MichBio report outlines path to continued life sciences industry investment, growth

February 21, 2016 - MiBiz

A new roadmap aims to reboot efforts to build Michigan’s life sciences industry and compete with similar clusters around the U.S. and the world.While the industry has come far in the last decade-plus and offers “strong assets,” it remains uncompetitive compared to other states and requires a renewed private- and public-sector effort to grow and meet its potential, according to a report by MichBio, an Ann Arbor-based trade group.

One investor in Michigan’s life sciences industry views MichBio’s Roadmap for Success as aligning key players in the industry — the academic, scientific and business interests. What’s needed is more public-sector awareness in Lansing, said Dale Grogan, managing director of Michigan Accelerator Fund I and Charter Capital Partners in Grand Rapids.

“The other side of the equation is the legislators,” Grogan said.  “I think we still have a ways to go in building understanding and, more importantly, convey the need for sustained investment. Sustained is the word I think we have to underline there because it takes a long, long time to build an industry, particularly one that has lots of regulatory necessities and lots of capital requirements moving into it.” more

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