Prosperity N.J. examines state life science clusters

Prosperity New Jersey, a state organization dedicated to creating jobs and improving the economy, tackled the issue of expanding and increasing the competitiveness of the state's life science cluster at its annual meeting Friday at the University.

Harvard Business School professor Michael Porter '69 presented the results of his study to Prosperity's board, of which President Tilghman is a chair. Porter, a leading expert on business strategy and competitiveness in the global marketplace, examined the state's innovation in the life science cluster.

A cluster is a geographical concentration of companies, suppliers and institutions that share skills and technology.

"There is no doubt that New Jersey's life science innovation cluster is one of the brightest stars in our state's economy," Gov. James McGreevey said in a press release. "For many years, this cluster has employed the best and brightest scientists in the world. But other states are catching up and the time has come for us to shift the cluster into high gear for the new century."

Porter's study concluded that the state must increase its connectivity and collaboration among the different institutions that form the cluster.

"Competition in life science is shifting and evolving," he said in the report. "Today, the fastest-growing, most dynamic regions are characterized by great research universities and teaching hospitals; vibrant startups or new companies; extensive outsourcing; and effective linkages among companies, universities, and advanced clinical practitioners that facilitate technology transfer, the exchange of ideas and partnerships."

Noting that other clusters in northern California, North Carolina and Boston have succeeded by taking advantage of area research universities and entrepreneurship, Porter laid out a plan of action to increase New Jersey's competitiveness.

He supported a proposal currently under consideration to merge New Jersey's state research universities "to leverage our strength in life science." This would increase funding from the National Institutes of Health and improve New Jersey's standing in other rankings related to the life science industry.

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Porter also said that the state should encourage research and development collaboration among universities, industry and government, and create incentives for investing in life science startup companies.

"This report and the recommendations it contains are a priority for me," Gov. McGreevey said. "Working together we will increase the research engine in our universities, enhance the collaboration between our universities and our industries, and create a more dynamic economy converting laboratory ideas into marketplace realities," he said.

Porter's study was part of the New Jersey Life Science Super-Cluster Initiative, which was founded last October. Prosperity's other initiatives are in the areas of nanotechnology, urban development and career placement for high school students.