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Report to help guide Iowa’s bioscience industry

Photo by Anna Hastert

A report, lead by the Iowa Economic Development Authority (IEDA) and Iowa Innovation Council (IIC), will help advance Iowa’s bioscience industry.

IEDA and IIC hired TEConomy Partners, LLC. to conduct an in-depth analysis of Iowa’s bioscience industry. Doane Chilcoat serves as chair of the Iowa Innovation Council. Chilcoat says IEDA and IIC hoped to provide a fresh and integrated perspective on biosciences in Iowa, as well as the overall opportunity landscape.

“Our thinking was the IEDA should focus on the intersection of Iowa’s strengths and market opportunities. Its overlap is where we want to develop strategies that are focused around operately leveraging technology, talent and capital,” Chilcoat said.

The 2017 Iowa Biosciences report outlines four platforms as the future of Iowa’s biosciences development. The platforms include:

  • Medical devices
  • Biobased chemicals
  • Precision and digital agriculture
  • Vaccines and immunotherapeutics

The report also offers strategies to help Iowa capitalize on each platform. The strategies include:

  • Establishing a public-private Iowa Bioscience Development Center
  • Increasing capital available for investment in bioscience companies
  • Ensuring continued legislative support for existing innovation ecosystem development programs
  • Improving connectivity and collaboration opportunities between key stakeholders in each bioscience development platforms

Governor Reynolds says the report will play an important role in Iowa’s economic future.

“Biosciences are critical to Iowa’s current and future economic success” Reynolds said. “Thanks to the Iowa Economic Development Authority (IEDA) and the Iowa Innovation Council (IIC), we now have a new roadmap for a biosciences future.”