Nate Feltman: Building a bioscience powerhouse

Central Indiana has a real opportunity not only to compete in the biosciences but to become the next great American hub on the scale of North Carolina’s Research Triangle.

The foundation is already here. Central Indiana is one of the most innovative regions in the country when it comes to the biosciences sector. Led by drug powerhouse Eli Lilly and Co., Indiana recently surpassed California as the No. 1 exporter of life science products. The sector generates $125 billion in direct annual economic impact, and Indiana researchers have produced more than 12,800 patents since 2010—three times the national average. As highlighted by experts at IBJ’s recent Life Sciences Power Breakfast, this isn’t an emerging sector but already a dominant force.

Unlike other emerging regions, central Indiana’s strength spans the full bioscience spectrum—human, animal, and plant health.

Animal health leader Elanco is investing in a new downtown headquarters and anchoring the One Health Innovation District. Lilly continues to invest heavily in its downtown presence, as well as the LEAP Innovation District in Lebanon. Corteva Agriscience is advancing global leadership in plant science. Combined with strong research universities and deep manufacturing expertise, central Indiana possesses a powerful, vertically integrated ecosystem that is capable of discovering, developing, manufacturing, and distributing bioscience innovations in one place at a globally competitive cost. This is what sets central Indiana apart and what positions it to become the next Research Triangle.

The opportunity now is not to build from scratch but to connect what already exists. Recent place-based investments throughout the region represent unprecedented investments in the biosciences. The One Health Innovation District, the LEAP Innovation District, IU Labs located at 16 Tech, the Indy Health District anchored by IU Health, the Fishers Life Sciences Innovation Corridor, and Noblesville’s Innovation Mile each represent critical nodes of biosciences economic activity. Individually, they are impressive. Together, they can form something far more powerful — a connected constellation of innovation where resources are shared and more start-ups and corporate carve-outs are made more possible due to further collaboration.

Speaking at IBJ’s Life Sciences Power Breakfast, Aaron Schacht, CEO of BiomEdit, a carve-out of Elanco, described Indiana as having the potential to become the “cradle of carve-outs.” He’s right. Elanco was spun out of Lilly. Corteva traces its roots to Dow AgroSciences, also owing its start to Lilly. This is a region that knows how to take world-class science inside large organizations and turn it into new, independent companies. With leaders across human, animal, and plant health operating in close proximity, and increasingly collaborating, we are well positioned to generate the next wave of startups and scaled carve-outs.

Work is underway by CEOs of Indiana Corporate Partnership (CICP) to better align and accelerate Indiana’s bioscience strategy. The goal is to transform a collection of strong assets into a cohesive, nationally recognized innovation engine. As part of that effort, CICP will soon announce a new, unified name for central Indiana’s innovation districts representing an important step in sharpening how we tell Indiana’s biosciences story and better market the region for further investment and growth.

The Research Triangle succeeded not simply because of its institutions but because of how effectively it linked them. Central Indiana has those same ingredients. What we need now is tighter alignment, clearer storytelling and intentional collaboration.

Now is the moment to think bigger. With focus and coordination, central Indiana won’t just participate in the future of biosciences. It can lead it.•

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Feltman is publisher of IBJ and CEO of IBJ Media. Send comments to [email protected].