The Pittsburgh Life Sciences Greenhouse remains focused on keeping the region on the world map as a dominant player in forming and commercializing new life sciences companies. The 20 county region of western Pennsylvania is rich with passionate life sciences researchers and entrepreneurs whose innovative concepts need to be converted into commercialized products. The current business climate and funding market remain challenging, but our work with our 60 Venture Capital Partners is encouraging and indicates that their interest and investment will continue to be available for our portfolio companies. Funding will remain difficult for a while, and terms will be difficult, but we see light at the end of this tunnel, and it is not a train…..

The Pittsburgh Region continues to receive accolades and attention from outside the region as we have hosted and met with several regions (Kansas City, Alabama, Detroit and others) who are most interested in finding out how we have transitioned our region into a technology-focused region from a manufacturing focused region of the past.  Our emphasis on the life sciences is of particular interest as it has created many high-paying jobs and led to exciting game-changing medical technologies. The message that this region has some of the very best life sciences technologies and a growing talent pool of researchers and entrepreneurs is being communicated and it is being heard. I am confident we will be able to continue to attract talent and capital to our region in order to maintain our momentum and dramatic growth. 

We will focus on even more collaborations, with universities, entrepreneurs and researchers from “outside” the region, to bring talent and technology here to incubate and commercialize. The PLSG will remain cautious in our investment philosophy, but our efforts to start new companies and help commercialize products that improve patient care and quality of life for the world’s citizens will not diminish. In fact, we will be “seeding” more companies going into Fiscal 2011 to fill our pipeline of opportunities to the brim. We remain committed to our region and our growing base of life sciences companies.  Stay tuned for more exciting news as we move ahead.

Very best personal regards,

John