1. Akron Biomedical Corridor
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4. Ohio Market Sectors
Agricultural Research, Testing, &
Feedstock & Chemicals Drugs & Medical Devices Hospitals Medical Laboratories
Pharmaceuticals & Equipment
 Agricultural  Biological
processing  Laboratory  Specialty
 Medicinal apparatus & research
hospitals
 Basic organic & furniture  Commercial
chemicals botanicals  University medical
 Surgical, medical
 Ethyl alcohol  Pharma- medical, dental, research
mfg. research
ceutical ophthalmic hospitals  Testing
 Organic fiber preparation & analytical laboratories
mfg. s instruments &  Clinical
equipment research  Medical
 Fertilizers  Diagnostic institutions laboratories
substances  Irradiation &
 Pesticides and apparatus &
other  Biological diagnostic
electromedical imaging
agricultural products
chemicals equipment centers
Product-Oriented Service -Oriented
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5. There are approx.50 orthopedic companies in NEO;
Other global players are within 3-4 hours drive.
* Total Ohio bioscience establishments are 1141 (March 1, 2009)
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7. Ohio By-The-Numbers, Then
& Now
Indicator Then Now Growth
Bioscience Companies 170 (1991) 1,318 (2010) 7.75x
Company Locations 1,302 (2000) 1,743 (2011) 1.34x
Bioscience Employees 52,062 (2000) 60,636 (2011) 1.16x
79 (2010)
Company Starts per Year 46 (2000) 1.7x
68/yr (AVG 2000-2010)
Company Expansions 16 (2005) 56 (2011) 3.5x
National Institutes of Health (NIH) $470 M (2005) $711 M (2011) 1.5x
Small Business Association (SBIR/STTR) $8 M (2000) $24.5 M (2010) 3.1x
National Science Foundation (NSF BIO) $9.3 M (2000) $14.8 M (2011) 1.6x
Private Capital Raised (excluding acquisitions, IPO) $14 M (2001) $217 M (2011) 15.5x
Companies Receiving Private Capital (including acquisitions, IPO) 12 (2004) 102 (2011) 8.5x
Ohio Based Bioscience Capital Sources 4 (1991) 91 (2012) 7.6x
BioOhio Membership 52 (1991) 420 (2012) 4.9x
Bioscience Related Patents 499 (2004) 685 (2011) 1.4x
NIH, SBIR/STTR, NSF awards included based on relevance to bioscience and life-science fields, non-bio related
awards are excluded. Dollar figures are historical, not adjusted for inflation. Sources include research conducted by
BioOhio and its partners. Data or specific sources available upon request. Table updated July 2012.
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8. Ohio Third Frontier Program
10 year, $1.6 billion, 60% funding into Biosciences
Commercialization Framework
Programmatic Focus
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9. Third Frontier Project
Ohio’s 10-year, $1.6 billion Third Frontier Project launched in February 2002. This project is the state’s largest ever
commitment to expanding high-tech research capabilities and promoting innovation and company formation to
create high-paying jobs.
In May 2010, Ohioans voted to extend the Third Frontier Project with an additional $700 million over four years
starting in 2012.
Since 2002 over 100 diverse bioscience-related projects have been funded. In 2011, 28 new bioscience projects
were funded by the Third Frontier, totaling over $40 million and matched by more than $42 million in private funding.
Ohio Third Frontier Bioscience Awards by Year
Year Number of Awards Award Matching
2002 10 $35.84 $67.25
For more information and
2003 8 $48.48 $100.58
2004 5 $45.65 $76.06
metrics on the Ohio Third
2005 7 $75.35 $112.45 Frontier Project, visit:
2006 10 $154.73 $273.80
2007 8 $135.24 $92.16
2008 18 $98.30 $105.45 www.thirdfrontier.com
2009 9 $39.68 $46.00
2010 27 $55.63 $83.74
2011 28 40.94 $42.31
Total 130 $729.84 $999.82
* This table includes awards from multiple OTF programs, including the OTF Biomedical and
OTF Medical Imaging programs.
