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"What you’ve got is big for the community and big for Montana, but it also represents what we like about biotech in Montana," Schweitzer said. "You’re one of the wheels of the buggy and we need to keep you on. We’re not going to let you slip away."
In synchronizing their resources and priorities with local technology enterprises, they can form the interconnections that foster knowledge transform, collaboration, and support that cannot easily be replicated by other regions.
"Don’t ever assume there is a shortage of capital," Burrill said. "Capital is available for good ideas — your job is to find them."
Where VCs Fear To Tread : Angel investors are filling a critical gap by providing early backing for biotechs
While individuals have always played a key role in funding biotech startups, today’s angels represent a new breed — one that bears striking similarities to venture capitalists.
Spokane’s Gonzaga University may be most widely recognized for its nationally ranked men’s basketball team, but the private liberal arts school is aggressively positioning itself to be prominent in another field: Biotechnology research.
"Montana’s BioScience industry is steadily developing," said Montana’s Governor Brian Schweitzer.
In fact, there is increasing evidence that the biotech industry may converge with nonbiological technologies into a new and advanced industrial identity as science and business increase their creative collisions. No state or region looking toward their economic future will want to sit on the sidelines.
Venture capital will tell its story – A study questions whether policymakers understand the role the industry plays in medical breakthroughs.
Federal allocations to research and development are likely to be "on the chopping block" as Congress looks to trim spending, Heesen said.
"Without venture capital investment, there would be no innovation in biomedical technology," said David Goodman of the Weinberg Group and co-author of the report. "The research would die on the vine at universities and other research labs."
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