Science Market Update

• $441 million in annual NIH funding
• $117 million in funding for the creation of two new medical buildings 
• A potential of more than $125,000 from sales leads
• "Fantastic experience. Great people, great connections, great food, great show!!"

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Columbia University is a highly-funded, world-renowned research institution making big contributions to the life sciences. Considering the great medical achievements that researchers from Columbia University have accomplished, though, it's no surprise that this world-renowned Ivy League institution is so highly funded.

Medical achievements from Columbia University include: 

• Creation of the Apgar score, which assesses the health of newborn babies.
• The identification of cystic fibrosis.
• Performing the first successful child heart transplant. 
• Uncovering information about how the brain stores memories. 
• Treating epilepsy with dilantin for the first time. 
• The development of the Bacitracin, a common antibiotic. 

Researchers discover new lab products at the 2014 BioResearch Product Faire™ Event at the Armory Track and Field Center.   

At the 4th annual event held in the fall of 2014, 325 researchers from Columbia University attended the event. Nearly 30% of those who attended were decision makers, while the rest were post docs, grad students, and other lab and research staff. 

The next event at the Armory Track and Field Center by Columbia University will be held on Tuesday, March 24, 2015. This will be the first of two shows held at this location in 2015. 

Lab suppliers who participate in this event will be able to: 

• Present, discuss and demonstrate lab products directly to life science researchers. 
• Answer researchers questions promptly and help them to understand the benefits of using new products and technologies. 
• Distribute product samples to the people who actively use the supplies. 
• Nurture new and existing sales leads. 
• Set follow-up appointments with leads acquired at the event. 
• Get exposure in a thriving marketplace and increase brand awareness in the New York City area. 

 The 2015 BRPF™ Event allows lab suppliers to market products to active life science researchers. 

At the 2014 event, attendees came from 44 different research departments and 20 on-campus buildings at Columbia University. Departments with high amounts of researchers in attendance included: 

• Pathology and Cell Biology
• Medicine
• Biochemistry and Molecular Biophysics
• Neuroscience and Neurology
• Microbiology and Immunology
• Physiology and Cellular Biophysics
• Surgery
• Environmental Health Sciences
• Virology

The exhibitors who attended the 2014 event reported generating high amounts of new leads interested in their products:

• One vendor reported generating 5 top quality leads for a product that sells for $25,000. This company has the potential to bring in $125,000 from those leads.
• Another product supplier obtained 10 new quality leads on a $200 product that is purchased weekly. If all 10 leads become customers, that's a potential of $104,000. 
• A research consumables company reported 15 quality leads on a $300 product that is purchased in pairs 3-5 times a year, generating possibly $27,000 to $45,000 in revenue. 

Researchers and exhibitors in attendance had great things to say about the event:

• "The event was very informative. In the lab we are so used to working with old equipment and it is exciting to see the new technology out there. I really enjoyed the opportunity to see the future of scientific research." 
• "Fantastic experience. Great people, great connections, great food, great show!!"
• "These shows are always well advertised so that vendors get access to as many researchers as possible during the show." 
• "The Columbia University Biotech Calendar show drove a significant amount of quality leads to our booth. This is extremely helpful in this market which is under served by our company."
• "The show is always a busy one - very organized and accommodating!"

Discover new leads at the Armory Track and Field Center in 2015.  

With $1.5 million in funding from private and public foundations given to the Columbia University Medical Center, many academic research departments are well-funded. This funding helps labs start new projects, continue on-going work, and purchase new supplies that will benefit the labs and researchers. 

In the 2014 fiscal year, the National Institutes of Health (NIH) awarded Columbia University researchers $351.8 million. The following departments received substantial amounts of this funding:

1. Medicine and Internal Medicine - $83.6 million
2. Public Health and Preventative Medicine - $46.4 million
3. Neurology - $27.5 million
4. Pathology - $27.4 million
5. Biology - $14.6 million

*Data above collected from the NIH RePorter.

Columbia University not only uses this funding for lab supplies and research, it also uses funding to construct new research buildings. Currently, 2 new buildings, totaling $117 million are being constructed at Columbia. 

1. A new 100,000-square-foot, $77 million Medical and Graduate Education Building is under construction with an expected completion of 2016. 
2. A new 70,000-square-foot, $40 million nursing school building is also under construction with an expected completion in 2016 or 2017. 

To learn more about marketing lab products to Columbia University researchers in March, 2015, visit the link below. 

Along with having the opportunity to market lab products to researchers at one of the most well-known institutions in the world, Biotechnolgoy Calendar, Inc. is offering lab supply companies the chance to participate in 3 events in the New York region within the same week. Bundling marketing events into regions is a great way to both save money and meet with a much greater amount of appropriate researchers. 

For companies and sales reps planning to be in New York in March 2015, consider attending 1, 2, or all 3 of these great marketing events:

The Armory Track and Field Center (Adjacent to Columbia University) - March 24, 2015

Mount Sinai, School of Medicine - March 25, 2015

Rockefeller University - March 26, 2015