Bill Weldon, CEO of Johnson & Johnson, looked over his expansive boardroom table and asked Indiana's new Governor, "So what differentiates your state from the others?", an appropriate question given the purpose of the Governor's visit was to secure retention and expansion of J&J's business operations in Indiana.
In the fierce competition for business investment, what "differentiates" matters. Fortunately, some far sighted Hoosiers at the turn of this Century saw that life sciences could differentiate Indiana from the pack. Traditional manufacturing, steelmaking and assembling automobiles and agriculture, while not replaced, had to be supplemented by new business that would create opportunities for Hoosiers – a job, a reason to stay here after graduation from college or to return "home" later in life. That opportunity is rooted in the life sciences industry.
The 2008 Indiana CEO Survey has, again, recognized the importance of the life sciences industry to the growth of this State. The purpose of this article is to focus on a word that both differentiates life sciences from other economic development efforts and will determine its success – collaboration.
In a business world protected by patents, confidentiality agreements and the first to market mentality, sharing ideas and working openly is, well, different and not without skepticism. But different too are the incredible advances in science and technology that will form the basis of our new products and services of the future. Given the complexity of the sciences and technology and the long lead times and costs of discovery, validation and commercialization, new ways of doing business in life science need to be explored. Higher education needs to produce business managers who are scientists and vice versa. Higher education also needs a K-12 program with skilled math and science teachers who can prepare our students for their futures. The old ways of educating will simply not get us there fast enough. Our governmental, philanthropic and business leaders need to adjust as well. Somehow we all need to get on the same page.
Webster's defines "collaborate" as "to work jointly with others or together especially in an intellectual endeavor." Some of the most interesting "intellectual collaborations" have evolved from premier universities and their involvement with local business managers, lawyers, etc., such as Silicon Valley, the Research Triangle and Route 128. At a recent life sciences conference in Indiana, Mary Walshok of UC-San Diego said the key to San Diego's emergence as a life sciences "center" was due primarily to diverse people and groups meeting together and sharing ideas – all the time. It's taken 40 years or so but San Diego is a national leader.
Credit goes to BioCrossroads and its founders who had the vision to take Indiana's life science assets and focus our efforts to make them even bigger and stronger. Over the past several years, the profile of life sciences in Indiana has been raised. The focus is now on collaboration. A few examples:
These are just a few of the new collaborative efforts that connect people with ideas and translate that into economic development and job creation.
Where are we in the process? The grade has to be excellent given all that's been done in a short time. Nonetheless, much remains to be done. As they say in higher education "it takes years to grow ivy." But even Harvard (speaking of ivy) recently noticed at its business school what the Kelley School noticed years ago. An HBS Centennial Colloquia Reports article titled "Creating Leaders for Science-Based Businesses" dated August 27, 2008, stated:
"It's been said that in this century, carbohydrates will replace hydrocarbons, and biology will supplant physics as the innovation-producing science. As science fiction becomes science fact, and with science-based firms presenting unique challenges for managers, HBS is examining how, in its teaching and research, it can best contribute to what will be a major new force in the American economy."
So, the report is Indiana is doing well, we are on the right track and we are leaders. And, Mr. Weldon, what differentiates us is … we are collaborating.
Harry Gonso is head of the Firm's Life Sciences Practice Group and Former Senior Counsel and Chief of Staff to Governor Mitch Daniels. Harry's primary areas of practice concentration are in general corporate and transaction law and life sciences. Harry can be reached at: harry.gonso@icemiller.com
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