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Slide Notes
In order to achieve and sustain long term growth, Colombian firms must increase their productivity. Long-term investments in Science, Technology, and Innovation (ST&I) can contribute to this goal. Theoretical and empirical evidence suggest that the realization of sustained productivity growth is contingent upon increasing knowledge generation and absorption.
• Colombia has intensified its support to ST&I in the past two decades, but still lags behind in the knowledge economy. The issues that act as specific barriers to knowledge-based growth in Colombia are the following:
a) Overall low levels of investment in ST&I and Research and Development (R&D), with large gaps among regions. Colombia ranks below other Latin American countries in investment in ST&I activities, and particularly in R&D. Investment in science, technology and innovation in 2006 accounted only for 0.4 per cent of GDP, with R&D reaching only 0.16 per cent, significantly lower than neighboring Brazil, which spent three and five times those amounts respectively.
b) Lack of relevance of research and low collaboration between the private sector and knowledge institutions. Research is still highly concentrated in human and social sciences, with limited attention given to the areas of natural sciences and technology. In addition, universities still remain the key actors in research production, hosting more than 95 per cent of the research groups and employing the majority of the national researchers. There is therefore a lack of research that provides knowledge inputs to increase the productivity of the economy.
c) Weak innovation patterns and outputs: Very few large firms have in-house R&D departments, even though evidence has shown that this is an important factor for increasing innovation outputs. Compared to countries of similar size and level of income, Colombia also underperforms in patent filing and innovation in processes, products and practices tends to be scarce in firms of all sizes.
d) Need to strengthen sector leadership and integrate institutions addressing ST&I to ensure better articulated policies and greater impact on research and innovation investments and outputs.
Source: World Bank. 2009. Colombia - Science, Technology, and Innovation Project. Washington, DC: World Bank. http://documents.worldbank.org/curated/en/2009/11/11670449/colombia-science...
• Colombia has intensified its support to ST&I in the past two decades, but still lags behind in the knowledge economy. The issues that act as specific barriers to knowledge-based growth in Colombia are the following:
a) Overall low levels of investment in ST&I and Research and Development (R&D), with large gaps among regions. Colombia ranks below other Latin American countries in investment in ST&I activities, and particularly in R&D. Investment in science, technology and innovation in 2006 accounted only for 0.4 per cent of GDP, with R&D reaching only 0.16 per cent, significantly lower than neighboring Brazil, which spent three and five times those amounts respectively.
b) Lack of relevance of research and low collaboration between the private sector and knowledge institutions. Research is still highly concentrated in human and social sciences, with limited attention given to the areas of natural sciences and technology. In addition, universities still remain the key actors in research production, hosting more than 95 per cent of the research groups and employing the majority of the national researchers. There is therefore a lack of research that provides knowledge inputs to increase the productivity of the economy.
c) Weak innovation patterns and outputs: Very few large firms have in-house R&D departments, even though evidence has shown that this is an important factor for increasing innovation outputs. Compared to countries of similar size and level of income, Colombia also underperforms in patent filing and innovation in processes, products and practices tends to be scarce in firms of all sizes.
d) Need to strengthen sector leadership and integrate institutions addressing ST&I to ensure better articulated policies and greater impact on research and innovation investments and outputs.
Source: World Bank. 2009. Colombia - Science, Technology, and Innovation Project. Washington, DC: World Bank. http://documents.worldbank.org/curated/en/2009/11/11670449/colombia-science...
Colombia Life Sciences Initiative: Transforming Colombia into Latin America's life sciences innovation star
Published on Nov 23, 2015
The Colombia Life Sciences Initiative focuses explicitly on increasing the rate of innovation by encouraging more research and development (R&D) in the Colombian life sciences sector by attracting foreign startups and helping them convert basic research into marketable products and services. New growth theory posits that this activity is the very fountain of economic growth.
MORE DECKS TO EXPLORE
PRESENTATION OUTLINE
Life Sciences Initiative
Transforming Colombia into Latin America's life sciences innovation star
In order to achieve and sustain long term growth, Colombian firms must increase their productivity. Long-term investments in Science, Technology, and Innovation (ST&I) can contribute to this goal. Theoretical and empirical evidence suggest that the realization of sustained productivity growth is contingent upon increasing knowledge generation and absorption.
