Oklahoma Bioscience News

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OKLAHOMA

BIO NEWS Okl ahoma BioScience Association

Oklahoma’s Bioscience Industry Growth Outpaces National Average The Greater Oklahoma City Chamber recently updated a regional bioscience strategic plan that found that the region’s employment in this area grew 17.8 percent between 2001 and 2008, outpacing the 15.9 percent growth nationally. The industry continues to provide high-quality, high-wage jobs, with an average annual wage of nearly $50,000, more than $12,000 greater than the average private sector annual wage for Greater Oklahoma City’s total private sector. The study also outlined key bioscience accomplishments for the region that have occurred over the last decade. Those accomplishments include the successful launch of the Oklahoma Bioscience Association, creation of the Oklahoma Seed Capital Fund, launch of the Oklahoma Life Science Fund, creation of the Bioenergy Center, EDGE Fund awarding and significant investments in bioscience research infrastructure.

From the $125 million Oklahoma Medical Research Foundation eight-story research

The Oklahoma Bioscience Association was launched in 2008. This statewide membership organization is

tower, powered almost completely by “wind power,” to the seven-story, $120 million

exclusively dedicated to the growth of

cancer research and treatment facility at

Oklahoma’s bioscience sector.

the University of Oklahoma Health Sciences Center, Oklahoma continues to grow and

The Oklahoma Seed Capital Fund was created in 2007. This investment fund,

expand its facility options.

telecommunications. The EDGE endowment has grown from the original $150 million investment to $165 million.

investment opportunities in the Oklahoma life sciences. The fund finances

in 2007. It is a research and economic development collaboration that is

The Economic Development Generating Excellence

research, advanced materials, weather sciences, energy, agriculture and

The Oklahoma Life Science Fund was created in 2000 to take advantage of

The Oklahoma Bioenergy Center was created by the Oklahoma Legislature

the growth of green house gas emissions and redirect

to fund research projects in areas such as aerospace, biotechnology, sensor

companies.

to reduce dependence on foreign petroleum, shrink

In 2006, the Oklahoma Legislature provided $150 million to start EDGE

and start-up stage equity financing to small, technology-based Oklahoma

rounds.

working to make Oklahoma a leader in America’s quest

(EDGE) Fund is a legislatively-authorized state agency.

and Technology (OCAST) provides seed

fund has provided venture capital to bioscience start-ups in two separate

2008, outpacing the national average.

Center for the Advancement of Science

the most promising early-stage life sciences companies in Oklahoma. This

employment grew 17.8 percent between 2001 and

monies sent overseas for imported oil to rural America.

managed by i2E through the Oklahoma

The Oklahoma City region’s Bioscience Industry

The Greater Oklahoma City Chamber recently joined public and private leaders to reassess the region’s competitiveness, identify new opportunities, address challenges and develop a plan to achieve the region’s vision for the Bioscience Industry. Partnering with Battelle Technology Partnership Practice, one of the world’s largest research and development organizations,


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