The 2024 BioHealth Capital Region Forum (BHCRF) once again solidified its position as the premier gathering for the life sciences industry in the region. Marking the tenth year of the impactful event, hundreds of industry leaders, government officials, academic researchers and investors were brought together to discuss the latest trends, challenges and opportunities in the field.
A well-oiled collaboration
It takes a village to plan and manage a forum. The BioHealth Capital Region (BHCR) Conference planning committee collaborated with sponsors including TEDCO and event management from Taylor Made Experience to ensure an organized, engaging event.
TEDCO’s chief investment officer, Jack Miner, praised the BioHealth region and forum, noting “This region is probably the most functional in terms of sharing resources, not diluting each other’s efforts…the entrepreneurs really benefit a lot from the collaboration that’s been created in this region, and that’s really unique.”
Richard Bendis, founder, president, and CEO of BHI agreed, stating “We’re proud
to have TEDCO as a collaborator who is funding a lot of the early-stage life science companies in the state of Maryland that actually are participants in this event.”
Regional collaboration, investment, and funding
The forum demonstrated a growing emphasis on regional collaboration, welcoming Maryland Governor Wes Moore and Virginia Governor Glenn Younkin, setting the tone for collaborative discussions in the DC, Maryland and Virginia (DMV) region.
Kicking off the event, Governor Moore highlighted Maryland’s significant investments in the sector, including 54,000 jobs, 3,600 labs and offices and the largest concentration of PhDs and MDs in the country. Governor Youngkin complimented this dedication by emphasizing Virginia’s commitment to fostering research and development through investments of $110 million.
Over the course of different panels throughout the event allowed investors and entrepreneurs to discuss challenges and opportunities associated with the current funding landscape, strategies for attracting capital, and the role of government funding programs.
In a regional panel focused on SSBCI funding, Miner noted that he along with investment professionals from across the region including Nick Duafala of KStreet Ventures in Washington, D.C. and Tom Weithman of Virginia Innovation Partnership Corporation (VIPC), continue their commitment to “focus on the founder and the company’s best interest first and the geographic location second.”
Maryland spotlight: Montgomery County’s life sciences leadership
Montgomery County executive Mark Elrich underscored the state and county’s role as a national leader in life sciences development. He highlighted the county’s various matching programs, such as Commercialization Grants, SBIR match, and BITC match, which have attracted numerous life sciences companies. Elrich also reminded audiences to continue embracing the region’s proximity to federal agencies like the FDA, NSF, and NIH which provide a significant advantage for innovation.
TEDCO’s senior director of Venture Funds, Katherine Hill Ritchie agreed, stating “To me, this area has always been a biotech hub and it’s great that we have so many of those resources right in our state. We’ve got more state labs than any other state. So, we’ve got a lot of great talent, right in the region.”
Future outlook
The 2024 BioHealth Capital Region Forum was a resounding success, highlighting the region’s leadership in the life sciences industry. The event demonstrated the strong commitment from government officials, industry leaders and researchers to driving innovation and fostering a thriving ecosystem for life sciences companies.
The event again provided a valuable platform for industry professionals to connect, share ideas, and explore potential collaborations. Networking attendees engaged in numerous meetings and discussions that continued after the forum’s end.
Attendees left feeling inspired and energized about the future of the life sciences industry in the BioHealth Capital Region. The BHCRF continues to grow each year, exposing others to the region’s talent and resources, and demonstrating the region’s strong commitment to innovation, collaboration, and growth.
Source: The Daily Record