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A look at how one significant industry cluster in New Jersey is taking advantage of proximity to thrive.
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New Jersey’s Thriving Biotechnology Cluster
Debbie HartPresident & CEOBioNJ, Inc. March 1, 2013
About BioNJ
Trade Association Founded in 1994 by biotech
industry CEOsVoice of the Biotechnology
and Biotechnology-related Industries in New Jersey
300 Members
Our Mission
To advancethe biotechnology and
biotechnology related industries in New Jersey
for the benefit of the citizens, the economy and patients
of New Jersey, the U.S. and worldwide
Four Pillars
Public PolicyEducationServicesWorkforce Development
Overview
What is a Cluster?
New Jersey’s Biotech Cluster
Potential for Future Growth
What is an Industry Cluster?
Critical masses in one place of linked industries and institutions—from suppliers to universities to government agencies—that enjoy unusual competitive success in a particular field
Silicon ValleyHollywood
Michael Porter, Ph.D., Harvard Business Review, Nov-Dec 1998
What does it Provide?
ProximityGeographicCulturalInstitutional
What does that Mean?
SynergySpecial AccessCloser relationshipsBetter informationPowerful incentivesOther advantages difficult to tap from a distance
And so on…
Increase the productivity of companies based in the area
Drive the direction and pace of innovation
Stimulate the formation of new businesses within the cluster
A Biotechnology Cluster
Industry TalentAcademic Centers of ExcellenceTechnology Transfer MachinesVenture CapitalistsService ProvidersGovernment
US Biotechnology Industry Clusters
Boston, MASan Diego, CANew Jersey (NYC and Phila)Raleigh-Durham, NCSeattle, WA
New Jersey’s Biotech Cluster
A Brief Introduction
New Jersey’s Many Advantages
Unique and strong pharmaceutical industry base
Highly educated and talented scientific workforce
Highly experienced commercial talent: regulatory and marketing
Supportive State Government
New Jersey’s Many Advantages
Centers of academic excellence at: Rutgers University/UMDNJ, Princeton University, NJIT, various other research institutions
Access to FDA and NIH in Washington Wall Street in NYC Transportation hub with international
access Time zone advantage Excellent quality of life
What NJ Lacks
MIT, HarvardCity CenterVCs compared to
Boston and San DiegoGood PRPositive Self Image
NJ Biotechnology Industry Overview
New Jersey, one of leading biotechnology clusters in the U.S. and the world
30 companies in New Jersey in 199480 companies in New Jersey in 1998More than 350 in New Jersey today
Industry Leaders
Combined Industry Impact – 2009-10
Biotech, Pharma, Medtech Industries
OpEx: $23B (5% total) to State’s Gross Domestic Product OpEx = 200,000 jobsWages: $14B (8.1% of State’s total)CapEx: >$280MM federal, state, local taxes >$7.5B total tax revenue to federal, state, local governments
Rutgers University, 2011
Biotech Generates Important Economic Benefits for NJ
NJ Biotech jobs 15,000 - 16,400 +9.3% 6/10-6/1246% operated in New Jersey for 5 or fewer years37% in business for 5 or fewer years71% anticipated hiring in 2012Oncology remains top area of research
BioNJ / Ernst & Young Survey, 2012
From Whence it Comes…to be
continued…
Other StatesOther CountriesNJ Biotech SpinoutsNJ Pharma SpinoutsAcademic InstitutionsCommercial Talent a drawBig Pharma a draw
Stage is Set: Cool Opportunities
Rutgers/UMDNJ mergerAngel Investor Tax CreditLife Sciences AcceleratorIncubators may investCamden Prison redevelopmentAnd…
A-3680 Pending – GrowNJ++
Overhauls BEIP, BRRAG; helps fulfill State Strategic Plan
Biotech++: Innovation zone, high-salary, targeted industry, R&D collaborations
Incubator pre-approval
Think Outside the Box
Boston Waterfront Innovation District
East River Science Park in NYCNewark????????Camden???????Where Else in New Jersey?
1255 Whitehorse-Mercerville RoadBuilding B Suite 514
Trenton, NJ 08619609.890.3185 tel 609.581.8244 fax
[email protected] www.BioNJ.org
