A recent report by Battelle ranked Wyoming last in biotechnology. So what does it mean to be at the bottom of the biotech barrel? Sheridan Media's Betsy Love spoke with a local bio-entrepreneur who thinks the answer may partly depend on how we look at the barrel:
Being only one of two states without a biotech organization, as well as other reasons, are why we appear to be close to the bottom of the biotech barrel, according to this report.
However, Wyoming has still generated over 80 “bioscience” patents since 2004. And this is one of the many reasons conference organizers say biotechnology is “ripe for opportunity in Wyoming.”
Garrett Lindeman is a local bio-businessman who also spoke at the conference. He says one solution is to build a bigger barrel:
However, he says building this industry locally not only requires a broader perspective, but also a shift in perspective:
And although biotech is a relatively high-risk industry overall, he says increasing Wyoming's biotech portfolio would reduce economic instability by balancing out our other two main industries, energy and agriculture:
Also, along with higher risk comes higher average salaries.
Ultimately, he says building biotech in Wyoming is a “multi-layered problem, but not one that insurmountable”:
Covering the bio-tech boom for Sheridanmedia.com news, this is Betsy Love reporting.