• Colombia has intensified its support to ST&I in the past two decades, but still lags behind in the knowledge economy. The issues that act as specific barriers to knowledge-based growth in Colombia are the following:
a) Overall low levels of investment in ST&I and Research and Development (R&D), with large gaps among regions. Colombia ranks below other Latin American countries in investment in ST&I activities, and particularly in R&D. Investment in science, technology and innovation in 2006 accounted only for 0.4 per cent of GDP, with R&D reaching only 0.16 per cent, significantly lower than neighboring Brazil, which spent three and five times those amounts respectively.
b) Lack of relevance of research and low collaboration between the private sector and knowledge institutions. Research is still highly concentrated in human and social sciences, with limited attention given to the areas of natural sciences and technology. In addition, universities still remain the key actors in research production, hosting more than 95 per cent of the research groups and employing the majority of the national researchers. There is therefore a lack of research that provides knowledge inputs to increase the productivity of the economy.
c) Weak innovation patterns and outputs: Very few large firms have in-house R&D departments, even though evidence has shown that this is an important factor for increasing innovation outputs. Compared to countries of similar size and level of income, Colombia also underperforms in patent filing and innovation in processes, products and practices tends to be scarce in firms of all sizes.
d) Need to strengthen sector leadership and integrate institutions addressing ST&I to ensure better articulated policies and greater impact on research and innovation investments and outputs.
Source: World Bank. 2009. Colombia - Science, Technology, and Innovation Project. Washington, DC: World Bank. http://documents.worldbank.org/curated/en/2009/11/11670449/colombia-science...
• Colombia has intensified its support to ST&I in the past two decades, but still lags behind in the knowledge economy. The issues that act as specific barriers to knowledge-based growth in Colombia are the following:
a) Overall low levels of investment in ST&I and Research and Development (R&D), with large gaps among regions. Colombia ranks below other Latin American countries in investment in ST&I activities, and particularly in R&D. Investment in science, technology and innovation in 2006 accounted only for 0.4 per cent of GDP, with R&D reaching only 0.16 per cent, significantly lower than neighboring Brazil, which spent three and five times those amounts respectively.
b) Lack of relevance of research and low collaboration between the private sector and knowledge institutions. Research is still highly concentrated in human and social sciences, with limited attention given to the areas of natural sciences and technology. In addition, universities still remain the key actors in research production, hosting more than 95 per cent of the research groups and employing the majority of the national researchers. There is therefore a lack of research that provides knowledge inputs to increase the productivity of the economy.
c) Weak innovation patterns and outputs: Very few large firms have in-house R&D departments, even though evidence has shown that this is an important factor for increasing innovation outputs. Compared to countries of similar size and level of income, Colombia also underperforms in patent filing and innovation in processes, products and practices tends to be scarce in firms of all sizes.
d) Need to strengthen sector leadership and integrate institutions addressing ST&I to ensure better articulated policies and greater impact on research and innovation investments and outputs.
Source: World Bank. 2009. Colombia - Science, Technology, and Innovation Project. Washington, DC: World Bank. http://documents.worldbank.org/curated/en/2009/11/11670449/colombia-science...
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Julio G. Martinez-Clark
President & CEO | www.interventionalconcepts.net
“If you’re changing the world, you’re working on important things. You’re excited to get up in the morning.” -Larry Page
Photo by Steve Rhodes
Pedro Martinez-Clark, MD (founder)
- Harvard-trained interventional cardiologist
- Over 12 years of experience in clinical research and life sciences innovation
- Multiple scientific publications in peer-reviewed journals and book chapters
- International speaker and lecturer
- Co-founder of three medical innovation companies and adviser to others
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"La economía colombiana continúa dependiendo significativamente de actividades primarias y de bajo valor agregado y el surgimiento de sectores sofisticados de alto valor agregado es limitado. Tal como lo afirman el Consejo Privado de Competitividad y la Organización para la Cooperación y el Desarrollo Económico (OCDE), es imperativo que Colombia fortalezca su capacidad de innovación para que pueda competir efectivamente en los mercados globales."
—Consejo Privado de Competitividad, Informe Nacional de Competitividad 2014-2015, Ciencia, Tecnología e Innovación.
