|
State Legislative Best Practices in Support of Bioscience Industry Development
|  Printer Friendly |
Role of Partners in Commercialization and Job Creation
As with any economic development activity, a variety of public and private stakeholder groups are essential to provide the significant financing, personnel requirements as well as a supportive business climate needed to successfully compete in today's marketplace. The bioscience industry has three primary partners in this endeavor each providing support in unique ways. They include policymakers, universities and research centers, as well as the industry itself.
Academic Research Centers:
Fostering collaborative partnerships between academic research centers and companies has emerged as a critical imperative in sustaining U.S. invention and innovation. The increasing volume and accelerated pace of knowledge creation has transformed the research process to the point where no one scientist or institution can sufficiently conduct wholly independent research programs. This new reality makes the relationship between academic investigators and industry researchers a central driver in the decades since the passage of the Bayh-Dole Act of 1980.
Policy Makers:
The need for a stable and supportive public policy structure is pivotal to bioscience companies large and small. It is almost impossible for any state to ignore the need for selective infrastructure and development incentives to either hold existing companies or attract new enterprises. From the perspective of public policymakers nationwide, the pursuit of commercial development of bioscience industry fits the objectives sought to diversify the economic base, generate new jobs, and improve the standard of living for citizens.
Industry Participants:
Industry collaboration with universities and policymakers is the hallmark of the vibrant U.S. technology industry growth over the past three decades. During that time period, industry moved to become an active participant in public policy creation by providing sights into its needs for sustained growth. Future state policymaker efforts to support the industry will require sustained industry input on the policy tools necessary for success. The symbiotic relationship between academia and industry is important not only for technology transfer purposes but for workforce development as well.
DISCLAIMER: The examples cited in this document are only a small fraction of policies state governments have put in place to grow the bioscience industry. It is not intended to be exclusive of other policies to develop technology-based industries.
| 
