Governor Announces at BIO New Funds to Support High Tech Business in Kentucky

Continuing from the BIO conference in San Diego...

Governor Steve Beshear announced yesterday a new round of funding for the state’s highly successful Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) grants. The matching funds program is unique to Kentucky. The announcement came as the governor hosted a reception at the BIO International Conference in San Diego.

“This is an excellent opportunity to talk with companies about what Kentucky has to offer and give them the news that we are ready to match, dollar for dollar federal SBIR and STTR grants,” said Gov. Beshear. “This means that small, high-tech companies in Kentucky, and those who are looking to relocate to our state, can potentially double their federal grant awards. We’ve already seen the positive results of this program with more than $7 million awarded to 31 companies. Obviously, Kentucky is backing up its commitment to research and development with money, not just talk.”

Many of the companies that Owensboro is cultivating in the plant biotech cluster being built around Kentucky BioProcessing, including Mapp Biopharmaceutical and Intrucept, will be eligible to apply for the new funds.

“These are the types of companies and jobs that we are actively seeking as we talk with groups here in San Diego,” said Gov. Beshear. “In economically difficult times like we face today, Kentucky must seek a more diverse workforce and the companies that bring these jobs here. Companies like Alltech, with its recently opened Center for Animal Nutrigenomics, Kentucky BioProcessing in Owensboro, Coldstream Laboratories, Advanced Cancer Therapeutics, Scout Diagnostics and many others are great examples of how Kentucky can move forward in the bio-tech field.”

More information about Kentucky's SBIR-STTR Matching Funds, which is funded by the Cabinet for Economic Development's Department of Commercialization and Innovation, and other business support programs, is available online at: www.ThinkKentucky.com/dci/sbir1.

KBP, Mapp Biopharmaceutical Partnership a Key Link to the Plant Biotech Cluster in Owensboro

Continuing from the BIO Conference in San Diego..

On Wednesday night San Diego-based Mapp Biopharmaceuticals hosted a delegation from Kentucky BioProcessing, the Owensboro Medical Health System, the EDC, and Governor Steve Beshear at a dinner to discuss the partnership between Mapp and KBP. Mapp is one of the two small biotech companies that established operations in Owensboro in 2007.

Mapp utilizes the facility and the workforce at KBP as part of its focus on development of a commercial scale production platform for its products. Mapp has developed and is currently producing several different plant derived products for use in small volume trials.

The second company, Owensboro-based Intrucept Biomedicine is a product-focused enterprise whose mission is to discover and develop novel antiviral biotherapeutics. Intrucept has a license from the National Institutes of Health to a plant-derived, broad-spectrum antiviral protein that is one of the most potent antivirals known and can be readily produced using plant-based biomanufacturing at Kentucky Bioprocessing.

Remarkable progress has been made during the past two years in the Owensboro biotech industry thanks to the work of KBP and OMHS.

KBP, the University of Louisville’s James Graham Brown Cancer Center, and the Owensboro Medical Health System’s Mitchell Cancer Center are working together to perform cutting edge cancer research, work with start-up companies developing drugs, and provide full scale bioprocessing of pharmaceuticals and plant natural products. Their joint efforts have the potential for moving Owensboro into international prominence as a center of the plant made pharmaceutical and the natural product development and production industry.

Kentucky BioProcessing offers a unique pilot and full-scale bioprocessing facility with the physical, human and intellectual infrastructure in place to complete any processing without excessive experimentation. It offers small start-up companies huge savings in capital expenses. KBP has created a program that can work with multiple companies and start-ups in the life science industry.

KBP recently completed acquisition of the GENEWARE® intellectual property platform designed and created to enable the expression of genes and the proteins which they encode in plants.

The GENEWARE® system is widely recognized as one of the world’s most potent, robust and effective plant-based gene expression systems. Its acquisition complements KBP’s existing facilities, expertise and intellectual property portfolio. KBP can now operate as a single source provider for anyone interested in the expression, extraction and purification of a therapeutic protein or other high value product for commercial purposes.

Next: implementation steps for the future. Click here for more information on the Greater Owensboro Life Science Partnership.

Owensboro's Emerging Infrastructure to Support Life Sciences and High Tech

Continuing from the BIO Conference in San Diego...

