Economic growth would result if Rhode Island – both publicly and privately – were to invest more directly in the groundbreaking ideas generated by the state’s biomedical sector, said U.S. Rep. Patrick J. Kennedy, D-R.I., during “Best and Brightest Forum on Medical Innovation,” a forum held Monday morning at Brown University.

“Rhode Island creates ideas, but investment banks take them to other states,” Kennedy said. “We need to own our medical innovation in order to create jobs here.”

Kennedy is working on a proposal to rearrange how the federal government funds biomedical research, trying to make the system less fragmented. But local money is crucial, too, Kennedy said, and while the Slater Technology Fund is doing a good job, it’s not enough.

Full Story: R.I. urged to better support biomed R&D Source: Providence Business News, December 14th, 2009 Author: Marion Davis Added on December 15th, 2009 at 1:37 pm, by Matt Mikula