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Colombia Needs More
- Patents
- ST&I investigators and innovators
- High-impact scientific & technical publications
- Professional venture capital funds focused on life sciences
- ST&I world-class knowledge transfer
- Export services related to life sciences R&D
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Massively Transformative Purpose
- To transform Colombia into Latin America's life sciences innovation star.
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Untitled Slide
Steve Jobs, Bill Gates. They all shared one key trait: VISION.
"It's the ability to see ahead that truly set these men apart." —The Prime Mowers, Edwin Locke, Ph.D.
In his book The Prime Movers, 1 psychologist Edwin Locke identifies the core mental traits of great business leaders— Steve Jobs, Sam Walton, Jack Welch, Bill Gates, Walt Disney, and J. P. Morgan, to name only a few. While a number of variables contributed to their success, Locke found one key trait they all shared: vision. “It’s the ability to see ahead that truly set each of these men apart,” says Locke. 2 “The data shows that companies consistently fail when they rest on their laurels and think that what worked yesterday will work today or tomorrow. Great leaders all have the ability to see farther and the confidence to drag their organizations toward that vision.
Diamandis, Peter H.; Kotler, Steven (2015-02-03). Bold: How to Go Big, Create Wealth and Impact the World (p. 23). Simon & Schuster. Kindle Edition.
Diamandis, Peter H.; Kotler, Steven (2015-02-03). Bold: How to Go Big, Create Wealth and Impact the World (p. 23). Simon & Schuster. Kindle Edition.
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Did you know that?
- Since 2010, "Start-Up Chile" has attracted over 15,000 applications, has supported over 1,200 startups (300/year) —with 2,000 entrepreneurs— from over 70 countries?
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Did you know that?
- Since 2010, "Start-Up Chile" entrepreneurs have held over 3,800 meetings, workshops and conferences across the country?
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Did you know that
- More than 200,000 Chileans have benefited from the community outreach initiatives organized by the "StartUp Chile" companies?
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Imagine if there were a fast, cost-effective, and impactful way to attract foreign innovative life sciences startups to Colombia to aid in the development of its local life sciences sector?
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You don't have to imagine it. In fact, we have found the way to bring world-class R&D and life sciences innovation to Colombia today.
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Colombia Life Sciences Initiative
Transforming Colombia into Latin America's life sciences innovation star
The Colombia Life Sciences Initiative focuses explicitly on increasing the rate of innovation by encouraging more research and development (R&D) in the local life sciences sector by attracting foreign startups and helping them convert basic research into marketable products and services. New growth theory posits that this activity is the very fountain of economic growth.
Photo by jdlasica
"A focus on encouraging firms in their early stage innovation activity is central to promoting economic growth and prosperity."
—Life Sciences Innovation as a Catalyst for Economic Development, Northeastern University
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When will Colombia be here?
The Global Startup Ecosystem Report 2015
Singapore Success Case
- "With a population of fewer than 4 million in the 1990s, Singapore has had to devise a holistic talent strategy to attract and develop world-class scientists [and companies], both local and international, at all levels and in all areas of the R&D landscape." —Issues in Science and Technology, 2010
Attracting talent
Singapore recognized early on that talent is the key to knowledge creation and value-generating R&D activities. With its small population, Singapore has had to devise a holistic talent strategy to attract and develop world-class scientists, both local and international, at all levels and in all areas of the R&D landscape.
Internationally renowned scientists who have moved to Singapore have helped to jump-start the country’s biomedical sciences efforts, providing leadership to the research institutes and mentoring young local scientists. They include Edward Holmes and Judith Swain from the University of California, San Diego; Edison Liu, Neal Copeland, and Nancy Jenkins from the National Cancer Institute; Jackie Ying from the Massachusetts Institute of Technology; and David Townsend, the co-inventor of the positron emission tomography/computed tomography scanner.
Singapore’s R&D efforts, especially in biomedical sciences, have attracted international attention. In a May 2007 Boston Globe article, Massachusetts Governor Deval Patrick, after introducing a $1 billion life sciences initiative, cited Singapore as one of the state’s major competitors, in large part because Singapore had developed coordinated strategies to attract researchers and companies. Martin Rees, president of the United Kingdom’s Royal Society, was quoted by the Press Association in December 2007 as comparing Biopolis favorably with the UK Centre for Medical Research and Innovation.
Source: Innovation Policy around the World: Singapore: Betting on Biomedical Sciences (http://issues.org/26-3/poh/)
Singapore recognized early on that talent is the key to knowledge creation and value-generating R&D activities. With its small population, Singapore has had to devise a holistic talent strategy to attract and develop world-class scientists, both local and international, at all levels and in all areas of the R&D landscape.
Internationally renowned scientists who have moved to Singapore have helped to jump-start the country’s biomedical sciences efforts, providing leadership to the research institutes and mentoring young local scientists. They include Edward Holmes and Judith Swain from the University of California, San Diego; Edison Liu, Neal Copeland, and Nancy Jenkins from the National Cancer Institute; Jackie Ying from the Massachusetts Institute of Technology; and David Townsend, the co-inventor of the positron emission tomography/computed tomography scanner.
Singapore’s R&D efforts, especially in biomedical sciences, have attracted international attention. In a May 2007 Boston Globe article, Massachusetts Governor Deval Patrick, after introducing a $1 billion life sciences initiative, cited Singapore as one of the state’s major competitors, in large part because Singapore had developed coordinated strategies to attract researchers and companies. Martin Rees, president of the United Kingdom’s Royal Society, was quoted by the Press Association in December 2007 as comparing Biopolis favorably with the UK Centre for Medical Research and Innovation.
Source: Innovation Policy around the World: Singapore: Betting on Biomedical Sciences (http://issues.org/26-3/poh/)
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"A thriving science-based cluster must take basic research and transition it into commercial products and services. To do this requires funding, skilled labor, a legal frame- work that protects intellectual property (IP), and a diverse set of industries that includes both new innovative firms as well as established ones."
—Life Sciences Innovation as a Catalyst for Economic Development, Northeastern University
The Unique Growth Pattern of Regional Life Sciences Clusters
The most important lesson we derived from our inter- views, however, was the unique growth pattern of the life sciences cluster. The regional concentration of life- sciences companies happens in a very different manner than in other industries. In the case of traditional industrial sectors such as auto, aircraft engine, financial services and the like, a region becomes dominant in a particular cluster once a large anchor enterprise or a small number of them establish operations in that locale. Once the anchor enterprise is established, an array of smaller firms is attracted to that region to serve as part of the supply chain for the large anchor enterprise(s).
Once Detroit became home to Henry Ford’s car company and General Motors and Chrysler built huge auto assembly facilities in Michigan, hundreds of small parts plants, design studios, and small engineering facilities opened their doors nearby in order to easily serve the industry’s “Big Three.” The same is true of the aircraft engine industry in New England dominated by Pratt & Whitney in East Hartford, Connecticut,
and General Electric’s Aircraft Engine facility in Lynn-Everett, Massachusetts. These massive facilities attracted hundreds of aircraft engine parts suppliers
to New England, making the region one of the core jet-engine manufacturing centers in the United States. Essentially, the small rms in the industry are dependent on the large ones.
For the life sciences, the reverse is true. For companies that crucially depend on the development of break- through innovations and sophisticated medical devices, the large firms prosper by reason of being proximate to a panoply of small start-up rms. The reason for this is that despite their substantial research budgets, even the largest of the life sciences companies do not have the resources to generate more than a handful of break- through innovations in the biosciences, genomics, and other sophisticated fields. These large firms grow and prosper by carefully monitoring the scientific discoveries under way in university research laboratories and in the translational research carried out by small start-up rms. Those few start-ups that end up with potential blockbuster drugs or devices become prime targets for acquisition by the larger rms. Only a fraction of the long-term revenue generated by Big Pharma and the largest biotech and medical device companies has its origin in their own research labs. The majority comes from the absorption of successful smaller rms.
The secret to success in the acquisition process is being where the small firms are located. This permits the large firms to closely monitor the progress of smaller firms and buy the most promising ones before other Big Pharma or other competitors can make a bid. To use a metaphor from nature, the large, globally important life sciences firms want to feed in the waters where the minnows are swimming.
Pfizer, for one, has moved operations into Cambridge from other locations for this purpose. In 2010, it announced that Cambridge would become one of Pfizer’s worldwide research and development hubs, and it relocated approximately half of the current employees from its BioTherapeutics R&D organization to Kendall Square. A year later, P zer announced plans to move two existing research units, Cardiovascular Medicine (CVMed) and Neuroscience from Groton, Connecticut, to Cambridge, leasing 180,000 square feet of lab and of ce space from MIT to house these two research units.
In June 2011, Pfizer opened the Boston Centers for Therapeutic Innovation (CTI), an entrepreneurial network
of partnerships with leading academic medical centers. According to the company, “these partnerships reduce the time and cost of drug discovery and development by accessing leading translational researchers.” Boston is also the global headquarters for the CTI network, which has established partnerships in New York City and San Francisco. The richness of the Massachusetts life sciences ecosystem prompted P zer to expand still further in the Commonwealth, with the company’s newest building in Cambridge scheduled to be completed in 2013.
Source: Life Sciences Innovation as a Catalyst for Economic Development, Northeastern University
The most important lesson we derived from our inter- views, however, was the unique growth pattern of the life sciences cluster. The regional concentration of life- sciences companies happens in a very different manner than in other industries. In the case of traditional industrial sectors such as auto, aircraft engine, financial services and the like, a region becomes dominant in a particular cluster once a large anchor enterprise or a small number of them establish operations in that locale. Once the anchor enterprise is established, an array of smaller firms is attracted to that region to serve as part of the supply chain for the large anchor enterprise(s).
Once Detroit became home to Henry Ford’s car company and General Motors and Chrysler built huge auto assembly facilities in Michigan, hundreds of small parts plants, design studios, and small engineering facilities opened their doors nearby in order to easily serve the industry’s “Big Three.” The same is true of the aircraft engine industry in New England dominated by Pratt & Whitney in East Hartford, Connecticut,
and General Electric’s Aircraft Engine facility in Lynn-Everett, Massachusetts. These massive facilities attracted hundreds of aircraft engine parts suppliers
to New England, making the region one of the core jet-engine manufacturing centers in the United States. Essentially, the small rms in the industry are dependent on the large ones.
For the life sciences, the reverse is true. For companies that crucially depend on the development of break- through innovations and sophisticated medical devices, the large firms prosper by reason of being proximate to a panoply of small start-up rms. The reason for this is that despite their substantial research budgets, even the largest of the life sciences companies do not have the resources to generate more than a handful of break- through innovations in the biosciences, genomics, and other sophisticated fields. These large firms grow and prosper by carefully monitoring the scientific discoveries under way in university research laboratories and in the translational research carried out by small start-up rms. Those few start-ups that end up with potential blockbuster drugs or devices become prime targets for acquisition by the larger rms. Only a fraction of the long-term revenue generated by Big Pharma and the largest biotech and medical device companies has its origin in their own research labs. The majority comes from the absorption of successful smaller rms.
The secret to success in the acquisition process is being where the small firms are located. This permits the large firms to closely monitor the progress of smaller firms and buy the most promising ones before other Big Pharma or other competitors can make a bid. To use a metaphor from nature, the large, globally important life sciences firms want to feed in the waters where the minnows are swimming.
Pfizer, for one, has moved operations into Cambridge from other locations for this purpose. In 2010, it announced that Cambridge would become one of Pfizer’s worldwide research and development hubs, and it relocated approximately half of the current employees from its BioTherapeutics R&D organization to Kendall Square. A year later, P zer announced plans to move two existing research units, Cardiovascular Medicine (CVMed) and Neuroscience from Groton, Connecticut, to Cambridge, leasing 180,000 square feet of lab and of ce space from MIT to house these two research units.
In June 2011, Pfizer opened the Boston Centers for Therapeutic Innovation (CTI), an entrepreneurial network
of partnerships with leading academic medical centers. According to the company, “these partnerships reduce the time and cost of drug discovery and development by accessing leading translational researchers.” Boston is also the global headquarters for the CTI network, which has established partnerships in New York City and San Francisco. The richness of the Massachusetts life sciences ecosystem prompted P zer to expand still further in the Commonwealth, with the company’s newest building in Cambridge scheduled to be completed in 2013.
Source: Life Sciences Innovation as a Catalyst for Economic Development, Northeastern University
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Untitled Slide
The University of California announced a $250 million venture fund to invest in startups “emerging from the University of California system.” The fund will be focused on students, professors and alumni of the 10 UC schools, with a particular emphasis on startups in the life sciences, technology, energy, agriculture and materials sectors.
The University of California has been granted more patents than any other university in the world and has over 30 accelerators and incubators. More than 800 startups with UC patents have been founded since 1980.
Read more: http://techcrunch.com/2015/12/15/university-of-california-launches-250-mill...
The University of California has been granted more patents than any other university in the world and has over 30 accelerators and incubators. More than 800 startups with UC patents have been founded since 1980.
Read more: http://techcrunch.com/2015/12/15/university-of-california-launches-250-mill...
Objectives
- Strengthening human capital and promoting social diffusion of knowledge
- Export Colombian innovation (and clinical research services —a $64B industry)
- Help make Colombia the thrid most innovative country in Latin America by 2025
The Colombia Life Sciences Initiative has two high-level objectives:
1) Strengthening human capital and promoting social diffusion of knowledge. The initiative will strengthen Colombia’s capacity to: (i) increase the stock of advanced human capital and promote its insertion in research institutions and local companies; (ii) develop advanced competencies in life sciences innovation; and (iii) increase awareness of science, technology and innovation and social diffusion of knowledge.
2) Promoting pertinent research and stimulating innovation in the private health sector. This initiative will seek to (i) promote research in the health sector; and (ii) stimulate local innovation by providing incentives for foreign startups to conduct R&D in Colombia and work alongside with the local talent pool.
3) R&D includes clinical research in humans. Colombia offers a) competitive costs, b) fast regulatory INVIMA approval, and c) ample patient pool (50 million population with universal health care) for any life sciences company to conduct clinical research (trials) at the country's research centers. The global clinical trial service market will likely reach more than $64 B by 2020, up from $38.4 B at present, representing a CAGR of 9% between 2015 and 2020 (http://www.prnewswire.com/news-releases/new-trends-in-the-2015-global-clini...). Please read more here: http://goo.gl/OEVrZx
1) Strengthening human capital and promoting social diffusion of knowledge. The initiative will strengthen Colombia’s capacity to: (i) increase the stock of advanced human capital and promote its insertion in research institutions and local companies; (ii) develop advanced competencies in life sciences innovation; and (iii) increase awareness of science, technology and innovation and social diffusion of knowledge.
2) Promoting pertinent research and stimulating innovation in the private health sector. This initiative will seek to (i) promote research in the health sector; and (ii) stimulate local innovation by providing incentives for foreign startups to conduct R&D in Colombia and work alongside with the local talent pool.
3) R&D includes clinical research in humans. Colombia offers a) competitive costs, b) fast regulatory INVIMA approval, and c) ample patient pool (50 million population with universal health care) for any life sciences company to conduct clinical research (trials) at the country's research centers. The global clinical trial service market will likely reach more than $64 B by 2020, up from $38.4 B at present, representing a CAGR of 9% between 2015 and 2020 (http://www.prnewswire.com/news-releases/new-trends-in-the-2015-global-clini...). Please read more here: http://goo.gl/OEVrZx
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The Startup Wins
- Funding for R&D
- Tax incentives
- Cost-effective human research at over 120 ICH/GCP sites in Colombia
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Colombia Wins
- More patents
- More high-impact scientific & technical publications
- More local investigators and innovators (through Knowledge diffusion)
- More innovative companies
- Higher percentage of Colombians knowledgeable about ST&I
Our Capabilities
- Alliance with FIU: Access to human capital, a bioengineering lab and 28 patents that can be potentialized in Colombia
- 5+ years of experience aiding US life sciences startups conduct R&D/clinical research in humans in Colombia
- World-class contacts and knowledge of the life sciences innovation industry
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How?
Here are 5 ways we could get started
1. Grants
- For the development of a life sciences innovation
- Sufficient amount
- Fast and predictable process
- International industry-experienced advisory board
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3. Alliances
- Collaboration with researchers and innovators (e.g. Mt. Sinai Hospital, Florida International University, New York Stem Cell Foundation, etc.)
