Thursday, December 13, 2012

There's no market like a global market

A post at Trade Secrets discusses the needs of a bioscience ecosystem:

In most business case examples, a lot of attention is placed on having the right product and a company with the right people, with enough money to run towards the next milestone/exit point.  This blog post walks through Singapore's experience over the past thirty years as an example,
The reasons for Singapore’s incredible success is the subject of heated debate, but two factors stand out – its proximity to large and growing markets (China, S. Korea, etc), and its early development of a government-backed bioscience ecosystem to support companies including services, manufactures and, critically, cash.
In an ecosystem, three factors are important: “food”, “fuel”, and “space”.  In economic terms, "food" is described as a supply of innovation; “fuel” is access to entrepreneurial energy and a constant supply of investment cash; and “space” is a supportive political and economic environment.

The catch is that despite having these three factors in ample supply, biosciences economy will hit soon hit a ceiling without an extra nudge:
To develop and sustain a high-growth, scalable, bioscience economy there must also be a reliable and economical route to global markets. This is a vital component that requires innovation in terms of business models and in terms of applying government assistance to reach external markets.
Seems reasonable for the most part.  Local markets for biotechnology products don't exist, except when solving regional problems.

Some other miscellany:

Personalized medicine is being oversold, according to Canada's Globe & Mail.

On why elevator pitches are important for scientists, too.