Live blogging Chamber’s Business Outlook 2007

Chamber's Annual Business Outlook ConferenceWhile the Birmingham Regional Chamber of Commerce’s Business Outlook Conference features several speakers are covering various topics, this posting focuses specifically on the technology related discussion. Dr. Sandy White of UAB Research Foundation covered the following:

  • Defining Biotechnology…
    • translational medicine
    • genetic engineering
    • cloning
    • bio-warfare
    • new vaccines
    • cancer drugs
    • better foods
    • new jobs
    • … all the above and thousands more
  • 1000’s of jobs in Birmingham already in Biotechnology fields
  • UAB Research Foundation…
    • a separate non-profit legal entity created in 1986 – it’s primary responsibilities are to assure the University is compliant with federal law and to manage all aspects of technology commercialization
    • Three critical elements for commercializing a discovery – technology, people, and capital
  • What’s going on in Birmingham…
    • Technology
      • $450M+ in external research
      • 100+ annual invention disclosures
      • Therapeutics, Devices, and Diagnostics
    • Resources
      • UAB Concept Fund
        • $1.5M+ translational investment fund
        • Philanthropic Birmingham native
        • Lasers, nanotechnology, and cancer treatment
        • Goal: 10-15 companies in 3 years
        • Other places in the country would love to have this fund
      • Birmingham Technology Fund
        • “Classic” IRR driven venture capital
        • Currently $22M
        • Source: HSF/UA System and public funds
        • Target: Early stage technology
      • Innovation Depot
        • “State of the Art” Business Incubator
        • 140,000 square feet and “wet labs”
        • Tremendous “piece of the puzzle”
        • Community support made it possible
    • Opportunity is Now!
      • Most expensive “pieces of the puzzle” are minimally in place
      • Knowledge based economy is key
      • Critical time to put all pieces into play
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