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Most government biotech investment will fail
Government needs to realise that biotech company investments will probably fail
By Peter Kerr for sticK
(sticK - Oct. 15 2010 ) Governments should realise that a large percentage of its investment in start-up biotechnology companies will fail as such according to Jim Greenwood.
The president of BIO, the overarching body for 1100 American biotechnology organisations, says most biotechnology companies will fail, as will most projects within those companies.
“It is the willingness of those scientists and entrepreneurs to pick themselves up, dust themselves off and try again that builds a culture,” says Greenwood who was keynote speaker at NZBio’s annual conference in Palmerston North. He is also attending the upcoming AustBio conference, and his trip downunder was paid for by that organisation as well as the state government of Victoria.
For sticK – science, technology, innovation &
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Peter Kerr
Message maker
Writer, communicator, simplifier, storyteller.
Versed in the art and science of translating something complicated into an understandable message.
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