging the competition that exists among states trying to build their biotech industries, Carcieri said the New England states need to cooperate and align their economic development strategies.
For biotech companies, the convention offered a chance to network and look for potential business partners across the globe, said Larry Bernard, a spokesman for Amgen. In particular, this year Amgen representatives were on the lookout for partnerships on licensing agreements, Bernard said.
“Maybe other companies or other startups might have molecules that would interest us,” he said. “This convention is the single best place to network with people in the industry, worldwide. There’s no better opportunity.”
