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When the Memphis Bioworks® Foundation (MBF) first formed in 2001, president and CEO Steve Bares and the foundation board mapped out an ambitious yet achievable strategy to nourish the local bioscience industry. Connectivity in research, education, job training and commerce is central to the Foundation’s mission to distinguish Memphis as an internationally recognized center for the development and commercialization of biomedical technology. Working with the city’s strengths and planting a firm foothold in business and academia, the non-profit MBF continues to sharpen their focus on the mission’s three core areas: education, entrepreneurship and infrastructure.

“It’s all about building the sectors of growth we have in this region,” said Bares, indicating Memphis’ leadership in orthopedics, medical devices, infectious disease, pediatric cancer, and ophthalmology research.



Academic Partnership

In keeping with the vitality of education, MBF is dedicated to harnessing the potential of biomedical engineering departments at local universities. The University of Tennessee Health Science Center (UTHSC) and the University of Memphis (UM) have offered a joint-degree program in biomedical engineering for 12 years, the only joint-degree program of its kind in the state of Tennessee.

What was once a department in the college of medicine is now the School of Biomedical Engineering a & Imaging (BME&I). Executive dean for UTHSC’s college of medicine, Dr. Steve J. Schwab, invited Bares to be interim director for the school, a position which took effect in January.

“They came to us and asked us to take it to the next level and jumpstart it as it makes the transition from department to school,” explains Bares. “There is already a very competent faculty and staff. What I’m doing is leveraging the strengths that we have in our connectivity to the community.”

As interim director for the school, Bares oversees nine faculty members and an average of 25 graduate students enrolled per semester. His expertise in developing and commercializing biotechnologies is anticipated to increase UT’s ability to place talent in the workforce.



Business Connectivity and Job Placement

Networking is crucial to the bigger picture. Solid industry relationships make Memphis a compelling place to do business. Now associating on its own, MBF has begun an independent business network, the Memphis Bioworks Business Association (MBBA). MBBA is a unique entity created to promote corporate, community and personal development and growth in the biosciences. The association will consist of companies involved in the bioscience industries and related service companies within the Mid-South region.

Originally MBF utilized the Bioworks development council as part the Memphis Regional Chamber of Commerce. Establishing a self-reliant association under the MBF umbrella, Bares said, is a necessary step to “make it a pervasive, vibrant, viable, sustainable business association.”

Through the direction of MBF, the association will bring together companies, business leaders and researchers to foster interaction via strategic communication, development of educational programs, and social and professional networking.

Equally important to establishing a thriving industry is linking talented individuals with the local job market. MBF recently launched a free, online community forum called BioWorks Place. What MBBA is doing for institutions, Bares explained, BioWorks Place is doing for individuals. Members can create and view profiles to learn about internships and career opportunities while networking through online discussions and scheduled events. The site also keeps members up to date on the latest news in bioscience.



Entrepreneurship

During the past year MBF and other business, government and community leaders worked together to design an innovative set of solutions to solidify the economic position of Memphis and the surrounding area. The initiative, called Memphis Fast Forward, is committed to transforming Memphis into a highly competitive, world-class city and the nation’s most important southern center for economic development.

In October, after a year of progress, the MemphisED program, the economic development component of Memphis Fast Forward, was launched, resulting in a detailed strategy for Memphis. The Foundation’s role is to execute two strategies: 1) Drive the existing biomedical plan and expand efforts to include bioagriculture and biologistics and 2) organize a national entrepreneurship ‘center of excellence’, which has been branded as Innova, Inc., an accelerator dedicated to creating high value ventures and jobs. MBF received grants totaling $3 million for first year implementation of these two strategies.

MemphisED awarded INNOVA $11.5 million over five years as seed capital, much of which will be used to invest in small technology companies. More than $17 million has been pledged to MBF from the public and private sector for this five year initiative which will result in new jobs, new businesses, and a continuously improving economy.

“Innova is an important thing we’ve done to be able to commercialize technology,” explained Bares. “Nobody else (is) doing anything like that; not just in this city or state, but in the U.S. To have that kind of focus and that much support from the private sector is unusual. It really tells you how, as a community, we’ve linked together.”



March 2008

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