WEBVTT - Boston Chamber's Singh on Boston's Thriving Tech Scene (Audio)

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<v Speaker 1>This is a Bloomberg Business Flash from Bloomberg World Headquarters.

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<v Speaker 1>I'm Charlie Hadleton. That's a Bloomberg Business Flash. You're listening

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<v Speaker 1>to Taking Stoff with Kathleen Hayes and Kim Fox on

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<v Speaker 1>Bloomberg Radio broadcasting live today in Boston. Tonight, the Greater

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<v Speaker 1>Boston Chamber of Commerce will hold its annual meeting. More

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<v Speaker 1>than fift businesses of all sizes from virtually every industry

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<v Speaker 1>in profession, nearly two thousand people, many of them some

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<v Speaker 1>of the brightest lights of the Boston business community. Joining

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<v Speaker 1>us now is not seeing he is the Chair of

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<v Speaker 1>the Greater Boston Chamber of Commerce. To talk to us

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<v Speaker 1>about the event, also about the Boston tech and biotech scene.

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<v Speaker 1>Not leaves, the Mackenzie Boston office and their work in

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<v Speaker 1>innovation within the Strategy practice, and so much more. Love,

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<v Speaker 1>welcome and thank you for having us here. You're welcome, Via,

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<v Speaker 1>happy to have you here. So a year as the

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<v Speaker 1>chair of the Greater Boston Chamber of Commerce, What's what's

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<v Speaker 1>on your gender now? What? What is the message? Tonight?

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<v Speaker 1>Has so many people gather together to celebrate Boston business.

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<v Speaker 1>We've been focused on three things. One is to engage

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<v Speaker 1>our membership and to be able to diverstif it. Number

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<v Speaker 1>two is to be able to think big and focus

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<v Speaker 1>on a few big initiatives. And a third one is

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<v Speaker 1>to focus on one business voice. There're enough business group

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<v Speaker 1>in this area and we want to collectively have one

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<v Speaker 1>business voice. So those are the three consistent things have

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<v Speaker 1>been focused on. Can you give wrap some numbers around

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<v Speaker 1>all that, because I know Boston itself has about six

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<v Speaker 1>hundred and fifty five thousand people as population, but you've

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<v Speaker 1>got to go much further out in some cases as

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<v Speaker 1>many as eight million people in the in the greater area.

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<v Speaker 1>Tell us some statistics about what Boston is first in.

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<v Speaker 1>So number one, we are three hundred eighty billion dollars

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<v Speaker 1>worth of GDP that would rank us as a top

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<v Speaker 1>thirty country in the world. That is a skill that

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<v Speaker 1>we're talking about. Three hundred and eighty billion dollars, Okay,

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<v Speaker 1>So I think that to me should raim it for

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<v Speaker 1>most people. And then we have rapid growth happening across

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<v Speaker 1>the board. If you look at the unemployment rates that

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<v Speaker 1>at a record law. We have amazing educational institutions out

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<v Speaker 1>here with great students coming out, So in terms of numbers,

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<v Speaker 1>a lot of money coming in, with a lot of

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<v Speaker 1>money coming in. Because I think when people talk about

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<v Speaker 1>growth as to why are things growing out here? Because

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<v Speaker 1>they wonder why Spikeder growing out of why height growing

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<v Speaker 1>out here? I would say three things. People were always there.

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<v Speaker 1>We have fantastic institutions out here. They were always there.

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<v Speaker 1>They're getting better by the day. Number two is investments

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<v Speaker 1>to a point, more and more investments are coming in.

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<v Speaker 1>And the third is the environment. If you go out

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<v Speaker 1>to Cambridge, you've got to get to the Kendle Square.

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<v Speaker 1>The amount of excitement you feel you go from one

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<v Speaker 1>block to the other. The number of companies that are

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<v Speaker 1>out there are cool. Look at Boston, look at Waltam.

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<v Speaker 1>There are innovation communities popping up. I was just going

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<v Speaker 1>to say in finance, just to give you a mean

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<v Speaker 1>Fidelity State Street, and then the headquarters of Santon their

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<v Speaker 1>bank are right are here, and here in Boston is

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<v Speaker 1>moving right here. Bexalta moved over. They've got a quite

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<v Speaker 1>a shire, but they moved right over here. So people

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<v Speaker 1>are moving. I moved here four years ago for that reason,

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<v Speaker 1>because I'm in biotechnic life sciences and this is the

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<v Speaker 1>place to be. Well, of course you are prior to

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<v Speaker 1>Johnny mackenzie, you lead the practice here. Now you're the

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<v Speaker 1>uh here in the Boston office. They say, since for

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<v Speaker 1>four years, uh, your laboratory manager at General Electric, you

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<v Speaker 1>helped design manufacturing processes, developed new polymetric materials and NONO materials.

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<v Speaker 1>You're passions life intersection of science, engineering, medicine and business.

