Investing in Utah’s

Future

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WelcomeApril 28, 2006

‘Tackling the Talent Challenge’

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Announcements

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Pat Vaughn

Talent Access Programs (TAP)

Governor’s Office of Economic Development

goed.utah.gov

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Economic Revitalization Plan

1. Revamp Utah’s Tax Structure 2. Improve the Competitive Environment for  Small & Medium-

Sized Businesses 3. Recruit Business to Our State 4. Attract More Capital 5. Promote Growth In Target Industries 6. Capture Global Opportunities for Utah Companies 7. Enhance Utah’s National & International    Image 8. Promote Tourism 9. Energize Economic Development In Rural Communities 10. Make State Government More Efficient

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Hiring Climate

Hiring Climate

Today’s Hiring Climate

• Panel of professionals

• Look from 10,000 feet

• Hear various aspects

• Gain understanding of the challenges ahead

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Panel

• Dr. Tamara Goetz

• David Spann

• Dennis Wood

• Lorina A. Tester

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Dr. Tamara Goetz

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Utah Life Science Industry

Meeting the Workforce Challenges of a Growing Industry

Challenges for Growing the Utah Life Science Industry

• Meeting workforce demands– Existing companies– New start-ups

• Responding to changing needs– Laboratory technician– Biomanufacturing technicians

• Creating a diverse workforce– Multiple entry/exit points– Dual training

Investing in Utah’s “homegrown” talent

Bridging Education and Workforce Development

Academic Training Program

Workforce Development

InnovaBio

•2-year Biotechnology degree•Theoretical•Technical

•Industry-based research•Innovation•Entrepreneurship•Mutual added value

•Industry demands met•Competitive students

The Return on Investment

• Academic program– 42 college graduates– >600 high school students– 4-year partnerships – Biomanufacturing track

• InnovaBio– 7 contracts– 50 interns– Replication– Student innovation and entrepreneurship

David Spann

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Agile Adaptive Managementtranslating innovation into business value, quickly

• Snowbird 2001: Agile software development begins

• Westminster College 2002: first Agile conference

• MBA Director, consultant to UITA, ULSA, CAM and Executive Coach

• Agile Adaptive Management 2006: helping organizations, executives and teams translate innovation into business value, quickly

• UITA Management Research Project 2004

2004 UITA Management Research Project

Ability and Effectiveness to Develop, Retain and Attract Management Talent

in Utah's Technology Sector

(1 is low, while 10 is exceptional; Scores are Median: 1/2 above and 1/2 below)

Developing Retaining Attracting

Importance 9 9 9

Effectiveness 5 8 6

Note: David Spann was with the Ralston Consulting Group when this research project was conducted.

A Forester’s View of Retention

Experience Lasts

Dennis Wood

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Tackling the Talent ChallengePresented by Dennis Wood

Venture Capital is Risk Management

Deal/ Company Structure Risk

Market Risk

Technology Risk

Management Risk

“The right leadership and ‘gene pool’ is the most important thing to a company’s success. The CEO’s thirst for talent and his (or her) salesmanship in recruiting talent and building teams are key to determining the future of the company.”

-Vinod Khosla, KPCB

Management Risk

Candidate Aggregation

•Partners, LP’s, Advisors, Portfolio Executives•Venture Forums, Universities, Tech-

vSpring Talent Database

transfers, Service Providers, OtherVC’s & Companies, etc.

Candidate Dissemination vSpring Portfolio & Future Investments

CRM Database, Director of HC

•Firm Initiatives

v|Spring Human Capital Strategy

Lorina A. TesterAssociate General Counsel

University of UtahInternational Center

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Program Pause

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Q & A

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THANK YOU!

www.goed.utah.gov

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Investing in Utah’s

Future