Biotechnology must continue to play a leading role in the growth agenda of the next decade and beyond.
Strength in biotechnology is one of Europe’s most valuable industrial assets. The sector is at the core of the knowledge-based economy that is central to future European growth.
Many of the innovations which have made biotechnology one of the world’s most important growth sectors originated in Europe.
Biotechnology must continue to play a leading role in the growth agenda of the next decade and beyond. It is among Europe’s most innovative industries and is widely acknowledged to depend in large part on the 2,000 or so SMEs operating across the continent.
These innovative companies promise a brighter future for Europe, but they require sound policy-making that supports innovation and entrepreneurial risk-taking, and regulatory structures that reward long-term investment in research and development (R&D).
However, in a world of growing competition we cannot take these assets for granted.
Specifically, there is a need to attract competent entrepreneurs who can translate leading science into commercial opportunities, and for highly innovative SMEs to attract more investment.
The objective of this publication is to identify, for a selected number of European countries, policies on issues such as taxation, regulation and the availability of grants that are designed to help biotechnology SMEs set themselves up and grow in a sustainable way.
Our initial focus is on those Member States of the EU with the most established track records in commercializing biotechnology. The study assesses, among other topics, the measures Member States have in place to support the establishment of SMEs in biotechnology.
Such measures include the rules governing intellectual property; those applying to tax incentives for investors and entrepreneurs; systems for grants; the regulatory regimes for final products; and measures to allow young, innovative companies to accelerate their development.
Here, we take closer look at the industry across the following topics:
- Pharmaceutical industry overview
- Agricultural biotechnology industry overview
- Bioeconomy industry overview
- Key tax considerations through the biotechnology life cycle
- Outlook for biotechnology in Europe