In this interview, Paul MacDonald, Head of Community at World Bio Market Insights speaks to Dan Hoffman, CEO of Invest Nebraska, ahead of Bio Innovations Midwest on 24-25 September in Omaha.
Paul MacDonald (PM): Welcome to 5 Minutes With…could you please tell us more about Invest Nebraska and what it does for the entrepreneurial/innovation ecosystem in the state?
Invest Nebraska is a statewide venture development organization that partners with the Nebraska Department of Economic Development to assist and invest in technology startups in the state. Central to Nebraska’s technology-based economic development strategy are the Nebraska Business Innovation Act programs administered by the Department of Economic Development. These matching programs provide grants and equity capital to startups growing in Nebraska. Planting many seeds at this early stage of growth is extremely important for a growing entrepreneurial ecosystem. The results of these programs have been transformational. Since the start of the Business Innovation Act programs in 2012, Nebraska is one of the top 10 fastest growing states for attracting venture capital over the following decade.
Invest Nebraska also operates The Combine, a statewide incubator for AgTech startups and the BioTech Connector, a wet lab incubator for Biotech startups on Nebraska Innovation Campus. We strive to collaborate with community partners to build the entrepreneurial infrastructure needed to grow the state’s innovation and technology sectors across the state.
What role does Invest Nebraska play in the bioeconomy?
The bioeconomy is Nebraska’s “North Star”. As Nebraska Governor Jim Pillen has said, the bioeconomy could someday produce many of the everyday things we use from plastics to pharmaceuticals. Invest Nebraska is one of the catalysts in the bioeconomy as we work with entrepreneurs moving their ideas to the lab and then to the market. Collaborating with university researchers, private industry, and government leaders, we believe there are exciting opportunities ahead! Agriculture is at our core, but combining that with the Ogallala Aquifer, our ethanol infrastructure, a strong research university, and a growing entrepreneurial ecosystem – you have the ingredients to achieve great results.
Why are you excited to be part of Bio Innovations Midwest?
Bio Innovations Midwest allows Nebraska, and other Midwest states the chance to highlight the great progress and opportunities in the middle of the country. Combined, the Midwest is a very powerful economic driver in the world economy. The list of speakers and panelists touches every element of the industrial biomanufacturing ecosystem. This will be an exciting learning opportunity for all attendees.
