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Patrick Soon-Shiong Innovation Awards 2010

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Patrick Soon-Shiong Innovation Awards 2010 November 29, 2010 Advertising Supplement The Los Angeles Business Journal presents PAT R IC K SOON-SHIONG INNOVATION AWARDS 2010 PRESENTING SPONSORS EVENT SPONSOR This special advertising supplement did not involve the reporting or editing staff of the Los Angeles Business Journal. 30 AN ADVERTISING SUPPLEMENT TO THE LOS ANGELES BUSINESS JOURNAL NOVEMBER 29, 2010 PATRICK SOON-SHIONG INNOVATION AWARDS 2010 PUBLISHER’S LETTER HE Los Angeles Business Journal proudly hosted the T 2010 Patrick Soon-Shiong Innovation Awards dinner on November 18th at the Four Sea- sons Hotel Los Angeles at Beverly Hills. This special award program was created to honor and acknowledge the individuals and organizations that continue to stretch the boundaries and have proven to be leaders in inno- vation. We are proud to have a part- ner in Dr. Soon-Shiong who shares our vision and whose leadership has demonstrated an extraordinary com- mitment to innovation. Los Angeles is home to the most cut- ting-edge and innovative companies in Dr. Patrick Soon-Shiong with the world. There is something special Business Journal publisher Matt Toledo about Los Angeles that has attracted dreamers, entrepreneurs and innovators from around the world for generations. Innovation plays an important role in enhancing the economic competi- Dr. Patrick tiveness of the region and for helping to establish Southern California as an incubator for new ideas. Businesses Soon-Shiong, are attracted to Los Angeles because of a rare combination of access to finan- cial capital, access to talented human Innovator capital, a top-tier higher education sys- tem in the universities and an environ- ment where business thrives. Los Angeles has been described as R. Patrick Soon-Shiong has turned encourage others to support the innovators and give the place where dreams are made. In his innovative streak into billions them the breaks they need to succeed.” the case of the Innovation Awards, of dollars — and helped a few That success largely flows from the economic those dreams included everything from people along the way. diversity of Los Angeles, which stimulates great ideas, aerospace, digital media and software Soon-Shiong’s ideas about cur- he said. These ideas “often occur when people from development to mechanical engineer- ing diabetes led to the first nan- different disciplines meet,” he said. And it gives the ing, green living and, of course, the D otechnology-based breast cancer city an edge over others when it comes to business entertainment industry. Throughout drug, Abraxane, which is credited with saving thou- and innovation. the process of identifying key attributes sands of lives. He started several companies and sold “Cultural diversity helps, too,” he said. “Many of of an innovative company, we discov- two, gaining billions of dollars in wealth. And he’s us Angelenos have come here from elsewhere, bring- ered that excellence in innovation researching “personalized” drug therapies based on ing different mindsets.” comes in many forms. It can be a fin- people’s gene sets, the latest trend in research. Those mindsets, he said, include: “Curiosity, rest- ished product, a fresh process put in Because of his success, Soon-Shiong topped the Los lessness, an obsession with problem-solving and a place to design or engineer a product, a Angeles Business Journal’s list of Wealthi- good dash of stubbornness.” new approach to find solutions to est Angelenos in 2009 with an estimated Organizations have to watch existing challenges or in some cases a net worth of $6 billion and again this year against stifling innovative individuals, revolutionary idea that impacts an with an estimated net worth of $7.1 bil- Soon-Shiong said. This freedom from entire industry. lion. The Business Journal named him as restraint often begets new ideas. We established an Advisory Com- its 2010 Business Person of the Year “Disruptive innovation often mittee that identified fifteen finalists. because of his business success and his comes from individuals working out- From that group our judging panel significant philanthropic contributions. side organizations,” he said. “I have comprised of a member from each of Now, his love of innovation has my own experience of this. I offered our sponsoring organizations by unani- prompted him to join the Business Journal my drug discovery to a major phar- mous consensus voted to present six of in creating the Patrick Soon-Shiong Inno- ma company, who thought I was them as our inaugural class of Patrick vation Awards. The newspaper created the crazy and told me to go away. That Soon-Shiong Innovation Award hon- awards program to showcase Los Angeles turned out to be great for me, orees. I want to thank our sponsors as a place of innovation for businesses because I built my own company to Merrill Lynch and Morrison & Foerster