Tennessee's Life Science entrepreneurs unite

Tennessee is fortunate to be home to several successful industries in different parts of the state.

Nashville is known for its healthcare scene. Chattanooga was the first city in the country to have Gigabit Internet and is becoming a hub for 3D printing/additive manufacturing. Memphis is a leader in both the medical device and logistics industries. Knoxville is capitalizing on its local digital media corporations in addition to leading energy research.

An emerging statewide sector that encompasses many of the above industries is the life sciences. The life science industry spans many different markets and includes companies in fields such as medical device, pharmaceuticals, research, bio-agricultures and bio-logistics.

Leading the charge to support innovators and entrepreneurs in this sector is Life Science Tennessee, a statewide nonprofit organization whose members include companies, universities, research institutions, government economic development groups and other industry associations. Life Science Tennessee's annual conference kicks off on Oct. 20 and runs through Oct. 22 in Nashville.

This important event will feature top life science executives, thought leaders and legislative supporters. The conference also will showcase a few of Tennessee's life science entrepreneurs at the Life Science Tennessee Venture Forum, a pitch competition for promising early-stage life science companies in Tennessee.

For the first time this year, the winner of this pitch competition will have an opportunity to pitch at the Southeast Bio Investor and Partnering Forum, which is predicted to attract more than 100 investors. Other prizes for the winners include $5,000 from Waller Lansden Dortch & Davis, LLP, the creation and production of a five-minute pitch video from Benchfly and a preclinical development map from TriMetis.

All companies participating in the pitch competition have already been matched with mentors. In addition to this opportunity for feedback, they'll also get advice through one-on-one time with investors and have the opportunity to network with many other leaders in Tennessee's life science industry.

Even applicants who were not chosen to pitch will receive feedback from industry executives on their applications. This kind of real world assessment is invaluable to entrepreneurs in any industry.

This isn't the first event for Life Science Tennessee this year. Working with Baker Donelson law firm, the organization did a comprehensive survey of the startup ecosystem for the life sciences as well as held roundtable events in Chattanooga, Nashville, Knoxville and Memphis in August.

In response, the organization also is releasing two reports this month — one focused on the challenges that life science entrepreneurs face in Tennessee in seeking to commercialize their technology and one about the importance of capital to life science industry growth in Tennessee. These reports will help us better understand the pipeline of life science technologies in our state, identify the service and networking gaps that exist in bringing these technologies to market and encourage more investment.

Capitalizing on existing technologies is a great way to build new businesses and create jobs, which is why commercializing research is a key to increasing entrepreneurship in Tennessee. This charge is extremely important to the Launch Tennessee team and our state is fortunate to have an organization like Life Science Tennessee helping to do just that.

Life Science Tennessee has done tremendous work in raising awareness about this sector and helping entrepreneurs get access to the resources and advice they need to create successful businesses. Their next conference and the release of these reports is just another step toward success.

For more information on the Life Science Tennessee Venture Forum, visit http://www.lifesciencetn.org.

Charlie Brock is CEO of Launch Tennessee (www.launchtn.org), a public-private partnership focused on supporting the development of high-growth companies in Tennessee with the ultimate goal of fostering job creation and economic growth.

For more information on the Life Science Tennessee Venture Forum, visit www.lifesciencetn.org.