INDIANAPOLIS, Feb. 13, 2012 /PRNewswire/ -- Ten years ago today, a task force comprised of Indianapolis business, academic and civic leaders came together to develop a strategy for Indiana's life sciences sector that would catapult the state's legacy of strong life sciences companies and research institutions into a 21st-century hub for biotechnology and medical technology. Known today as BioCrossroads, that strategy has driven the state into the national spotlight as a leader and destination in biotechnology, medical devices and healthcare information technology.
"With major players like WellPoint, Eli Lilly and Company, Cook, Roche and Indiana University School of Medicine calling Indiana home, we knew we had worthy assets to build an economy of scale," said David Johnson, president and CEO of BioCrossroads. "But 10 years ago, those remarkable entities weren't collaborating, or in some cases even talking to each other, so we knew we needed a catalyst to make bigger things happen for Indiana."
Initially, BioCrossroads (originally called the Central Indiana Life Sciences Initiative) was tasked to spur life sciences research, generate more investment dollars, and attract more talent to build on the remarkable base of leading life sciences companies and research institutions already residing in the state. BioCrossroads started as a Central Indiana-based initiative, but over the past decade has spread throughout the state making significant--and measurable--progress on the original goals.
A "success story" according to an industry report in 2011, BioCrossroads has raised more than one-quarter billion dollars in philanthropic grant funds and capital investments to start and support life sciences opportunities. BioCrossroads has also organized four venture capital and seed-stage investment funds, launched eight new enterprises like the Indiana Health Information Exchange, the Fairbanks Institute for Healthy Communities, and OrthoWo
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