venture capital

  • Sam Patrick posted an article
    Harbor Entrepreneur Center gains new leader see more

    The Harbor Entrepreneur Center, a nonprofit focused on helping entrepreneurs through accelerator programs and coworking spaces, will have a new executive director on June 1.

    Daniel Stern, the former executive director of the Jewish Community Center and previous major gifts officer for the Lowcountry Food Bank, will assume the helm. John Osborne, the Harbor’s co-founder and current executive director, said recently he plans to step down to work fulltime at Good Growth Capital, a Charleston-based venture capital fund, and with Charleston Angel Partners, an area investment group. “The Harbor is heading into a phase of rapid growth and we are excited to have Daniel on board to lead our nonprofit,” said Osborne, who will sit on the board.

    SCBIO's Charleston-area office is graciously hosted at The Harbor Entrepreneur Center by the non-profit organization.

  • Sam Patrick posted an article
    U.S. bioscience industry has reached $2 trillion in annual economic impact while continuing to grow see more

    Boston, MA (June 5, 2018) –  A study released today at the BIO International Convention shows that the U.S. bioscience industry has reached $2 trillion in annual economic impact while maintaining accelerated venture capital investment and job growth numbers. Among U.S. technology sectors, the bioscience industry has held a leading position as an economic driver and job generator.

    The report, Investment, Innovation and Job Creation in a Growing U.S. Bioscience Industry 2018, finds U.S. bioscience firms directly employ 1.74 million people, a figure that includes more than 273,000 high-paying jobs created since 2001. The average annual wage for a U.S. bioscience worker reached $98,961 in 2016. These earnings are more than $45,000 greater, on average, than the overall U.S. private sector wage. The report further shows that since 2014, the bioscience industry has grown by 4.4 percent with four of its five major subsectors contributing to this overall job gain.

    For the first time, the biennial report includes a full assessment of the economic impact of the bioscience industry and finds its total economic impact on the U.S. economy, as measured by overall output, totaled $2 trillion in 2016. This impact is generated by the direct output of the bioscience industry combined with the indirect (supply chain) and induced (employee spending) impacts. The industry and its associated economic output support 8 million jobs throughout the entire U.S. economy through both indirect and induced effects.

    “This report highlights the enormous economic impact delivered by our industry. This strong performance is due to the vital and wide-ranging collaborations between industry partners, universities, and policymakers that provides a business climate that supports the development of innovative bioscience products and high paying jobs,” said Jim Greenwood, President and CEO of the Biotechnology Innovation Organization."

    The report also takes the pulse of the broader U.S. innovation ecosystem for bioscience companies and finds it advancing with positive results. The U.S. is experiencing strong gains in bioscience venture capital funding, growth in patents, a recent ramp-up in bioscience-related university R&D expenditures and increasing research funding from the National Institutes of Health (NIH).

    “The bioscience industry is vital to the U.S. not only as an innovation engine that is improving lives, but also as a major economic driver that is consistently generating high-quality jobs and significant economic output across the nation,” said Ryan Helwig, Principal and Project Director with TEConomy Partners.

    The state-by-state industry assessment is the eighth in a biennial series, developed in partnership by TEConomy and BIO, presenting data on national, state, and metropolitan area bioscience industry employment and recent trends.

    Additional highlights from the industry economic analysis include:

    • The industry is a major economic driver and is well distributed across U.S. states and cities:
      • 41 states experienced net job growth in the biosciences between 2014-2016
      • 38 states and Puerto Rico have an employment specialization in at least one bioscience subsector
      • 213 of 383 U.S. metropolitan areas have at least one bioscience specialization

    Highlights from the analysis of the innovation ecosystem for the bioscience industry include:

