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Agenda - 03-13-2012 - 4b
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Agenda - 03-13-2012 - 4b
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3/9/2012 2:50:26 PM
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BOCC
Date
3/13/2012
Meeting Type
Regular Meeting
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Agenda
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4b
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Minutes 03-13-2012
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25 <br />the company moves to larger facilities (20,000 SF then 40,000 SF). These companies are <br />"liquidated" through a sale to a larger life-science company which often consolidates them <br />outside the Triangle area. <br />Another serial entrepreneur thought that the RTP represented an "old economy" model and <br />encouraged learning from the experience of other areas including Princeton, San Diego, <br />Indianapolis, Menlo Park, Austin and Cambridge. Most of these areas offer urban environments <br />to foster entrepreneurship. He was especially impressed by the innovative work at the Broad <br />Institute in Cambridge. <br />The most insightful interview was conducted with an attorney who provided information on one <br />of the pharmaceutical companies but also had over 30 years experience in facilitating startups in <br />the Triangle area. His resume included 28 startups including four in the OTD database. <br />His main point was that the current needs of life-science companies are quite different than IT <br />firms and other spin-offs. In the current economic environment, life-science companies need <br />considerable funding for many years and specialized space before products are brought to market <br />and revenues are forthcoming. He suggested focusing on other high tech companies that <br />generally need Class B or C office or flex space with very few specialized services. His <br />suggestions were a perfect segue to the second phase of the project where buildings occupied by <br />the surveyed companies were investigated virtually and in person. <br />Facilities Occupied bv Surveyed Companies <br />As noted, some companies occupy "plain vanilla" office space in Durham, Wake or Orange <br />Counties. Others occupy space providing very sophisticated equipment, special refrigeration, <br />clean rooms, wet lab space, areas for human or animal clinical trials, air quality controls, andlor <br />high power/energy capacity. Special attention was devoted to incubator and accelerator space <br />and the types of companies these facilities serve. - <br />The PI analyzed more than 30 past or current addresses and established several categories for the <br />26 surveyed companies as well as additional locations occupied by the other qualified <br />independent companies. One group of companies is in office buildings or flex space in Wake or <br />Durham Counties (3C Institute, 3`d Tech, Channel Advisor, Change & Course, Device Solutions, <br />Novalon and Viamet). Another group of companies is in building clusters in RTP which range <br />from relatively new office space managed by Keystone Corporation and others to smaller older <br />buildings managed by the Research Triangle Foundation (Drug Safety Alliance, Entegrion, <br />Invitrox, Liquidia, Novan and Pharpoint). These spaces are meeting the company's needs but <br />provide no further insights of use for this study. <br />22 <br />
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