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Innovation in biotechnology depends on many things, especially capital. The question is: What can a country do to increase its odds of becoming a go-to country for biotech investors? A recent analysis reveals that the 2013 Scientific American Worldview can be of help to countries looking to increase their appeal to investors.
The investment-attracting roadmap arises from the Scientific American Worldview Scorecard, which provides a meta-analysis of innovation potential in biotech for 54 countries. Yali Friedman developed the system of analyzing this information, and he collects the data, which come from a mix of published reports, publically available data and elsewhere.
A wide range of factors determines a country’s potential to generate innovative biotechnology, and thus, this scorecard examines a diverse collection of metrics, ranging from data on patents and the revenue produced by public biotech companies relative to a country’s GDP to infrastructure quality and the absence of violence/terrorism. By using a mixture of absolute and relative measurements, and each component getting equal emphasis in the final result, smaller and larger countries are fairly compared.