The visit to Omeris and TechColumbus was an eye opening experience to all of the technology that is being produced within the area. The thing that I found most interesting was the business strategy behind the deal making. Although information and ideas are science based, business is the key ingredient in all production. Investors and dollars are the pushing factors behind making a product. In general, if I were to innovate a new product, an incubator seems like the most ideal place to succeed. The success rate alone (84%) for companies in the incubator speaks for itself. Overall, I feel this was a good experience. It opened my eyes to the world outside research and academia and into the world of business, which does not get much exposure within a lab setting.

The visit to Columbus tech was an interesting experience, where the realities of our capitalist expansion of our laboratory techniques was greatly highlighted. I personally would have preferred more time spent with exactly how other people in our positions, or in the positions of professors and researchers, were able to make it into the business scenario rather than a dissertation on finance, but that is a bias that most science people will share. Omeris was an interesting idea, however, I do not feel that the speaker had enough time or direction to say how we could get involved or what getting involved would actually entail.

I liked the tour to Omeris. It was interesting, and I had never heard of anything like a business incubator. It’s nice to know that if I ever have a really good idea for something new there is a place out there where it is a possibility to succeed. It seemed that with the idea, a little bit of business sense is needed, but once the ball gets rolling, there are always other people to help the idea along. And it does seem that being in the actually building would be beneficial, especially with all the contacts and chance meetings one could have. I thought the story about the doctor who developed something and then went back to work was nice. He started the idea, ran with it a little, and then handed it off to someone else and all the while he is seeing a profit because he developed the idea. I can’t remember specifically if it was the vein visualization goggles or the touch free glucose meter, but either way he will probably be making a lot of money and not doing too much work. And it will all be a secondary income to his medical practice.

It’s also always helpful to get some funding and it seemed like if the idea was good enough, one could probably get some money to help. But like all things to be successful, one needs to not only know the technical aspect in and out, but also have thought ahead enough to cover other aspects to make the technical aspect worthwhile. Like the manager of TechColumbus said, you can have the best idea in the world, but if you haven’t thought ahead enough, it won’t go anywhere.

The lecturer was Bill Tacon, a Doctor in molecular biology. He had working experience in pharmaceutical company, doing research in biology, and currently he is member of staff in Omeris. Omeris is founded in 1986 as the Edison biotechnology center. It is a

non-profit organization designed to build and helping bioscience industry, research, and education in Ohio. Omeris is not managed by Ohio State University. The staff in Omeris includes attorneys, accountants, and professionals who understand the technology to start a company and making international business. The access to capital helping start ups find investors and helping investors find companies to invest in. Omeris include some of bioscience incubators or business accelerators such as TechColombus and Bioenterprise. What TechColombus do is to start up company, making collaboration with universities, and etc. TechColombus also provides management support for startup company until the company operates on its own.

The tour to Omeris and TechColumbus gave me an insight on starting up a business. They provide an excellent environment on promoting the technology that benefits the society and also enhancing the economic flow. They have different incubators helping those with excellent idea to set up their company and lead them to success. From this tour, it makes me realized that even if I have a great idea or concept, I will not be successful if I do not know how to realize my idea. The idea will be worthless if it never attracts the public and if I do not have a proper plan. In order to succeed with the idea, a great business plan must be employed. TechColumbus helps those with commercially applicable technology to promote their ideas and therefore encourage the growth of the technology available. Nevertheless, starting up a business is never as easy as many thought it would be. Without a great plan and interesting, applicable idea, we would never succeed as a businessman.

The tour to the Omeris facility was not at all as I had thought it would be, but really I did not know what to expect since I had never heard of Omeris before. When we arrived we were presented with information about how Omeris was a state funded organization aimed at helping people with biotechnical business ideas but no funding. Although this information is in no way inaccurate, it is only half of the full story. Omeris is an incubator company that helps small people with big ideas to flourish. I am not sure of the initial intentions of the company when it was founded, but it seems now to just be a business plan aimed at making money through smart investments in smart ideas. This idea far overshadows the biotechnical aspect of the company; in fact, Omeris is interested in both biotechnical ideas and information technology ideas, both of which are a nice buzz in the current business market.

