Biotech needs the right policies to stay on track in new EU member states

EuropaBio, the European Association for Bioindustries, and Venture Valuation, with the collaboration of national stakeholders, have published a ground-breaking report 'Biotech in the new EU Member States: an emerging sector', evaluating the biotech industry across the 12 newest European Union member states, as well as Turkey and Croatia.

The report identifies 260 biotechnology companies across 14 countries; and addresses the opportunities and challenges particular to each national situation. Four countries in particular, Hungary, Poland, the Czech Republic and Estonia, report the highest numbers of biotechnology companies and were the most developed biotechnology sectors among the countries analyzed. One of the main challenges for the sector highlighted in the report is how to turn innovation into products when there is little guidance and support.

'Despite the political will to develop R&D as a national priority and government interest in biotechnology, concrete policies are not always put into practice.' said Patrik Frei, chief executive of Venture Valuation and co-author of the report. He continued: 'Setting up a coherent and consistent framework with support dedicated to the biotechnology and health care sectors is the key to long-term success for the industry.'