As we saw yesterday, the biosciences can benefit a state’s economy. Thus, states should take the initiative to attract biosciences. There are several avenues that should be explored in order to develop a bioscience industry, which have been nicely laid out in the BIO report “State Legislative Best Practices in Support of Bioscience Industry Development” and summarized here:
- Technology Transfer:
- Specialized Facilities:
- Venture Capital/Discovery Funds:
- Bioscience Workforce Initiatives:
- Supportive Business Climate Incentives:
Many states have begun bioscience initiatives that cover one or more of these enterprises. What is your state doing to support biosciences and bolster the economy?
This is Part 4 of 4 in our Economic Impact of R&D series.
Part 1 - Economic Impact of Research & Development
Part 2 - Biosciences: Where the Jobs Are
Part 3 - Economic Impact of R&D Ranked by State
Part 4 - Show Me the Money