LSA-BBAM Strategic Affilation FAQ_10.14.10_FINAL by xiaopangnv

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									                             Frequently Asked Questions (FAQ):
                 LifeScience Alley and The BioBusiness Alliance of Minnesota
                                      Strategic Affiliation

On October 14, 2010, LifeScience Alley and The BioBusiness Alliance of Minnesota announced the formation of
a strategic affiliation to spur industry growth.

Executive Summary

What is the agreement between LifeScience Alley and The BioBusiness Alliance of Minnesota?
The Boards for each organization have approved a strategic affiliation. The agreement between LifeScience
Alley and The BioBusiness Alliance of Minnesota aligns goals, strategy, and functions, under one CEO, while
retaining each organization’s mission, identity, and staff.

Why did LifeScience Alley and The BioBusiness Alliance form a strategic affiliation?
Minnesota is in a unique position for growth in its life science industry. The two organizations are capitalizing on
an opportunity to maximize this growth to the benefit of the region and its people.

What will the affiliation seek to accomplish?
The strategic affiliation creates aligned leadership, broader connections, and stronger influence for Minnesota’s
life sciences to effectively compete on a global scale.

Through leveraging the resources of the two organizations, the affiliation will strengthen the regional economy
by assisting in the growth of established and emerging industries, and attracting new companies, talent, and
capital. It will also serve to maximize efficiency and drive overall effectiveness.

How will the leadership of each organization be affected?
Beginning November 1, 2010, Dale Wahlstrom will serve as CEO of both LifeScience Alley and The
BioBusiness Alliance of Minnesota. Since 2007, Dale has served as CEO of The BioBusiness Alliance of
Minnesota. Don Gerhardt, CEO of LifeScience Alley since 2001, had planned to retire in 2010. He will stay on
until at least January 2011 to assist with a cohesive transition.

Will the structure of the organizations change?
Both organizations will retain their separate missions, identities, and staff. The boards of directors of each
organization will remain independent. However, a joint strategic affiliation committee, populated by members of
the executive committees of both boards of directors, has been formed to guide overall strategy.

LifeScience Alley will remain a 501(c)(6) trade association funded primarily through membership dues and
program fees. The BioBusiness Alliance of Minnesota will remain a grant-funded 501(c)(3) knowledge-based
economic development organization.

How will the strategic affiliation benefit members and stakeholders of LifeScience Alley, The
BioBusiness Alliance of Minnesota, and Minnesota overall?
The affiliation provides the focus necessary to ensure that Minnesota remains a competitive, global leader in the
industries in which it chooses to compete.

This affiliation will lead to:
  Focused support to help sustain and grow healthy companies in Minnesota and the region
  More and better-paying jobs in the state
  Comprehensive implementation of Destination 2025, Minnesota’s long-term retention and growth strategy
     in the life sciences industry
  A focused voice in public policy and regulation at state and federal levels
  More opportunities to attract national and international company expansions and investments
  Improved potential to compete for private, regional, state, and national development grants
  A stronger collaboration in supporting and working with state-sponsored science and technology initiatives
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Background

What are Mr. Wahlstrom’s qualifications to lead the strategic affiliation?
Dale is broadly experienced in high-tech business start-ups and large company management. He left Medtronic
after 24 years in 2007, culminating as Vice President of Cardiac Rhythm Management Venture Programs. Prior
to working in the medical technology industry, he worked in high-tech and clean-tech industries. He is uniquely
positioned to understand and develop innovative solutions to the complex regional, national, and international
issues relating to the various segments of the life science industry. Read a more detailed bio here:
http://www.biobusinessalliance.org/staff.asp.

Did LifeScience Alley and The BioBusiness Alliance of Minnesota have a previous working relationship?
Yes. In 2004, the Office of the Governor asked Don Gerhardt to recruit a leader to form a statewide, industry-
led, public/private partnership to advance Minnesota’s economy in the biosciences. Don asked Dale to launch
this effort and The BioBusiness Alliance of Minnesota was formed.

