Education Will Drive Life Science Success
ROB DeWIT
President & CEO
Southwest Michigan Innovation Center
SPECIAL TO MIBIZ CRYSTAL BALL 2010
The life sciences play a key role in West Michigan's economy —past, present and future. Rob DeWit knows all about that. DeWit, president and CEO of the Southwest Michigan Innovation Center, a life sciences accelerator located in the Western Michigan University Business and Technology Research Park, has more than 25 years of experience in the industry, having worked in various roles at Upjohn/Pharmacia/Pfizer, as well as at Parke-Davis and Warner Lambert.
To get his take on what issues the industry could face in the upcoming year, MiBiz/LabWork Associate Editor Joe Boomgaard asked DeWit to participate in a Q&A.
What pending state or federal legislation could impact the industry in 2010?
DeWit: Obviously, the discussions at the federal level around healthcare could have a dramatic impact on how life science research is funded. A negative impact on the funding mechanisms for research, be it public funding through agencies such as the National Institutes of Health, or private funding from small start ups through the huge pharmaceutical companies, could cause the USA to lose its current leadership position. Losing our status in the life sciences would be unfortunate since most major medical advances in the last decades have come from North America.
How can the state continue to foster the life sciences given its budget situation? Can it afford not to?
DeWit: The most critical role of the state is to assure its educational system drives a new, knowledge-based economy, including the area of life sciences. We need to be serious about adjusting our economy to a base of smaller, innovative, responsive companies that can compete globally; the foundation for the new economy begins with excellence in our educational programs. We must be serious about celebrating, but dismissing, the old ways of crushing and expensive entitlements, frequent reliance on low-skill jobs and, instead, provide opportunity for new companies to create a bright future for Michigan. It would sadden me if we were to lose the life science legacy of companies like Upjohn, Parke-Davis, Stryker, Kellogg, Perrigo, Ash Stevens, and so many more. Whether the state needs to participate directly in protecting the life-science legacy is arguable and is dependent on one's views of government involvement in business endeavors. My suspicion is that most life science efforts will be funded by risk capital from those with a fundamentally different view of the future than the view of the past. Nevertheless, it would be great if the state is in a position to support the new economy as it unfolds, especially by achieving world class educational systems to feed a knowledge-based economy and allowing for the creation of an entrepreneurial business culture.
What major changes do you see in the West Michigan life sciences industry? What are the game changers?
DeWit: The primary game changers are four-fold:
1.There is a strong need for risk capital. Life science ventures are high risk, high reward ventures; while personalized medicine is a tangible dream based on available technology, safety and efficacy testing will still be required by the world's regulators. My experience is that they will demand more in these two areas which, unfortunately, increases the cost of medical advancement, increasing the need for private and public capital.
2.The most chilling thought for me is that with consolidation of the major pharmaceutical companies we are facing the possibility of 1000's of trained scientists being "right-sized" with nowhere to go. I believe this situation is unprecedented and we need to look for the opportunity for Michigan in the current upheaval.
3.The availability of information to the consumer will drive the demand for newer and better treatments and cures. As our educational systems improve, our citizens will understand that science drives medical advancement and they will be able to interpret the information they are given. Only cutting edge, responsive life science companies will survive the new era of informed consumers.
4.We need to think more regionally. It is common in life science that we need expertise that exists in only one spot in the world to solve a problem. This means that it is not economically sound strategy for each community to develop every bit of knowledge or skill or technology. We do need to constantly update our knowledge of innovations on the global scene so we can access them when needed.
What is the life science industry's role in Michigan's recovery?
DeWit: The life science industry should be one important piece of the region's recovery and new knowledge-based economy. To accomplish the recovery, those who are expert at life science should be encouraged to "do" life science as fast as they can. Similarly, those who have skills in modern manufacturing should expend their energy in that area; the same for alternative energy; the same for those who are experts in tourism, and so on. Based on my career I know that we participate in a global economy which means that low-skilled labor is now a commodity to be purchased as cheaply as possible. This means that we need to nurture our exceptional existing knowledge base to go as fast as we can and to focus concentrated efforts on the next success.
We have the talent to perform well today in the life science arena, but we need to educate the future leaders with the finest educational systems we can create. We need to execute our tasks with excellence, undeterred by the naysayers or those who would hinder our progress with excessive regulation. We need to work hard together, each playing to their strengths to create the diverse, flexible, responsive, powerful economic engine we all desire on this beautiful peninsula which surrounds us!
