Indianas Life Science Industry

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Indianas Life Science Industry

• A Strategic Approach

Jon Speer Managing Partner jspeer_at_creoquality.co
m 765 346 3987 Scott Durlacher Managing
Partner sdurlacher_at_creoquality.com 812 345
2932 http//www.creoquality.com
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Who is Creo Quality?

• To organizations wishing to pursue life science
  opportunities, Creo Quality provides strategic
  solutions in a way that leverages existing
  experience, relationships and networks in the
  life sciences industry.

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Manufacturing in Indiana

• Manufacturing in Indiana did very well from 2001
  to 2006 In a declining sector, we excelled.
  (Indiana economist Morton Marcus)
• Decreasing margins in some sectors due to rising
  costs of inputs, a shrinking customer base, high
  labor costs, and import competition
• For every job lost at the big auto makers, 4x as
  many jobs are lost at auto-parts makers
• One new manufacturing job can result in up to 3.6
  additional jobs in a region

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Indianas Life Science Movement

• Primary Mission Job Growth through Economic
  Development
• Primary Focus Early Stage, Innovative Companies
  and Attracting Major Life Science Companies to
  Indiana

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Is Life Science the Answer?

• Indiana a leader in number and concentration of
  life sciences related jobs
• Expected to grow 10-20 faster than employment
  generally
• The Indiana Life Sciences Initiative goal of
  enabling Indiana to build on its traditional
  manufacturing economic base
• Availability of grants, tax incentives, and
  special financing for companies

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Current Challenges

• Fragmented due to lack of collaboration
• Employers in medical manufacturing face workforce
  gaps
• Little to no focus on existing manufacturing
  capabilities and service providers

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Making the Transition A Case Study

• Autocam (Kentwood, MI)
• Founded in 1988
• Supplier of precision-machined components
• Utilizes Toyota Production System
• Primary Industry Automotive
• Established Autocam Medical to focus on medical
  device products (implants, instruments, etc.)
• Incorporated existing technology and capability

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Life Science Transition Strategy

• Strategy versus Tactics
• Strategy a careful plan or method the art of
  employing plans toward a goal
• Tactics the art or skill of employing available
  means to accomplish an end the set of actions
  taken to fulfill a strategy
• Strategy focuses on the entire forest whereas
  tactics focus on individual trees

Strategy without tactics is the slowest route to
victory. Tactics without strategy is the noise
before defeat. - Sun Tzu (Chinese General,
circa 500 BC)
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A Holistic Approach

• Feasibility Analysis and due diligence to
  evaluate new opportunities
• Situational Analysis to identify current
  situation
• Market Analysis to identify and evaluate market,
  competitors, risks, etc.
• Strategic Planning and business plan development
• Organizational Development including recruiting,
  screening, and training
• Program Management to bring visibility to all
  projects within an organization and the effect on
  organizational resources

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Summary

• Indianas Life Science Movement is here
• Major opportunities for manufacturing, component,
  and service providers to meet growing life
  science needs
• Adopt a strategic approach before jumping in

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Acknowledgements

• At diedrichHARMON, we strategize, create and
  implement effective solutions that build
  business. The goal? To provide integrated,
  cost-effective solutions that deliver aesthetic
  AND total business impact with flare.
• diedrichHARMON is an advertising agency
  providing strategy planning and guidance, brand
  development and management, and strategic design
  and execution. We have worked with numerous
  lifescience companies, including start-ups,
  diagnostic and pharmaceutical manufacturers, as
  well as several hospitals.
• Our core areas of expertise include strategic
  and brand planning, integrated campaigns,
  multimedia and collateral.
• diedrichHARMON a creative catalyst for
  strategic solutions

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Links

• http//www.biocrossroads.com/
• http//www.indianabionetwork.org/
• http//www.kelley.iu.edu/lifesc/
• http//www.ihif.org/
• http//www.imdmc.org/
• http//www.indianaventurecenter.org/
• http//www.kelley.iu.edu/lifesc/
• http//www.purdueresearchpark.com/
• http//www.iuetc.org/
• http//www.21fund.org/
• http//www.in.gov/iedc/

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Sources

• The Epoch Times - America's Great Lakes Region
  Crippled by Manufacturing Job Losses
  (13-Aug-2006)
• The Wall Street Journal - Battered Auto-Parts
  Makers Could Face More Pain (13-Aug-2007)
• Indianapolis Private Industry Council - Growth
  and Change in Advanced Manufacturing in Central
  Indiana (28-Feb-2006)
• The Indiana Life Sciences Initiative Report
  (18-Oct-2006)
• 2006 study by Battelle Memorial Institute
• http//www.autocam.com/
• http//www.autocam-medical.com/about.php