A key result of the first two years of implementation of the Life Science Strategy for Owensboro has been the development of an infrastructure to support the growth of high technology companies in the region.

At the inception of the Strategic Plan, Owensboro had very little in the way of infrastructure to support high tech development. Since 2006 the following high tech infrastructure has been implemented:

Emerging Ventures Center for Innovation part of the state Innovation and Commercialization Center framework helps meet the needs of the plant biotech and other high tech companies connecting them to local, state and national resources. This connection has served several companies utilizing the expertise of the Kentucky BioProcessing facility, thus far five KBP client companies have applied for state funding.

Emerging Ventures Fund created in 2007 by the City of Owensboro, utilizing funds from the Owensboro Riverport Authority. This seed capital pool supports the relocation and growth of high tech companies in the region.

Greater Owensboro Venture Club provides an angel investor network, access to local and state venture funds for life science companies. KBP collaborators and potential customers have presented or are considered likely future presenters to club members.

Northwest Kentucky Green initiative is a regional partnership with Northwest Kentucky Forward, the economic development agency based in Henderson focusing on diversifying the regional economy through support of innovative developments in renewable energy and plant-made natural products. The initiative is serving as a model for regional rural innovation-based economic development around the Commonwealth (http://www.northwestkentuckygreen.com/).

Higher education research and workforce development partnerships- GO-EDC has worked with local and regional postsecondary institutions to develop the future workforce needed for growing biotechnology companies. Last year the Owensboro Community and Technical College received an $800,000 Department of Labor grant to enable the college to recruit high school students and link the two-year degree program in biotechnology to the bachelor’s degree program at Western Kentucky University. The expansion of the WKU undergraduate and graduate degree biotechnology program in Owensboro will also open the door for applied research opportunities in the future.

Owensboro Biotech Alliance Agriculture Database- The regional agriculture industry is engaged in the partnership through the Owensboro Biotech Alliance. Regional farmers are experienced in biotechnology related production and enjoy a national reputation for compliance with USDA regulations. In 2007 OBA completed a comprehensive database of local farmers that have the expertise and willingness to grow crops for plant biotechnology companies.

Next up: Accomplishments in the biotech industry in Owensboro, including KBP, the Owensboro Cancer Research Program, and two new companies in 2007! Click here for more information on the Greater Owensboro Life Science Partnership.

BIO Conference Kicks Off in San Diego

This is the first of a series of blogs from the Biotechnology Industry Organization Annual Conference in San Diego.

SAN DIEGO— Two years after advancing a strategy to lure high tech life science companies, significant infrastructure is in place for Owensboro to be an epicenter for plant biotechnology. The infrastructure has already attracted two plant-oriented biotech firms to locate operations in Owensboro during 2007.

This week local officials will take their efforts to the international stage at the Biotechnology Industry Organization (BIO) Annual Conference in San Diego. The BIO International Conference is the biggest gathering of biotech leaders, public officials and companies in the world. With over 20,000 attendees from 70 countries, 1,900 exhibitors will participate. Over 300 public officials, including Kentucky Governor Steve Beshear, will attend.

In 2006 the Greater Owensboro Economic Development Corporation released A Strategic Plan for the Development of the Life Sciences in Greater Owensboro. The report offered recommendations focusing on high technology developments in the life sciences as a new economic development approach. Since then significant strides have been made in by major players in the industry and in creating an infrastructure supporting high tech company development.

Next: Accomplishments of the Strategic Plan after two years. Click here for more information on the Greater Owensboro Life Science Partnership.

Executive Inn closing presents region with an opportunity

Comments from Dr. Fred Reeves, Director of the Downtown Owensboro at Monday's press conference regarding the community response to the closing of the Executive Inn:

"The swift closing of the Executive Inn presents us enormous short term challenges. However, given the commitment of the Convention and Visitors Bureau and the Greater Owensboro Chamber of Commerce I have great faith that they will have a significant positive outcome on many of these challenges.

At the same time I hold the view these very events present us a great opportunity to realize long term benefits for the community on that 17 acre property.

Prompted by work of the Downtown Development Corporation’s 2007 downtown study recommendations, the City’s recent Strategic Planning process and other downtown advocates, the Greater Owensboro Economic Development Corporation assumed the leadership to launch our “Downtown Place Making Initiative.” That initiative is focused on creating a vibrant downtown that will attract talent to our community.

