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In July, David Day, Assistant Vice President for Technology Transfer and Director, Office of Technology Licensing for the University of Florida, met with the BDB’s Life Science Task Force. Day discussed strategies for accelerating the commercialization of life science technologies and the growth of life science companies, based on his 20 years of experience at UF. Under his leadership, UF’s Sid Martin Biotechnology Incubator has grown to be named one of the top incubators worldwide, and UF’s Innovation Hub Mixed Industry Incubator has also had considerable success. UF is also recognized as one of the most active universities in technology transfer nationwide.
Day stated that a strong life science community needs to build five things simultaneously:
Day particularly stressed the need to match scientific talent with experienced and successful business management that can shepherd the young company through fundraising and growth.
The attendees also discussed the shortage of appropriate startup space in the county. Day encouraged the group to work together on a cohesive 20-year plan for industry growth, with the expectation that it would require multiple pieces. He noted that to be successful with such a plan, all participants would need to support each other’s plan elements in turn over many years.
The BDB was pleased to convene this important and instructive session, and to enlist David Day as an importance resource for PBC’s life science community.
The Business Development Board recently contracted with Facility Logix, LLC to conduct an analysis of the life science industry in Palm Beach County. This study will provide a comprehensive inventory of the life sciences companies, institutions, support organizations and other entities in the county, resulting in a thorough understanding of the science and development being conducted here, the strengths that are present, and the gaps that need to be filled so that the industry truly fulfills its potential.
The study will provide objective validation of the state of the industry in Palm Beach County, as well as a blueprint for filling the industry gaps. The results will be presented to county and state elected officials for strategic planning purposes, and used to build a solid coalition to enact short and long-term initiatives to build the industry in Palm Beach County.
BDB Presidents Level member Jupiter Medical Center recognized the importance of this initiative, and jump-started it with a leading investment of $10,000. Special thanks are due to JMC President and CEO John Couris for his leadership. The BDB is building a diverse group of early supporters for this effort: please let us know if you and your company would like to participate in this transformational undertaking.
The BDB will hold a kick-off meeting with industry stakeholders in late August.