Liftstream is an executive search recruitment company in the life sciences sector
Biotech clusters are big business. They attract investment, spur innovation and create economic prosperity for the local economy, let alone the bragging rights that come from market superiority. In the United States, Boston in Massachusetts and the Bay Area in California, duke it out annually for the accolade of top life science cluster. Unquestionably though, what is happening in Boston right now is nothing short of remarkable and the gravitational pull of this bioscience ecosystem is attracting companies from across the globe.
When we look at these clusters, we look for the winning formula – the template that will translate ambition into reality, in the way Boston has managed to. How can we emulate that success? Well, the truth is, the success of a bioscience cluster is driven my multiple factors, the more prominent of which are; scientific research, access to capital, investment environment, infrastructure and resources, and human capital.
So while Boston reigns superior and San Francisco tries to regain top spot, we wondered about the other pretenders to the crown. In particular, that of San Diego, a highly ranked cluster (often 3rd) which offers something different from these current ‘super-clusters’.
For this reason, we took a deeper dive into the San Diego biotech cluster and we did so from the knowledge base that we possess, which is human capital and executive leadership. We wanted to look at what public biotechnology companies (44 in total) looked like in terms of their CEO leadership and the board of directors which govern them.
Nominations Committees’ Resolutions Series: #2- Board Effectiveness Calls for Recruitment Professionalism
Board appointment processes are often heavily influenced by people’s personal and professional networks, making it difficult to deliver a truly objective and balanced process. Sometimes, the recruitment becomes solely a matter of “who you know”? Due to the increased complexity of the corporate world and the professional vocation of directorships, Liftstream believes a clearly-structured recruiting process can be constructed, with a forward looking view for the business needs, to attract and recruit board members who will enhance the effectiveness of the board.
The New Year brings a period of reflection, what will you change in the year ahead and how will you do it? There are some clear ways in which the effectiveness of the board can be improved by the way in which the nominations and governance committee discharge their responsibilities. Here we listed 5 resolutions for an effective nominations committee. Click the following links to read detailed articles on each recommendation.