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<v Speaker 1>So perfectly situated the biotech scene in Boston. How do

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<v Speaker 1>you describe it? How big is it gotten? I know

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<v Speaker 1>what we were talking about for the show. You just

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<v Speaker 1>mentioned that it's not just big or small, it's all

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<v Speaker 1>kinds of businesses here now. So most pharmacyical companies are

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<v Speaker 1>moving their innovation headquarters in some farmer shape out to

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<v Speaker 1>They at least have a presence out You will quote

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<v Speaker 1>on a list of top twenty. I mean you see

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<v Speaker 1>how here you mean Boston in this brodery, Boston, Cambridge, Waltham.

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<v Speaker 1>You just walk down and you will see them. So

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<v Speaker 1>almost every major player has a presence out there. If

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<v Speaker 1>you look at the biotex sing there are probably hundreds

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<v Speaker 1>of biotics and not thousands of biotex out here. If

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<v Speaker 1>you look at what mass bio is doing, Uh, there

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<v Speaker 1>are enough biotex out there coming from great academic science.

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<v Speaker 1>We have some fantastic research going on. Venture capitalists and

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<v Speaker 1>moving in. They are partnering with academia to be able

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<v Speaker 1>to create compound companies. And what Large Farm and others

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<v Speaker 1>of finding is that they want to source innovation. This

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<v Speaker 1>is a place to be because the small biotex are

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<v Speaker 1>the ones that lead to so many the big, big

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<v Speaker 1>products and big break both big and small. I would

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<v Speaker 1>say its people right. It's about professors who are doing

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<v Speaker 1>fantastic research. It's about an ice at US coming in.

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<v Speaker 1>It is about venture capital being there to help create

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<v Speaker 1>the businesses, and it's about farmer being there to partner

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<v Speaker 1>with them in a holistic way. It's an ecosystem, which

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<v Speaker 1>is what it's fascinating. Glad you mentioned people, because I'd

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<v Speaker 1>like just to comment on one person in particular, Jim Rooney,

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<v Speaker 1>and how he in many ways exemplifies what has happened,

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<v Speaker 1>particularly in this area of sal Boston, and I wonder

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<v Speaker 1>if you could just speak to those accomplishments and how

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<v Speaker 1>they come together at the Chamber. So Jim Rooney, it

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<v Speaker 1>has been a pleasure to work with him over the

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<v Speaker 1>last year I was involved in the search, and I

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<v Speaker 1>would have been thrilled by what he has been doing.

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<v Speaker 1>He knows the political scene extremely well out here, is

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<v Speaker 1>very well connected. He knows everybody out here in some

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<v Speaker 1>form of shape. Our membership is growing, we are diversifying it.

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<v Speaker 1>Jim Browney is a known name. He has an amazing

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<v Speaker 1>communing power. He can pick up the phone and call

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<v Speaker 1>most people. One of the things we've been trying to

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<v Speaker 1>do is that the Chamber is a place where we

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<v Speaker 1>help each other. If you go back to the history,

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<v Speaker 1>the Chamber is almost hundred years old, and if you

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<v Speaker 1>go back to White was formed, it was for the

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<v Speaker 1>members to help each other. And Jim Rooney and the

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<v Speaker 1>and his friends have the connections out here to get

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<v Speaker 1>us to anybody. So I think that's one big, big thing.

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<v Speaker 1>Number two, we have taken around twenty policy positions together

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<v Speaker 1>as one business voice, and that needed the connectivity, the

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<v Speaker 1>connections and Bunnias provided that. Uh. And it has been

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<v Speaker 1>a pleasure to work with him. Just a wonderful guy.

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<v Speaker 1>And it has been a pleasure to work with him

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<v Speaker 1>over the last year. And I look forward him anymore. Well,

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<v Speaker 1>it's a pleasure to have pleasure. And we're going to

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<v Speaker 1>see you to see him tonight, not sitting at the

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<v Speaker 1>dinner and UH a good friend of your another Boston

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<v Speaker 1>Bright Light President, chairman of Sparta Groups being honored by

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<v Speaker 1>the Boston Chamber of Commerce. I just said, lunch with him,

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<v Speaker 1>and he's amazing, guys, to be a throat. He's gonna

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<v Speaker 1>be on the show with us too. Excellent. Thank you, fun,

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<v Speaker 1>Thank you guys, perhaps saying naps. Seeing managing partner at

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<v Speaker 1>the mckensey Boston office and Chair of the Boston Chamber

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<v Speaker 1>of Commerce, the Greater Boston Chamber of Commerce meeting here

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<v Speaker 1>tonight in Boston. Mary Mcpharmaceuticals, a Boston biotech leading the

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<v Speaker 1>fight against cancer. We're gonna find out about the latest product,

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<v Speaker 1>product products, and where they're heading next, right here in

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<v Speaker 1>Boston on Bloobrig Radio.