Medical Design Briefs - October 2023 - 4

Where to Go to Grow Your Medtech Start-Up
nowned academic and research institutions,
support of the local government and
industry associations, and strong VC presence.
Minneapolis-Saint Paul, San Francisco
Bay Area, Greater Boston, and Salt Lake
City comprise the remaining top clusters.
" The elements that are mission critical
future? JLL says that other markets with
top-10 life sciences talent pools include
metro DC, Raleigh-Durham, and Los Angeles
- the latter of which is not traditionally
thought of as a top-10 market but is
rising fast, according to the report. For
medtech, Orange County, CA, is the topranked
market due to its presence of reMDB
DA Pro Rubber Ad 0621.qxp_1/2 Page Horizontal 5/24/21 2:25 PM Page 1
for young start-ups to grow are numerous,
and, while the top 10 markets provide
what is necessary for the discovery
and clinical stages and house the highest
concentration of VCs with deep industry
knowledge, new markets like Los Angeles,
Chicago, and Houston are showing
signs of significant growth and potential, "
says Maddie Holmes, senior research
analyst, Life Sciences Industry Insight
and Advisory for JLL. " These
emerging clusters are attracting investments
from universities, institutions,
governments, and industry players who
recognize the importance of fostering
breakthrough scientific developments. "
The report also highlights New York
City, noting that it is often talked about
I
ndustry observers know that Boston,
the Bay Area, and San Diego have had
decades of clustering and boast the
deepest benches of researchers at the
discovery and clinical stages, as well as
the highest concentration of VCs with
deep industry knowledge, notes a new
report from JLL, a real estate and investor
firm. Traditionally, those markets
have offered " second-generation space,
spec suites, and forthcoming supply -
enough to provide the necessary capital
and infrastructure to further their science. "
But, the report adds, these markets
come at a higher price in terms of
real estate and talent.
So where are the opportunities in the
as the next " it " market and shows promising
signs - boasting a top-10 market
for capital and the ninth-deepest pool of
life sciences talent in the country. And
New Jersey, long a hub for traditional
pharma, " makes for an intriguing option, "
because it offers " the sixth-most
leasable real estate plus eight million
square feet of user-owned space, out of
which some may eventually be scooped
up by investors trying to capitalize on a
market that boasts the fourth-best talent
market in the U.S. "
Importantly, the report emphasizes
that the long-term growth prospects for
both medtech and biomanufacturing
are exceptional and, given the significant
capital investments and the pivotal
role of manufacturing operations in a
company's success, choosing locations
and sites with long-term value and optimal
deployment is imperative.
Sherrie Trigg
Editor and Director of Medical Content
4
www.medicaldesignbriefs.com
Medical Design Briefs, October 2023
http://info.hotims.com/84484-764 http://www.medicaldesignbriefs.com
Medical Design Briefs - October 2023

Table of Contents for the Digital Edition of Medical Design Briefs - October 2023
