New BioCrossroads CEO bullish on Indiana’s life sciences future
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowThe new president and CEO of BioCrossroads says his experience with both a major corporation and a small startup will prove valuable for his new role.
Vince Wong was announced last week as the new leader for Indiana’s life sciences initiative. He previously served as chief commercial officer for Missouri-based startup Geneoscopy and spent 18 years at Roche Diagnostics in Indianapolis.
“I think having both of those perspectives can really be helpful as I try to lead BioCrossroads’ effort to increase and enhance the life science community here locally,” Wong said.
Wong discussed how his previous work will benefit his new job and the state in an interview with Business of Health Reporter Kylie Veleta.
“I’ve been in senior leadership positions in both contexts, both in a large organization, so understanding what the challenges are with those for those kinds of organizations in terms of increasing research productivity, keeping [the] innovation pipeline fresh, retaining and attracting talent, building capacity to help accommodate growth, but also having walked into shoes in a startup as well, helping raise capital, trying to get through the regulatory process, dealing with all the threats and challenges that a startup experiences.”
BioCrossroads recently unveiled its 10-year strategic plan to bolster the state’s life sciences sector. Wong told our partners at the IBJ last week that he is aligned with that strategy.
He said he sees two key challenges to the industry in Indiana, which also reflect his varied experience.
“I think larger enterprises that are wanting to grow are challenged with regard to talent attraction and retention. We have very tight labor markets right now, and so how do you get people to be able to to fill the jobs and needs that large companies have to enable and expands their her capacity and capabilities?” he said. “On the flip side, from a startup and smaller company perspective, the capital markets are quite challenging. The last two years have been really challenging environment to raise the critical funding to enable a startup to grow and thrive.”
Wong said BioCrossroads is engaging with a number of partner organizations to stand up a workforce development effort, and more details will emerge over time as the planning process plays out.
“That’s definitely a key pillar of BioCrossroads’ strategy is to help develop a workforce strategy that’s specific to life sciences, to again, help fill the pipeline of talent, and get more Hoosiers trained and ready to fill all the roles that would be necessary to support the growth of life sciences here.”
A native Hoosier, Wong is happy to remain in Indiana and helping to grow the state’s life science sector.
“There’s really no more rewarding thing than bringing something from the lab to patients, but also perhaps nothing more challenging to do in business. And I want BioCrossroads to really play an enabling role to catalyze Hoosiers’ ability to do that and make a lasting impact on human health.”