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St. Louis Business & Technology News
www.slfp.com/SLFPBIZp.htm "When you think Saint Louis, think Saint Louis Front Page," a weekly publication covering the news and events in the greater St. Louis area. 
St. Louis Front Page P.O. Box 1354 St. Louis, MO 63188 Voice: 314-771-0200 Fax: 314-771-0300 To submit news, contact: editor@slfp.com To advertise, contact: advertising@slfp.com 
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Women-Owned Small Businesses Growing Three Times the Rate of All Businesses ST. LOUIS, (PRNewswire) September 24, 2004 - Women-owned businesses in the top 50 metropolitan statistical areas (MSAs) are playing a critical role in driving the economic health of the U.S. economy, according to a recent study from Wells Fargo and the Center for Women's Business Research. According to the study - "Women-Owned Businesses in 2004: Trends in the Top 50 Metropolitan Areas" - women-owned businesses in these key markets grew by 30 percent from 1997 - 2004, compared to a 10 percent growth rate for all firms during the same period. "This research reaffirms what we are seeing with our customers - women business owners are aggressively starting and continuing to build successful businesses," said Joy Ott, Regional President for Wells Fargo Bank in Montana and national spokesperson for Wells Fargo's Women's Business Services Program. "The growth rates in the country's top 50 metropolitan areas speak for themselves. Even during uncertain economic times, innovative and determined women business owners are doing their part to ensure the economy continues moving in the right direction." Based on the number of businesses, employment, and sales, the ten MSAs with the fastest growth rates for 50% or more women-owned businesses are: 1. Salt Lake City/Ogden"At a time when employment is critical to the growth of urban economies, women-owned businesses clearly have a vital impact," said Dr. Sharon Hadary, Executive Director, Center for Women's Business Research. "Nine and a half million jobs and $1.3 trillion in annual revenues sends a clear message that women-owned businesses are integral to the economic well-being of this country's largest metropolitan areas." Measuring progress against its latest public goal to lend $20 billion to women-owned businesses in ten years (2003-2013), Wells Fargo has already lent more than $2.3 billion dollars since re-establishing the goal in September 2003, and is now tracking at 157 percent of its pro-rated objective. Since the inception of its Women's Business Services program in 1995, Wells Fargo has lent more than $18 billion to women business owners nationwide. "This is such an exciting time for women business owners -- they are genuinely no longer the exception to the rules of the marketplace," said Ott. "I remember a lot of people were surprised when we announced our latest lending goal of $20 billion over ten years. Less than one year into that goal, we are already way ahead of our target. We're very proud of this, and will continue forging ahead, ensuring women entrepreneurs have the complete range of financial services they need to pursue their business dreams." Midwest Delegates Prepare for Largest-Ever Biotech Mission to Japan ST. LOUIS, (PRNewswire) September 24, 2004 - Collaboration and business development will be on the minds of nearly 120 members of a biotech mission to Tokyo, scheduled for September 25-October 1. The mission, assembled by the Japan External Trade Organization (JETRO), is the largest-ever focusing on biotechnology and related fields. A strong contingent from Midwest states includes organizations such as the Argonne National Laboratory, the University of Minnesota, Northwestern University and the Nidus Center for Scientific Enterprise, along with a number of start-up and established biotech companies. The mission also includes representation from some of the most prestigious companies and institutions from around the U.S., such as Biogen Idec, the Cleveland Clinic, the Harvard Medical School and Pfizer. This mission is designed primarily to guide members of the North American life science community who have limited experience in Japan as they explore their options in the world's number two biotechnology market, and to help those that have more extensive Japan experience to focus their business strategy and open new doors. Participating mission members can expect a variety of networking opportunities with potential Japanese counterparts, at an exceptionally reasonable cost. The mission brings together representatives of the two largest biotech markets in the world. Japan's biotechnology market, which was valued at $12.2 billion in 2002, is forecast to grow to an amazing $219 billion by 2010. The Japanese biotechnology industry is increasingly looking for integration and partnering with foreign companies, research institutions and universities in order to bring life-enhancing innovation to Japanese society. Since 2002, The Japan External Trade Organization (JETRO) has worked toward identifying and promoting opportunities for increased international collaboration including joint research, co-licensing and co-marketing of innovation, equity investment and business expansion between international biotechnology industries and Japan. As part of the program, the delegation will visit the JETRO BioLink Forum 2004, a full-day symposium where life science thought leaders from around the world will address the timely themes of biotechnology "cluster" building, industry-academic cooperation, and the promotion of inter-cluster collaboration beyond the national borders. Three Midwest Governors will speak at BioLink Forum: Governor Bob Taft of Ohio, Governor Bob Holden of Missouri, and Governor Jim Doyle of Wisconsin. Delegates will also spend significant time at BioJapan 2004, Japan's largest biotechnology conference. Mission members will have the chance to meet with the full range of Japan's biotech or biotech related companies, medical institutions and universities. Additionally, many mission members will have the advantage of one-on-one meetings with appropriate Japanese companies, arranged by JETRO. Mr. Tomoharu Washio, Chief Executive Director of JETRO's Chicago office, has been instrumental in furthering the goal of biotechnology collaboration between the Midwest U.S. and Japan. "Over the past two years, the Midwest biotechnology community has embraced the JETRO biotech initiative and has strongly supported JETRO seminars, symposia, and missions. The heavy Midwest participation in this year's mission reflects their spirit and the success of the initiative. It is our sincere hope that this level of commitment translates into solid business development and an on-going dialogue between Japan and the Midwest," Washio said. Return to St. Louis Front Page  
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