The Advisory Board shall assist the Department in: developing a comprehensive State strategic plan for life sciences; promoting life sciences research, development, commercialization, and manufacturing in the State; promoting collaboration and coordination among life sciences organizations in the State; promoting collaboration and coordination among research institutions of higher education in the State; developing a strategy to coordinate State and federal resources to attract private sector investment and job creation in the life sciences; developing a strategy to support federal life sciences facilities located in the State, including support for education, transportation, housing, and capital investment needs; and making recommendations to address critical needs in the life sciences, including access to venture capital and capital construction funding. In performing its duties, the Advisory Board shall give due consideration to the business, scientific, medical, and ethical aspects of the life sciences industry.