Nurturing a Life Science Ecosystem for Job Creation and Economic Development in Palm Beach County
Business Development Board of Palm Beach County / October 20, 2016
The Business Development Board’s Life Science Advisory Council (LSAC) serves as the oversight group of leaders responsible for the execution of the 2016 Palm Beach County Life Science Industry Study. Council members are appointed by the Board of Directors of the Business Development Board.
- Serve as the “hub” of the Palm Beach County life sciences ecosystem
- Strengthen and grow Palm Beach County’s life science ecosystem
- Support, facilitate and promote the commercialization of promising treatments, therapies and cures that will improve health and patient care
- Encourage innovation through investments in companies with good science and good business models
- Create high-paying jobs and drive long-term economic development and stability in Palm Beach County.
The LSAC recognizes that this strategy requires the collaborative effort of academia, industry, the investment community and government to minimize parochial interests and recognize that all parties are responsible for the plan’s final outcome. It looks to continue or expand Palm Beach County’s successful existing programs; borrow and refine effective tactics used by other states and communities; recognize the value of collaboration across multiple and competing interests; and serve the long-term vision of a vibrant, competitive and sustainable Palm Beach County life science industry.
The LSAC recognizes that this strategy must be seen as a plan to advance the life sciences over the next decade. The LSAC recognizes that many of the recommendations from the 2016 Palm Beach County Life Science Industry Study face funding challenges in the short-term future. Others require new public-private partnerships to succeed. Still others call for new private investment as well as resources from the public sector. The LSAC is committed to successfully addressing these challenges over time via consistent tactical participation and support.
The LSAC recognizes that the action plan derived from the Life Science Industry Study is a living document that requires months and years of follow-through before it can be fully realized. It will evolve as the industry and the environment evolve. It is the roadmap for all interested stakeholders to follow if Palm Beach County is to maximize on its investments made in the industry to date.
The LSAC will meet quarterly.