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BioMed SA seeking greater investment to boost city’s leading industry
June 22, 2015

BioMed SA Chairman Kenneth Trevett says the Alamo City organization will look to double its budget as it expands efforts to attract, retain and expand bioscience businesses. (Photo by Lyndsey Johnson, San Antonio Business Journal)

By W. Scott Bailey, San Antonio Business Journal

BioMed SA, established to promote and grow San Antonio's bioscience industry, turns 10 years old this year. And its leadership is looking to celebrate by expanding the organization's ability to grow the sector and to raise the city's profile nationally and internationally.

BioMed SA was founded in late 2005 by former Mayor Henry Cisneros and the San Antonio Chamber of Commerce. The nonprofit group, which is supported in part by the City of San Antonio, has an annual budget that might seem modest to some tech-driven markets at about $550,000 annually.

That limited budget has not prevented BioMed SA from taking on some critical projects. For example, the organization helped attract and support the World Stem Cell Summit, which was held in San Antonio last December.

In 2009, BioMed SA was instrumental in helping recruit Medtronic, which expanded its diabetes business to San Antonio during the height of the national recession.

But BioMed SA President Ann Stevens said the organization is preparing to take a "major step forward" as it pursues more bioscience opportunities for the nation's seventh largest city.

BioMed SA Chairman Kenneth Trevett said that will require greater resources.

"Our goal is to double the budget over the next 18 months," Trevett said. "We are at the beginning of our revenue enhancement process, so no new funding has occurred. However, we have approached several foundations and businesses and have received expressions of interest."

Trevett said BioMed SA has assisted the City of San Antonio and Bexar County in business attraction, retention and expansion, while working to raise the "collective visibility of the entire sector around the nation and world." He added that the organization will look to expand those efforts.

 

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