Out position is:Initiative is an impressive effort to
capitalize on one of Indiana's key strengths: the life
sciences.
It's a business paradigm one might be surprised to
see in a competitive, capitalistic society -- collaboration among
same-industry firms and related groups -- but it's the driving
spirit behind the Central Indiana Life Sciences Initiative.
If recently announced plans by the mayor and
Indiana University to build a $35 million medical information
sciences center Downtown are a sign of things to come, it's a
healthy spirit certain to inject life into the state's ailing
economy.
Back in March 2001, the Central Indiana Corporate
Partnership released a study that identified three industries
likely to play a key role in the state's economic future: advanced
manufacturing, information technology and life sciences. A second
study corroborated the potential of the life sciences industry here
in Indiana, and as a result, CILSI was born 10 months ago.
With leaders from CICP, the mayor's office, the
state's health industry, IU, Purdue and Eli Lilly and Co., among
others, this visionary consortium has attracted community,
government and business support in recent months, as well it
should.
Hoping to bolster the $13.6 billion life sciences
sector here, CILSI's four-pronged aim is to form
public-private-academic partnerships to foster continued growth;
cultivate the work force to ensure Hoosier schools study this
booming field and develop curricula accordingly; locate capital to
fund startups and research; and raise awareness of existing life
science assets.
Those assets are significant. Already home to such
giants as Eli Lilly, the Cook Group, Guidant, Roche Diagnostics and
Dow Agrosciences, not to mention top universities such as IU,
Purdue and Rose-Hulman, Indiana harbors a wealth of top-notch
intellectual talent and physical infrastructure.
Lilly Endowment's recent $24.9 million grant to
Rose-Hulman Ventures -- that's in addition to the $29.7 million
given RHV to get it off the ground three years ago -- is more proof
not only of Lilly's continued generosity to this state but the
tremendous benefit of collaborative efforts, philanthropic and
otherwise.
An offshoot of Rose-Hulman Institute of Technology,
RHV provides technical, financial and business support for startup
firms and technologies. Since its inception, RHV has helped launch
31 firms employing 344 people, while also giving students at
Rose-Hulman and elsewhere the chance to get practical research
experience.
Developing a game plan to turn this area into a
national and international life sciences center is CILSI's goal.
It's the kind of effort that will translate into real economic
growth for Indiana.