Omeris definitely provides aspiring individuals, which have a business sense, with a great option to help them spread their ideas and start a profitable company. However, they made it very clear during their presentation that the Omeris business plan in not for the faint of heart and requires rigorous amounts of work and dedication, which means that they are not an option for everyone. The fact that they are interested in biotechnical ideas simply coincides with the booming market based around biotechnology. I see Omeris as company more dedicated to their board members and investors than in the small time inventor with a great idea. This is the cold truth, but is not meant at all in a bitter manner. Having toured the Omeris site gives me a good idea of why I am a science major and not a business major at the Fisher Business Institute.

OMERIS is a state funded bioscience membership. They are in the business of starting small companies and incubating them while they grow to their potential. The business concept is to build a case for a new product, then engage actively in the formation of a business plan and model. From this model they can further the business to the next level by developing some type of a protocol using their vast resources. Raising capital which is a very big milestone in any business is much easier when you use a company like Tech Columbus. I was very pleased with the presentation of this non profit organization and I would look to meet and talk with the team at some time in the future. I have a few ideas some which have already taken flight and others which haven't that I think could potentially grow into large businesses with the right guidance. Tech Columbus has the ability to help with networking, trade missions, advocacy, workforce, and company attraction all of which are necessary when beginning a company. I know from experience how difficult it is running a small business and I can t imagine what it would be like to have people to ask whenever a question arises whether about the financial, the advertisements, legalities and etc. I would love to have a meeting with Steve Clark and go over some ideas.

While I was unaware of what TechColumbus and Omeris were prior to our visit, I received great detail about TechColumbus and how it thrives in the business world. With my business background in accounting, the TechColumbus presentation brought nothing short of nostalgia. I really felt as if I was back in class at the Fisher College of Business here at Ohio State. While I understood all that he spoke of, I have already become quite familiar with the business strategies championed by TechColumbus. However, the term ‘incubator’ is new to me in the context of business start-ups and the spokesperson conveyed in detail how they operated. It is good to see risk-oriented companies like TechColumbus giving technology-based companies a chance in the market.

The presentation by the Omeris representative was very insightful. This was my first exposure to bioscience advocacy in Ohio funded by the state. The example mentioned during the presentation regarding job placements for Pfizer employees in Michigan truly proved Omeris’ dedication to the well-being of bioscience professionals. Should I or future co-workers decide to embark on bioscience job opportunities in Ohio, I will definitely think of Omeris for assistance.

"What I learned from the presentation on Tuesday is that TechColumbus is a mixed incubator. Essentially, its role is to aid in the start up process of new companies. The companies designated to be a part of the incubator already have the technology and the basic idea worked out. All they need is guidance concerning how to run a business in the real world. This is what Tech Columbus provides. Basically, the incubator provides the start up companies with funds in order for the company to get settled and out of the incubator facility and into its own. There is an 80% success rate if a company starts at Tech Columbus. What I found most interesting is that if a company wants assistances at the incubator, it pretty much has to have everything already planned out and a pretty solid start. In other words, the purpose of the incubator is not to do everything for the company, but only to assist it in basically leaving the incubator as a successful business."

TechOhio is part of a broad program funded by the state of Ohio and private member organizations including Ohio State university designed to perform essential incubator functions for biotech startups. It is designed to move the fruits of research and researcher's ideas into the marketplace.

Although the program only has a budget of $600,000 per annum, the organization does a lot. The Columbus TechOhio (it is only one of many incubators near major research campuses) performs the functions of advocacy- where it informs law makers of its usefulness- and the function of offering startups a business critique of its situation. Oftentimes when a startup (an incorporated company not just a guy with an idea) comes to Techohio, Steve analyses the business side of the startup such as its prospects, the product market ,etc. and decides whether to accept the startup into the incubator. If he does accept the organization (10% of the time), the organization sometimes receives grants of up to $100,000. The startup also gets to rent a place in the incubator facility at a reasonable price and gets access to angel investors, important visitors that come by, and free business consultation from Steve and the other people. If all goes well and the startup meets the goals set by Steve, the startup will have 'graduated'. Oftentimes after graduation, a VC acquires it. 80% of all companies that graduate from the incubator survive. This is contrasted with the statistic that 80% of all biotech startup companies outside the incubator fail. Because the organization did so well, the state of Ohio has recently increased Techohio's budget from $600,000 to 7 million dollars.

My opinion of this program is that it is helpful and a wise use of money spent. Oftentimes a startup does need business advice and critique, access to capital, and other functions that the incubator provides. I think from the data presented, the incubator makes sense because for every dollar spent on it, it facilitates 72 dollars in biotech revenue, the majority of which creates jobs. I hope that one day one of us will have an idea worthy of the incubator.

