Bates, a Hurricane native, was a professor of medicine and surgery at the
Since then, his company has patented 25 medical devices for a variety of functions, including spinal cord injury therapy, nanotechnology, regenerative therapy and stem cell implantation. In addition to the patents obtained, the company has several more pending.
Bates told attendees at the summit that the state should do more to foster innovation and growth among biotech companies in the state.
"There's no place like
He said executives and specialists in the field should focus on working together to attract investment and grow companies in the region.
"There's really some bright people here and we all need to come together and understand that we all can make a difference," he said.
He said his firm was able to take advantage of seed money from angel investors in the mid-2000s in order to help it grow. He said local innovators should focus on the "white space," areas where no one else has thought to innovate or develop products.
Bates cited one ranking that showed
He said local leaders should try to foster innovation clusters, similar to what towns like
Bates said one plan involved building a similar cluster in
He said for the state to successfully develop a biotechnology industry, it needed to work harder to cultivate its native talent. That included providing support to biotech businesses, building a necessary infrastructure, and doing more to attract and retain educated individuals.
(c)2014 the Charleston Daily Mail (Charleston, W.Va.)
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