LifeScience Alley has provided certain services to support the operations of The BioBusiness Alliance of
Minnesota since its inception. The organizations interact on a daily basis sharing information that impacts the
ability to enhance each other’s work, ultimately benefiting their members and stakeholders.

Have LifeScience Alley and The BioBusiness Alliance of Minnesota worked together on other
initiatives?
Yes. The organizations partnered on the successful passage of Minnesota’s angel investor tax credit and the
expansion of the R&D tax credit in the 2010 legislative session to help attract and support entrepreneurs, early-
stage investments, and business expansions in Minnesota.

How will the strategic affiliation interact with state-sponsored efforts?
LifeScience Alley and The BioBusiness Alliance of Minnesota leaders have a long history of supporting and
working closely with the Minnesota Department of Employment and Economic Development, together with its
newly formed Minnesota Science and Technology Authority. In addition, the organizations work closely with the
state’s Agriculture and Commerce departments, Iron Range Resources, and a wide range of other state
agencies, local economic development groups, and foundations.

Is an affiliation like this a sound model?
Yes. The strategic affiliation, linking a trade association and knowledge-based economic development group, is
modeled after partnerships in growing life science economies in Ohio, Kansas, North Carolina, Texas, and other
states. This model retains the independent operations of both legal entities, while enabling a shared vision with
complementary but unique missions.

One example is BioOhio, Ohio's bioscience membership and development organization, which is funded
through membership revenues, grants, and state funding.

What strengths do LifeScience Alley and The BioBusiness Alliance of Minnesota each bring to the
table?
   LifeScience Alley brings a 26-year track record of providing impactful services to its members—strength in
     educating workforces, influencing public policy, and fostering connections and shared knowledge so
     member organizations can bring products and services to market more efficiently, with less risk.
   The BioBusiness Alliance of Minnesota brings focused mandates of fostering and cultivating the long-term
     viability of the Minnesota's bioscience sector. The organization has created a well-researched statewide
     roadmap and strategy (Destination 2025), and is leading projects to implement its recommendations.

What will happen to existing initiatives of the two organizations?
The strategic affiliation preserves—and strengthens—the relationships, initiatives, and collaborations underway
across the state of Minnesota and region.

How will the scope of each organization’s services change?
The affiliated organizations will work together to meet industry demands and stakeholder needs as those needs
evolve over time. Members and stakeholders will continue to receive the same high level of service to which
they have been accustomed.


Key Definitions
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How are the “life sciences” defined, as an industry?
The life science industry includes commercial, government, and educational endeavors that promote the health
and well being of humans, animals, plants and the environment. This encompasses medical devices and
diagnostics, pharmaceuticals and biologics, care delivery and payment, agriculture and food, renewable energy,
and renewable materials.

How is “biobusiness” defined?
Biobusiness is economic activity devoted to the development and commercialization of bioscience or
bioscience-related technologies, products or services. Biobusiness covers the spectrum of enterprises from
start-ups to established firms, together with associated infrastructure and support services.

About the Organizations

About LifeScience Alley
LifeScience Alley is an international leader in sharing best practices, and is the largest state-based life sciences
trade association in the United States. With a membership base consisting of over 635 organizations,
LifeScience Alley provides industry players with a powerful forum for communication and collaboration. Through
education, networking, and advocacy, LifeScience Alley facilitates business connections among its diverse
members, providing insights into current trends and regulatory issues, supporting advancement in research and
technological innovation, and offering the power of one collective legislative voice.

About The BioBusiness Alliance of Minnesota
The BioBusiness Alliance of Minnesota is an industry-led, action-based 501(c)(3) not-for-profit organization
dedicated to the advancement of bioscience-related industries to create jobs for the citizens of Minnesota. The
charter of The BioBusiness Alliance of Minnesota is to bring together all related areas of the biosciences in a
coordinated effort to help ensure the long-term health and success of Minnesota's bioscience industry.

Contact Information
Liz Rammer, LifeScience Alley
952-746-3825 lrammer@lifesciencealley.org

Jeremy Lenz, The BioBusiness Alliance of Minnesota
952-746-3812 jlenz@biobusinessalliance.org

								
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