Portfolio

Greater Baltimore Committee regional media pitch (2007)

Maryland’s young bioscience industry is growing up. In the past 10 years, the number of bioscience companies in Maryland has grown from 218 to 407 and private bioscience employment grew from 14,000 to 23,000.

Venture capital for biotechnology is growing too. According to a report by PricewaterhouseCoopers, Thomson Financial and the National Venture Capital Association, in 2007, 180 Washington and Baltimore companies received nearly $1.3 billion in venture capital – making this region the nation’s fifth fastest-growing area for venture capital funding in the last decade.

But, despite the presence of a few large companies such as MedImmune, BD Diagnostic Systems, and Martek, Maryland’s bioscience industry is still mostly small firms in earlier stages of growth that are not yet turning a profit. Two thirds employ less than 10 people.

And growth is what venture capitalists are looking for. Many investors are reluctant to pour money into early stage, unproven research. However, without adequate funding small bioscience firms cannot convert their research into later stages of development, and ultimately, a potentially life-saving drug or treatment.

Although venture capital in the region has grown exponentially, the Maryland bioscience industry has yet to see major investment from global venture partners like New Enterprise Associates (NEA). Aside from a handful of success stories, a majority of small bioscience firms are often overlooked as viable investments.

It’s the new bioscience companies that are taking all the risks. These researchers put their careers – and personal finances – on the line, leaving the security of a top-rated research university, in a hope that their gamble will pay off.

The state and private sector needs to offer support to these companies, including tax incentives, seed and venture capital, access to patents, and business mentors.

If you would like more information on the importance of venture capital funding to small bioscience firms in the area, or on bioscience public policies the GBC supports, I can set up an interview with our president and CEO, Donald Fry.

Donald C. Fry is president of the Greater Baltimore Committee, an organization of business and civic leaders in the region that supports efforts to strengthen the region’s bioscience industry.

Imre Communications firm client pitch to national magazines (2004)

Thanks for taking the time to speak at the recent PRSA Annual Chesapeake Conference. I enjoyed hearing your Top 10 list of good PR… I hope I’m following the rules!

I’d like to pass along a story idea…

In an annual rock concert safety survey of 31 concerts and festivals worldwide, at least 20 people died and over 4,567 were injured. The 2002 survey, conducted by Crowd Management Strategies, also recorded over 2,683 arrests/citations and more than $542,000 in property damage.

In addition, the survey found rap concerts to be the most dangerous and rock concerts the most reckless. And with the E2 club and Great White fire tragedies in early 2003, it seems music concerts are only getting more dangerous.

More and more musical groups are increasing the special effects and intensity of concert performances to enhance viewer entertainment as they compete for audience share. And this new trend has driven up insurance costs.

A few insurance companies understand this difficult situation. One such resource is St. Paul Travelers (with one of its largest branches in Baltimore). A leader in the entertainment insurance industry, the company services thousands of well-known musical artists.

Jon Paulsen, chief underwriting officer and head of the Entertainment business unit at St. Paul Travelers, is one of those behind the scenes experts who assesses the risks associated with these productions and at times make recommendations to increase safety. He can offer suggestions for rock acts, business managers, and give an inside look at how these complicated and sometimes dangerous shows are insured.

Please let me know if you are interested in talking to Jon or learning more.

Imre Communications firm client pitch to national financial magazines (2004)

Did you know that employee dishonesty has gotten worse, not better? Over $660 billion is lost to employee theft, according to the Association of Certified Fraud Examiners (ACFE) 2004 report on Occupational Fraud and Abuse claims. That’s nearly a ten percent increase – or $60 billion – from 2002.

And contrary to conventional wisdom, the CEO may be more of a threat than the guy stocking the shelves. While executives only account for one in four thefts, the 2004 ACFE report found companies’ losses from owners and executives to be more than 14 times as high as employees.

Would you be interested in a byline article about how a company or organization can detect and prepare for a six percent loss in annual revenues due to employee theft?

Cary Meiners, an expert in Financial and Professional Services at St. Paul Travelers, has identified five ‘red flags,’ which can lead to increased employee dishonesty. They are:

• Fast growth – leads to a lack of control as companies create multiple locations and satellite offices.
• Mergers and Acquisitions – causes discrepancies with internal controls between the merging companies.
• Use of outside vendors – can lead to improper billing and sometimes fictitious vendors.
• High value inventory – higher priced retail entices employees to steal.
• Travel – padded expenses, such as phony dinners and cab rides.

Cary Meiners can author an article or if you’d like to interview him for one, we can arrange that as well. He can discuss details about each of these ‘red flags’ and discuss risk mitigation. Please let me know if you are interested. Thanks.