Life sciences is about learning from the past and affecting the future. This is why Austin, Texas is the perfect fit for the life sciences industry.

The Milken Institute has called Austin one of the top 12 biotech and life science centers, noting that clustering innovative activity is imperative to the industry. Only a handful of metropolitan areas have what it takes to succeed on a scale necessary to ensure industry sustainability in their regions.

In 2008, Forbes magazine ranked Austin no. 1 among the nation’s 100 largest metro areas for economic growth due to innovation, human capital, infrastructure and quality of life.

Austin is a part of any conversation worldwide when it comes to quality of life and a dynamic, high tech economy. But many other factors helped Austin become a leader in biomedical and pharmaceutical innovation around the state.

“The entrepreneurial environment for starting life science companies in Austin is great. I’ve started three companies since leaving the university. Austin’s creative energy makes it easy to recruit scientists to live and work here. ”
—Matt Winkler, Ph.D., CEO & CSO, Asuragen, Inc.

“The Austin region is fully committed to the growth of the bio/lifesciences cluster. Through our efforts, companies will have more opportunities to collaborate.”
—Bruce Leander, 2007 BioAustin Chair

Austin’s attractiveness as a place to live and work is a huge draw for the life sciences industry. Austin is a metropolitan region of 1.6 million people with great diversity in life sciences, including more than 100 companies in the areas of research, diagnostics, pharmaceuticals, medical device and other related industries. Overall, the tech sector employs more than 100,000 or 18% of the private sector workforce.

Austin's Life Sciences Industry

Highlights

• Abbott Spine unveiled the Universal Clamp™ spinal fixation system in the U.S. The Universal Clamp is an innovative device that simplifies the correction of scoliosis and other spinal disorders.
• ArthroCare Corp. received U.S. FDA clearance to market a new implant system. The Magnum PI Knotless Implant System uses implants made of polyetheretherketone, instead of metal, to attach soft tissue to bone.
• Asuragen spun out Mirna Therapeutics – named after the microRNA it will work with – to find new ways to utilize the genetic material in fighting diseases like cancer.
• Luminex received U.S. FDA approval for xTAG Respiratory Virus Panel that can simultaneously detect and identify 12 viruses and viral subtypes that together are responsible for more than 85% of respiratory viral infections.

Austin talent is by far one of the most innovative, young and educated in the country.

• The region’s population grew 21% between 2000 and 2006, a rate nearly twice that of the state (13%) and more than three times that of the nation (6%).
• We are also younger than the country, with nearly half the population (46%) in the working years of 18 and 44. Our median age (32.4) is four years younger than the national median (36.4).
• Our population is also more educated than the national average with almost 39% having at least a bachelor’s degree (compared to the national average of 27%).

The Battelle Institute’s 2006 state-by-state assessment of bioscience initiatives showed that Texas is one of the leading states when it comes to bioscience education. Texas ranked second in the nation for the number of bioscience graduates and ranked third for university expenditures in biosciences.

Austin is home to both the University of Texas at Austin and the University of Texas System. In the Austin metro, you’ll find a combined enrollment of 118,000 students in four year and community colleges. This provides an ample supply of well-educated workers to area employers. The student population within 100 miles of Austin exceeds 330,000, providing one of the world’s strongest talent pools.

As a world-class research institution, the University of Texas at Austin (UT) has annual research expenditures of more than $497 million. The University consistently ranks in the top 10 for the number of science and engineering doctoral degrees and is the fourth most patent-earning university in the country. UT Austin’s world-class programs include bioengineering, nanotechnology, bioinformatics and pharmaceutical research – in fact the College of Pharmacy is one of the premier institutions of pharmaceutical education and research in the country. UT Austin is home to more than 100 organized research units including several of which will impact Austin’s future in bioscience technology development and commercialization.

• The Biochemical Institute
• The Center for Biological and Medical Engineering
• The Center for Molecular and Cellular Toxicology
• The Center for Nano and Molecular Science and Technology
• The Center for Strategic and Innovative Technologies
• The Drug Dynamics Institute
• The Imaging Research Center
• The Institute for Cellular and Molecular Biology
• The Institute for Computational Engineering and Sciences
• The Institute for Neuroscience
• The Institute for Theoretical Chemistry

In 2007, more than 2,100 patents were assigned to inventors in Austin. Austin’s per capita patent activity consistently outpaces the national rate and clearly shows Austin’s competitiveness as a location for research and innovation. In 2006, the Wall Street Journal named Austin third Most Inventive City due to patent activity.

The region is one of the top targets for venture capital investment in the country, with a demonstrated capacity for generating new ideas and innovation. Austin is home to a sophisticated venture capital (VC) and angel investor community which includes – the Central Texas Angel Network (CTAN). These groups have extensive experience with growth stage companies. CTAN is dedicated to providing quality early-stage investment opportunities for accredited Central Texas angel investors, and to assisting, educating and connecting early stage growth companies in Central Texas with information and advisors for the purpose of raising money and assisting their growth. State programs like the Texas Emerging Technology Fund are actively seed funding early stage tech companies in order to bridge them into traditional VC rounds.

An active partnership exists between academia, the city and state government, and the life sciences community to grow the life sciences sector in Austin. BioAustin, an Austin Chamber initiative, is focused on fostering an environment that attracts and supports bio-related companies, researchers and entrepreneurs.

• The University of Texas and the City of Austin fund the Austin Technology Incubator that works with early stage companies to increase their rates of success and decrease their time to capital and markets.
• UT Austin’s Office of Technology Commercialization serves as a bridge between the research community and the University and commercialization partners, ensuring smooth and fast transfer of intellectual property created at the University.
• The Texas Life Sciences Commercialization Center, located in Georgetown, provides assistance and shared resources to post-incubation companies.

Austin is strategically located between the east and west coasts and centrally located relative to the major Texas metros of San Antonio, Dallas and Houston. Austin-Bergstrom International Airport is a modern international airport served by 12 major airlines with 300 daily arrivals and departures including direct flights to more than 80 domestic destinations and 3 foreign cities.

A dynamic business destination. A dynamic business asset.
From a low cost of doing business to affordable home prices, to a lower overall cost of living compared with most of the country, the Austin region makes financial sense. Our tax structure is fair, user friendly, competitive and designed to make companies feel welcome.

Compared to other major biotech centers, Austin is well known for offering affordable living. Coldwell Banker’s home price comparison index shows Austin’s middle management housing is 42% below the national average for 2007 ($243,250 vs. $422,343).

Interstate System Near Austin

The highest quality of life. As so many “Best of” lists will attest.
The Best Place for Business and Careers. The Best City for Singles. The Best City for Relocating Families. The Live Music Capital of the World. We have it all – highly rated public school districts and entertainment venues tailor made for the outdoor type or the art lover. Home to rock climbers, Tour de France Champions, rock and rollers, movie stars, theater lovers and the top of the creative class.

No matter where you come from, we’re sure once you’ve experienced Austin, you’ll want to call it home.