Government Funding and Grants

Capital formation challenges in the industry have forced many biotech companies to halt projects, lay off staff or shutdown all together. Our analysis shows that the industry is approximately one-quarter smaller than it was in 2008.

The biotech industry is a thriving sector employing 1.3 million Americans in high quality, high paying jobs.

State governments in 2011 continued to see regional economic growth in the life sciences industry and in 2012 will increasingly focus attention on technology transfer and venture funding as mechanisms to increase private sector innovation related activities within their jurisdictions. Realizing that entrepreneurship is a key ingredient in economic development, states and localities are undertaking the support of programs that assist high technology businesses, and that capitalize on state regional presence of universities and federal laboratories.

Jobs and salaries in this industry have substantially grown in the past ten years. To date, there are more than 47,000 bioscience companies and 1.4 million workers in the United States.

Jack discusses her greatest accomplishments, advice for industry leaders, and the promise of biotech. Pulmatrix is a clinical trial stage biotech company based in Lexington, Mass.

What is your opinion of biotechnology companies – very favorable, somewhat favorable, somewhat unfavorable, or very unfavorable?

BIO and five member companies – Mendel Biotechnology, Arborgen, Abengoa Bioenergy, Novozymes and BP Biofuels – along with the Biomass Power Association held a briefing on Capitol Hill this week, outlining the importance of the USDA’s Biomass Crop Assistance Program (BCAP) and related programs. Regulatory rules for the BCAP, Biorefinery Assistance Program, and Rural Energy for America Program (REAP) were finalized by USDA only during the last quarter of 2010. But Congress is considering cutting the funds for these programs before they have a chance to show their effectiveness.