Omeris is a biotech company that is funded by the state every two years and by its membership. Omeris acts as a mixed incubator that currently houses 26 smaller companies. People come to the company to pitch their ideas and offer a scientific proposal, but most just come looking for money. We were told that most of the companies that are just given the money will fail. The companies that do get accepted will stay with Omeris for an average of 7 years and 80% of them will succeed once they have left Omeris. There was a wide variety of companies, (including one that was working on a black box for boats), that fall into one of three categories: biosciences, materials, or IT.

The tour was very informative but I was disappointed at the fact that it was mainly a business lecture. It was beneficial for those that perhaps want to start their own biotech company in the future. Overall, it would have been better if it was more oriented towards the science aspect of things. It was amazing to see such a large variety of companies with new and inventive ideas.

I enjoyed the tour to Omeris BioTech company, a non-profit economic and technological organization, which includes Biosceince companies, material companies, and IT companies. Omeris BioTech company main functions are networking, marketing Ohio's collaboration and partnership opportunities, advocacy (stem cell research, and human cloning), work force, and international and national company attraction. Omeris BioTech company believes that the barrier to success is not technology, but money, leadership and partnership, who and why will buy the products may be barriers to your company success. So, Omeris BioTech Company understands and knows your company weakness and reasons of your failure, and it can provide you with the advices on how to make your company successful.

I liked the fact that the company works with and connects industry, research and education together. It's so nice to know that you can apply your basic science background to industrial needs that may take you to many areas of your study besides learning other useful techniques you haven't studied at university. I liked that you can rent an office or/and a lab with every thing you need to work beside being able to connect with other people/companies and get benefits from their experiences. It's kind of the great benefits I got from Dr. Suo class (Biochem 521) where I with a Molecular Genetic background worked in the lab with a partner with a Biochem background to do different advance Biochemical and Molecular Genetic experiments, and I felt that we complete each other as one was good in some areas, and the other was good in other areas. I believe that it’s always good to work with people who have different background.

I was able to see a special membrane looks like a piece of tissue that can be added to the water or in the air for purification, disinfection, and elimination of smell, which was so cool and a very useful product. As a molecular genetic student, I wish that we spent more time checking labs, and see different products. I don't mean that I need to know what procedures the companies use or what substances in the products. What I really wanted to see is the different products produced and their uses in our lives in order to give me some ideas on how far the technology can take you and make your life easy and healthier.

After visiting Omeris BioTech Company, I will definitely visit Dubai BioTech Company in UAE to apply for a job after I graduate. I thank you for your time, all the information you provided us, and a nice tour to Omeris BioTech Company.

From a scientific perspective, the tour of Omeris wasn't very informative, but it was very helpful if we were thinking of starting our own companies. I learned that having an ingenious idea, however good, isn't going to be of much use without knowing how to market it. The exact production method must be known, as in the technique whatever service you are planning to offer must be understood and realistic. The buyers for that product must be found as well. 2000 years ago, someone discovered the steam engine, but no one cared for it and the technology was lost. Similarly, your technology may be amazing, but if no one wants it, it isn’t marketable. Also, starting a business takes time and money, one of which you may be able to give, the other not. You must convince investors that your product will be successful, and one of the key providers is the government, at least in the beginning, meaning that to at least a small extent, they do control what kind of research is done. Finally, the ability to acknowledge that you may fail in your attempt is needed to be able to start another company when you have a new better idea.

We had the opportunity of visiting Omeris BioTech Incubation Company. I thought that this was a valuable experience since I was not aware of such a Program. There we saw and heard about how the new companies are incubated till they grow up to their full potential. It was interesting to hear about the qualification criteria for the new companies to be incubated and the services that are provided. We were also informed about funding and investments related to the program. Even though this experience was informative, I was expecting more specific information about the Biotechnology there. It also would have been helpful to see some of the labs and technology provided to the Biotech companies. Overall, I am glad to have visited the incubator and received information that might help in the future.