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10. 25. Foundation Medical Partners 50. Scius (Spire Capital)
1. Adena Ventures 26. Frantz Medical Ventures 51. Soin International
2. Akron ArchAngels Network 27. Glengary Ventures 52. RMS Investments
3. Alpha Capital Partners 28. GLIDE Fund 53. Rocket Ventures
4. Arboretum Ventures 29. iNetwork BioOpportunity 54. Southern Ohio Creates Capital
5. Athenian Ventures 30. Innovation Fund of LCCC 55. Summit Health Ventures
6. Battelle Ventures 31. Isabella Capital 56. Sycamore Partners
7. Blue Chip Venture Company 32. JumpStart 57. Talisman Capital
8. Blue Point Capital 33. Kadima Partners 58. TechColumbus TechGenesis
9. Bridge Investment Fund 34. Miami Valley Ventures 59. TechColumbus RCF
10. Case Technology Ventures 35. Morgenthaler Ventures 60. Teton Capital
11. Charter Life Sciences 36. Mutual Capital 61. Triathlon Medical Ventures
12. Chrysalis Ventures 37. NCIC Capital
13. CID Equity Partners 38. NCT Ventures
14. Cincinnati Children's Tomorrow Fund 39. North Coast Angels
Ohio Health Care
Venture
15. CincyTech Ventures 40. Oakwood Medical
16. Cleveland Clinic Innovations 41. Ohio Tech Angels I, II & III
17. Core Network 42. Primus Capital
Funds…More
than 100 have
18. Draper Triangle Ventures 43. Queen City Angels
19. Early Stage Partners 44. Radius Ventures
invested into
20. Edgewater Capital 45. Redwood Holdings
21. Entrepreneurs “E” Fund 46. Reservoir Ventures
22. Everett Partners 47. River Cities Capital Funds
Ohio bioscience
companies
23. Fletecher Spaght 48. Riverside Capital
24. Fort Washington Capital 49. Rivervest Ventures
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12. Average Annual Percentage Change in Employment, Establishments,
Payroll & Average Wages for the Northeast Region
Northeast Ohio
In 2011, the region accounted for 35% of
the total bioscience employment (21,029),
37% of the total bioscience payroll ($1.7
billion), and 42% of the total number of
bioscience locations (729). From 2000 to
2011, the northeast region consistently
reported the highest bioscience
employment, payroll, and number of
locations of any Ohio region.
Employment, Payroll, Average Wages, and Locations, Northeast Region, 2011
Subsector Employment Payroll ($) Average Wages ($) Locations
Agricultural Biotechnology 3,812 $575,893,356 $151,074 58
Medical & Testing Laboratories 3,301 $162,293,524 $49,165 238
Medical Device & Equipment 9,500 $594,038,200 $62,530 293
Pharmaceuticals & Therapeutics 2,576 $226,318,095 $87,856 30
Research & Development 1,840 $142,537,048 $77,466 110
Total 21,029 $1,701,080,223 $80,892 729
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13. Northeast Ohio
Economic Impact of Bioscience, 2010
Impact Employment Output Value Added Labor Income
Direct 20,719 $11,438.61 $1,464.24 $413.31
Indirect 29,580 $4,989.48 $2,573.60 $1,612.38
Induced 15,994 $1,768.81 $1,070.13 $595.38
Total 66,293 $18,196.90 $5,107.97 $2,621.08
Output, Value Added, and Labor Income are in millions
Economic Impact of Bioscience by Subsector, 2010
Subsector Employment Output Value Added Labor Income Tax
Agricultural Biotechnology 23,628 $9,016.24 $2,035.63 $1,071.77 $467.35
Medical & Testing Laboratories 5753 $657.25 $227.15 $133.69 $45.96
Medical Device & Equipment 18559 $3,971.75 $1,336.17 $577.21 $241.93
Pharmaceuticals & Therapeutics 15204 $4,149.92 $1,379.53 $745.62 $279.86
Research & Development 3149 $401.75 $129.49 $92.78 $28.31
Total 66,293 $18,196.90 $5,107.97 $2,621.08 $1,063.42
Output, Value Added, Labor Income, and Tax are in millions
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14. 3 cities in the top 40 Biotech locations in USA
#4 in biotechnology
industry strength in
2008
State City Rank
OH Cleveland-Akron 20
Columbus 22
Cincinnati 28
All three cities rank higher than the 100
city average in Research grant awards
in Bio- Sciences
$630 Million in NIH Awards in 2008!
