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“Building the Bioeconomy” highlights linkages between economic and social benefits of biotechnology innovation

“Building the Bioeconomy” highlights linkages between economic and social benefits of biotechnology innovation

A study highlights strategies, policies and best practices that have been successful in creating an environment in which biotechnology innovation can flourish around the world.

The fifth edition of the Building the Bioeconomy report shows the correlation between economies with pro-innovation policy frameworks and those achieving strong biotechnology outputs. By examining 28 different indicators, the report provides a full and detailed analysis of the biotechnology environment for 33 countries from all major regions of the world.

“Regulations need to strike a balance that stimulates innovation without dampening broader economic efficiencies. More than in other industry, the interplay between biotechnology innovation and regulation has important social and economic implications,” said Joseph Damond, Executive Vice President, International Affairs at BIO. “As this report demonstrates, countries that are leading the biotech economy are the ones where forward-looking regulations encourage, not hinder, innovation.”

This data-driven report developed by Pugatch Consilium compares economies on over 20 policy inputs and biotech outputs showing how regulations effect success or failure in driving industry growth. Economies that have stronger environments with all enabling policy factors in place yield higher biotechnology outputs. Adopting a strong policy framework is key to reaping the economic and social benefit of this important industry.

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