Five Year Strategic Plan - BioAlabama

Updated on 3/10/11

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BIO AlabamaStrategic Plan 2015

Looking Into Our Future

Submitted by

BAA Executive TeamMay 24th, 2011

Updated on 3/10/11

BAA Strategic Plan 2015

Vision

Establish a credible, prominent and sustainable biotechnology industry in Alabama with the capacity to transition novel products and technologies from the bench to commercialization.

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Updated on 3/10/11


Mission

The mission of BAA is to promote biotechnology innovation by creating a favorable scientific, business and legislative environment that will facilitate the growth of emerging & existing companies while attracting new biotechnology opportunities to Alabama and to increase public awareness regarding the potential impact on quality-of-life and the state’s economy.

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Updated on 3/10/11


BAA Strategic Goals – 5-year plan designed to engage Alabama & provide a context for strategic decision making to better serve Alabama’s growing biotechnology industry

1. Drive the innovative science of biotechnology in Alabama

2. Create a business climate that facilitates the commercialization of innovative science, better supports existing companies and attracts new organizations to the state

3. Cultivate relationships with key members of government while developing and advocating policies & actions that will promote biotechnology in Alabama

4. Enhance public awareness of the state’s biotechnology industry and its potential impact on quality-of-life and Alabama’s economy

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Initiative Leaders• Strategic Goal #1 – Drive Innovative Science

• Dan Daly, Ph.D.• Director, Alabama Innovation & Mentoring

Entrepreneur Center (AIME), The University of Alabama

• Strategic Goal #2 – Create a Biotechnology Business Climate• James Childs

• Partner, Bradley Arant Boult Cummings, LLP• Strategic Goal #3 – Promoting Relationships with Key Government

Officials• Carter Wells

• Director of External Affairs, HudsonAlpha• Strategic Goal – Increase Visibility for Alabama Biotechnology

• Alane Barnes • Vice President, General Counsel & Corporate Secretary,

Biocryst Pharmaceuticals

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Strategy #1 – Drive biotechnology research &

innovation in Alabama

• Tactics:• Promote continued innovation & collaboration with BAA hosted

networking events (e.g. BioMixers, workshops etc.)• Capitalize on dynamic research environment

• UAB, HudsonAlpha, U of A, Auburn, U of South Alabama, U of A at Huntsville

• Create forum for annual Alabama partnering meeting (State version of BIO)

• Potentially part of Annual Meeting Activities• Form state-wide student-focused scientific organization –

cultivate next-generation innovators• Provide mentorship and foster students interested in

pursuing careers in science• Annual science meeting to highlight student

research

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Strategy #1 -- Tactics cont.• Training & retaining highly-skilled biotechnology workforce

• Continued support for:

• UAB Biotechnology Master’s Program

• HudsonAlpha

• Educational Outreach

• BioTrain

• Create forums for continued education• Workshops on emerging technologies etc.

• Increase support & provide strong advocacy for technology transfer

• Increase Alabama university and industry collaboration

• Annual technology transfer forum to showcase promising IP

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Strategy #2 – Create a business climate that facilitates the commercialization of innovative science, better supports existing companies & attracts new organizations to the state• Tactics:

• Align strategically with ADO, EDPA, BVC, BBA and other business associations

• Create consistent message platform in regard to biotechnology

• Provide “Advising Hours” for biotechnology entrepreneurs

• Draw on existing executive assets with assigned advisors for:

• Business plan creation, IP guidance, public relations support & government affairs etc.

• Provide access to industry reports/databases etc.

• Shared resources

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Strategy #2 – Tactics cont.• Capital formation

• Facilitate access to new sources of funding including:

• Big Pharma

• Large biotech venture funds

• Federal government provided funds & tax credits• Propose and advocate state incentives for

biotechnology companies including:

• R&D tax credit

• Reward companies that perform R&D within the state & provide a special rate for emerging companies

• Also provide tax credit for R&D conducted at private & public universities to strengthen the relationships between universities & the business community

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Strategy #2 – Tactics cont.• Propose and advocate state incentives for biotechnology

companies cont.

• Capital gains exclusion on investments in biotechnology companies in Alabama

• Angel investor tax credit• SBIR/STTR Program

• Reimburse qualified biotechnology companies for a percentage of the costs of preparing & submitting Phase I proposals for SBIR & STTR grants

• Award matching funds to biotechnology companies that receive SBIR and STTR Phase I grants

• Promote company collaborations

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Strategy #2 – Tactics cont.

• Biotechnology company recruitment• Leverage national recognition and existing assets

at the Innovation Depot• National marketing campaigns

• In addition to and aligned with initiatives undertaken by the BBA

• Leverage Alabama’s national leadership position in clinical trial activities to:

• Help expand relationships globally and domestically with biotech and pharma companies conducting trials and facilitate commercialization that will help accelerate growth of the industry in Alabama

• Showcase Alabama’s capabilities in scientific research

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Strategy #3 – Cultivate relationships with key members of government while developing & advocating policies & actions that will promote biotechnology in Alabama• Tactics:

• Advise & inform key Alabama policy makers on advances in the state industry

• Establish forum for ongoing updates (e.g. direct mailings, email blasts etc.)

• Target key policy makers to serve as speakers at industry events

• Establish a robust Biotechnology Caucus• Advocate the need for a statewide leadership position in

the development & creation of policies, programs & legislation

• Ensure national representation at major industry events

• BIO, JP Morgan etc.

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Strategy #4 – Enhance public awareness of the state’s biotechnology industry and its potential impact on quality-of-life & Alabama’s economy

• Tactics:• Implement a coordinated & aggressive state-wide

branding & marketing strategy

• Year 1: “Why Biotechnology Innovation Matters”

• Year 2: “Alabama is BioReady!”

• Editorials targeted at the 5 major Alabama media markets

• Distribution of monthly press release to media outlets with company milestones highlighted

• Featuring quotes from industry thought-leaders

• Invite reporters to BAA industry events

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Strategy #4 – Tactics cont.

• Develop Alabama industry report publication• Distributed at annual meeting

• Drive visibility through social network opportunities

• Create community forums for biotechnology education

• Distribution of quarterly newsletters

• Create an annual BIO Investor Forum• Alabama Investor road show – every two years

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How do we make this work?• Appoint a BAA board member or other

industry leader as an external champion for each initiative

• Form appropriate committees

• Consistent & coordinated communications externally & internally

• Provide a forum for two-way communication & feedback to gauge level of stakeholder buy-in & feedback to strategic plan

• Highlight achievements early & frequently• Bi-Annual meetings to discuss progress of

plan – modify as needed

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Proposed Timeline16

2011 2012 2013 2014 2015Introduce 5 year plan Publish Alabama Biotech

Industry Report and DirectoryDevelop proposal for access to capital

Annual Meeting

Form student-focused science statewide organization

Initiate annual BAA Partnering Meeting

Advocate aggressively for state support

Launch “Why Biotech Matters” campaign

1st Annual student organization meeting

Establish Alabama Biotech Caucus

Establish shared resources database

Initiate Annual Tech Transfer forum

Initiate community forums for biotech education

Initiate social network campaign

Initiate “advisory hours” for entrepreneurs

Continue hosting BioMixers and workshops

Align strategically with ADO, EDPA, BBA

Establish relationships with key policy makers

Initiate “Alabama is BioReady” campaign

Updated on 3/10/11

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