To that end we have engaged the Gateway Planning Group from Ft. Worth, TX to guide us in the development of a downtown master plan that is implementation-based. This process is significantly different than anything undertaken in the past. as it will provide us a step by step approach to working with private sector investors to develop both the public and private amenities that will once again make downtown Owensboro the envy of our region.

Since the beginning of our discussions with the Gateway Group they have emphasized the importance of the Executive Inn property and its future development. Jon Hockenyos, the lead economist with the Gateway Team, has consistently referred to the Executive Inn property as the cornerstone to our future downtown development.

Our “downtown place making initiative” will guide us as we work with developers to make sure that in the very near future Owensboro has a state of the art convention center hotel complex that will serve our community for the next several decades as the Executive Inn has in the past. The Gateway group will also provide guidance and prudent fiscal analyses to insure that the taxpayers’ investment in amenities and other necessary infrastructure appropriate to leverage maximum private development.

Thankfully, the public and private leadership of the community had already anticipated the need for this progressive approach to downtown development and we have that process already moving forward to insure we proceed with both determination and wisdom."

Glory Industries returns to the Greater Owensboro Venture Club: New Breakfast Format on June 11 at 7:30 am

The recent article in the Messenger-Inquirer about Glory Industries is a testament to the value of the Greater Owensboro Venture Club for entrepreneurs in the region. Dan and Patty Ogles owners of Glory Industries, a company that makes easy-to-replace mud flaps for semi-trucks, made a one-minute pitch at the inaugural Venture Club meeting in spring 2007.

At that meeting Ogles met Ankur Gopal, a local entrepreneur who made a pitch for his company. The connection made at the Venture Club proved to be beneficial to both. Gopal later worked with Glory Industries assisting with the development of their business plan.

"Ankur brought us his business expertise," Dan Ogles told Keith Lawrence of the Messenger-Inquirer. A class on entrepreneurship that Gopal was teaching at Kentucky Wesleyan College helped design a marketing campaign for Fast Flap.

"They didn't even know what a mud flap was on the first day," Ogles said. "But in a couple of days, they were on fire, coming up with all kinds of ideas for us."

The marketing is paying off. At the recent Mid-America Trucking Show in Louisville in March, the Fast Flap caught the attention of CMT's popular "Trick My Truck" cable series. Ogles is hoping the product placement will help the young company capture the attention of the nation's trucking industry.

It all began at the first Venture Club meeting last spring. On June 11, Ogles will return to the Venture Club to be a featured presenter in hopes of raising the $200,000 that they need for the tooling and molds of the product line.

The June Venture Club meeting will also feature a presentation by a Texas-based medical devise company. Both companies that presented to the Venture Club in the spring recieved funding!

The meeting includes a new breakfast format beginning at 7:30 am at the Springs Conference Center. The cost for admission is $10. To make a reservation for the meeting, please contact Melissa Shelton at 270.926.4339 or via e-mail at mshelton@owensboro.com. Reservations can also be made online at http://www.owensboroventureclub.com/

EDC Hires Existing Industry Manager

Sharla Austin-Darnell has been hired as the new Existing Industry Manager at the Greater Owensboro Economic Development Corp. Prior to coming to EDC, Austin-Darnell served as the Existing Industry Manager at the Madisonville-Hopkins County Economic Development Corp., where she served as the Interim-President since February. Prior to working in economic development, she has served as the Executive Director for the Madisonville-Hopkins County Convention and Visitors Bureau. She has a bachelor’s degree from Murray State University and is currently working toward a master’s degree at Murray State.

"Sharla brings several years of experience in working with existing businesses and has run a quality program in Madisonville," said EDC President/ CEO Nick Brake. "She has worked closely with the Kentucky Cabinet for Economic Development and understands many of the issues that impact economic development. She will fit in well with the existing team at the EDC."

Madison Silvert will assume the title of Executive Vice President while continuing to serve as the director of the Emerging Ventures Center and coordinating EDC efforts in high tech development and entrepreneurship. Becky McCubbins will continue to work with marketing and new business development and assume the title of New Business Development Manager.

Jennifer Wright, the EDC Executive Vice President, who handled the existing industry program since November 2007, is relocating to Savannah, GA, where her husband has accepted a job.