When our team saw the recent article from Endpoints on the growth of the biotech scene in Chicago, we were gratified to find that the industry is starting to recognize the leadership and progress of our home city. As a company headquartered in downtown Chicago, HDMZ is well acquainted with the city’s strengths as a leading center for business, and is committed to supporting its continued growth. And, although we may be biased, Chicago has the entrepreneurial spirit that has always defined a city chasing greatness, and we see great things coming for biotech in the windy city. Read on to find out why we’re excited about the potential impact that Chicago may have in biotech in the coming years.
Why Chicago?
In recent years, biotech activity has been gradually increasing in Chicago, as new companies and startups have been trickling in, along with investor interest and an experienced workforce. Among these are high-profile organizations, such as the Chan Zuckerberg Biohub and Fulton Labs, that only increase the focus on Chicago and encourage the continued influx of biotechs. And, as the numbers and interest continue to rise, even more companies are likely to be attracted to the region.
Aside from the vibrancy of this growing community, one of the key advantages of Chicago’s central location is the ease of access to almost any other region of America, including the more established biotech hubs on either coast. Additionally, there is a wealth of high-quality talent to be tapped in Chicago from preeminent universities and healthcare providers, including the University of Chicago, Northwestern University and the University of Illinois, just to name a few. As well as offering a wealth of potential employees for the biotech workforce, such centers of expertise provide opportunities for research collaboration for biotechs across the Midwest.
How more biotech benefits everyone
Although some in the industry have expressed concern that the emergence of more biotech hubs may lead to competition for resources, we take a more optimistic viewpoint. Simply put, biology and disease are complex. For biotech to truly advance in finding cures and improving human health, it will require collaboration across diverse groups, each addressing the challenge from a different angle. Since only a limited number of drug candidates identified in research ever gain approval, increasing the number of treatments in development expands the pool of potential viable solutions.
On a more pragmatic note, cultivating the next generation of scientists and health leaders is likely to take a great deal of funding, mentorship, entrepreneurship, and other resources. With opportunities to access these resources limited to only two biotech hubs located on opposite sides of the country, the potential of our future leadership is likewise limited to people who are willing and able to live in either Boston or the Bay Area. To that end, establishing Chicago as a leader in biotech creates new opportunities, and gives more people the chance to gain the experience and expertise they need to push the field forward.
Building Chicago’s future in biotech
With the growing number of biotechs making Chicago their home, we at HDMZ are poised and ready to support and accelerate the growth of the local biotech ecosystem. We routinely work with a wide variety of health and life science businesses from established leaders to emerging game changers, and we’re excited that more of these great brands are calling Chicago home.
