Northern Kentucky Business Leaders present how to grow the Life Science Industry in the Northern Kentucky region at the Covington Business Council Luncheon on April 21, 2011.

1. Turning Science into Success NKY Life Sciences Panel April 21, 2011

5. Housing

6. Government

7. BusinessTurning Science into Success

9. Fill High Wage, High Tech Careers

10. Create and Sustain Livable Communities

12. Desire for Improvement in their Lives

13. Need toExperienceActionTurning Science into Success

15. Support Business Innovation

16. Catalyst for Urban Development

18. Less Opportunity to Compete

19. Less Interest in Civic Leadership, Cultural Vitality and Community Development

23. Turning Science into Success Place Matters “United Airlines is set to move its headquarters to downtown Chicago” “if Albuquerque does not have a vibrant, hip downtown, I do not have a chance of recruiting or retaining the software engineers that are the lifeblood of the laboratory” “For a business to attract talent, a location with 500 yards of asphalt and a Costco next door doesn’t cut it any more” “These companies are getting a jump on a major cultural and demographic shift away from suburban sprawl. The change is imminent, and businesses that don’t understand it may suffer in the long run” Harvard Business Review

25. “Investors will tend to favor cities and urbanizing infill suburbs.”

26. “It’s a fundamental shift … empty nesters and later marrying echo boomers flock to the cities…”

29. Natural amenities

30. Infrastructure

31. Building stockInstitutional & local government success An aspirational community = Sustainable Success

32. Places of the Past… Turning Science into Success

33. Turning Science into Success Let’s Look to the Future!

34. City of Covington Rebecca Volpe, Business Retention and Recruitment Specialist Covington: Taking a Leadership Role in Fostering Entrepreneurship in a Local Environment Turning Science into Success

35. Turning Science into Success Rise of the Entrepreneurial Economy: Why the Urgency? In the recent economic downturn 2/3 of all net job creation came from young firms (3 – 5 years old) Almost all job losses can be attributed to firms with over 500 employees These large firms have increased efficiency and decreased need for employees

37. Application of innovation: Scientists

38. Look to maximize the commercial application of their ideas to the fullest

39. Middle-aged (33 -44)

40. More likely to be male but increase in females

41. Immigrants or first generation Americans

42. MBAs and PhDs lead Tech and Life Science

43. Have families

45. Attractive, local amenities – walkable urban environment preferred

46. Creating strong STEM disciplines in schools

47. Integrating entrepreneurship training in secondary and post-secondaryTurning Science into Success

49. Community that embraces diversity

50. Historic building stock

51. Licking and Ohio Rivers

54. Address shortage of wet lab space

55. Create “third space”