throughout the country. The awards pro- make the drug, and that became a for their support of this important gram itself is innovative, he said. multibillion-dollar enterprise. Other awards program. We hope you enjoy “I’m passionate about innovation,” Soon-Shiong organizations manage to nurture a highly innovative this special section that tells the stories said. “The award competition is a terrific idea. Some- culture within themselves. Northrop Grumman is a of these fifteen amazing companies. one should have thought of it years ago. Innovation is good local example of that.” Congratulations to all of the finalists what Los Angeles is all about.” Despite all the emphasis on innovation, most peo- and to those working tirelessly to The program is important to Los Angeles, he said, ple overlook certain things about the process, Soon- inspire us and to contribute to making because “we need to remind ourselves what is so spe- Shiong said. Los Angeles the capital of innovation. cial about this place that we live in.” “It needs to be nurtured,” he said. “We can’t just sit “The economy is very rough right now, but we have back and expect it to happen here because it always great strengths here,” Soon-Shiong said. “Innovation is has. We need to encourage people to innovate. We a key strength and key to our future competitiveness.” need to nurture the culture of innovation. Our univer- Soon-Shiong said he hopes the awards program will sities, our media and our businesses can all play a part. “focus attention on the great ideas that are emerging all So, I hope, will these awards. Innovation is a great Los Matthew A. Toledo the time in our companies and universities, encourage Angeles tradition, and we must make sure it is the Publisher, CEO people to follow their dreams and dare to innovate, and hallmark of our future, too.” NOVEMBER 29, 2010 AN ADVERTISING SUPPLEMENT TO THE LOS ANGELES BUSINESS JOURNAL 31 Congratulations To all of the Finalists of the Los Angeles Business Journal’s 2010 Patrick Soon-Shiong Innovation Awards 32 AN ADVERTISING SUPPLEMENT TO THE LOS ANGELES BUSINESS JOURNAL NOVEMBER 29, 2010 PATRICK SOON-SHIONG INNOVATION AWARDS 2010 AWARD WINNERS AeroVironment HE view from AEROVIRONMENT INC.’s more than 10,000 air vehicles delivered. vantage point will electrify you. AV has competed for and won each of the four U.S. AV supplies unmanned aircraft Department of Defense programs of record involving systems (UAS) for military reconnais- small UAS, typically competing against some of the T sance and force protection, and it world’s largest aerospace companies. makes advanced charging systems Among AV’s innovations is a new digital communi- for electric vehicles. The company helped pioneer cations infrastructure that uses the designated frequen- these markets and now leads them. cy spectrum more efficiently, enabling the operation of AV applies practical innovation to tackle two glob- many more air vehicles in a given geographic area. This al market needs: the increasing economic and security infrastructure also enhances communications security need for actionable intelligence, and the increasing and enables use of UAS as miniature communications economic, security and environmental need for clean, “satellites,” creating an anytime, anywhere pop-up net- energy-independent, electric transportation. work for voice, video and data. AV is flight testing a rev- Monrovia-based AV was founded in 1971 by Dr. olutionary new hybrid-electric UAS called Global Paul MacCready, the “father of human-powered Observer, which will operate like a stratospheric satellite flight,” whom Time Magazine named as one of the with “unblinking eyes” and fly for as long as a week at greatest minds of the 20th century. AV has 730 60,000 feet without refueling. Global Observer will carry employees at nine offices in California, Alabama and payloads to support communications, remote observa- Virginia. About 650 of its employees work in South- tion and other important defense and civil missions. ern California. This public company posted gross rev- Another AV innovation is the Nano Air Vehicle, a enue of $250 million in fiscal 2010, up from $248 DARPA-funded project to create a UAS that looks and million in fiscal 2009 and $216 million in fiscal 2008. flies like a hummingbird. Really. AeroVironment CEO Tim Conver The Smithsonian Institution has acquired seven of Along with its airborne supremacy, AV is the lead- AV’s vehicles, and AV’s achievements in aviation and ing supplier of fast-charging systems for electric materi- To promote adoption and market growth within power electronics include the highest-flying airplane als handling systems and of test systems that automak- its industries, AV in 2002 helped form the UAV (the solar-powered Helios, which flew above 96,000 ers and battery companies rely on to develop electric National Industry Team (UNITE), an industry alliance feet) and the first modern electric car (the GM Impact, vehicles.
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