Fierce Biotech reports this morning on a new Scientific American rating of the top spots for biotech. The following criteria were used to make this assessment:
- Intellectual property and the ability to protect it
- Biotech R&D spending
- Availability of venture capital
- Workforce expertise and availability
- Overall quality of the country's biotech foundation (including entrepreneurship)
Given the criteria, perhaps it is not surprising to see the US at number one - particularly on the strength of venture capital availability. Some of the other rankings may be surprising to you - Singapore (2), Canada (3), Sweden (4) and Denmark (5). Singapore is helped mightily by its goverment spending in the drug development area and is a well known hub of new manufacturing in the Asia Pacific.
The article further goes on to caution that the US is slipping in its quality of biotech workforce (2nd to Singapore), and the education system that needs to support future workers is in need of improvement now - especially in hub areas like California.
Posted by Bruce Lehr August 23rd 2010.