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Boston Chamber's Singh on Boston's Thriving Tech Scene (Audio) · Bloomberg Intelligence

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  Speaker 1: I'm Charlie Hadleton. That's a Bloomberg Business Flash. You're listening
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  Speaker 1: to Taking Stoff with Kathleen Hayes and Kim Fox on
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  Speaker 1: Bloomberg Radio broadcasting live today in Boston. Tonight, the Greater
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  Speaker 1: Boston Chamber of Commerce will hold its annual meeting. More
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  Speaker 1: than fift businesses of all sizes from virtually every industry
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  Speaker 1: in profession, nearly two thousand people, many of them some
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  Speaker 1: of the brightest lights of the Boston business community. Joining
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  Speaker 1: us now is not seeing he is the Chair of
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  Speaker 1: the Greater Boston Chamber of Commerce. To talk to us
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  Speaker 1: about the event, also about the Boston tech and biotech scene.
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  Speaker 1: Not leaves, the Mackenzie Boston office and their work in
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  Speaker 1: innovation within the Strategy practice, and so much more. Love,
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  Speaker 1: welcome and thank you for having us here. You're welcome, Via,
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  Speaker 1: happy to have you here. So a year as the
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  Speaker 1: chair of the Greater Boston Chamber of Commerce, What's what's
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  Speaker 1: on your gender now? What? What is the message? Tonight?
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  Speaker 1: Has so many people gather together to celebrate Boston business.
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  Speaker 1: We've been focused on three things. One is to engage
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  Speaker 1: our membership and to be able to diverstif it. Number
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  Speaker 1: two is to be able to think big and focus
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  Speaker 1: on a few big initiatives. And a third one is
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  Speaker 1: to focus on one business voice. There're enough business group
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  Speaker 1: in this area and we want to collectively have one
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  Speaker 1: business voice. So those are the three consistent things have
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  Speaker 1: been focused on. Can you give wrap some numbers around
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  Speaker 1: all that, because I know Boston itself has about six
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  Speaker 1: hundred and fifty five thousand people as population, but you've
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  Speaker 1: got to go much further out in some cases as
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  Speaker 1: many as eight million people in the in the greater area.
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  Speaker 1: Tell us some statistics about what Boston is first in.
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  Speaker 1: So number one, we are three hundred eighty billion dollars
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  Speaker 1: worth of GDP that would rank us as a top
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  Speaker 1: thirty country in the world. That is a skill that
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  Speaker 1: we're talking about. Three hundred and eighty billion dollars, Okay,
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  Speaker 1: So I think that to me should raim it for
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  Speaker 1: most people. And then we have rapid growth happening across
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  Speaker 1: the board. If you look at the unemployment rates that
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  Speaker 1: at a record law. We have amazing educational institutions out
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  Speaker 1: here with great students coming out, So in terms of numbers,
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  Speaker 1: a lot of money coming in, with a lot of
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  Speaker 1: money coming in. Because I think when people talk about
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  Speaker 1: growth as to why are things growing out here? Because
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  Speaker 1: they wonder why Spikeder growing out of why height growing
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  Speaker 1: out here? I would say three things. People were always there.
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  Speaker 1: We have fantastic institutions out here. They were always there.
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  Speaker 1: They're getting better by the day. Number two is investments
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  Speaker 1: to a point, more and more investments are coming in.
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  Speaker 1: And the third is the environment. If you go out
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  Speaker 1: to Cambridge, you've got to get to the Kendle Square.
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  Speaker 1: The amount of excitement you feel you go from one
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  Speaker 1: block to the other. The number of companies that are
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  Speaker 1: out there are cool. Look at Boston, look at Waltam.
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  Speaker 1: There are innovation communities popping up. I was just going
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  Speaker 1: to say in finance, just to give you a mean
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  Speaker 1: Fidelity State Street, and then the headquarters of Santon their
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  Speaker 1: bank are right are here, and here in Boston is
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  Speaker 1: moving right here. Bexalta moved over. They've got a quite
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  Speaker 1: a shire, but they moved right over here. So people
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  Speaker 1: are moving. I moved here four years ago for that reason,
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  Speaker 1: because I'm in biotechnic life sciences and this is the
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  Speaker 1: place to be. Well, of course you are prior to
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  Speaker 1: Johnny mackenzie, you lead the practice here. Now you're the
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  Speaker 1: uh here in the Boston office. They say, since for
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  Speaker 1: four years, uh, your laboratory manager at General Electric, you
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  Speaker 1: helped design manufacturing processes, developed new polymetric materials and NONO materials.
