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Building the Bioeconomy

April 28, 2014
Leaders across the globe have increasingly begun to target the bioscience industry as an economic engine that provides high wage, high-skilled jobs across a broad range of occupations.

During the last decade, this understanding of the economic potential of the industry has led to policies and programs that provide supportive tax environments in capital formation, technology transfer, and funding for a workforce to facilitate research, development, and manufacturing.

BIO has just released a first-of-its-kind report that offers a best-practices look at the strategies and policies that have contributed to the development of some of the world’s leading biotechnology sectors. The report, Building the Bioeconomy: Examining National Biotechnology Industry Development Strategies, identifies key enabling policy input factors ranging from human capital, protection of intellectual property to infrastructure for research and development.

BIO has long advocated that the right mix of state and regional policies is essential to the growth and success of the biotechnology industry. This report extends that analysis by identifying key policies that create, nurture, and retain the bioscience industry on the national stage.

Eight geographically and economically diverse countries (Brazil, China, India, Korea, Russia, Singapore, Switzerland and the United States) were selected based on their existing development of a globally competitive biotech sector in which local stakeholders can compete on the world stage.chart

The seven enabling factors identified in this report range from the institutional and eco-system level (such as levels of tertiary education and IP environment) to the more biotech specific (such as what type of biomedical and biotech R&D infrastructure does a country have in place and the availability of technology transfer laws and mechanisms).

Download a copy of the English and Portuguese version of the report here.

For further information please contact Dr. David Torstensson