Connections with Leading Thinkers. Frank Bobe of the Wyss Institute at Harvard University

Transcription

1 Connections with Leading Thinkers Frank Bobe of the Wyss Institute at Harvard University

2 Frank Bobe is Entrepreneur in Residence at the Wyss Institute at Harvard University. Frank was the Founding CEO of SpringLeaf Therapeutics, Inc., a medical device company spun-out of MIT in December 2008 and Seres Therapeutics, Inc., a Flagship Ventures microbiome company which launched its research and development program in June 2012 and went public in Prior to moving to Boston, Frank was President and CEO of Bioaxone Therapeutics, Inc., and worked earlier as Novartis Representative Director and Country Head in South Korea. Frank has a Ph.D. from the University of California at Davis and an MBA from INSEAD in France. Matthew Robinson and Niaz Souti from the Accenture Institute for High Performance (AIHP) spoke to Frank on the role of digital technology in enhancing the growth of industrial clusters. 2 Accenture Institute for High Performance Copyright 2015 Accenture. All rights reserved.

3 AIHP: What can you say about the culture of the cluster, and the way relationships work within it? Frank Bobe: The Boston Life Sciences ecosystem is complex, bringing together different disciplines and actors, including academic institutions, pharmaceutical and biotechnology companies, investors and business service industries. But note that any cluster is people-first: companies succeed and fail because of the people. The technology counts, but the people are the main thing. People interact with their local environment first, and companies start off as very local organizations. Investors are not just hands-on at first, but hands-in. The closeness associated with being there in person is important, and is part of the cluster s culture. AIHP: You mention that close proximity is important. What role is played by universities and the anchor institutions? How do they engage with the cluster? And do they collaborate with each other? Frank Bobe: Harvard and MIT have close relationships with the industry and are Companies succeed and fail because of the people. The technology counts, but the people are the main thing. pretty good at it. Harvard s Wyss Institute for Biologically Inspired Engineering, where I am based, is very important. We have team members from many disciplines, and they are working in interdisciplinary project teams, which is not always easy but so vital. Often, academic groups work on their own instead of across disciplines. It is difficult to step out of that and work across disciplines. One motivator for change is funding, and those funding the research are asking for closer collaboration between disciplines to reach better results. AIHP: When it comes to building and maintaining relationships within the cluster, be it with investors, other businesses, or anchor institutions, could digital play a role when direct contact is not possible? Frank Bobe: Certainly, a lot of communication nowadays is done using , phone calls, and video conferences. Digital communication tools are everywhere. Even text messages are used more and more. This is all very useful. But it can also lead to miscommunication. After all, some people are better at writing s than others. For example, in a second financing round, many people seek investors from wider afield away from that local network, and not necessarily from Boston or even the United States. Here, communication becomes more challenging. A US-based CEO or investor will use his or her US style of communication, but this may rub up the wrong way people of other cultures. In some smaller countries, such as Switzerland, there is often more international interaction and therefore sensitivity to cultural nuance. In any case, such differences are especially amplified when communication is not done face to face. To operate globally using digital tools, new skills are required. Digital tools allow for interaction with people farther afield, but can also result in miscommunication. 3 Accenture Institute for High Performance Copyright 2015 Accenture. All rights reserved.

4 To operate globally using digital tools, new skills are required. AIHP: With your international experience, could you say how clusters connect to each other, and what digital is doing to enable these connections? Frank Bobe: Clusters can seek exchange and connection to share expertise and resources, which is a great thing. You can only absorb the best ideas from other clusters by experiencing their different cultures which means immersing oneself in that environment. In European clusters, there is much more government involvement, whereas in the United States the private sector plays a larger role. Federal governments have realized the importance connecting with other large clusters across borders. For example, the German government is now launching an initiative to support the interaction between German and US-based clusters. AIHP: So given the importance that you ascribe to culture, it would seem physical proximity is vital. We hear about the rising rent prices in the area though, and the fact that businesses are being driven to the suburbs. Is the cluster becoming congested? Frank Bobe: People want to be in the cluster, in the center of the action. People did move out of Cambridge four or five years ago, but many returned soon after. People are willing to pay the high costs because this is where it all happens. Many of the younger scientists who live here don t even have a car they re not interested in moving away. They are the talent of the cluster and want to be based within it. There was a very large relatively new office building just outside Boston, which now lies empty. The cluster is like a pressure cooker with everything so close together. It is a challenge for smaller clusters to reach this sort of critical mass. AIHP: Thank you for your time, Frank you ve given us a lot to think about. This cluster is like a pressure cooker with everything so close together. It is a challenge for smaller clusters to reach this sort of critical mass. 4 Accenture Institute for High Performance Copyright 2015 Accenture. All rights reserved.

5 As part of the Accenture Institute for High Performance s mission to develop cutting-edge new ideas and insights, researchers often seek the views of academic leaders, business executives and industry analysts. The Connections with Leading Thinkers series captures some of those interviews, showcasing interactions and discussions with some of the world s leading experts. For further information please contact armen.ovanessoff@accenture.com e.plastino@accenture.com About Accenture Accenture is a leading global professional services company, providing a broad range of services and solutions in strategy, consulting, digital, technology and operations. Combining unmatched experience and specialized skills across more than 40 industries and all business functions underpinned by the world s largest delivery network Accenture works at the intersection of business and technology to help clients improve their performance and create sustainable value for their stakeholders. With more than 358,000 people serving clients in more than 120 countries, Accenture drives innovation to improve the way the world works and lives. About the Accenture Institute for High Performance The Accenture Institute for High Performance creates strategic insights into key management issues and macroeconomic and political trends through original research and analysis. Its management researchers combine world-class reputations with Accenture s extensive consulting, technology and outsourcing experience to conduct innovative research and analysis into how organizations become and remain high-performance businesses. Please visit us at Copyright 2015 Accenture All rights reserved. Accenture, its logo, and High Performance Delivered are trademarks of Accenture.