Neil Steinberg has resigned as the voluntary chairman of the Rhode Island Life Science Hub, as the fledgling sector seeks to build on initial successes in the state.
While Rhode Island has long lagged Massachusetts in developing a life sciences sector, the effort took on more energy after becoming a priority of House Speaker Joe Shekarchi.
In his resignation letter to Gov. Dan McKee, Steinberg wrote, “Along with our world-class board, we have laid the groundwork for a thriving life science sector in Rhode Island. Our progress confirms the potential for the life sciences to contribute to Rhode Island’s broader economic strategy over the long term.”
As Steinberg notes, one challenge is finding a new source of funding after $45 million in American Rescue Plan Act money runs out next year. Those funds helped create the Life Sciences Hub as a quasi-public agency.
Steinberg pointed to successes in his tenure: the new state health lab due to be completed at the end of this year will include a life sciences incubator; a respected medical innovator, Dr. Mark Turco, came on board as president/CEO of the Life Science Hub last December; and how the state recruited and invested in Organogenesis Holdings, a regeneration medicine company, to boost its manufacturing operations in Smithfield.
Speaker Shekarchi credited Steinberg with guiding legislation to support the life sciences and serving as the face of the effort to develop the sector.
Steinberg, the former head of the Rhode Island Foundation, said he plans to end his role as chair of the hub no later than Sept. 30. He said he was motivated by a desire to travel and spend more time with his family.
In an interview, he said Rhode Island remains on the ground floor of trying to nurture the life sciences, and he pointed to how Worcester is going “gang-busters” as an example of what can happen over 10 years.
“I’m bullish on it,” Steinberg said.
