General News

Indiana recognized for its thriving life-sciences sector

Monday, March 5, 2018

A new report from the Washington, D.C.-based Information Technology and Innovation Foundation highlights Indiana as one of five states that has successfully created a “unique ecosystem” that enables the state’s life-sciences sector to flourish. The report specifically points to the work of Richard M. Fairbanks Foundation grantee BioCrossroads, which has played a critical role across Indiana as a catalyst for the life-sciences.

"Indiana stands out," said the report's author, Joe Kennedy, "in areas such as feeding the pipeline of skilled workers and state incentives for research and development."

One essential element for a thriving life-sciences sector is the availability of capital to fuel innovation and economic development. BioCrossroads recently reported that Hoosier businesses in the sector received a record $107 million infusion from venture capital investors in 2017.

These are encouraging trends for a sector that has more than a $62 billion economic impact, includes nearly 1,700 companies and employs more than 56,000 workers in Indiana.

Learn more about the Richard M. Fairbanks Foundation’s funding to support Indiana’s life-sciences sector.

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