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15. Akron is the place to be for
Life Science Companies
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16. The Akron Biomedical Corridor
• Established by the Mayor in July 2006 following a business mission to Israel
• Akron is well positioned to develop a world class biomedical innovation
district given its research, healthcare and community assets.
• 500+ acre area which arcs around downtown Akron
• Links
– Three world-class hospitals
• Summa Health System
• Akron General Medical Center More beds than the
• Akron Children’s Hospital Clev. Clinic or UH
– The Austen Bioinnovation Institute in Akron (ABIA)
• Center for Biomaterials and Medicine
• Medical Device Development Center
• Center for Simulation and Integrated Healthcare Education
• Center for Clinical Trials and Product Development
• Center for Community Health Improvement
– The University of Akron
• Top Polymers and Biomaterials programs
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17. The Akron Biomedical Corridor(Cont.)
• Effective collaboration of 3 health systems, the U of Akron,
ABIA, NEOMED, Summit County, the Chamber, private
businesses and not for profit organizations( Knight
Foundation, UPA)
• Provides strategic geographic location for biomedical
technologies, products, services, R&D, business
development as well as clinical trials and test marketing
• The State designation of Akron as an Ohio Hub of
Innovations and Opportunity for Biomaterials
Commercialization offers the potential for greater
recognition and attraction power
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18. Akron Biomaterials
Commercialization Hub
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19. Vision and Mission
Vision
Become a globally recognized leader in commercialization
of innovative biomedical technologies, products and
services resulting in improved patient care, job creation,
wealth creation and redevelopment of the City’s urban core.
Mission
Leverage Greater Akron healthcare and community
strengths to attract , support and grow biomedical
technologies and businesses
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20. Akron’s Biomedical Assets
 Three nationally ranked healthcare systems (2 adult; 1 children)
 Over 20,000 physicians, specialists and staff
 Nearly 1300 beds
 Over 1.5 M annual outpatient visits
 Over 65,000 patient admissions
 Outstanding research and medical institutions
 The University of Akron with top national polymer college with outstanding
materials and biopolymers science and technology
 NEOMED medical school with strong research in skeletal biology
 ABIA (Austen Bioinnovation Institute in Akron)
 Numerous innovative companies and advanced research
institutions with following areas of focus:
 Orthopedics; Advanced burn, wound care and tissue engineering
 Chronic diseases; Imaging and diagnostics
 Pediatrics; Skin hygiene, anti microbial formulations and delivery devices
 Supply chain support
 Northeastern Ohio Consortium for Wound Healing Research and Education
(Heal Ohio™ Collaborative)
 Ohio and the region are home to the highest concentration of health care
VC firms between the coasts, top 5 in the country.
 Increased activity of local investment groups (GAIP, Everett Partners,
ArchAngels, et al)
 Akron BioInvestments Funds
 Strong public-private partnerships (stability and continuity of leadership)
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21. Akron Global Business Accelerator
Proven Economic Results in the center
NEOinc Tenants (FY08-11)
• $203 Million—Total Sales Revenue
• $63 Million—Total Investment
• 382 Jobs Created
• $59 Million—Total Payroll
• 21 Patents Issued
• 90:1 Leverage
*(Sales Revenue + Investment)/Edison Funding
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22. Akron’s Competitive Advantage
…. Translates into your “benevants”
• The Akron community has a proven history of
innovation and transformation
• Our community it ―tight‖
• Our community is the portal
• You are at the ―head of the line‖ to all that the
region offers
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23. THE BRIDGES WE ARE CREATING
The BioFinland Bridge
The Chemnitz Bridge
The Israeli Targetech Bridge
The LeMans Bridge
Others under development
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24. Shared Values
• Flat world- never too early for international
cooperation
• BioScience/BioAgricultural/Cleantech sectors key
to a healthy society
• Power of ―team approach‖ … a people to people
business based on mutual trust with ―boots on the
ground‖
• International collaboration is not new for Ohio
• Leveraging existing networks is beneficial to both
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25. Why are we building bridges?
