Commentary - Does St. Louis Understand What It Already Has?

Vijay Chauhan, Global Lead at BioSTL

I recently had the opportunity to hear Vijay Chauhan, Global Lead at BioSTL, speak to Progress 64 West. I walked away with a question:

Does St. Louis really understand what it already has?

Most of us know the names—Washington University, our major healthcare systems, agricultural companies, research institutions and some of the startups emerging across the region.

But what I’m not sure we fully appreciate is what happens when those assets are deliberately connected.

That is the BioSTL story.

BioSTL describes itself as the backbone of the region’s bioscience ecosystem—aligning institutions, startups, industry, investors and global collaborators to accelerate innovation. Its work includes starting and growing bioscience companies, attracting innovation from around the world, developing the workforce and elevating St. Louis’ global reputation.

And the numbers Vijay presented got my attention.

Through BioGenerator Ventures, more than $51 million has been invested in St. Louis companies, helping attract more than $2.94 billion in follow-on capital.

Perhaps even more important: 84% of that capital came from outside St. Louis.

Think about that for a moment.

That isn't simply supporting startups. That's bringing outside investment into our region, creating companies and connecting St. Louis ideas with investors around the world.

Then consider what surrounds it.

St. Louis already possesses an extraordinary concentration of healthcare systems, medical research, payers, pharmaceutical-benefit management, agriculture and AgriFood companies. Vijay's presentation makes the case that St. Louis is both a globally significant healthcare and AgriFood hub.

And BioSTL is increasingly connecting those assets globally—including bilateral healthcare and AgriFood relationships that bring international innovators into the St. Louis ecosystem.

That's economic development.

It also raises a larger question for those of us who care about the future of this region.

Are we spending too much time talking about what St. Louis lacks and not enough time connecting, supporting and telling the story of what we already have?

Our geography hasn't changed. We're still sitting in the middle of the United States.

But perhaps being in the middle isn't a disadvantage. Maybe it is an opportunity to become a connector—between coasts, industries, universities, healthcare systems, agriculture, entrepreneurs, capital and increasingly, the world.

There was intentional leadership behind creating this ecosystem, and that work continues today.

I left Vijay's presentation believing more people in our region need to understand it.

Because before we go searching for the next great economic-development idea for St. Louis, we might want to take a closer look at one that is already here.

The opportunity may not be creating something entirely new. It may be recognizing what we have—and getting much better at connecting it. - RP