YOUR ONLY SOURCE FOR REGIONAL BUSINESS NEWS | westfaironline.com
November 3, 2014 | VOL. 50, No. 44
MBA in Twitter?
INSIDE
Pace, Media Storm to co-brand social media program
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GLOBE-TROTTING • 2
IN THEIR CORNER • 26
FACES & PLACES • 43 Dr. Edward C. Halperin at New York Medical College’s new biotech incubator.
Biotech incubator opens at NYMC BY JOHN GOLDEN jgolden@westfairinc.com “THE BEST WAY TO PREDICT THE FUTURE OF AMERICAN MEDICINE IS TO INVENT IT OURSELF,” Dr. Edward C. Halperin, chancellor and CEO of New York Medical College, told an audience gathered Oct. 29 for a ribbon-cutting outside a long-vacant research building transformed
by a $17 million renovations project on the school’s Valhalla campus. Partnering with state and local government officials and biotechnology entrepreneurs, New York Medical College will provide the workspace and workforce training suites, shared lab equipment and academic resources to aid that invention at BioInc@NYMC, a biotechnology business incubator that has Biotech, page 6
BY LEIF SKODNICK lskodnick@westfairinc.com
usiness success often results from finding a gap in the market. Pace University’s Lubin School of Business believes its newest program will fill a gap in the business education market. Last week, the school announced its new master’s degree program in social media and mobile marketing that will be co-branded with Media Storm, the second-largest independent media planning and buying agency in the U.S. “Social media and mobile technology have fundamentally transformed our culture,” said Jon Cropper, the resident futurist at Media Storm. “In the last five or six years, the power structure has shifted. In the past, tastemakers decided what people wanted and pushed content to them, but now consumers create their own content with more relevance and intimacy than the content creators.” Cropper said the gap that exists between business school education and modern marketing techniques is unique. “Education hasn’t kept up with social media,” Cropper said. “A textbook on social media is almost an oxymoron, because the landscape of social media is constantly changing, while a traditional textbook refreshes every three years.” According Lubin School of Business Dean Neil Braun, that gap — between what students learned about social and mobile media and what they really need to know — has been noticed in business circles. “It’s a big topic of conversation,” Braun told the Business Journal. “Our model (for this program) is different. Pace has control of the curriculum and Media Storm provides integrated experiences for our students.” Pace, page 6