"Bioscience is one of the driving forces in Cleveland," said Baiju Shah, president and CEO of BioEnterprise. In case you need hard numbers to back up that claim, Shah noted that more than 600 healthcare related companies exist in the region.

Shah served as moderator for the 4th Annual Summit on Leadership, which was presented on March 10 by the Cleveland Business Leaders Committee of the Union Club.

What does Cleveland have that innovators in biomedicine and healthcare seek? According to Hiroyuki Fujita, founder, president and CEO of Quality Electrodynamics (QED), it's the established presence of top-notch healthcare, research and educational institutions. "Cleveland is known throughout the world in the healthcare industry," he said. "With major players like Cleveland Clinic, University Hospitals and Case Western Reserve University, it's a one-stop shop."

Backed by this level of support, entrepreneurs, inventors and researchers feel confident developing technologies and creating start-ups in Cleveland. "The surgeons at the Clinic take time to work with medical companies," said Patrick McBrayer, president and CEO of AxioMed Spine Corporation. "I have never seen a more nurturing group."

Gil Van Bokkelen, chairman and CEO of Athersys, Inc., agreed. "Cleveland is a good place to establish a company and get things started. There's a lot more energy here than I anticipated."

And there's potential for much greater growth in the next 10 to 15 years, according to Geoffrey Thorpe, founder of NDI Medical. "People are leaving California for the first time, which means there's an opportunity for the Midwest to be competitive."

Sources: Baiju Shah, Hiroyuki Fujita, Patrick McBrayer, Gil Van Bokkelen
Writer: Diane DiPiero