Omeris is a business incubator which is funded from two different sources, the state and private membership. There are three major classes of companies which Omeris incubates; bioscience companies, materials companies, and IT companies. The bioscience organization in the company helps move technology towards the marketplace. Omeris would take a new idea or technology and use its own superior business concept to try to get the product into the market scenario and move the business to the next level of self sufficiency. Omeris is a non-profit organization whose main goal really is to help build industry, research, and education for bioscience. Its attraction package to potential clients is a location to set up a business, access to a potential workforce, and access to meet influential people in the field. For its private members, Omeris offers networking, marketing, advocacy, national and even international company attraction. Steve stressed to be a business in the incubator you have to meet certain milestones they set out and most importantly play by the rules - and once you get to the next level of capitol you are out of the incubator. He explained Omeris is not all about discoveries, but is mostly influenced by what could sell, but even with its restrictions it offers the first level of capital for the daunting task of starting your own business.

I enjoyed the tour but as the other students said I too was perturbed about the level of finance and investment discussion. Not only that, but he repeated those things and a lot of stuff about the business aspects over and over.

The trip to Tech Columbus was very eye-opening and educational. The whole concept of the incubator was new to me, and the fact that over 20 small businesses were all operating in the same facility is very interesting. For anyone trying to start a business in the biotech industry, the incubator seems to be a very good and successful way to go. With the nearly 80% success rate and the staff of Tech Columbus and organizations like Omeris within constant contact, a lot of the headaches of starting a business disappear. For one, those with the tech background but with no business experience can get all the advice and guidance they need to be able to succeed as a business. The two most important things seem to be training/finding CEO’s and other executives to handle the business end and also the contacts that can be made with investors and other companies in the same industry. Therefore, all one has to have is a good business concept or product and have thought out a few of the details and sought initial investment and potential marketability questions. Once they have the initial design, they can approach the incubator who if they decided they have a good idea will formulate business plans, help build a company infrastructure, contact initial investors, and most importantly offer facilities that are ready-made to begin a business. One of the major headaches of starting a business is finding office space and turning that office space into an operational facility while making sure the space is large enough to account for initial expansion, since facility changing will prove very costly down the road. By using the incubator, they get an operational facility off the bat and can stay there until they have grown to a legitimate business and can then in a one stop shop, find an appropriate facility outside of the incubator. One thing that the entrepreneur needs to have on their own is the scientific/tech side of the project completely figured out from the original idea or product, to ways of mass producing/creating the optimal product. The incubator seems to offer little help on this side and takes on companies that have a well thought out plan in this aspect. However, the entrepreneurs can focus on that side and allow the incubator to help on the true business end, which allows for better allocation of time and resources in the move to become an independent company. The turnover rate of companies needing to meet milestones to be able to remain seems an interesting concept. Ideally it would make sense for the government to help out the marginal or novel groups that have great potential but are far away from anything concrete than the ones that will be successful either way, but the allocation of resources remains thin. Therefore, the incubators have to choose companies that will do well with those resources so they have to cherry pick. With the new allocation of funds to the incubators increasing nearly 700% in the next few years, the incubators should be able to go after companies or recruit from the academic field to start moving into directions that can be potential goldmines in terms of jobs for Ohio. After seeing the incubator, it seems to be a wonderful way to grow your business, and is a route that I personally would seriously consider when starting a biotech business. It was a good experience to learn what the government is doing to help stimulate business growth with hands on approach, and the success of the plan. It was also interesting to see and hear the projects they were working on during the quick tour, especially the non invasive glucose monitors and the sailboat black box.

As perceived by me, Techcolumbus is a non profit making organization of technology based companies in the central Ohio region. It aims to support new upcoming companies to run their organization properly by providing them not only monetary support but also managerial support to the organization until the organization is strong enough to manage on its own. It provides the new ideas a platform to materialize into actuality if the idea is really novel as well as feasible. They provide the new companies with room where they can start their lab or workshop.

I learnt a lot from this visit to the biotech company as in who to approach and how to approach if I wish to start my own company some day. It gave an idea as how difficult it can be to get a financial loan if the business idea was not really an original one, though they always encourage people coming up with new ideas. Another thing which I liked about it was that if I have a new of a kind idea but not enough of investment, this organization can help me meet interested people who will be ready to collaborate with my idea and their investment to start a new company.

My expectation from the visit was to learn what sort of ideas people come up with while starting a new biotech company. What are the products which one can expect from a biotech company. If I were to start a company where my products would believe cells or biological products, what will be the restrictions and limitations. If I were to start a company using hazardous chemicals what should be the chance of my idea being encouraged. These were the certain question which I had but were not really answered. But still I appreciate this visit as it gave us an idea of how to start and who to go to.