Local life sciences industry puts on strong showing at MichBio Expo

Wednesday, December 10, 2008 | Source: Concentrate
Michigan's life sciences industry recently flexed its muscles with the 4th-annual MichBio Expo.

Five hundred bioscience professionals and dozens of exhibitors attended the event in Novi. Sixteen companies presented their products and business plans to an audience of venture capitalists and angel investors. It's things like these that makes Stephen Rapundalo, president and CEO of MichBio, think there is a direct correlation between things like the expo and local business creation.

"The expo is absolutely critical for fostering business opportunities for a variety of companies," Rapundalo says. "It's also a great networking opportunity where a lot of businesses emerge."

At first this year's expo didn't look like it was going to be as successful as previous ones. The economy and dour mood in business left Rapundalo and other organizers thinking it might not hit the just under 500 average. But those doubts proved to be misguided when the more than 500 attendees showed up.

"There was a mad rush at the last minute," Rapundalo says.

A number of local businesses and entrepreneurs received awards. John D. Schwartz, CEO of AI Medical Devices, won the first Innovator of the Year Award. Ann Arbor's Accuri Cytometers took home the Good to Great Award for making the biggest leap forward in business.

A number of local students and teachers also took part in the expo's lectures and demonstrations.

Next year's expo is set to take place in Kalamazoo.

Source: Stephen Rapundalo, president and CEO of MichBio
Writer: Jon Zemke
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