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February 28, 2017
As part of the 2017 European Industry Day, EuropaBio has launched a Call to Action to EU policymakers with key recommendations for strengthening the policy environment for insuring the social and economic benefits of biotech SMEs in Europe.
The biotechnology industry in Europe counts over 3000 companies, of which 95% are SMEs or micro companies of 50 or less employees. A large proportion of the research and innovation in the biotech field is carried out by SMEs and micro-companies hence the fundamental importance of supporting not only their creation but also their development. However, the risks and costs faced by biotech SMEs are enormous, say EuropaBio. In the biotech sector, the time lapse between discovery and access to market can be up to 15 years with relatively high risk, as well as high development and testing costs.
A viable biotech SME sector is key to ensuring the future of many of the growth industries and the products and processes they offer citizens in Europe. Leaders must prioritize public policies, which ensure a thriving SME community in Europe through: