Ohio’s Rapid Growth in Medical Device Innovation

Medical Device & Diagnostic Industry (MD+DI), a monthly magazine written exclusively for original equipment manufacturers of medical devices and in vitro diagnostic products, recently recognized Ohio's global leadership in medical device innovation.

Ohio is home to more than 300 medical device companies -- and nearly 55% of the state’s 1,628 bioscience firms are medical device manufacturers, medical labs, or diagnostics imaging centers, according to data in nonprofit group BioOhio’s 2009 bioscience growth report. In 2008, these combined subsectors employed 24,665 people, reported MD+DI.

Medical devices represent just one sector of Ohio's leading bioscience and bioproducts industry -- which includes research, development and marketing of pharmaceuticals, diagnostics, bioinformatics, bioproduct materials, manufacturing, medical devices, medical equipment, services based on biotechnology, computer systems and software for managing healthcare and other health-related products.

Based on the color model established by European bioscience leaders, Ohio's strength in the Red (health), Green (agriculture) and White (industrial) bioscience industry sectors stimulates innovation, promotes cross-collaboration and provides cost-effective solutions to scientific challenges.

Click here to read the full story about Ohio's growing leadership in medical device innovation from MD+DI.

Ideal Environment for Business Startup Success

According to the National Business Incubation Association, business incubators generate up to 20 times more jobs than any other federally funded community infrastructure project – at a fraction of the cost per job.

Nearly 30 years ago, this insight inspired the creation of Ohio University’s Innovation Center. Since then, the first university-based incubator in the state of Ohio and only the 12th in the U.S. has nurtured more than 80 companies and created more than 1,000 jobs in Ohio’s Appalachian Region.

Focused on information technology, biosciences and alternative and sustainable energy, the Center offers a home – complete with offices, conference rooms, shared office equipment and advanced laboratory equipment that includes the only commercial wet labs in Southeast Ohio – where startup businesses in these industries can grow.

The Center’s location in Ohio’s Enterprise Appalachia Region allows resident entrepreneurs to take advantage of an ideal startup environment that provides all of the criteria for business success: access to supply chain and markets, access to business capital and support services, access to knowledge and labor and access to a balanced life.

I recently spoke with Jennifer Simon, director of the Innovation Center. She pointed out that the entrepreneurs in Athens and the surrounding region want to stay. The business-friendly environment, growth opportunities and talented workforce fuel the growth of these small businesses, but the welcoming community and balanced lifestyle make them want to remain in the area.

Click here to read the full Ohio University Innovation Center story.

Ohio Attracts Colorado Biomedical Company

Colorado biomedical company, Lanx Inc., has chosen Ohio as the location to launch its Lumbar Motion Monitor Commercialization project. The company, which chose Ohio over other Midwest states, said the state's biomedical industry and support from programs like Ohio Third Frontier were key to the decision.

"Ohio is an attractive location for the Lanx Diagnostic division because of its existing strengths in the biomedical industry and resources such as Ohio Third Frontier and TechColumbus," said Stuart Born, Director, Lanx Diagnostic. "These benefits coupled with the close proximity to our collaborators, allow us to further develop an important innovative new tool that will essentially help surgeons and other clinicians further optimize patient care."

According to the 2009 "Making an Impact" report conducted by SRI, Ohio Third Frontier's strategies for investing in Ohio's high-tech clusters contain all the elements associated with global best practices in technology cluster development, and indicate that these investments are already generating positive economic outcomes for Ohio's economy in terms of growth in technology sector employment, output and wages. Since its inception, the Ohio Third Frontier has created, capitalized or attracted more than 600 companies, has created nearly 55,000 direct and indirect jobs and helped create $6.6 billion in economic impact in Ohio, a 9:1 return on investment.

Click here to read more about why Lanx chose Ohio.

Bioscience Executive on Building a Successful Bio Business

Don Brown, CEO of Arteriocyte in Cleveland, Ohio has worked in the health care industry for more than 26 years. He understands the challenges and rewards that come with bringing a product to market and recognizes the extensive support a company in the bioscience industry needs to be successful.

Don credits Ohio Third Frontier with enabling Arteriocyte to grow from a start up to a commercial stage research and development organization. He spoke with me about the importance of having this type of state program; one that focuses on the three critical aspects of building a successful life science company: investing in research, growing talent and providing investment capital.

Click here to read my complete interview with Don.

Industry Expert’s Perspective on Ohio’s Bioscience Industry

Ohio is quickly becoming a leader in new economy industries, and there's no better example than what's happening in the bioscience industry. Ohio has emerged as best in the Midwest and No. 4 in the nation according to Business Facilities Magazine for its strengths in the bioscience industry, with more than 1,141 bio-related entities operating in the state in 2008. Each year, an average of 60 to 70 new firms pop up here, drawn by the state's business climate, entrepreneurial resources and strength in the bioscience industry.

According to BioOhio, a non-profit organization that helps develop and promote the industry, the overall bioscience community now accounts for nearly 1.4 million jobs in Ohio - about one in every four. hiVelocityMedia.com recently spoke with Tony Dennis, BioOhio's president and chief executive officer, to find out what's behind the growth in the bioscience industry.

Click here to read hiVelocityMedia.com’s interview with Tony Dennis about Ohio’s leadership in the bioscience industry.