The MCA BioMedical Institute of the Americas is a new entity developed through a rigorous analytic and collaborative process to enhance the flow of biomedical science to innovation, innovation to solution and solution to marketplace in the Paso del Norte (PDN) region. The Institute will be housed in the MCA Tech Building, a new building that will anchor the 12-acre MCA Biomedical Technology Park in the MCA campus in El Paso. >>more about the tech park and building
Stakeholders across the PDN region agree that this new Institute will be a biomedicine-focused “economic engine” for the region. The MCA strategy that guides the structure of the MCA Biomedical Institute of the Americas will deliver solutions at the three focal points along the “innovation pipeline”:
- Discovery—Translational Research Collaborative: A new regional collaborative that will generate biomedical innovation that has well-defined "bench to bedside" potential.
- Development—Incubation Center: A regionally-focused capacity to identify, screen, package and develop biomedical start-ups building on translational research results.
- Deployment—Competitiveness Group: An intensive program concentrating on growing, expanding and attracting biomedical companies in this region, including providing a broad clinical trials infrastructure.
Biomedical Institute of the Americas: Organization
The PDN region needs more than individual programs to foster biomedical industry innovation and growth. An integrated organizational structure is needed to deliver the necessary outcomes. The MCA Biomedical Institute of the Americas will have the following features:
- The Institute will help accelerate the growth of biomedical innovation-driven economic development in the PDN region by supplying three key inputs: translational research, technology development and cluster competitiveness.
- The Institute will be a 501 (c) 3 within the broader MCA holding company. This 501(c) 3 will provide the management for three subsidiary units described in detail below, each accessing internal MCA resources and external community assets.
- The Institute will report to its own board of directors, under the umbrella MCA Holding Company board of directors, who are focused leaders recognizing the importance of biomedical innovation to the region’s economy and its citizen’s health. The individual components will have their own advisory boards.
- The Institute will plan and manage the three core program units described below, which will report to the board. This management role will include working with board and external partners in raising funds for specific program functions. The Institute will track the performance of each unit and report quarterly to the board.
Expected Outcome: Biomedical Industry Growth and Enhanced Regional Health
Today, the PDN comprises perhaps 100 companies, many of whom have 10 employees or fewer. The biomedical industry in the broader El Paso metropolitan area currently generates $209.7 million of sales. Industry cluster transactions with other businesses generate another $50.4 million of sales within El Paso County. Consumer spending by the biomedical cluster workforce expands El Paso County’s economy by another $58.1 million. Consumer spending among the biomedical cluster workforce generates another 1,371 induced jobs. Total industry impacts within El Paso County are estimated to be $318.2 million.
El Paso County’s biomedical cluster currently employs 1,700 workers. An additional 890 indirect jobs are created by business-to-business transactions. In total, the biomedical industry cluster generates 3,961 jobs, which amounts to one percent of El Paso County’s 391,000 jobs. For all these reasons, retaining existing firms and helping them expand will have an important impact on the region’s job opportunities and broader economic base.
The MCA Biomedical Institute of the Americas will address three key challenges that are at the core of building the PDN region’s biomedical cluster to a scale that will generate further employment opportunities for its citizens and solutions to regional health issues. Through its Translational Research Collaborative, the Institute will intensify the concentration and scale of research on biomedical problems that will yield innovations for development. Through the Incubation Center, the mining, screening, preparation and case management of candidates will expand the flow of quality deals to start-up stage and seed funding. Finally, through these efforts and the Competitiveness Group activities the existing biomedical cluster will be retained and grown to a dynamic, critical mass, of new, existing and attracted biomedical companies.
Overall, MCA is committed to using the Biomedical Institute of the Americas to build a stronger and more diverse next generation regional economy while concurrently enhancing the health and quality of life of its residents.