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4. Life Sciences Innovation Fellowship
- In alliance with Florida International University
- Specially designed for the advancement of life sciences innovation
- Aimed to close the innovation management gap between USA and Colombia
BIODESIGN INNOVATION FELLOWSHIP
WHAT: The Medical Innovation Fellowship teaches a proven, hands-on, project-based approach to identifying important unmet medical needs, developing innovative diagnostic, device, or other medical technology (medtech) interventions to address them, and preparing to bring those products into patient care through start-up, corporate, or other implementation channels.
WHY The fellowship is a launch pad for initiating, redirecting, or turbo-charging a career in medical technology. Graduates from the program apply their talents to:
-Catalyzing innovation inside major medtech corporations
-Building their own medtech start-up companies
-Teaching and/or leading translational research projects for world-class universities
-Driving innovation initiatives within academic or private medical centers
-Becoming specialists in design, investing, or other aspects of the medtech innovation ecosystem
WHO: Individuals with a background in medicine, biosciences, engineering, computer science, product design, or business are encouraged to apply. Masters, medical, or doctorate degrees preferred. Candidate will be selected based on their experience, as well as their potential to become leaders in the medtech field.
WHAT: The Medical Innovation Fellowship teaches a proven, hands-on, project-based approach to identifying important unmet medical needs, developing innovative diagnostic, device, or other medical technology (medtech) interventions to address them, and preparing to bring those products into patient care through start-up, corporate, or other implementation channels.
WHY The fellowship is a launch pad for initiating, redirecting, or turbo-charging a career in medical technology. Graduates from the program apply their talents to:
-Catalyzing innovation inside major medtech corporations
-Building their own medtech start-up companies
-Teaching and/or leading translational research projects for world-class universities
-Driving innovation initiatives within academic or private medical centers
-Becoming specialists in design, investing, or other aspects of the medtech innovation ecosystem
WHO: Individuals with a background in medicine, biosciences, engineering, computer science, product design, or business are encouraged to apply. Masters, medical, or doctorate degrees preferred. Candidate will be selected based on their experience, as well as their potential to become leaders in the medtech field.
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5. Startup Accelerator
- Pre-selection of life sciences ideas for new products
- 3-month program with seed funding
- Improves chances of venture capital funding
- Community-based Mentorship from other entrepreneurs, investors, proven CEOs.
What is a Startup Incubator?
An incubator is physically locating your business in one central work space with many other startup companies. In many cases, the startups in these incubators can all be venture funded by the same investor group. You can stay in the space as long as you need to, or until your business has grown to the scale it needs to relocate to its own space. The mentorship is typically provided by proven entrepreneurial investors, and by shared learnings of your startup CEO peers. Examples include Lightbank and Sandbox Industries in Chicago.
What is a Startup Accelerator?
A startup accelerator is very similar, but has some distinct differences. Your time in the space is typically limited to a 3-4 month period, basically intended to jump start your business and then kick you out of the nest. The cash investment into your business from the accelerator itself is very minimal (e.g., $20,000), but your time in the accelerator should largely improve your chances of raising venture capital from a third party entity on the back end, after you graduate from the program. Mentorship could be coming from 100 entrepreneurs that are affiliated with the accelerator (many of which are proven CEOs, or investors looking for their next opportunity or simply helping the local startup community). Examples include Tech Stars and Y Combinator.
An incubator is physically locating your business in one central work space with many other startup companies. In many cases, the startups in these incubators can all be venture funded by the same investor group. You can stay in the space as long as you need to, or until your business has grown to the scale it needs to relocate to its own space. The mentorship is typically provided by proven entrepreneurial investors, and by shared learnings of your startup CEO peers. Examples include Lightbank and Sandbox Industries in Chicago.
What is a Startup Accelerator?
A startup accelerator is very similar, but has some distinct differences. Your time in the space is typically limited to a 3-4 month period, basically intended to jump start your business and then kick you out of the nest. The cash investment into your business from the accelerator itself is very minimal (e.g., $20,000), but your time in the accelerator should largely improve your chances of raising venture capital from a third party entity on the back end, after you graduate from the program. Mentorship could be coming from 100 entrepreneurs that are affiliated with the accelerator (many of which are proven CEOs, or investors looking for their next opportunity or simply helping the local startup community). Examples include Tech Stars and Y Combinator.
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Together we can transform Colombia into Latin America's life sciences innovation star
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