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  Speaker 1: You're passions life intersection of science, engineering, medicine and business.
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  Speaker 1: So perfectly situated the biotech scene in Boston. How do
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  Speaker 1: you describe it? How big is it gotten? I know
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  Speaker 1: what we were talking about for the show. You just
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  Speaker 1: mentioned that it's not just big or small, it's all
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  Speaker 1: kinds of businesses here now. So most pharmacyical companies are
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  Speaker 1: moving their innovation headquarters in some farmer shape out to
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  Speaker 1: They at least have a presence out You will quote
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  Speaker 1: on a list of top twenty. I mean you see
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  Speaker 1: how here you mean Boston in this brodery, Boston, Cambridge, Waltham.
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  Speaker 1: You just walk down and you will see them. So
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  Speaker 1: almost every major player has a presence out there. If
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  Speaker 1: you look at the biotex sing there are probably hundreds
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  Speaker 1: of biotics and not thousands of biotex out here. If
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  Speaker 1: you look at what mass bio is doing, Uh, there
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  Speaker 1: are enough biotex out there coming from great academic science.
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  Speaker 1: We have some fantastic research going on. Venture capitalists and
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  Speaker 1: moving in. They are partnering with academia to be able
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  Speaker 1: to create compound companies. And what Large Farm and others
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  Speaker 1: of finding is that they want to source innovation. This
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  Speaker 1: is a place to be because the small biotex are
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  Speaker 1: the ones that lead to so many the big, big
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  Speaker 1: products and big break both big and small. I would
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  Speaker 1: say its people right. It's about professors who are doing
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  Speaker 1: fantastic research. It's about an ice at US coming in.
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  Speaker 1: It is about venture capital being there to help create
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  Speaker 1: the businesses, and it's about farmer being there to partner
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  Speaker 1: with them in a holistic way. It's an ecosystem, which
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  Speaker 1: is what it's fascinating. Glad you mentioned people, because I'd
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  Speaker 1: like just to comment on one person in particular, Jim Rooney,
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  Speaker 1: and how he in many ways exemplifies what has happened,
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  Speaker 1: particularly in this area of sal Boston, and I wonder
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  Speaker 1: if you could just speak to those accomplishments and how
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  Speaker 1: they come together at the Chamber. So Jim Rooney, it
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  Speaker 1: has been a pleasure to work with him over the
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  Speaker 1: last year I was involved in the search, and I
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  Speaker 1: would have been thrilled by what he has been doing.
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  Speaker 1: He knows the political scene extremely well out here, is
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  Speaker 1: very well connected. He knows everybody out here in some
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  Speaker 1: form of shape. Our membership is growing, we are diversifying it.
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  Speaker 1: Jim Browney is a known name. He has an amazing
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  Speaker 1: communing power. He can pick up the phone and call
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  Speaker 1: most people. One of the things we've been trying to
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  Speaker 1: do is that the Chamber is a place where we
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  Speaker 1: help each other. If you go back to the history,
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  Speaker 1: the Chamber is almost hundred years old, and if you
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  Speaker 1: go back to White was formed, it was for the
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  Speaker 1: members to help each other. And Jim Rooney and the
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  Speaker 1: and his friends have the connections out here to get
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  Speaker 1: us to anybody. So I think that's one big, big thing.
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  Speaker 1: Number two, we have taken around twenty policy positions together
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  Speaker 1: as one business voice, and that needed the connectivity, the
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  Speaker 1: connections and Bunnias provided that. Uh. And it has been
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  Speaker 1: a pleasure to work with him. Just a wonderful guy.
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  Speaker 1: And it has been a pleasure to work with him
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  Speaker 1: over the last year. And I look forward him anymore. Well,
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  Speaker 1: it's a pleasure to have pleasure. And we're going to
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  Speaker 1: see you to see him tonight, not sitting at the
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  Speaker 1: dinner and UH a good friend of your another Boston
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  Speaker 1: Bright Light President, chairman of Sparta Groups being honored by
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  Speaker 1: the Boston Chamber of Commerce. I just said, lunch with him,
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  Speaker 1: and he's amazing, guys, to be a throat. He's gonna
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  Speaker 1: be on the show with us too. Excellent. Thank you, fun,
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  Speaker 1: Thank you guys, perhaps saying naps. Seeing managing partner at
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  Speaker 1: the mckensey Boston office and Chair of the Boston Chamber
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  Speaker 1: of Commerce, the Greater Boston Chamber of Commerce meeting here
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  Speaker 1: tonight in Boston. Mary Mcpharmaceuticals, a Boston biotech leading the
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  Speaker 1: Boston on Bloobrig Radio.