• Create a two-way informational networking infrastructure to
facilitate cooperation and business-economic development
• Increase basic science, R&D and clinical collaborations
between Ohio and institutions, researchers and companies
globally
• Advance work force development, education and training
through exchange programs, professional delegations and
conferences
• Develop an international bridge fund to help early stage
companies ready to expand outside of their existing market
• Reduce risk
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26. KEY SUCCESS
CHARACTERISTICS
• IDENTIFY INTERNATIONAL INNOVATION CENTERS THAT
MATCH UP WITH AKRON STRATEGY AND ASSETS
• AREAS THAT ARE HUNGRY FOR CHANGE
• AREAS WILLING TO TAKE A RISK/CAN DO ATTITUDE
• AREAS WITH LIMITED BUREAUCRATIC BARRIERS
• AREAS WILLING TO INVEST RESOURCES
• AREAS THAT HAVE BUSINESS DEVELOPMENT ASSISTANCE
STRUCTURES AND NETWORKS IN PLACE
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27. Key Success Factors &
Lessons Learned
• Define & clarify universal needs
• Take the time to build a strong
team
• Be sure actions are two way
• Soft landing zones should be ―sticky‖
• Public-private partnerships needed
• Consistency and stability in leadership
• ―Boots on the ground‖ make the difference
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28. Flow Diagram
Bio-Finland Technology Bridge
R&D
-University R&D
-Hospital Networking -University
-Labs -Hospital
Bridge -Labs
Bus. Dev. Bus. Dev.
-Company Qualified R&D Qualified
HBSP AGBA -Company
-Consultant Early Stage Early Stage
Company Radvisor BD REA Inc Company -Consultant
$$ $$ $$
-Public -Public
-Private -Private
Soft Landing Zone Soft Landing Zone
(Defined by Agreements) (Defined by Agreements)
Stakeholders
City/State Economic Development- fund start up and operations
Companies- fund incentive (transaction) based aspects with fees & success sharing
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29. Akron and Helsinki are “soft landing zones” and Portal Cities to larger markets
Akron Helsinki
Soft Landing Zone
Biomedical Corridor Soft Landing Zone
Akron Global Business Accelerator Helsinki Business & Science Park
Akron Chamber Viikki Food Center
Akron General Culminatum
Summa Ministry of Employment & Technology
Akron Children’s Greater Helsinki Promotion
NEOUCOM VTT
U of Akron Biomedicum 1,2,3
Kent State University of Helsinki
ABIA Tekes
ODOD Sittra
ADC Veraventure
Angel networks Inventi
Others Others
Ohio and North Finland and
America EU
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30. AKRON’S FUTURE
• TO CONTINUE OUR LEGACY AS A CITY THAT REINVENTS
ITSELF
• TO ACCELERATE THE TRANSITION TO THE KNOWLEDGE
ECONOMY
• TO TAKE ADVANTAGE OF ITS FOUNDATION CLUSTERS
BY FOCUSING ON BIOMATERIALS,ORTHOPAEDICS,
WOUND CARE AND BIOMEDICAL DEVICES
• TO CONTINUE TO BE A PLAYER IN THE WORLD
ECONOMY
• TO ATTRACT WORLD-CLASS TECHNOLOGIES AND
TALENT
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31. What Can We Do To Help?
Akron Global Business City of Akron
Accelerator Robert Y. Bowman
526 South Main Street Deputy Mayor, Economic Development
Akron, Ohio 44311 330-375-2133
Robert E. Anthony Sam DeShazior
PH: 330-571-0574 Deputy Planning Director
ranth44341@aol.com SDeShazior@AkronOhio.gov
www.akronbiomedicalcorridor.com The Akron BioMedical Corridor
www.akronaccelerator.com Dr. Zev Gurion
www.ci.akron.oh.us Executive Director
330-258-0120
zgurion@akronbiomedicalcorridor.com
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