    • Strength in recent venture capital and patenting trends:
      • Venture capital investments have reached new highs. More than $66 billion in venture capital was invested in bioscience companies during the 2014 through 2017 period, including a new annual high in 2017 at $20 billion invested.
      • Innovation continues to drive the biosciences, since 2014 the U.S. has increased patent totals in bioscience-related technology classes by nearly 5 percent, or 1.6 percent per year, on average. 2017 had a total of nearly 27,000 patents awarded to U.S. inventors, another new high.
    • Growth for academic biosciences R&D in 2016
      • After several years of concerns raised about the declining and/or flat NIH research budgets and the subsequent effects on academic and other research, NIH funding is back on the rise. There have been budget increases sustained each of the last three years.
      • Across America’s colleges and universities, the pace of R&D spending in bioscience-related research areas has increased. Following a 1.5 percent decline in 2015, academic R&D expenditures in the biosciences increased 5.5 percent to $42 billion in 2016.

  • Sam Patrick posted an article
    South Carolina Innovators, Inventors convene at SEMDA conference to present to Venture Capitalists see more

    State’s Innovators, Inventors, convene at conference to present to Venture Capitalists

     

    GREENVILLE, SC – April 6, 2018 – The Southeastern Medical Device Association (SEMDA) -- a non-profit trade association driven to make the southeast a world-class region for medical technology, device, and diagnostic companies – brings its 2018 conference to South Carolina for the first time May 2-4, 2018, attracting hundreds of executives to Greenville to meet, negotiate, learn, network and grow the medical device industry in the Southeast.

    Focused on accelerating device development and helping organizations and individuals gain access to funding, education, and networking opportunities, the annual conference is a must-attend for medical device companies, inventors, physicians, investors, tech transfer offices, universities, and service providers interested in growing the medical device industry in North America, and even globally.

    As part of SEMDA 2018’s many activities, SCBIO and SCRA are collaborating to present PitchRounds 2018 – a highly targeted venue for both start-ups and “Seed” companies as well as later-stage (or Series A or later) organizations to present their ideas, innovations and products to panels of institutional investors, regulatory leaders, venture capital directors, IP experts and others in structured sessions. 

    Selected participants will receive individual feedback on their presentations and compete for $10,000 in top prize money for selected winners.  Participating presenters also receive two full conference registrations and access to meet with investors and partners at sessions and networking receptions.  Global law firm Eversheds Sutherland, one of the 50 largest law firms globally, is also a co-sponsor of PitchRounds.

    Applying to present is both free and simple, with full details available online at www.SEMDA.net/conference/pitchrounds or at www.SCBIO.org.  The deadline to complete the simple application to be considered is close of business April 13, 2018.

    SCBIO Vice President Erin Ford noted, “SCBIO and our co-sponsors are delighted to make PitchRounds a possibility for South Carolina’s emerging medtech companies to showcase their innovations and solutions, and to directly access investors and industry leaders to gain direct feedback on their innovations.”

    “While entries will be considered from across the entire Southeast and presentation spots are limited, we are confident that South Carolina will be well represented based on the robust pipeline of innovations the South Carolina life sciences community has been working on.  We encourage all early- and later-stage companies to enter the PitchRounds program and showcase the Palmetto State’s talents.”

    SCBIO is South Carolina’s investor-driven public/private economic development organization exclusively focused on building, advancing, and growing the life sciences industry in the state.  The industry has an $11.4 billion annual economic impact in the Palmetto State, with more than 400 firms and 15,000 professionals directly involved in the research, development and commercialization of innovative healthcare, medical device, industrial, environmental and agricultural biotech and products.  The state-wide nonprofit has offices in Greenville, Columbia, and Charleston, and represents companies in the advanced medicines, medical devices, equipment, diagnostics, IT, and healthcare outcome industries.

    SCBIO is the official state affiliate of BIO -- the world's largest trade association representing biotechnology organizations.  SCBIO members include academic institutions, biotech companies, med-tech companies, entrepreneurial organizations, service providers, thought leaders, economic development organizations and related groups whose members are leading the research and development of innovative healthcare, agricultural, industrial and environmental biotech and med-tech products that will make a difference across the Palmetto State, and around the world.