The World Trade Center Institute
Congratulates Dr. Paul Silber on his Recognition as a
Maryland International Business Leadership Award Winner
Baltimore, Maryland, March 1, 2006 – Dr. Paul Silber, president and CEO of In Vitro Technologies, Inc., was recently selected as a winner of Maryland's 2006 International Business Leadership Awards. The award is presented annually to an individual within a Maryland company who has led his or her company to new global heights, demonstrating an entrepreneurial spirit, determination, creativity and the cultural sensitivity that global business demands.
Started in 1990, In Vitro Technologies, Inc. (IVT) supplies pharmaceutical, biotechnological and chemical companies with in vitro testing services and products for studying chemical-biological interactions in vitro. In other words, IVT puts enzymes, molecules and human cells into test tubes and performs experiments; or they give these tools to their clients to perform their own experiments. These tests look at the effects of chemicals on the human liver, kidney, heart, skin and eye. The company primarily serves the pharmaceutical, household product, petrochemical and cosmetic industries.
IVT was originally founded in Texas by Dr. Paul Silber. Shortly after, the start-up company relocated to Baltimore’s UMBC Business Incubator to be closer to its primary customer base on the East Coast. The company graduated from the business incubator in 1995 and subsequently relocated to the UMBC Technology Center, where it is now the Center’s largest tenant. Since coming to Baltimore in 1991, IVT has grown from 2 employees to its present staff size of 70, including several employees in Europe.
Dr. Paul Silber, president, CEO and founder, recently expanded IVT’s international business by extending the reach of their products and services in international markets. IVT services touch two continents with a specific focus in Japan, the UK, and Germany. They view India as a market with great potential.
IVT also brings the products of international companies to their North American customers through strategic alliances and distribution relationships. Their sales have increased at an impressive 55% compounded over two years. International markets account for 42% of their total sales.
"Paul Silber has been an active leader, if not THE leader, in the Greater Baltimore biotech community for many years. I have great respect for the work he has done to help advance biotechnology in the state,” explained Steve Kozak, Executive Director of Greater Baltimore Technology Council.
As Silber continues to grow his company he relies on the principles of lean manufacturing. “Lean makes us the most competitive in our business; we incorporate the principle into everything we do from accounting to office décor,” believes Silber. This way of thinking has helped them to provide better and faster solutions to their customers. Silber also has found success in hiring a highly educated workforce, “Most of our personnel has advanced graduate degrees. Even our salespeople have PhDs,” stated Silber.
From scientist to CEO, Paul Silber considers himself “70% entrepreneur and 30% CEO.” “Paul is the quintessential entrepreneur. He has that unique combination of creativity, excellent business sense, ability to execute, and, above all, he is a master role model who inspires and encourages other entrepreneurs during their difficult start-up period,” believes Emerging Technology Center Executive Director Ann Lansinger.
Silber serves on the boards of Alex Brown Center for Science and Entrepreneurship,
the Maryland Emerging Technology Center, the MDBio/Tech Council of Maryland and the UMBC President’s Advisory Committee. He spends time mentoring other entrepreneurs and is involved with the Chesapeake Emerging Opportunity Fund.
Dr. Silber has an undergraduate degree in Biology from Carleton College, a Master's degree in Public Health from the University of Alabama and a Ph.D. in Pharmacology and Toxicology from the University of Arizona.
Silber, a Baltimore native, is married with 3 children. He enjoys skiing and scuba diving.
Quotes about Dr. Paul Silber:
Ann Lansinger, Executive Director of ETC Baltimore
“Paul is the quintessential entrepreneur. He has that unique combination of creativity, excellent business sense, ability to execute, and, above all, he is a master role model who inspires and encourages other entrepreneurs during their difficult start-up period.”
Steve Kozack, Executive Director GBTC
"Paul Silber has been an active leader, if not THE leader, in the Greater Baltimore biotech community for many years. I have great respect for the work he has done to help advance biotechnology in the state, and his integral role in our BioRoundtable. Paul commands attention and respect in his field, and uses these assets to continually give back to the bio community. And, as is shown by this evening's award, his reach extends far beyond our region. The GBTC would like to congratulate Paul on this very well-deserved honor...you couldn't have picked a better leader...or a better person."
Vivian Armor, Director, Alex. Brown Center for Entrepreneurship UMBC
"Paul's a very talented and skilled leader. He's a busy CEO, yet he always makes time to mentor and help others. He's a great role model."
About WTCI:
Established in Baltimore in 1989 to help connect Maryland to the globe, today the World Trade Center Institute (WTCI) is the region’s premier private sector international business partner. Financed jointly by area businesses and the State of Maryland, WTCI operates as a non-profit membership organization.
More than 2,500 Maryland firms benefit from WTCI’s extensive global network, pragmatic international business programs and customized consulting. WTCI is a member of the World Trade Center Association, along with nearly 300 fellow World Trade Centers operating in major business cities around the world.
About the Event:
Date: Thursday, March 30, 2006
Time: 5:15 p.m. - 8:30 p.m.
Location: Jim Rouse Visionary Center, a part of the American Visionary Arts Museum, 800 Key Highway, Baltimore, MD 21230
Refreshments/International Buffet/Latin Music Celebration
Cost: $100 WTCI members/$150 Non-members