Biocommercialization: Providing Enabling Policy Environments rd Asian Biotechnology Conference Manila, The Philippines November, 00 Gurinder Shahi, MD, PhD, MPH Chairman and CEO, BioEnterprise Asia; Director, Email: gurinder.shahi@gmail.com, 00. All rights of reproduction and reuse reserved
Some Global Trends and Opportunities in BioBusiness Bio-investment around the world - in bio-related infrastructure, R&D and training Non-traditional sources of innovation - rise of China and India; Asia-Pacific, now increasingly Latin America, Eastern Europe/CIS and Mid-East/Africa Growing arbitrage opportunity - cost differentials in R&D / manufacturing / services; time-to-market considerations Responding to major global challenges as well as equity concerns growing need for bioenergy / biofeedstocks; those having the biggest problems (poverty / infectious disease / food shortages / environmental / ecological disasters) typically have least resources and access to knowledge/technology Can we build a truly global biotechnology industry? - competition or cooperation? opportunity to build coopetitive environment by facilitating linkages, technology partnering and transfer between and within regions/bioclusters Financing innovation and value creation - opportunity to build new business models to facilitate development, public health, promote public-private partnership, address trans-border concerns Bottomline: Time for enlightened self-interest, 00. All rights of reproduction and reuse reserved
BioBusiness Innovation Challenges Environment Heavy investment in the life sciences Growing scientific base Expanding portfolio of intellectual property Hurdles/Challenges Limited translation of academic research and technology development into commercial application Lack of strategic and business management expertise in life sciences Lack of smart money funding for concept development, technology validation and business case validation Opportunities and Needs Identifying and nurturing development of high potential know-how and technologies Providing commercial acumen and marketplace orientation Critical business and entrepreneurship development support Dedicated seed financial support for promising enterprises Establishing sustainable life science/biotech start-up companies, 00. All rights of reproduction and reuse reserved
Some Considerations: Asia and BioBusiness Asia is a late entrant in the BioBusiness revolution: USA late 70s/early 0s Canada early 0s Europe mid 0s Australia late 0s/early 000s Asia - 00/00 Latin America -? 007/ Starting late has its benefits: learn from mistakes of those who went before (shorter learning curves) scientific/knowledge/technology base more mature and better validated opportunity to partner and license pre-existing technologies to jumpstart innovation, 00. All rights of reproduction and reuse reserved
Some Summit Innovation and Value Creation Opportunities Healthcare/Biomedical Mainstreaming traditional medicines From generic proprietary formulations Nutraceuticals, cosmeceuticals Diagnostics infectious/tropical disease Medical informatics and Health-IT Wellness and disease management Contract research and contract services (including clinical trials, contract mfg, etc) Agri-Vet and Food Organic farming Plantation of high demand nutraceuticals, cosmeceuticals, biomaterials Transgenics BioPharming Diagnostics infectious disease Vaccines and therapeutics Environmental/Industrial Biomaterials and bioplastics Sustainable energy Biofeedstocks Pollution control and environmental clean-up technologies Waste management New industrial enzymes/applications Other Key Areas Bioinformatics/computational biology Outsource information management and services Molecular modeling and simulations Systems biology Life science education and human resource development, 00. All rights of reproduction and reuse reserved
Understanding the BioBusiness Innovation and Commercialization Pipeline responding to market realities Increasing Value Proposition Decreasing Execution Risk Focus on management and business development Focus on science and technology Concept Technology Validation Productization Commercial Product and Service Devt Business Case Validation Market Entry and Rapid Growth Research (new insights and understanding) Development (translation of insights to practical reality) Application (commercial and social application), 00. All rights of reproduction and reuse reserved
BioPartnering: Capturing the Value Proposition Work for win-win Researchers Encourage public-private partnership Industry Academic Entrepreneurs Regulatory Bodies Finance Development Agencies Bet on people Professional Services Legal /IPR, Media, Recruitment etc Make smart investments Source: Shahi, BioBusiness in Asia (Pearson Prentice Hall, 00)
Our Analysis: Successful BioBusiness Environments Critical Success Factors (given good infrastructure, facilities, policies, etc): Smart People Smart Ideas Smart Money (immaterial if public or private sector driven: Silicon Valley model driven by private money; European model driven by public money) Smart Alliances and Partnerships (throughout the world) Key Differentiator - The quality of money: Smart Money versus No Brainer Money. Note: Access to capital alone not sufficient!, 00. All rights of reproduction and reuse reserved
Some Public Policy Considerations: Creating Enabling Environments Infrastructure Development General Physical Scientific/Technical Regulatory and Cultural Environment Government Policies Human Resources Scientists/Technologists Managers of Science/Technology Financing Public Private, 00. All rights of reproduction and reuse reserved
Survey Results: Perceived Strengths and Capabilities in Biotech Innovation of Selected Asia-Pacific Economies Japan Australia Israel Singapore Korea Chinese Taipei New Zealand Hong Kong China India Malaysia Thailand Indonesia Philippines Infrastructure Dev t Physical Infrastructure 0 Scientific Infrastructure 7 0 Regulatory & Cultural Env t 7 0 Human Resource Dev t 0 Finance & Resource Mobilization Public Funding 7 0 Private Funding 7 Overall Ranking [Note: Survey was conducted by Asia-Pacific IMBN Secretariat from August-December. 0 leading experts from around the region were invited to share their perception of scientific development in the region. The results are based on inputs from of these experts. Australia (), Chinese Taipei (), Japan (), Korea (), Phlippines (), Singapore ()] Gov t Policy, 00. All rights of reproduction and reuse reserved 7 0
Recommendations: Making Things Happen Engage the interest and support of the best and the brightest in the region and internationally Invest in bioinnovation and bioentrepreneurship development International agencies and national governments can provide the framework, academic collaboration can support innovation, but private players (and, where appropriate, NGOs) are best placed to drive sustainable implementation and value creation facilitate B-to-B cooperation (across regions) where market forces apply incentivize alignment of economically rational behavior and social good through incentives where market forces do not traditionally apply Cross-training: ensuring that scientists understand what it takes to bring innovation from the bench to the marketplace ensuring that policy-makers understand the issues and concerns of scientists, entrepreneurs and technology enterprises building managers of science with a strong foundation in science and good understanding of marketplace realities and the translational process Making populations bio-literate: understanding ethical and social issues and considerations adult education in life sciences and biotechnology - as important as computer literacy? revamping our school curricula starting modern life science education early in schools, 00. All rights of reproduction and reuse reserved
Conclusions. We are fast approaching critical mass in BioBusiness value creation as innovative technologies mature and come to fruition.. BioBusiness success will come to those players who create a confluence of enlightened investment (smart money) in bioinnovation (smart ideas) and bioentrepreneurship (smart people) and who are well plugged in to working synergistically with key players around the world (smart alliances and partnerships).. There is clear opportunity and need to invest in building up the requisite skills, knowledge and competence to drive innovation and capture the value that the BioBusiness revolution will bring.. Asia is well placed to be a major player and partner in building global value in the BioBusiness arena., 00. All rights of reproduction and reuse reserved
About The Inter-disciplinary think-tank dedicated to: - Thought Leadership - Research and Policy Analysis - Professional Education and Training - Focus on training Managers of Science through our innovative Marshall Executive Program in BioBusiness: - Strategic Management of Innovation and New Product Development - Governance and Management of World-Class Bio Enterprises - Financial and Investment Planning in International BioBusiness - Market and Business Development in BioBusiness - Best Practice Management and BioEthics - Project and Program Management and Advisory/Consulting Services, 00. All rights of reproduction and reuse reserved