Gov. Jeb Bush urges venture capitalists follow Scripps to Florida saying he wants the products that result from new discoveries to remain in the state

Gov. Jeb Bush encouraged several dozen venture capitalists Friday to take advantage of Scripps Research Institute’s arrival in Florida, saying he wants the products that result from new discoveries to remain in the state.

Bush touted the deal that is bringing a branch of the San Diego-based biotech firm and said it — along with Florida’s universities and business climate — makes Florida an ideal place to invest.

BRENDAN FARRINGTON, Associated Press Writer

http://www.sfgate.com/cgi-bin/article.cgi?f=/news/archive/2004/04/16/financial1537EDT0091.DTL

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It’s not enough nor is it fair to our researchers in Montana to not develop the funding opportunities they need to take their developments to their full commercial potential. Tech Transfer opportunities must be supported with adequate funding opportunities which are sorely lacking in our state. what are your thoughts on how Montana can address this problem? -Russ

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One of his fears, he said, is that ideas would be generated in Florida, but the resulting products would be manufactured out of state. As one of the world’s largest, nonprofit biomedical research organizations, Scripps has become internationally recognized for research into immunology, biology, chemistry, neuroscience, autoimmune and cardiovascular diseases and synthetic vaccine development.

"We want these homegrown innovative ideas to be commercialized here," Bush said. "We need to make sure the venture capitalists come, just like the scientists are coming. That they come to live, they come to be part of this, they come to nurture the good ideas, they come to commercialize those good ideas."

The state is investing more than $300 million to help Scripps build a facility in Palm Beach County. Part of the reason for the expansion is Scripps has run out of room at its California center, where dozens of related business cluster around it. The Palm Beach facility will be surrounded by 1,000 acres of undeveloped land, Bush said.

"Over the next three years, the dreamers will come. The talented scientist, the innovators and entrepreneurs will be drawn to this," Bush said. "We ask you to join. If you’ve got dreams you want to pursue, I hope you pursue them here in Florida."

Florida is already seeing the potential of a similar effect here, said Scripps President Dr. Richard Lerner.

"Everywhere I go, people say ‘I get it. Florida is in play in life sciences. We better take a look,"’ Lerner said.